What Your CD Test Score Means

Find Out What CD Is Right For You

If you’re looking for an investment that protects your principle while giving you a higher return than traditional savings accounts, Certificates of Deposit (CDs) are a smart option. They are FDIC insured which means that your money is protected by the US Government up to $100,000. To help you decide whether a short-, medium- or long-term CD is right for you, compare your test score to the chart below.

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CERTIFICATE OF DEPOSIT CHART

If Your CD Test Score is…

Under 70 points:

You need a lot of liquidity, so a CD may not be right for you. Keep accumulating money in an investment savings account, like a money market account.

70 to 80 points:

You need some liquidity, but you can afford to lock your money in for a short period of time. Choose a short-term CD that matures in 7 days to 12 months, and match the maturity date to your needs.

85 to 95 points:

You will probably require access to your funds within the next 12 to 24 months. Select a medium-term CD that matures in 1 to 2 years, and match the maturity date to your needs.

100 points or more:

You can afford to take advantage of the higher interest rates a long-term CD yields. Consider a CD that matures in 2 to 10 years, and match the maturity date to your needs.


The above chart is for your information only. Be sure to consult a customer service representative before opening a certificate of deposit or money market account. ©2014 The Forms Group, All Rights Reserved.

 

Certificates of Deposit RatesIcon for: Rates

Term Rate APY*
91 Days .10% .10%
6 Months .15% .15%
18 Months .40% .40%
24 Months .60% .60%
36 Months .75% .75%
48 Months .80% .80%
60 Months 1.10% 1.09%
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*Annual Percentage Yield is accurate as of 00/00/14 and is subject to change without notice. A $500 minimum balance is required to obtain the APY. There may be a penalty for early withdrawal.