How to Increase the Rate of a CD
- 1). Redeem your current certificate of deposit with the bank of other issuing institution. It is recommended that you wait until the maturity date of the CD prior to redemption, in order to avoid penalties.
- 2). Find a bank or other institution that offers what is known as a rising rate certificate of deposit.
- 3). Invest your money into a rising rate CD that currently offers at least the same interest rate as your prior certificate of deposit. As CD interest rates rise, the rate of your CD will also rise.
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