Can anyone give me information on Bank CD's?
Answers: You loan a specific amount of money to the financial institution for a specific amount of time and in return receive a specific amount of interest. You have the right to get your money at any time but will lose the interest.
A certificate of deposit or CD is a time deposit, a financial product commonly offered to consumers by banks, thrift institutions, and credit unions.
Such CDs are similar to savings accounts in that they are insured and thus virtually risk-free; they are "money in the bank" (CDs are insured by the FDIC for banks or by the NCUA for credit unions). They are different from savings accounts in that the CD has a specific, fixed term (often three months, six months, or one to five years), and, usually, a fixed interest rate. It is intended that the CD be held until maturity, at which time the money may be withdrawn together with the accrued interest.
In exchange for keeping the money on deposit for the agreed-on term, institutions usually grant higher interest rates than they do on accounts from which money may be withdrawn on demand, although this may not be the case in an inverted yield curve situation. Fixed rates are common, but some institutions offer CDs with various forms of variable rates. For example, in mid-2004, with interest rates expected to rise, many banks and credit unions began to offer CDs with a "bump-up" feature. These allow for a single readjustment of the interest rate, at a time of the consumer's choosing, during the term of the CD. Sometimes, CDs that are indexed to the stock market, the bond market, or other indices are introduced.
A few general rules of thumb for interest rates are:
The larger the principal, the higher the interest rate.
The longer the term, the higher the interest rate. (Unless the yield curve is inverted.)
The smaller the bank, the higher the interest rate.
Personal CD accounts receive higher interest rates than business CD accounts.
How CDs work
The consumer who opens a CD may receive a passbook or paper certificate, but it now is common for a CD to consist simply of a book entry and an item shown in the consumer's periodic bank statements; that is, there is usually no "certificate" as such.
At most institutions, the CD purchaser can arrange to have the interest periodically mailed as a check or transferred into a checking or savings account. This reduces total yield because there is no compounding. Some institutions allow the customer to select this option only at the time the CD is opened.
Commonly, institutions mail a notice to the CD holder shortly before the CD matures requesting directions. The notice usually offers the choice of withdrawing the principal and accumulated interest or "rolling it over" (depositing it into a new CD). Generally, a "window" is allowed after maturity where the CD holder can cash in the CD without penalty. In the absence of such directions, it is common for the institution to "roll over" the CD automatically, once again tying up the money for a period of time (though the CD holder may be able to specify at the time the CD is opened not to "roll over" the CD).
CDs typically require a minimum deposit, and may offer higher rates for larger deposits. In the US, the best rates are generally offered on "Jumbo CDs" with minimum deposits of $100,000 (though some, recognizing that some investors don't want more in the account than is covered by FDIC insurance, have lowered the minimum deposit to $95,000). However there are also institutions that do the opposite and offer lower rates for their "Jumbo CDs".
Withdrawals before maturity are usually subject to a substantial penalty. For a five-year CD, this is often the loss of six months' interest. These penalties ensure that it is generally not in a holder's best interest to withdraw the money before maturity—unless they have another investment with significantly higher return or have a serious need for the money.
CD refinance
In the U.S. insured CDs are required by the Truth in Savings Regulation DD to state at the time of account opening the penalty for early withdrawal. These penalties cannot be revised by the depository prior to maturity. The penalty for early withdrawal is the deterrent to allowing depositors to take advantage of subsequent enhanced investment opportunities during the term of the CD. In rising interest rate environments the penalty may be insufficient to discourage depositors from redeeming their deposit and reinvesting the proceeds after paying the applicable early withdrawal penalty. The added interest from the new higher yielding CD may more than offset the cost of the early withdrawal penalty.
please be specfic with your question
what would you like to know,
a blank cd holds up to 650 to 700mb and sometime 800mb
a bland dvd holds up to 4.7gb to 8gb for double sided
a blank blueray disc hols up to 25gb to 50gb
hope this helps
How should I move about more or less getting a will written?
