How to Get the Best CD Rate

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By Erin Huffstetler
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Certificates of deposit, commonly referred to as CD's, are a great place to sink emergency funds or short-term savings. Read on to learn how to make sure you get the very best return on your investment.

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Difficulty: Moderately Easy

Instructions

Things You'll Need:

Internet access
A newspaper

How to Get the Best CD Rate

Step 1

Use a website like bankrate.com to compare national CD rates.
Step 2

Then, check the rates at several Internet-only banks. Since these banks don't have to shoulder the cost of maintaining local branches, they are typically able to offer better interest rates.
Step 3

Check your local newspaper for special promotional rates.
Step 4

If you already have CD's at a financial institution, check to see if they offer higher rates for existing customers.
Step 5

Consider a longer CD term to earn a higher interest rate.