Are you looking for a good CD to invest your money into? A certificate of deposit is a great option to consider as it provides you with a higher interest rate for your savings compared to investing your money into other accounts like traditional savings with interest rates of less than .25%. One bank that you might consider investing your money with is the International Bank of Chicago (IBC).
Chapter 1. Why IBC?
Compare CD rates online and you will see that IBC offers one of the highest interest rates out there. Right now their rates are averaging about .10% higher from other banks as they are at about 0.75%. This will allow you to have a great option to save your money compared to other banks that are offering CDs. IBC also provides customers with other accounts as well like Checking and Online Savings Accounts, which all provide you with a great option to save your money.
One of the reasons why IBC continues to be sought after is because they assist in helping a number of minority and immigrant populations. They can easily help individuals that are suffering from poor credit history and other issues and many not have the same type of financial resources as other customers. To help these individuals, IBC provides excellent courses and financial seminars, which are great at helping customers to learn financial management and other things.
Chapter 2. Safety With CDs
One of the reasons why people often choose CD accounts is because they are a low risk investment. As long as you are selecting a bank that is secured by the FDIC, you will have the safety of knowing that your investment is safe.
Chapter 3. Longer Is Better
When you opt for a CD account, your best option is to consider an investment in an account that lasts for 12 months. This will earn you a higher interest rate compared to the 6 month CDs. Investing your money into a CD account is a great option as long as you do not have a problem with the money being locked into the account for that duration. If you need a liquid investment, you are best to consider a different account like a money market account as the interest rates are high and you have the ability to withdraw the money out of the account if you need to.