Joe Taylor

Investors with longer time horizons and diversified savings portfolios may enjoy the convenience of zero coupon certificates of deposit. “Zero coupon” refers to the fact that interest accruing on this kind of CD is rolled back into the investment. Although this kind of dividend reinvestment requires additional tax planning, zero coupon CD holders enjoy some of the highest yields offered by traditional banks.

High CD interest rates tend to come around in cycles, based on overall market conditions or on a specific bank’s desire to increase its deposit base. However, the high penalties imposed by many banks for early withdrawals make it unprofitable to switch to higher yield investments. Therefore, a number of financial institutions offer new certificates of deposits called “bump-up CDs.”

Learn how high-yield savings accounts can turn personal returns into long-term capital gains without the fees or risks of the stock market.

When comparing deposit accounts, understanding what types of products are available and shopping for the best rates is critical. Understand how these accounts differ to determine which helps you reach your financial goals.

Five ways that health savings accounts can help you shrink your spending and cut your stress.