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Tips on How to Get the Highest CD Interest Rate

Updated on September 14, 2019

An FDIC insured "Certificate of Deposit" is by far one of the safest investment vehicles on the market today. The CD is an extremely low risk, low to high return option for the conservative investor who is hesitant or unwilling to assume even the slightest gamble with money designated for mid to long term savings. In recessionary times, CD yields tend to hover around par level with inflation, while in inflationary times, realizing a 5, 6, or even 7% yield is not uncommon. A very attractive alternative to traditional savings for the risk-averse investor.

With this in mind, The following tips were designed help the consumer secure the highest possible return on respective CD deposits regardless of his/her cash position. As always, consult your Financial Advisor or Accountant before making any portfolio changes or decisions related to investment options.


  • Deposit Required Amount To Receive Highest Rate - Some banks or financial institutions peg their certificate of deposit rates to an incremental tiered system consisting of several "Bonus Point" levels which ascend on a proverbial ladder resulting in a higher return on deposits as the dollar amount in the account increases. unquestionably, the easiest and most efficient way to attain the highest interest rate possible for your hard earned cash is to simply deposit enough freshly sanitized and wrinkle free greenbacks it takes to achieve or exceed the minimum requirement threshold which rewards a customer with the highest possible ROI ( Return on Investment ). Currently, that threshold is in the neighborhood of $100,000.
  • It's a pretty straight forward basic concept, just adhere to the banks certificate of deposit interest rate policy which dictates a maximum bonus rate awarded to a minimum deposit of $100,000. It's just that simple. Or, you may have to wait a few weeks until the $100,000 magic number can be accumulated, or, for the vast majority of customers, settle for a lower position on the tiered bonus system hence zero to minuscule incentive in the form of a higher than book CD yield.

  • NEGOTIATE WITH BANKER - I'm sure you've heard the old cliche' "Everything is Negotiable", well believe it or not, this old adage also includes banks and respective staffs willingness in most cases to negotiate terms on many financial products offered.
  • The experienced bank customer is well aware of the facts regarding how to secure the highest CD interest rate possible, and in most cases ultimate success or failure can depend on an individuals understanding of how the industry operates and his/her willingness to participate in the fine art of negotiations. A favorable outcome can turn out to be a relatively simple task, one that is accomplished with a brief inquiry during CD maturity grace period or at the point of opening a new account regarding the interest rate flexibility policy or absence there of.

  • Can you please take a minute to talk about how important my patronage and or account(s) is to this financial institution? Then proceed accordingly depending on the response -

  • Existing Customer Loyalty Rates - Ask a representative if the bank or financial institution has a consumer friendly policy that rewards existing customers such as yourself with a bonus rate applied above and beyond what new walk ins would receive if he/she opened an initial account. You might be surprised to find out how many banks do indeed offer this "loyalty" perk to long standing clients regardless of existing account balances. The active account time frame may be a factor, but even if your tenure as a customer is relatively short, you might be pleasantly surprised to find out you qualify for a higher rate simply by having an established account. Sometimes a bank representative will bring this "Loyalty Rate" feature to the customers attention without being asked, but if he/she doesn't mention it during the conversation, it becomes incumbent upon you to find out if this policy does indeed exist and if you qualify.


  • Consider Longer Term CD - One way to ensure a higher rate of return on your CD money is to open or transfer funds into a longer term account. The average tiered system typically pays a higher interest rate for extended term commitments and this option can help you secure a slight to moderate income boost or yield verses shorter term accounts. Always keep in mind, traditional CD's lack liquidity for the duration and are designed for money that can be tied up for an extended period of time. Any and all withdrawals prior to maturity are subject to applicable penalty unless waived by authorized personnel. If limited access is not a major consideration, then a 12 month or longer term choice might be the answer.

  • Remember, there is always a penalty for early CD principle withdrawals made prior to maturity unless waived by authorized personnel at the bank, so weigh this option carefully -

- Time deposits such as a "CD" ( Certificate of Deposit ) can generate a higher rate of return and or income verses traditional savings or money market accounts -
- Time deposits such as a "CD" ( Certificate of Deposit ) can generate a higher rate of return and or income verses traditional savings or money market accounts -

  • Talk To The Manager - If you are not quite up to speed with negotiating skills or just lack the stamina or ambition to engage in the spirited give and take typically reserved for an all out, fun filled no holds barred session at the new car dealership, ask politely to speak with a Manager. After all, unless the bank's employee reporting structure is unique, this is the anointed person who is more than likely responsible for assessing and or approving a bonus interest rate which exceeds the book. Specific authority to negotiate investment yields for existing or new customers is typically granted to top brass at the branch level by the corporate office, so this might be the person(s) to speak with. Most financial institutions delegate a certain degree of "flexibility power" to designated employees at the satellite office to be used exclusively for negotiating the acceptance of new money or renewing existing CD accounts. I would assume other institutions depending the circumstances, have a strict unwavering non negotiable policy which simply translates to "No Bonus Rate" regardless of your long standing relationship or any other factors. Your account is subject to prevailing book rates, period. I would recommend checking with the Branch Manager for details to be absolutely sure your getting the best possible return on hard earned money.

  • Talk to Branch or Regional V.P. - Just like everything else, there is a certain protocol which should be followed to increase your odds of a favorable outcome. Unless you have a previous line of communication established and or working relationship with the Regional Manager, this avenue in my opinion, should be considered and pursued only after all other options have been exhausted.
  • With a friendly and polite demeanor, ask the Branch Manger for the name and business contact number of a Regional Manager or someone of equal stature. Once communication is established, simply explain the situation and make sure to detail all previous conversations you've had with appropriate bank personnel and emphasize how disappointed you are with the unsatisfactory outcome.


  • Imply You Will Close Account - Realistically, this subtle undertone usually works best when a persons existing account balance is substantial, leverage of say $10,000 or more. But if all else fails, and a top priority is to renew your certificate of deposit at the highest interest rate possible regardless of potential extra added consequences of actually closing the account and moving the funds to another institution, then you really have nothing to lose by implying that the CD will be closed or transferred to a competitor if your request cannot be satisfied. Be polite and articulate this position with the utmost confidence and conviction even if circumstances dictate you will more than likely stay with the bank rather than withdraw funds and seek an alternative financial institution. Even though you might be bluffing, if your demeanor during negotiations implies the distinct possibility of immediate account closure, prompt action by bank staff to comply with your request might be forthcoming.

  • I would recommend a firm yet friendly approach when talking with staff, a manager, or V.P. Intimidation or aggressive language and demeanor will more than likely result in non productive interaction and possibly prompt the manager to immediately draft an official check, hand it to you, then provide a personal escort to the exit -

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