Banking
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How to open a certificate of deposit (CD)
Banking
Everything you need to know about opening an account.
![Woman sitting outside of restaurant looking at cell phone](https://www.bankrate.com/2022/02/15095640/How-to-save-money-from-scratch.jpg?auto=webp&optimize=high&crop=16:9&width=320)
How to start saving (even if you’re starting from scratch)
Banking
Getting into the habit of paying yourself first is hard. Here are some ideas to help you start.
![Two millenial friends using mobile phone.](https://www.bankrate.com/brp/2023/11/20014206/How-to-transfer-money-from-one-bank-to-another.jpg?auto=webp&optimize=high&crop=16:9&width=320)
How to transfer money from one bank to another: 4 ways
Banking
Keep fees in check when you shift money from one bank account to another.
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Experts in all things banking
Our expert reporters and editors bring the news and analysis you need—backed by data and firsthand experience.
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Chief Financial Analyst
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Principal U.S. Economy Reporter
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Senior Economic Analyst
Banking data studies
![Money next to flashing sirens](https://www.bankrate.com/2023/02/15173759/Banking-Emergency-Savings-Survey.jpg?auto=webp&optimize=high&crop=16:9&width=320)
If you’re struggling to pay off debt and build savings, you’re not alone.
![Piggy bank with doctors equipment. Cute and comical](https://www.bankrate.com/brp/2024/07/12173049/Banking_FHE_Why_Im_scheduling_a_mid_year_financial_checkup_with_myself_and_how_Im_doing_it.jpg?auto=webp&optimize=high&crop=16:9&width=320)
I’m a personal finance reporter — here’s how I did a mid-year financial checkup in under an hour
Banking
A mid-year checkup is the most effective way to ensure my finances are on track.
![And elderly couple discussing HYSA options](https://www.bankrate.com/2024/03/13131722/Deposits_March_FSP_High_yield_Savings.jpg?auto=webp&optimize=high&crop=16:9&width=320)
Two-thirds of American savers say they’re earning rates below 4% APY. Here’s why.
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Walk away with stacks of cash just for opening a checking or savings account.
![Aerial view of a group of residential boat docks from homes along the Halifax River in Ormond Beach, Florida near Daytona](https://www.bankrate.com/brp/2024/09/05151457/Best-banks-if-you-live-in-Florida.jpg?auto=webp&optimize=high&crop=1:1&width=356)
Managing your finances and choosing the right bank can be daunting, especially in a state as big and diverse as Florida.
![Stacks of money lined up against a colorful red background](https://www.bankrate.com/brp/2024/09/03173142/Matt-opens-a-CD.jpg?auto=webp&optimize=high&crop=1:1&width=356)
I’ve been in financial services for nearly 14 years and have helped customers with the most common deposit products, but this month was the first time I opened a certificate of deposit (CD) for myse [...]
![Person Putting Coin In Piggy Bank At Table](https://www.bankrate.com/brp/2024/09/03153500/LendingClub-new-hysa.jpg?auto=webp&optimize=high&crop=1:1&width=356)
Savers can still earn yields on deposit accounts that are outpacing inflation, even as some yields have decreased recently as banks anticipate a likely Federal Reserve rate cut in September. One such option [...]
![Woman online banking with a tablet](https://www.bankrate.com/2019/06/13123811/Hoe-regulation-D-limits-your-savings-accounts-withdrawls.jpg?auto=webp&optimize=high&crop=1:1&width=356)
How Reg. D impacts your savings account and why it pays to check with your bank.
![Young couple paying bills online](https://www.bankrate.com/brp/2022/06/03125555/Deposits-Online-Bill-Pay-What-is-it-and-why-its-a-good-idea.jpg?auto=webp&optimize=high&crop=1:1&width=356)
Online bill pay can add convenience and security to managing your routine bills.
![Cash in gloved hand](https://www.bankrate.com/brp/2023/12/03124142/Deposits_6_ways_to_deposit_cash_into_someone_elses_account.jpg?auto=webp&optimize=high&crop=1:1&width=356)
Depositing cash into someone’s account isn’t always possible, but there are options.
![white-collar woman looks tired in the office](https://www.bankrate.com/brp/2024/08/30170114/Are-we-in-a-recession.jpg?auto=webp&optimize=high&crop=1:1&width=356)
Despite strong economic indicators, many Americans are experiencing a “vibecession.”
