Jumbo Cd Rates

One of the best things about investing is that there is an option for everyone. People with lots of money to invest who want guaranteed, short term growth can consider a Jumbo CD. Investing in Jumbo CDs is not nearly as simple as it might seem, though. There are tons of different banks that offer these investment products, and each one purports to be the best in the business. How are you supposed to tell the difference when all companies say they offer the best Jumbo CD rates? Use an unbiased, comprehensive source to figure out what each company has, then you can dive into more dedicated research on individual options.

Deciding which Jumbo CD is right for you
For you can start researching Jumbo CD rates, you will need to decide which option is best for you. There are lots of different options out there, from six month terms to five years. If you have a financial adviser, sit down with him and discuss how a Jumbo CD can fit into your short-term and long term plans. Otherwise, figure out what you want to do with your money. If protecting it and getting a guaranteed short-term payout is your goal, then you will want to research six month or one year Jumbo CD rates. This can be especially effective for those people who have a distinct purpose for their money within a year. Otherwise, check out longer-term deals, as these Jumbo CD rates will be higher.

Researching the options
One of the difficult things about researching Jumbo CD rates is that you have to look for not only the best rate, but also the best bank. You will be entrusting your money to the bank and you will need to have a working relationship with that financial institution. This is why you can’t just look at the numbers and make a decision on the right Jumbo CD.

You should, however, start with the numbers. Visit one of the many comparison sites on the net that will give you an idea of what the industry has to offer. A good one to begin with is http://www.bankrate.com/funnel/cd-investments/, as it will allow you to toy around with many different Jumbo CD rates to find the one that suits you the best. This is a site that will spit out a number of different bank options, giving you their rates on different loan terms. You can afford to be selective, as the banks put out nice offers because of the harsh competition in the industry.

As mentioned previously, the rate in itself is not the whole story. You will want to contact any bank that seems to have a good offer on the table, finding out what they can do for you. Find out if they have any fees or expenses that were not originally included in the rate quote. Ask as many questions as possible and see if you can get a feel for what they are all about. If the bank seems accommodating and they have solid Jumbo CD rates, you can then pull the trigger with confidence.