CDs also known as Certificate of Deposits are like savings accounts in that they are secured and therefore almost fail-safe; they are "money in the bank" so to speak (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 unique, fixed-term (often three months, six months, or one to five years), and, normally, a fixed interest rate. It is intended that the CD be held until maturity, at which time the money may be taken out together with the accrued interest.

Obviously these CDs can also make you more money in the end, but this also depends on the current CD rates. If you are looking for various CD rates I would really suggest that you look online for the highest certificate of deposit rates. Why? Well if you want to make the most money then you will need to find which facility offers the highest. By finding the best rates - you can find the best facility with your best interest in mind. Honestly, I have found a ton of information on these blog type sites.

They have all kinds of data about things such as the various banks and what their percentage ratings are. These banks include that of; Citibank, Countrywide, Ally, Chase, Wells Fargo, etc. Pretty much all the big named banks that you may or may not already have accounts with. Notice that just because you don't have an account with the specific bank, doesn't mean you can't buy a CD - because you most certainly can! This is a really good option for those of you that don't want to lose in a place such as the stock market which can be severely risky, but you want to make long-term money for either yourself or a family member.

My father actually did this a few years ago while buying a so-called "jumbo CD" (depositing more than $100,000), once he actually withdrew the money it was a small fortune dedicated especially for me. I have used it mostly for school loans that needed paid off, but I have also reinvested the money in another CD and a few other profitable ventures as well. So I'm not rich to say the least, but these do pay off in the end - especially when you start to consider the various rates available! It really is a superbly risk-free way to make money in a secure way.

Yes, it does take time to build up over time. But I think that's one of the more desirable reasons for something like this! It's like getting a big red ferrari at the end of a specified amount of time. Frankly, I loved the whole "get it all at once" option. It's susprising and it always seems to come when you need or want it the most!