My specialty is information about banking and finance. One piece of advice I can give is to always have a strategy. For example when looking at bank tennesee commerce bank you shouldn’t just pick any old cd your bank is offering. You should first develop your strategy based on your financial goals. You need to ask yourself a few questions first.
What is the money you’re investing going to be used for? How long are you willing to lock up your money? Do you think interest rates are going to rise or fall and when? How much do you want to invest? Once you know these answers you can find the right certificate of deposit for you. Or maybe after answering these questions you realize your money would be better spent in a best interest rates for savings.
If you determine that you want a CD, you can implement the bullet strategy which targets a particular date for your cds to mature. You can use the barbell strategy which targets very short and very long term cds. This strategy is good for when medium term cd rates are weak. You can use a cd ladder strategy so you always have some free cash at hand. You can use the CDARS strategy so that all your money is FDIC insured. I would recommend always using this last strategy. You can never be too safe. Just remember that how to rate an online bank are hard to predict. Whether they be CDs, checking accounts, or savings. You never know where rates are going to go, so don’t over think it.