This is a good place to begin saving money. CDs also must be kept in the account for a specific period of time, usually six months or longer. EE savings bonds are available at banks and through employer payroll deduction plans. Invest In money market instruments such as Treasury bills, bank certificates of deposit, and commercial paper. The interest rate may vary as the economy varies.
Private corporations manage the funds and charge a small annual fee for their services.
It reduces the equity you have accumulated in your home. You could lose your home if you can't make the loan payments. Compare four banking institution's home equity loans before making a decision. Check the APR, points, closing costs, other fees, and the index for changes to a variable rate loan. You might save considerably on finance charges.