YOUR FINANCIAL QUESTIONS ANSWERED
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Which type of Certificate of Deposit is best?
A Certificate of Deposit (CD) is essentially a savings account with a fixed interest rate and time frame in which investors cannot access the funds. The most popular option is a traditional CD, which has an unchanging rate and stable interest payments during the life of the account. It provides a steady return with minimal risk.
Banks and credit unions offer a variety of non-traditional CDs, too, that may work well depending on your financial goals. It’s best to consult your bank or credit union to review your options before investing. Education Credit Union, which serves Amarillo, Bushland and Canyon, Texas, lists specific information on their website about the CD interest rates and payments they offer.