High Yield Certificate of Deposit in Europe
A high yield certificate of deposit in Europe can be an excellent choice, and a better rate of interest may be possible than you can get here in the USA. The very best certificate of deposit rates can be found by depositing your money in a number of European certificates instead of choosing domestic options. This is because the US dollar has an advantage in European financial institutions, and this translates into higher earnings on a high yield certificate of deposit in many cases. There are some risks involved as well though, because the currency conversion rate can change according to market fluctuations.
Another possible disadvantage with high yield savings and CDs in Europe is that there may be different risks because of the foreign country. American financial institutions usually offer FDIC insurance, but European countries may vary on the type and amounts of coverage concerning your deposit. If you are looking for a high yield certificate of deposit and are not happy with the interest rates offered by American banks then looking to Europe may be a good choice. Good research and CD comparisons are necessary to keep the risks low while increasing the yield. This is especially true for jumbo certificates of deposit when the amount at risk is very substantial.
EverBank offers a high yield certificate of deposit that can be in one or many different currencies, and this type of account may offer a rate which is six percent or more. Many times a European CD can have a better yield than even the top savings accounts offer, and if you have money that can be tied up for a while then this type of deposit can be a terrific idea. Just make sure to check out any institution before making a deposit, because Europe includes many different countries and banks, and each may have specific rules or restrictions in place. This will help you keep your risks as low as possible while maximizing your returns.