How old must you be to open a certificate of deposit?

Answer Under the Uniform Gift to Minor's Act, a certificate of deposit can be opened for a child of any age. An adult will manage the account until the minor has reached a designated age, which varies by ... Read More »

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How do I open a certificate of deposit?

Opening a CDShop around for the bank with the best interest rates on Certificates of Deposit. Visit the bank with your social security card, photo identification and a debit or credit card (for ide... Read More »

How do I calculate yearly deposit amounts based on total certificate of deposit amount?

Figuring the DepositAdd 1 to the interest rate per month, then raise the number to the power of the number of times the CD compounds. This is the interest factor. Divide the total amount of the CD ... Read More »

Can a 401(k) be a certificate of deposit?

A 401k can be a certificate of deposit. A certificate of deposit is an appropriate savings method for any 401K plan. It is a safest choice to protect the principal. Unlike stocks and mutual funds, ... Read More »

Is a Certificate of Deposit an IRA?

An IRA is a retirement vehicle that allows your money to grow tax-free. Traditional IRAs allow you to tax-deduct the money you put into the investment vehicle but you pay tax when you remove the mo... Read More »