How can you determine whether a CD rate is really a good one? It takes a bit of research, but Fairfax Banking Rates exists to bring you all the information you need to find out.

To start, begin with the average rate for your location. Fairfax Banking Rates compiles rates data from within a 50-mile radius of Fairfax and the following is a breakdown of that information to help you locate the best rates near you.

CD rates can vary greatly depending on the term and location of the account. Don’t settle on the first rate you’re offered; researching the rates from all the banks and credit unions in your area will likely result in finding competitive offers you never knew existed.

If you’ve been following the news lately you know that the economy has more or less entered a recession. Given that these are uncertain times, it makes sense to pay extra attention to how you invest your money. Looking for a strong cd rate? Fairfax Banking Rates could help.

Fairfax Banking Rates want to help you earn money, save money and put yourself in the best position for your own financial situation. If you have a savings account that you do not need for the rest of this year, it may be a good idea to invest into a 6-12 month CD and take advantage of the higher interest rates. You can earn up to 1% or more in a CD versus a savings account with a $5000 CD over 10 years; that can be over $500-$1000 more in interest payments with the higher CD rate.