3 Month CD Rates, Choosing The Best
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Knowing the rates for certificates of deposits can be a good way to determine what term is right for you. If you go online you will find websites that will give you a certificate of deposit index (CODI).[br]
Knowing the rates for certificates of deposits can be a good way to determine what term is right for you. If you go online you will find websites that will give you a certificate of deposit index (CODI).[br]
This particular index provides the 12 month average of the monthly average for 3 month CD rates. To put it in layperson’s terms, the index is calculated by finding out the average of the previous 12 rates for a CD that is three months in duration. The CD rate is the rate that is published on a monthly basis by the Federal Reserve. The index is an annual average that goes back as far as 10 years. For this reason it is a steadier indication of what is happening than are just straight CD rates.
If you visit the website listed above to learn more about what is happening with 3 month CD rates then you will also have the opportunity to view a historical graph that maps out the years 2000 until 2009.You will also see there a historical chart of a CD index.
Choosing to invest your money into CDs can be a very smart decision especially when the market is fluctuating a great deal. But to find the absolute best rates out there, whether it be for three months, six months or more you need to be patient and take your time and you also need to be willing to do research.[br]
There are no secrets to finding the absolute best 3 month CD rates around. What you need to do is research your options. When the time is right for you to invest in this safe investment then find out what the banks and credit unions are offering in terms of certificate of deposits and their rates. Often the percentage rates at banks are closely connected to the length of time that you are willing to invest your money for.
Be aware that the interest rates for CDs can change on a daily basis but most financial institutions change them weekly. The rates are most likely to be altered early in the week. What this means for you is that you can check out the rate on Monday and can wait until later in the week to invest if you want to explore other options. However if you tune into rates later in the week such as on Thursday or Friday and find a good one then you must hurry to your financial institution as quickly as possible before the rates change for the worse!
