Types of CDs

April 13th, 2009 [ Comments ]

Most of us are familiar with the traditional Certificate of Deposit (CD). It is a deposit product that earns a fixed interest rate higher than the savings account for a fixed period of time. CD's are usually availed of by clients who have no immediate plans for their cash and want to enjoy a higher yield for their money in a safe and FDIC-backed investment vehicle. Other than the traditional CD however, do you know that there are also other types of CDs? These non-traditional CDs offer flexible options for depositors who may be looking to explore other CD alternatives. Here are some of the most commonly offered and used non-traditional CDs:

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