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One-Minute CD Test

Find out whether a short-, medium-, or long-term CD is right for you with our One-Minute CD Test. Just choose the answer that best describes your situation by clicking on the circle beside that answer. Scroll to the bottom of this page when you are finished answering all questions, to see your score and review what that score means to you.

Pending	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? Higher  No Opinion  Lower
Pending	How important is it to you to be able to withdrawal money from your account on short notice without a penalty? Very Important  Somewhat Important  Not Important
Pending	How important is it to you to be able to add amounts less than $500 to your account at any time? Very Important  Somewhat Important  Not Important
Pending	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? Very Important  Somewhat Important  Not Important
Pending	Which of these accounts do you already have, here or at another institution? Money Market  Certificate of Deposit  Neither Both
Pending	Which statement best describes your plans for savings? I just want the money to be there for a rainy day I'm saving for a specific expense less than a year away I plan to use the interest income to meet living expenses I'm saving for a specific expense more than a year away No plans right now, I just want my savings to grow

-- You must answer the questions above to see your score --

If You Score...	What Your Score Means
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.

This chart is for your information only. Be sure to consult a customer service representative before opening a certificate of deposit or money market account.

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