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Should I put my money in a CD?

I need to know the advantages of having my money in a cd.

asked by Midnight (30)

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Why should you put your money in a CD at a bank?

Tags:  investing  money

answers

There are many advantages to having a CD. By having a CD, the interest rate of return is much higher than in a savings account or banking account, usually up to 15x's as much. Right now is not a good time for CD's though as the interest rates are low because of the economy.

7 votes

The advantages of putting your money in a cd. one you will not be able to touch it for at least six months if you do there will be a penalty. Two you will have the chance to roll the cd over again when the time period for the cd is up. You also have a chance to transfer the cd to another account you have with that bank when it matures

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posted by bolojo19 (15)
5 votes

Only if it is short time. You will earn little but it is completely safe. Inflation is coming so be prepared to roll it over into a new better rate. Perhaps, take them six to 12 months at a time so you aren't stuck in a low rate.

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posted by Carol37 (505)
3 votes

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