Highest New York CD (Certificate of Deposit) Rates

Is your baby girl turning 16? Start savings early so you won't have to take out a loan for the big celebration. Once you have the full amount, you can even add a few hundred dollars by purchasing a certificate of deposit from your trusted bank! Or you can shop around for the best rates in the industry. This article lists the top NY-New York CD (Certificate of Deposit) Rates which can enough to cover the party your teenager is dreaming of!

Compare the Best CD Rates in New York

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Sweet 16 party for your kid? Get yourself ready with competitive New York CD (Certificate of Deposit) Rates

A Sweet 16 party is one of the events in a teenager's life that they look forward to. Have you watched MTV's Sweet 16? Those are the luckiest kids on the planet! At that young age they are given a party accommodating a hundred to almost all the kids in their school plus a car or an expensive trip to another country. Of course, what parent doesn't want to have this kind of privilege for their child on their most important day of young adulthood, right? So we want to give them as much as we can.

Certificate of deposits are commonly used for investment and they just need New York CD (Certificate of Deposit) Rates to get better earnings. Tell you, what? You can also use this as back up when your savings and credit cards are not enough to cover the expenses for the party. You have to start earlier though because if you purchase one now and the birthday is 6 month from now, it will not do you any good. Yes you can earn a little if you got yourself good New York CD Rates but if you really want to prepare for your child's birthday bash, you really need to start early on, a few years early.

Give yourself at least a year or two for accrued interest and earnings to be a little bit more significant. The longer it accrues interest, the more you will get aside from what you initially put in. If you want, you can also, let your child be involved in this process. This way you are able to show that you know that that day is important and you are trying your best to get them what they want. They will totally appreciate you for doing it. Just explain to them how it works and how long you will need to be there for it to earn. Being excited as teenagers are when they know this is for them, you might find them wanting to contribute to the money you will be putting in so just let them, teamwork!

Now, if you already have the money prepared, you can now start shopping for New York CD Rates. You need to land on a high rate for you to get the best out of the investment. Low rates will give you less amount of accrued interest and you would want your money to grow bigger not just a little bit. You have to look for a secured bank, a bank or an institution that will only use your money for their profit. We have what we call the FDIC of the Federal Deposit Insurance Corporation. This entity insures the amount of money that you put in the affiliated company you had your deal with in case something happens to them. After you have decided on what bank and what top New York CD Rates you are able to find, call the bank and ask for more details about it before you purchase the certificate of deposit with them.

If you have done all that, all you need to do is to wait for the day to come. If it has then you'll have your saved up money, plus a little bit more to add to the best sweet 16 party in the neighborhood - And this with the help of CDs and good New York CD Rates.

CD Rates by State:

ONLINE SAVINGS ACCOUNT

  • No minimum balance
  • Competitive rates, No risk

MONEY MARKET ACCOUNT

  • High rates, Access to money
  • FDIC Insured

CD Types


CDs Overnight Averages

Product
Yield
+/-
Last week


3 Mo CD
0.11
-
0.11


6 Mo CD
0.17
-
0.17


1 Yr CD
0.26
-
0.26


1.5 Yr CD
0.33
-
0.33


5 Yr CD
1.02
-
1.02


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