Highest Bank CD Rates and Certificate of Deposit explained

So many different ways of investments and it always sums up to the same level of understanding, you earn more money from institution if your willing to give up liquidity. I’ve been doing some research on cd’s and have been looking into them once I saw they started getting athletes and celebrities to promote them at chase. And honestly it’s a little crazy and in a lot of cases not even worth the hassle and I will explain why in the video.

Key Questions Answered

1. Why would you get a cd over a Savings or investment account?

2. What are the benefits and what are the penalties?

3. How does it work and what is it exactly?

Pro Tip
Information is key

Chase Bank is garbage.

So could you explain a cd that has 10k put in it for say 5.25 for 3 months?

Can I earn interest if I have savings & cd account?

Tommy so your saying if i open 5 cd so you mean one cd open it for 1 year. Then open a 2nd cd for two years and the open a 3rd cd for three years..is that what you mean when you said open 5 cd account

So essentially if I’m trying to rack up some money short term (a year) without touching for that time frame , cd is the way to go, however long term being locked in, savings accounts are better ??

Lets say your CD is past maturity. Do you get charged with interest when you withdraw from your CD? Or you can withdraw the whole interest you earned?

Charts would be helpful

So locking up $10k at .02 for a year and only getting $200 doesn’t seem very encouraging but I guess it’s better than just leaving it in the savings account

smart moves

Tommy, I was checking out Fidelity Investments and a CD account for 1 year for 5.15% as soon as I walked into that company to open a CD account for 1 year to earn 5.15% interest, but I did not put any money into my account yet but listen to this. The minute I walked inside that company they now is dropping there 1 year CD rates fast, actually there dropping all there CD rates and 24 hours it went from 5.15% next day 5.10% next day 5.05% it keeps dropping low. I honestly don't know what to do. I even prayed, I had this church pray for me and the minute they received my online prayer about financial investing I don't know if they jinx me but that's when the interest rates with Fidelity Investments went dropping very low. I know they're christians but then again they are still people at the end of the day and when you have a plan you should never share it with anyone.

Has anyone tried the CDs with Ally bank? They say it's 4%.

I want to find out more about this can you help me if it's true from New York City 4:48 PM Wednesday April 19

I am ssi get a check every month direct deposit will capital one The social security set to me a If I go over $2000 they'll stop my track so I'm thinking about opening CD Capital one says social security will not find out

Times have Changed I just got almost 5% on 18 months today!!

Would you use a cd to get more dividends from interest per month and then use those dicidends to invest in the stock market every month?

Check out Citi banking .. I saw they have rates as high as 4.15

I use cds as a safety cushion while I do my investment ventures. I have 12 that are due every month in the amount of my living expenses, so if I lose my job or a deal goes wrong, I am good for a year without making another dime

I am doing this as I gain skills to make more money

My financial institution is currently offering 5.1 percent. I'm definitely going in on that with now having better understanding of how that works. Thanks

Hi, is the APY on a share certificate the same as the interest rate?

yeah honestly this CD account stuff is utterly ridiculous in my eyes.... I put in a certain amount of money that is locked in and I cant touch it for a year just to gain essentially a couple bucks back..... and if I try and touch it or pull that money in the event I need that money I would lose that fixed rate and will have gained nothing (i have a feeling that would be in the contract to help the bank). Why would I waste my time with this BS? I am not throwing shade at the maker of the video or what he has to say, but im throwing shade at the whole CD thing. it just seems like a waste of time to put so much money in to get extremely little back in return..... this is supposed to a type of investment correct? well its a crappy one because I don't get a good return on my investment. that's like buying a house at 350k, then putting 20k into the house only to sell the house for 370.5k.... oh wow you make a profit of a whopping 20,500 dollars but wait you actually only made 500 because you had to spend an extra 20k in order to sell your house at 370.5k... pretend the house is your bank. and you want to put 20k into the back to gain more money. at the end of the interest rate year you (which is where you sell your house) (you go to get your money back) and you only make 500 dollars on your 20k investment... congrats you wasted your time on that house...…(i know that is a very extreme and drastic number to only say you only get 500 in profit from your house but I used it to show the extremely tiny amount you would gain on a CD account) if I put 10k into a CD account and only got 200 dollars in return, I would only have gain 200 dollars. you cant say you gained 10,200 dollars. no. why? because you already had the 10k. you put it in there for a year to gain 200 dollars... so in reality you only gain 200 dollars. that is just a complete waste of time to gain so little when you could go a different route to gain more money. that is just my perspective. you don't have to agree with me at all, and im not going to tell you or someone who to or where to put their money. that's all up to you/them. I just wouldn't do that considering how low the return on investment is.

My bank has a CD program for 4.25 APY for 7 months. It sounds too good to be true. I gotta read the fine print

can someone please answer my question.. i want to open a 3 months CD.. the APY says 4.60%.. if i invest 10,000 how much will i get back in 3 months when my CD matures? it can't be $460.. what woudl be my return? is it $110 for the 3 months?

Hello Tommy. I have a question… Capital One is currently running an offer where you can open up a CD for 11 months and get 5%! 5% APY. To me that seems pretty high. If I have $30,000 in a high-yield savings account only getting 3.65%… Should I put this 30,000 into a single 11 month CD at 5%? Or should I break them up into five different ones for any reason? What would you do? Not sure I want to play the stock market though. My thinking is that this is such a high pay out that putting it all into one CD makes sense. But maybe I could break it up in five just in case I need to pull something out and so the rest of them aren’t penalized? Not sure, help!!

At my bank they say the youngest age to get a CD is age 15. Is there any way around this? What if I want to get a CD for a 3 year old or 5 year old.

learned so much from this video! much appreciated brother.

Dude, you’re talking too much and you keep repeating yourself.

Thanks for the recommendation of investing in knowledge before CDs

I apologize if I missed it, so is it better for me to invest 5k in one CD or have five different CDs with 1k in each?

For veterans and their families Navy Federal always have the best rates for CD accounts

Thank you for sharing your time and your knowledge..
This video was very helpful for me ❤️🙏🏽

I messed up by thinking I was gonna get 3.5 percent back every month of a 10k cd account 🤦🏻‍♂️ later I found out it was for the whole 11 month agreement. So now ima have to wait until my contract is done and get my money back because that is a complete ripoff on behalf of this money hungry corporations

I think CD's and savings accounts are not really worth it, I spend the money if it is laying around my house so that's the only reason I have savings and CD accounts.

I’m a 19 year old entrepreneur (6 years jn) and I recently received my LLC so I am focusing on securing my future because I didn’t go to college and I don’t work a 9-5 so I feel like I have to be a littleeeeee bit more cautious with how I proceed with my finances. Lol long story short thank you for this video !

What the hell do a CD rate 3 years ago got to do it today

Thank you Tommy

Thanks for the informative video bro!

Be mostly debt free before you start investing a bunch of money. Say you pay 6% on a car loan pay that off before investing in a 3% CD

Does anyone know how that rate is determined?

Is a CD a good idea for investing for a child or not?😅

My bank is offering a 30 month 4.08% rate w/ min deposit of $1,000 -

time is money

How is Patelco for CD's?

Thank you, great information!

Super helpful 🎉

You would need to leave $10,000 in it for 80 years to actually see a profit 😂😂

Bro if you say “right” one more time ima kill myself. Yoooooo are you serious. Stop. The fuck. Almost unwatchable when every other word is “right”. Constructive criticism.