A Certificate of Deposit or CD requires a minimum $500.00 investment. The highest possible interest rates are paid for time period options varying from 91 days to 5 years. For your convenience, CD's may be automatically renewed so you will not have to miss a single day's interest earned.
An Individual Retirement Account is a savings plan that allows you to set aside money for your retirement. Contributions to the plan may be tax deductible and the earnings are not taxed until they are distributed to you. You may set up an IRA for your spouse whether or not he/she has compensation. An IRA Certificate of Deposit is issued at competitive interest rates for varying time periods.