iGoBanking is offering a very good 3 month cd rate (in comparison to the national average).

Right now it is difficult to find a good short term certificate of deposit.  Rates across the board are low but short term are the worst.

iGoBanking has a 3 month CD Rate at 1.35% APY with only a $1000 minimum deposit.  This rate is better then a lot of 6 month cd rates we have seen out there.

Check out all our cd rates.

This offer is for “new money” only, which means you have to open a new account to get this rate.  There may be an early withdraw penalty as well.

iGoBanking is FDIC insured and you can visit their website here.

Are short term certificates worth it?

The answer is not just a simple yes or no.  Right now CD Rates are so low and this means the return on investment will be low as well.  3 Months at 1.35% apy is not going to produce very much profit.  Now, in comparison to other investments CD accounts are very secure, and when you can find a certificate with a low minimum balance like the offer above it is a safe way to produce small amounts of interest.

I would not suggest putting money in a CD like this if you do not have much money.  Putting money in a CD can lock it away for the term of the CD, that is if they have an early withdraw penalty.  If you are forced to withdraw the money you may forfeit any profits you had.

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