For steady, predictable income that is also FDIC-insured, many investors turn to CDs: certificates of deposit.
It's easy to find and purchase a CD that is right for you in just a few quick steps on Schwab.com
Start by logging in to your account and choosing Trade > CDs.
Select the account you'd like to use when purchasing your CD by checking the "Accounts" dropdown.
Now you can browse the highest yielding CDs from the many banks available through Schwab CD OneSource.
Each list includes a range of dates they may mature on.
Choose different timeframes and reorder the list by clicking coupon payment, maturity date, or Annual Percentage Yield.
Click on a bank name for a detailed description with information like maturity date, first coupon payment, settlement date, and how often you will receive interest.
Once you know which CD you'd like to purchase, click Buy.
This will bring you to order entry with all the relevant CD information pre-populated.
Here, review the details of the bank name, coupon, and maturity date,
and you'll just need to enter the total amount you'd like to invest in the CD.
Note that this field is already in the thousands, so enter accordingly.
Here, we're investing $50,000 so we'll enter "50"
Now you have the opportunity to choose whether or not you'd like to rollover, or reinvest, the proceeds from your CD once it's matured.
If you decide to rollover, you can also pick the new CD’s maturity timeframe.
Also note that CD orders are marked as a limit order to "Fill or Kill", meaning it will be cancelled if not filled immediately in its entirety.
When you're ready, click "Review Order"
If everything looks correct, including the total cost, click Place Order to complete your purchase.
During order verification you may see a screen with additional disclosures that apply to your selected CD.
Once you’ve reviewed, click "Continue"
You'll see an order acknowledgment where you can again confirm your trade details, and at any time you're logged into your Schwab account, you can check the order status of your CD by hovering over "Trade" and clicking "Order Status".
Find current rates and CDs that fit your fixed income needs by logging in at schwab.com/cd