Is your CD (certificate of deposit) up in April?

21/02/18 5:51 PM

What does a bank CD stand for?

A bank CD stands for Certificate of Deposit and it is a financial product commonly sold in the United States by banks, thrift institutions and credit unions. They are very similar to savings accounts in that they are virtually risk free.

How does a CD work?

In exchange for depositing money into a bank for a fixed period of time (or duration), they then pay a fixed interest rate that’s typically higher than regular savings accounts.

Who has the best CD rates?

As of Feb 2018 NerdWallet shared the best CD rates which averaged from 2.35%-2.55%.

Roberson Tierney has an alternative product offering a 5-year 3.6% guaranteed interest growing tax deferred annuity!

What is Tax Deferred?

Because annuities are classified as non-qualified retirement instruments, they receive a tax benefit in the form of tax deferral on earnings. Earnings are taxed as ordinary income upon withdrawal or annuitization.

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