Cool Financial

This may not be news for anyone who actively invests in certificates of deposit, but I just came across a fantastic tool to help find the best bank CD rates. Bankaholic.com provides a sortable list of online bank CD rates and user reviews:

Investors are always interested in the highest CD rates, but they should also consider what the minimum deposit is, the required term, and whether or not their account is available online. Also, the bank’s history and payout performance should also be factors to consider into the length and amount of the investment. Sometimes the CD rates offered by banks are simply marketing methods to get interested consumers in the door. Having tools like Bankaholic’s list available will help research which rates are true opportunities and which ones are tied to too many limitations. Researching bank offerings is always the best way to find which CD fits best for you.

If you’ve determined that you feel the safest with your money deposited in a certificate of deposit (CD) as an investment option, you’ll need to check your local bank against some of the averages posted for Current CD Rates at a few larger banks nationwide.

You may be surprised to learn that your bank rates are performing differently, for better or worse, from that of other Bank CD rates. With a list to compare against, you have the information you need to make a better informed decision as to where to deposit your investment.

Of course, to get the best interest rates you’ll need to find banks with the Highest Interest Rates. With all these resources available, a little research can make your short-term investment in a CD payout the best return possible.