Tell me about CDs - Mothering Forums

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#1 of 3 Old 02-18-2005, 12:37 AM - Thread Starter
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My grandma always puts her money into these. I know little about them, enlighten me.
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#2 of 3 Old 02-18-2005, 01:16 AM
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#3 of 3 Old 02-18-2005, 11:08 AM
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A CD or Certificate of Deposit will earn a bit more money than a savings account. You get interest rates from 2.5 to 4% or so depending on the bank but you must invest a certain amount of money (between $500 for the smallest interest rate and 100k for the higher rate) for a defined period of time. You get a penalty for early withdrawal.

Your bank's website should have more specific information.
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