When it comes to your home you will always want to keep it safe and secure and there are very few people who would leave it unlocked while they’re away. However, a lot of people do leave their valuables on clear display or at least not locked away and this is never a good thing. Deposit safes are ideal to keep your valuables safe while you’re away from home and you can find a huge range of options on the web.
This amount will be credited to your account either in full or in installments, based on your plan. Term deposit rates do not fluctuate as per market conditions. These rates are fixed and will be mentioned before you buy the plan. These plans are also tax savers – you can get a rebate on your taxable income on a term deposit saving. The rebate may be in full or in part.
It is advisable to stay away from gold jewelery. Jewelery, unlike gold bullion, loses value. The longer you have it and the more you wear it, the less it is worth. It may look pretty but you will lose money.
In addition, if a bank closes down a branch, it may happen your watch safe box does not accompany your account to the same branch. And you have no say in the matter at all.
Up until the FDIC was created in 1933, you really had to have a ton of trust in your bank if you were going to open of a certificate of deposit. Similarly to today, much of the trust had been eroded, and the FDIC was created to guarantee the deposits that the bank held. Up until last year CDs were guaranteed by the federal government up to $100,000. You can actually have far more insured if things are structured properly, but that is an article for another day. However, this last year, Congress passed, and President Bush signed into law a temporary increase to $250,000 that is set to expire 12/31/2009. So the first benefit, unlike your investments in the stock market, mutual funds, ETFs, etc., your principal is backed by the full faith and credit of the US Government.
However, haven’t you noticed all the changes going on in the banking industry? One bank takes over another bank. The transition may not proceed as seamlessly as hoped. In one bank in my community, for two Saturday mornings they couldn’t open the vault. Imagine the anxiety and agitation in that room! The loudest complainers were the retirees!
As you are about to open your CD Account, you will be given an option: length of time you want to ‘tie’ up your money. Remember, you are agreeing to leave your money in the CD for a certain period. This can be anywhere from 7 days to 7 years or more.
Ask a friend to mow the lawn if you’re going to be away for a long period of time and give them keys to the house so they can make sure everything is in order.