Before You Renew That CD, See What Else Your Money Could Do.
Have money in a certificate of deposit? Is your CD approaching maturity? Or are you considering opening a new one?
Before making your next decision, compare potential long-term outcomes and explore options that may fit your retirement goals.
Compare My CD SavingsFree calculator • No obligation • Educational estimates
Are You Comparing More Than Just Interest Rates?
CDs offer predictable interest for a specified term and FDIC insurance when held at an insured bank, subject to applicable coverage limits.
For savings intended for longer-term goals, you may also want to explore products that offer index-linked interest potential and contractual principal protection, subject to their terms and limitations.
Our interactive calculator lets you compare hypothetical outcomes before requesting a complimentary review.
CD vs. Index-Linked Growth: Compare the Numbers
Adjust the amount, CD interest rate, annual index cap, and time horizon. Results update automatically.
Your Long-Term Savings Comparison
The index-linked example uses a simplified hypothetical fixed indexed annuity (FIA) crediting method, not an actual contract illustration.
Estimated Account Growth Over Time
| Year | Historical S&P Return | FIA Credited Rate | CD Balance | FIA Balance |
|---|
Important: This calculator repeats S&P 500 calendar-year price returns from 2016–2025. The FIA example credits 0% in negative years and limits positive years to the selected cap. Actual FIA crediting periods, cap changes, contract charges, surrender values, and other provisions can materially change results. No future outcome is guaranteed. The CD assumes a constant annual rate over the entire selected period. Taxes, withdrawals, inflation, and fees are excluded from both examples.
Submit your request and our team will contact you to arrange a consultation.
What Should You Consider Before Renewing a CD?
The right choice depends on when you'll need your savings, your risk tolerance, your retirement goals, and the product terms.
Time Horizon
Money needed soon may be better suited to a liquid savings option or shorter CD. Long-term savings can be evaluated differently.
Growth Potential
Compare fixed interest with index-linked crediting opportunities, including caps, floors, and how interest is calculated.
Access to Funds
Review withdrawal provisions, early withdrawal penalties, surrender charges, and potential tax consequences.
CDs and Fixed Indexed Annuities Are Not the Same
Both can play different roles in a retirement savings strategy. Compare their important features before making a decision.
Bank Certificates of Deposit
- Specified interest rate for a defined term.
- FDIC insurance at insured banks, subject to limits.
- Interest rates may change when a CD renews.
- Early withdrawals may trigger bank penalties.
- Often useful for shorter-term savings goals.
Fixed Indexed Annuities
- Interest credits may depend on an external index.
- Caps and other crediting terms limit upside.
- Contractual protection from negative indexed credits.
- Not FDIC-insured; backed by the issuing insurer.
- May involve surrender charges and withdrawal limits.
Don't Automatically Renew Without Reviewing Your Options.
Some CDs renew automatically unless you take action during the bank's grace period. Review your maturity date, renewal rate, and withdrawal provisions before deciding.
If your CD is maturing soon, now may be a useful time to explore whether another savings approach fits your goals.
Questions About CDs and Retirement Savings Alternatives
What are alternatives to renewing a CD?
Options may include renewing your CD, selecting another CD term, savings accounts, Treasury securities, and other financial products. For longer-term retirement goals, certain insurance-based strategies may also be considered. Each has different risks, liquidity, guarantees, and tax treatment.
Is a fixed indexed annuity invested directly in the S&P 500?
No. A fixed indexed annuity is an insurance contract whose credited interest may be linked to changes in an external index. The account does not directly own the underlying index stocks and generally does not receive index dividends.
Can an FIA lose value?
A contractual 0% indexed-interest floor generally prevents negative index performance from creating a negative indexed interest credit. However, contract charges, withdrawals, surrender charges, and other provisions can reduce account or surrender value. Guarantees depend on the issuing insurer.
Is a CD safer than an FIA?
They provide different forms of protection. Eligible bank CDs have FDIC insurance within applicable limits. FIAs are not FDIC-insured and rely on the issuing insurance company's claims-paying ability and contract guarantees.
Why does the calculator repeat the same 10 years?
The repeated historical sequence allows a consistent mathematical comparison over 10 to 30 years. It is not a prediction that markets will repeat past performance.
Does the calculator show actual FIA performance?
No. It is a simplified hypothetical illustration using historical S&P 500 price returns, a constant cap, and a 0% indexed crediting floor. Actual contract results may differ substantially. Request product-specific information from a licensed professional.
What happens when my CD matures?
Depending on your bank's terms, the CD may automatically renew or offer a grace period to withdraw or transfer funds. Check your specific agreement for dates, rates, and applicable penalties.
How do I request a CD savings consultation?
Complete our short consultation request form. Our team will contact you to arrange a complimentary conversation about your savings and available options.
Explore Your CD Options in Three Steps
Compare Your Savings
Use the calculator to explore hypothetical long-term outcomes.
Request a Consultation
Tell us about your CD or the savings you're considering.
Review Your Options
Our team will contact you to arrange a conversation with an appropriately licensed professional.
Your CD May Be Working for You. Could Another Option Fit Better?
Before renewing your CD or opening a new one, take time to understand your choices. A complimentary review can help you compare available options based on your goals.
No obligation to move funds or purchase a product.