Select the answer that best describes your situation in each question below.
When you’re finished, click Add Up My Points. Continue… I’ll take the test later. to find out what your score means

Since interest rates are constantly changing, they can be higher or lower next month or next year. In which direction do you believe interest rates are headed now?

How important is it to you to be able to withdraw money from your account on short notice without a penalty?

How important is it to you to be able to add amounts less than $500 to your account at any time?

How important is it to you to be able to lock-in the highest available interest rate, even if it means tying up your money?

Which of these accounts do you already have, here or at another institution?

What Your CD Test Score Means

Find Out What CD Is Right For You

If you’re looking for an investment that protects your principle while giving you a higher return than traditional savings accounts, Certificates of Deposit (CDs) are a smart option. They are FDIC insured which means that your money is protected by the US Government up to $100,000. To help you decide whether a short-, medium- or long-term CD is right for you, compare your test score to the chart below.

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CERTIFICATE OF DEPOSIT CHART

If Your CD Test Score is…

Under 70 points:

You need a lot of liquidity, so a CD may not be right for you. Keep accumulating money in an investment savings account, like a money market account.

70 to 80 points:

You need some liquidity, but you can afford to lock your money in for a short period of time. Choose a short-term CD that matures in 7 days to 12 months, and match the maturity date to your needs.

85 to 95 points:

You will probably require access to your funds within the next 12 to 24 months. Select a medium-term CD that matures in 1 to 2 years, and match the maturity date to your needs.

100 points or more:

You can afford to take advantage of the higher interest rates a long-term CD yields. Consider a CD that matures in 2 to 10 years, and match the maturity date to your needs.


The above chart is for your information only. Be sure to consult a customer service representative before opening a certificate of deposit or money market account. ©2014 The Forms Group, All Rights Reserved.