![Person Putting Coin In Piggy Bank At Table](https://www.bankrate.com/brp/2024/09/03153500/LendingClub-new-hysa.jpg?auto=webp&optimize=high&crop=1:1&width=356)
Savers can still earn yields on deposit accounts that are outpacing inflation, even as some yields have decreased recently as banks anticipate a likely Federal Reserve rate cut in September. One such option [...]
![Woman online banking with a tablet](https://www.bankrate.com/2019/06/13123811/Hoe-regulation-D-limits-your-savings-accounts-withdrawls.jpg?auto=webp&optimize=high&crop=1:1&width=356)
How Reg. D impacts your savings account and why it pays to check with your bank.
![Whimsical illustration of a hand putting a quarter into a miniature but realistic high end safe. As if it were a piggy bank](https://www.bankrate.com/2023/08/05141131/What-is-the-average-interest-rate-for-savings-accounts_.jpg?auto=webp&optimize=high&crop=1:1&width=356)
Comparing savings rates can ensure you get the best return on your savings.
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Get the latest rates on top-yielding money market accounts.
![woman managing personal banking and finance at home](https://www.bankrate.com/brp/2024/08/29165101/How-to-change-up-your-savings-strategy-as-a-freelancer.jpg?auto=webp&optimize=high&crop=1:1&width=356)
Working as a freelancer requires a new approach to saving money. Here’s how.
![man working on his laptop outdoors](https://www.bankrate.com/2022/05/04174008/10-saving-and-investing-tips-for-all-ages.jpg?auto=webp&optimize=high&crop=1:1&width=356)
No matter your age, these tips can help you improve your financial situation.
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Whether you hope to buy a home or just rent for a while, a solid savings plan is the key to finally moving out of your parents’ house.
![Someone watering a plant that grows cash](https://www.bankrate.com/2023/07/11163135/Deposits-Heres-how-much-100k-in-a-HYSA-could-earn-you-in-a-1-year.jpg?auto=webp&optimize=high&crop=1:1&width=356)
Here’s how much $100,000 in a high-yield savings account can earn you.
![A man does research on his laptop.](https://www.bankrate.com/2021/03/02173123/what-is-an-add-on-cd.jpeg?auto=webp&optimize=high&crop=1:1&width=356)
Add-on CDs can offer more flexibility than a traditional CD.
![Woman watering plants.](https://www.bankrate.com/2024/03/20194528/Current_CD_rates.jpg?auto=webp&optimize=high&crop=1:1&width=356)
Check out the latest CD rates from Bankrate’s weekly survey of banks and thrifts.
![US dollar bills against blue background](https://www.bankrate.com/2021/09/28160419/Bump-up-CDs-what-they-are-how-they-work.jpg?auto=webp&optimize=high&crop=1:1&width=356)
If you think rates may rise again soon, a bump-up CD could be what you’re looking for.
![A large pile of cash next to a padlock](https://www.bankrate.com/2023/07/11154309/Deposits_Heres_how_much_100000_in_a_CD_could_earn_you_in_a_1_year.jpg?auto=webp&optimize=high&crop=1:1&width=356)
A one-year CD can be a safe and worthwhile option, especially turning to high-yielding online banks or credit unions.
![Elderly woman on laptop](https://www.bankrate.com/2021/08/24093332/How-much-money-should-you-keep-in-a-CD.jpg?auto=webp&optimize=high&crop=1:1&width=356)
Some CDs require a minimum deposit of $100,000, but these accounts are not for everyone.
![cash folded into a piggy bank shape](https://www.bankrate.com/brp/2024/07/20170405/Deposits-Best-business-CD-rates-for-September-2024.jpg?auto=webp&optimize=high&crop=1:1&width=356)
These seven banks and credit unions offer competitive rates on CDs for businesses.
![Young couple managing finance and investment online](https://www.bankrate.com/brp/2024/08/09090227/interest-rates-on-top-yielding-cds-are-dropping.jpg?auto=webp&optimize=high&crop=1:1&width=356)
There’s still time to lock in a high-yielding CD as the Fed suggests cutting rates.
![Man at laptop, deep in thought](https://www.bankrate.com/brp/2024/06/01164558/Investing-The-pros-and-cons-of-CD-investing.jpg?auto=webp&optimize=high&crop=1:1&width=356)
Certificates of deposit offer peace of mind, but they’re not without some drawbacks.
