Investments

If you are looking for a safe investment and you have between $100 -$1,000 to invest, you should consider a certificate of deposit or CD. When purchased through a bank, CD's are
federally insured up to $100,000.

Bank Of America Investment When you invest in a certificate of deposit, you are lending your money to the bank for a set period of time at a fixed rate of interest. At the end of that time period, the bank pays you back your investment with the interest you've earned. The annual interest earned is reflected by the annual percentage yield or APY.

James Dimmitt If you are looking for a safe investment and you have between $ $1, 000 to invest, you should consider a certificate of deposit or CD. When purchased through a bank, CD's are federally insured up to $100, 000. When you invest in a certificate of deposit, you are lending your money to the bank for a set period of time at a fixed rate of interest. At the end of that time period, the bank pays you back your investment with the interest you've earned. The annual interest earned is reflected by the annual percentage yield or APY.

Investment Opportunity There are several details to consider before investing in a CD. First, find out when the CD will mature? Banks offer certificates of deposit with maturities ranging from 3-months to 10-years or more. Figure out how much to safely invest and how long you feel you can leave that money alone so that it earns interest. Also, make sure you get the maturity date in writing.

Savings and Investment Products Before opening a savings or investment account with a bank or other financial institution, find out whether the account is insured by the federal government (FDIC or NCUA). An increasing number of products offered by these institutions, including mutual stock funds and annuities, are not insured. To earn the highest return on savings (annual percentage yield) with little or no risk, consider certificates of deposit (CDs) and treasury bills or notes.

Banc Of America Investment Second, you'll want to know the annual percentage rate (APR) you'll earn on your investment. Investing larger sums for longer terms usually earns the best interest. However, even a small investment can earn you higher interest than a traditional passbook savings account.

If you have a sum of money from a job or a gift, consider investing it. This probably isn't the time to try day trading or Las Vegas style speculation; you just might need that cash in the near future! Investigate safe (slow growth) investments such as a bank Certificate of Deposit or a mutual fund. Speculative investments are out unless you have a lot of money that you can afford to lose.

Banking Investment Next, find out how the interest is compounded - daily, monthly, or annually? Daily compounding is best because it earns you more interest. You can shop for the best CD rates at http://www.bankrate.com or check with your personal banker.

Withdrawals can only be arranged online. Minimum investment .00. Maximum investment million. Additional deposits can be made at any time subject to a .00 minimum transaction amount. Opening and additional deposits can be made by transfer from a bank or building society account, transfer from an existing Northern Rock account or cheque sent by post. The minimum cheque deposit amount is 50.

Investment Solution Strategic Shopping on the internet, I found rates for a $1,000 1-year CD in my local area ranging from 2.96 to 3.97 APR and a 3.00 to 4.05 APY respectively. So if I invested $1,000 at 2.96 APR, at the end of 12 months I'd get paid $1,030.00 by the bank (figures computed with interest compounded monthly). That same
$1,000 invested at a rate of 3.97 APR would return $1040.43.

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Investment Banking Services Interest rates are usually locked in for the term of the CD, although some banks allow you to take advantage of higher interest rates by converting your CD. This type of CD is called a "step up" CD. Generally, banks will only let you "step up" once during the term of the CD.

Bank Investment What happens if you withdraw your money before the certificate of deposit matures? Your bank will impose an early withdrawal penalty, which can vary depending upon the maturity date and the amount invested. It's important to invest only money you can truly afford to leave alone for the term of the CD.

Alternative Investment As with any investment, make sure you understand all the terms,
fees, and any penalties before you purchase.

Online Investment Services James is editor of "TO YOUR CREDIT", a free weekly newsletter with tips to help you manage your personal finances. Subscribe today and receive his e-book "IDENTITY
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