Lexington, KY CD Rates and Interest Income Investments

You have worked hard to save your money, now it’s time to make your money work hard for you. Investing your money is the easiest way to make your net worth grow, even while you sleep. Depending on the amount of funds you have to invest and your investment goals, you will want to research the different options carefully.

Get Best CD Rates

Lexington Banking Rates can make that research easier. We will assess your individual needs to connect you with Lexington banks and investment brokers providing the highest rates of return based on your financial goals.

Current Lexington CD Rates News

 

Best Lexington CD Account Rates

Featured RateBank / Credit UnionAccount Type
1.80%
As of August 30, 2010

View Rate Details
Discover Bank
Discover Bank
CD Account
Highest Rates Recent Rate Changes
Best Rates (APY)Bank / Credit UnionAccount Type
1.92%
As of August 13, 2010
View Rate Details Members Heritage Credit UnionCD Account
1.80%
As of August 31, 2010
View Rate Details King Southern BankCD Account
1.75%
As of August 26, 2010
View Rate Details Kentucky Employees Credit UnionCD Account
1.71%
As of August 30, 2010
View Rate Details First Federal Savings Bank of FrankfortCD Account
1.70%
As of August 30, 2010
View Rate Details First Federal Bank KentuckyCD Account
0.00%
As of June 11, 2010
View Rate Details Citizens Commerce National BankCD Account
Bank / Account TypeRate ChangeDate
 First Federal Bank Kentucky - 12 Month CD Account1.40% to 1.35%Aug 30, 2010
 

Best CD Rates, IRAs and Investments in Lexington

Lexington Banking Rates want to help you earn money, save money and put yourself in the best position for your own financial situation. If you have a savings account that you do not need for the rest of this year, it may be a good idea to invest into a 6-12 month CD and take advantage of the higher interest rates. You can earn up to 1% or more in a CD versus a savings account with a $5000 CD over 10 years; that can be over $500-$1000 more in interest payments with the higher CD rate.

Many local Lexington credit unions offer competitive CD rates, money market accounts and IRAs, as do the larger national banks. If you want to get the highest interest rates, be sure to thoroughly research banks with the best offers before you make your decision. Lexington Banking Rates has relationships with many banks to maximize the potential of finding the best rates.

CD Rates When Interest Rates are Falling in Lexington, KY

A clear advantage of investing in CD‘s is that CD Rates are fixed, meaning you lock in an interest rate for the entire term of the CD, and it does not change. When interest rates are dropping, your CD stays at a higher rate. If you money is in a savings account, or interest paying checking account, your interest rate will drop daily, if rate are falling. Learn from Lexington Banking Rate partners if rates are falling or rising, and make the right choice to earn more money.

Which CD Type Should You Choose?

CDs or certificates of deposit offer higher interest rates than many other types of savings. Where a regular savings account might offer a 0.10% APY, long term CDs can offer rates higher than 2.00% APY. However, because CDs are a timed investment, many people are afraid to invest too much money into CDs. Your financial attitude can help determine what type of CD is right for you. Consider which profile fits you best before choosing a CD.

Risk taker. Bump up, callable, or long term traditional CDs are probably the best options for your attitude. Bump up CDs allow you to trade your current interest rate in for a higher one at some point during your CD term, but you have to be savvy enough to know when the rate is high enough for you to be willing to bump it up. Callable CDs allow banks to readjust your interest rate after the callable period. If you get the right high rate at the beginning, it could be worth the risk. Finally, long term CDs can take years to mature, so you have to be willing to put that money away and not see it for awhile. Each of these investments requires some financial know-how and the desire to take a risk.

On the fence. Medium term traditional or brokerage CDs are your two choices. Medium term CDs come with lower interest rates than longer terms, but you will only wait a couple months or a little over a year for your money to mature. Brokerage CDs are backed by the FDIC and are insured as long as you keep them in for the full time period. Both of these options come with slight risks for the average investor.

Very cautious. Short term traditional CDs or liquid CDs are your best bet. Short term CDs can take only a month to mature, but they come with much lower interest rates than longer terms do. Liquid CDs allow you to withdraw money from the CD and still let it mature. Both of these allow access to your money, but come with lower interest rates as a consequence.

Once you choose which type of CD you want, let Lexington Banking Rates help you find the highest CD rates in your area.

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