CDs are similar to savings accounts in that they are insured and thus virtually risk free. CDs are insured by the National Credit Union Administration (NCUA). They are different from savings accounts in that the CD has a specific, fixed term (often monthly, 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 It is intended that the CD be held until maturity, at which time the money may be withdrawn together with the accrued interest.
CD Interest Rates
| 3 months | .20 |
| 6 months | .35 |
| 12 months | .50 |
| 2 years | .65 |
| 3 years | .75 |
| 4 years | .85 |
| 5 years | .95 |
| 6 years | 1.05 |
| 7 years | 1.15 |