![Woman online banking with a tablet](https://www.bankrate.com/2019/06/13123811/Hoe-regulation-D-limits-your-savings-accounts-withdrawls.jpg?auto=webp&optimize=high&crop=1:1&width=356)
How Reg. D impacts your savings account and why it pays to check with your bank.
![A guide to mutual funds](https://www.bankrate.com/2021/06/28114842/GettyImages-1325420913.jpg?auto=webp&optimize=high&crop=1:1&width=356)
Not sure how to get started investing with mutual funds? We’ll help you understand the basics.
![Man working on laptop and drinking coffee](https://www.bankrate.com/2023/05/01122348/GettyImages-1364881817.jpeg?auto=webp&optimize=high&crop=1:1&width=356)
Money market funds are available from several different brokers and fund managers.
![Ally Bank logo](https://www.bankrate.com/2024/04/07120151/Deposits-Ally-money-market-account-rates-3.jpg?auto=webp&optimize=high&crop=1:1&width=356)
Ally’s money market account offers a high APY, no minimum deposit or monthly fee.
![Best compound interest investments](https://www.bankrate.com/2022/04/05140817/GettyImages-665950548.jpg?auto=webp&optimize=high&crop=1:1&width=356)
The name of the game with compound interest is time — the more of it you have, the bigger the payoff.
![Woman smiling at cash on a cloud](https://live-bankrate-press.pantheonsite.io/app/uploads/2024/02/Investments_What_is_a_money_market_fund.jpg?auto=webp&optimize=high&crop=1:1&width=356)
Lay away cash for an emergency or short-term goals with a money market mutual fund.
![woman at ATM](https://www.bankrate.com/2022/01/03120505/Untitled-15.jpeg?auto=webp&optimize=high&crop=1:1&width=356)
Our picks provide customers with almost everything they need to bank in the branch, at home or on the road.
![Savings account and money market rate forecast](https://www.bankrate.com/2024/01/01230300/Central-savings-money-market-account-rate-forecast.jpg?auto=webp&optimize=high&crop=1:1&width=356)
Expect savings and money market account yields to slide lower, but they still should outpace inflation
![woman doing headstand](https://www.bankrate.com/2020/11/25135424/Deposits_What_is_the_available_balance_in_your_bank_account.jpg?auto=webp&optimize=high&crop=1:1&width=356)
Your bank accounts have two separate balances: the current balance and the available balance. Here’s the distinction.
![Young woman using the ATM](https://www.bankrate.com/brp/2023/08/17135352/Deposits-ATM-withdrawal-limits-How-much-money-can-you-take-out.jpg?auto=webp&optimize=high&crop=1:1&width=356)
Knowing your ATM withdrawal limits can make a sudden need for cash easier to handle.
![](https://www.bankrate.com/2017/10/23172639/what-to-know-about-cashier-checks.jpg?auto=webp&optimize=high&crop=1:1&width=356)
This old-school way of paying is still in demand. Here’s everything you need to know.
![Man handing cloths to cashier](https://www.bankrate.com/2021/10/22131338/Do-you-need-overdraft-protection.jpg?auto=webp&optimize=high&crop=1:1&width=356)
Overdraft protection can be a helpful and convenient tool to avoid paying a steeper overdraft fee.
![Man folds his hands in front of his face](https://www.bankrate.com/2017/10/13120108/banks-denied-you-for-a-checking-account.jpg?auto=webp&optimize=high&crop=1:1&width=356)
Your banking past has come back to haunt you. Here’s how to ask for a second chance.
![woman standing next to bike and looking at phone](https://www.bankrate.com/2021/10/22140628/What-is-overdraft-protection.jpeg?auto=webp&optimize=high&crop=1:1&width=356)
If you overdraw your account frequently, then overdraft protection could be a good way to avoid hefty overdraft fees.
![remote check deposit](https://www.bankrate.com/2022/06/01133208/cashing-old-checks.jpg?auto=webp&optimize=high&crop=1:1&width=356)
There’s a right way to handle old checks. The wrong way can cost you.
![Man sitting outside on smartphone](https://www.bankrate.com/2022/09/02095146/Overdraft-fees-vs-NSF-fees-how-they-differ.jpg?auto=webp&optimize=high&crop=1:1&width=356)
Here’s how these two bank fees compare and how to best avoid them.