: CDs at banks are insured by the FDIC , and those at credit unions by the NCUA , for up to $250,000 per depositor.

: Gives you the option to "bump up" your interest rate once or twice if the bank’s rates for new CDs rise during your term.

: Allows you to withdraw your full balance and interest after a short initial period without paying a fee.

: You agree to leave your funds untouched for a specific duration, typically ranging from 3 months to 5 years .

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