What types of CDs (Certificates of Deposit) would be best for me?

You have many different options when choosing a CD that can affect the interest rate. You may be able to get a higher interest rate by selecting a longer term, which means you must leave your money in the CD longer. For example, a two-year CD generally will have a higher interest rate than a six-month CD.

The CD with the highest rate may not always be the best fit for your needs. For instance, if you will need access to the money before the end of the term. You should look closely at the different terms to see what type of CD might be right for you.