Highest Yield CD, Where to Find

The goal with any certificate of deposit investment is to find the highest yield CD possible.  Unfortunately, the current economy has created a number of challenges when it comes to saving and investing money.  Because of this, it is imperative to think outside the box, finding ways of making a great return on investment.  Remember, even weak options for certificates of deposit can pay off.[br]

The goal with any certificate of deposit investment is to find the highest yield CD possible.  Unfortunately, the current economy has created a number of challenges when it comes to saving and investing money.  Because of this, it is imperative to think outside the box, finding ways of making a great return on investment.  Remember, even weak options for certificates of deposit can pay off.[br]

Just as you want to make money off your investment by finding the highest yield CD possible, banks that offer certificates of deposit also need to make money.  For this reason, banks found locally, nationally, and online, as well as lender and brokerage firms have developed innovative solutions to benefit you but also them.  Of course, most of the better known banks will offer the highest yield CD options available.

Obviously, choosing the highest yield CD is one of the most important factors in building your savings.  Although other factors come into play such as the bank itself, how often interest is compounded, and even the amount invested, locating the highest yield CD is certainly at the top of the list for ending up with a great return on your financial investment.

An important note is that many online brokerage firms can help you in finding the highest yield CD options.  These companies do all the research for you and locate certificates of deposit that are going to be the most advantageous.  In return for their services, you would be charged a fee or surrender some of the interest accrued.  Either way, this is a possibility that should be considered.[br]

In some instances, these companies will charge a membership fee that would allow you access to the site so you can see what different banks offer.  For instance, in return for your membership fee, these brokerage firms spend countless hours every day researching and compiling all of the highest yield CD rates out there and then creating a list for your review.  After logging on, you simply pull up the information, make comparisons, and then choose the bank in which you want to invest.

Unfortunately, interest paid today is much lower than what you would have enjoyed only three years ago.  Typically, the highest yield CD currently being offered is around 2.0% and while this is discouraging, financial experts remain optimistic that within the next two to five years, things will turn around.  We wanted to provide you with a few examples of what were available just a few years ago and the anticipation is that these numbers will again be possible.

·    Bank of America – For a minimum $5,000 deposit, a person could take out a four-month CD paying a 4.8% Annual Percentage Yield.

·    Ameritrade – Another possibility seen three years ago for the highest yield CD allowed investments up to $100,000.  For this, the money would have been locked into a three-month certificate of deposit, paying a whopping 5.3% Annual Percentage Yield.

·    Merrill Lynch – Another of the best options for the highest yield CD involved a three-month CD that paid 5.15% Annual Percentage Yield or for a six-month CD, 5.09%.  However, investors were required to make a minimum $25,000 deposit.