Posted 10/9/2023, 4:56:23 PM
5 Questions to Ask When Opening a Certificate of Deposit
- Ask about the interest rate and annual percentage yield (APY) to understand your potential earnings.
- Inquire about term lengths to choose one that aligns with your financial goals.
- Ask about early withdrawal penalties to avoid unwanted fees if you need access to funds.
- Check minimum deposit requirements and special features to find the best CD for your needs.
- Ensure the CD is FDIC or NCUA insured for protection in case of bank failure.
