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Is it more beneficial to opt for CDs from online banks?
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Yes, it is beneficial to opt for CDs from online banks than the traditional ones since they are easier to open, and are available nationwide. Also, it offers higher rates than the traditional banks.
Is Cds Exempt From Tax?
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1 Answers
Interest Earned On A cd may Be Paid To Another Account Or It Can Be Reinvested In The Total Balance. Regardless Of How The Interest Is Credited Back To The Investor, It Is Considered taxable for Both State And Federal Tax Purposes.
How does a CD work?
Asked by unknown
1 Answers
A CD involves an arrangement in which the money stays in the bank for a certain length of time, and you earn a promised return, and functions as a share certificate at credit unions.