The financial market has changed a lot in the past few years. Cleveland certificate of deposits use to be offered with interest rates as high as 5 percent.
Since 2008, it’s been difficult to find rates above 2.5%. CDs were a great option when those interest rates were hitting their peak. So are they still worthwhile?
In short, yes and no.
Many financial experts believe CDs are a good way to invest if you can find an interest rate around 2 percent or higher. Many banks are offering rates below 1 percent, and in that case, financial experts agree that a CD is not the best place for your money.
But there are still banks offering competitive Cleveland CD rates and Cleveland Banking Rates can help you find them. If you find a rate worthwhile, you can get in touch with the bank immediately and start investing today!
