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Assuming a Boat Loan
Financing Breast Implants
About CD Accounts
About Different Types of Interest Rates
About Different Types of Credit
About Flex Budgeting in Accounting
About the Consequences of Credit Card Abuse
About the Disadvantages of a Credit Card
About the Hidden Costs of Home Equity Loans
Determining Credit Score
About Home Equity Line of Credit Loans
About Home Equity Lines of Credit
About Home Equity Interest Rates
About Home Equity Loan Interest Rates
About Home Equity Loan Rates
Endorsing a Check for a Minor
About Different Types of Credit Cards
Endorsing Checks for a Joint Account
Can Debit Cards Establish Credit?
About Financial Statements
About Different Types of Loans
Building Credit After Bankruptcy
Calculating APR for Credit Cards
Consolidating Credit Cards
Consolidation Loans for Non-Homeowners
Credit Card Advice
Credit Card Balance Transfers With Poor Credit
Fixed APR Credit Cards
Getting a Prepaid MasterCard With No Credit Check
How Do Savings Accounts Work?
Summary: CD accounts, for certificates of deposit, are bank instruments in which a short term is used to accrue interest on a given amount of money. Find out how interest gets compounded over a period of time with help from a registered financial consultant in this free video on money management and personal finance.
Patrick Munro's affinity for investing and financial matters began more than 20 years ago with business education and service throughout the ranks of the banking, insurance and...read more
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"This is financial adviser, Patrick Munro, talking about CD accounts. Certificates of deposit. These are bank instruments that savers are able to take money to a bank and in a short term time horizon give that money to the bank for the purpose of occurring interest. Most notably the interest is compounded over a period of time, ranging from three months normally to six months to a year, sometimes as far as five years. The longer you have as a time horizon that you give your money to the bank in the form of a certificate of deposit, the higher the interest rate that you'll achieve. It's notable though, that certificates of deposit are also known as certificates of disappointment, because you have to pay the taxes on the gain that comes from the CDs. CDs of course in this interest rate environment are not paying a lot relative to inflation. So be mindful of that when you shop for the best for the best rate. This is Patrick Munro talking about certificates of deposit."
eHow Article: About CD Accounts
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