Firstly my circumstances so that you can consider this when providing a response:- I am 28 years old, single, mum and dad alive and hold 2 sisters (one married). I have 2 properties, run my own business, a clean bank be a foil for, and invetsments in stocks and gold ingots bullion, and a nice car. I enjoy 2 large mortgages and a student loan, so whilst owning rather a bit I also have life-size but manageable debts. Not rich by any mechanism but have responsibilities. My familial is small and depend on me a lot when it comes to financial decision, so my accountant has told me that I realy should bring a will written.I did some G00GLE searching and really confused as to how I should move about about this.
Considering my circumstances, do you reckon I can use one of those cheaper online will writing services, or do you think I should go and get it done by a solicitor? If your view is the latter, how much would it cost to use a solicitor surrounded by London and can you recommend anyone?
Thanks in mortgage for your help.
Answers: Your circumstances are slightly complicated, therefore I wouldn't suggest doing it yourself, through on-line services, or even through your sandbank. The wording has to be so exact, otherwise intentions can be misrepresented or misunderstood. Am reminded of an outmoded farmer who moved out "all to Mother". His estate go all to his Mother, when he intended his wife.(In the Westcountry spouses quite commonly call respectively other "Mother" and "Father".)
I think you entail a solicitor. Being in Devon, I can't recommend a London one, but the more exclusive the address, the more they will charge. However, it's worth paying more to ensure your intentions are clear, and easier for those not here behind. Cost may depend on will complexity.
Do chose reliable relations to be executors. Don't have a solicitor or sandbank manager. Their fees are horrendous. Also do not forget to bequeath your parental rights for the extent until your children come of age. I had trouble this instrument when a 14 year old relative be unexpectedly left an stray, with money tied up (you can't make a contribution it to them until they are 18), and no one responsible for her. You must take agreement from the people nominated. They don't necessarily enjoy to have the child living beside them, just be of a mind to make arrangements and organise investments.
Gary M clearly doesn't fathom out that the REASON you aren't "short of a few bob" is that you actually think through that "big money" is composed of lots & lots of pieces of "small money", LOL!
You can buy very cheap will-writing software at any considerable store, and since your circumstances don't sound "unusual" that will almost really suffice.
To have a will prepared at singular 28 suggests that you have satisfactory of the "boy scout" in you (be prepared!) that barring things NO-ONE can control, you will live to be 100!
Go to a solicitor. They can do adjectives the 'if more than one in equal parts thereof' stuff. They may in good health think of conditions and events that would affect your estate that would never enjoy crossed your mind. If you draft your own will, and it turns out to be invalid or ambiguous then the unbroken amount could be taken up with sorting out the legalities.
EDIT Do presume twice about making a wall or a solicitor your executor. They can cost a lot of money at best and cost loads AND adjournment things for years at worst
0% overdraft, SLC monthly wage. how to let go?
I get monthly payments of around lb400 into my guard account.I own a different bank story with a different edge that I have a 0% student overdraft near. (RBS)
I am looking for the bast way to trade name money out of this.
I have be on moneysavingexpert.com and have have some information but finding ISAs hard to come to vocabulary with.
I be thinking I could open a dignified interest savings information and have the SLC money compensated into that and set up a direct debit of a set amount each month into the overdraft picture. I can then within turn have a direct debit set up to verbs money from my overdraft into the savings article to gain maximum amount of money from interest.
I really don't understand bank and what alot of the % and terminology mode.
basically is my plan feesible?
what are my best option?
what is the best high interest hoard account I can jump to that I can add and cancel money as I like?
how can I maximise my stash?
Answers: you could do what you said but it will only generate pennies -- you stipulation to cut back on spending or gain a part time livelihood!
There is no such thing as a lofty interest savings picture. Interest rates are low everywhere. Two ways you can maximise your savings:
1) Spend smaller amount.
2) Get another job or a unpaid job.