1 Year CD Rates (One Year CD Rates), Find The Best

By: EconomyWatch Content Team   Date: 25 February 2010

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EconomyWatch Content Team

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CD rates fluctuate tremendously. This is as true with 1 year CD rates (one year CD rates) as it is with other types of rates. What you need to learn to do is how to negotiate a higher rate of interest at your financial institution. Read on for some ideas.

Even a small difference in an interest rate can make a tremendous amount of difference. Do not discount these changes even when they are tiny. It is better to have more money in your hands than in the banks after all! You can negotiate a higher certificate of deposit rate at your bank or visit other banks or credit unions. Looking for 1 year CD rates (one year CD rates) that are really good may take some work but you will find them eventually. 

Go for a walk or a drive in your area and find out what the rates being offered for certificate of deposits are at the present time. Some banks advertise the rates in their windows while others do not. This is often a way that a financial institution will attempt to bring new business through the door. Once you have found a bank that has rates that agree with you then go speak to a representative and attempt to negotiate even better 1 year CD rates (one year CD rates). It is much better to visit the bank in person than to call. Face-to-face contact is strongly advised.

While a one year rate may be of the most interest to you, do not push aside other special or nontraditional rates that the bank may wish to make you aware of. Some examples of these include 8 month rates, 13 months or 23 months.

When you negotiate with a bank your best bet is to ask for an extra one-quarter percent of interest. Often this is all you need to ask for in order to get the higher rate you are seeking. If the bank is not willing to negotiate with you then thank them politely and move on to your second choice. This strategy is more likely to be successful at a regional or local bank as opposed to a larger national one but it cannot hurt to try at any bank you deal with. 

Scroll down and check the resources on EconomyWatch.com. Go online and find out the CD rates that are there. An excellent website to visit is http://www.bankrate.com which shows you the six month, one year and two year rates on a national and/or local basis. As a new investor this will provide you with a starting point of knowing what rates are available to you


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