How to Invest in a 9 Month CD

What is a 9 Month CD?

A 9 month CD is a bank security loan for a term of 9 months. A bank CD is very similar to having a savings account, and is often referred to as having "money in the bank" because it is virtually a risk free investment. After the term has ended, you are allowed to cash in the bank CD for the amount of your deposit plus the rate of the bank cd.

Finding the lowest Bank CD Rates

Finding the lowest bank cd rates can be a challenge. Many local banks in your neighborhood or town might advertise in the local newspaper, or the local radio stations. Often banks will have their CD rates posted on their outside signage as well. So, it helps to pay attention as you travel through your town on a daily basis. Try the internet as well! Most banks have an online version for their clients.

Purchasing the Bank CD

Once you have located the bank with the lowest cd rates, you will want to go ahead with your bank CD purchase. Any bank teller will be able to assist you with your bank cd purchase. All bank tellers will be very educated about the bank cd's they offer. This is a great time to ask any questions you might have and discuss the length of the cd you will purchase. Banks offer cds in 3 month, 6 month, 9 month, 1 year, and 5 year terms.

Cashing in your CD

After the length of your CD has expired, you simply need to return to the bank where you purchased your CD to collect your original investment as well as the rate of interest owed to you. Many people just turn around and purchase another bank cd to earn even more income from their investment.

Tips

• Be sure your 9 month cd is insured by the FDIC.
• Shop around for the best bank cd rate.
• Sometimes smaller banks have lower rates than the larger and more popular banks in your area.
• Search the internet to find the best cd rates

Video tips for investing in CD's