Vanguard - Stocks, bonds & CDs

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Bonds & CDs »

Go to Bond Desk, our online trading system, where you can review and buy fixed income securities, view bond news, see current CD yields, and more.

›: Research bonds and CDs

Maturity	Rate
CD yields	as of 11/20/09
View all CD rates »
3 month	0.20%
6 month	0.50%
1 year	1.35%

All brokered CDs may fluctuate in value between purchase date and maturity date. CDs may be sold on the secondary market, which may be limited, prior to maturity subject to market conditions. Any CD sold prior to maturity may be subject to a substantial gain or loss. Vanguard Brokerage does not make a market in brokered CDs. The original face amount of the purchase is not guaranteed if the position is sold prior to maturity. CDs are subject to availability. All CDs are federally insured up to $100,000 per bank, and up to $250,000 per bank for certain retirement accounts. As of May 20, 2009, the limit for federal insurance coverage of CDs has been temporarily increased for all types of accounts, through December 31, 2013, to $250,000 per depositor per bank. In determining the applicable insurance limits, the FDIC aggregates accounts held at the issuer, including those held through different broker dealers or other intermediaries. For additional details regarding coverage eligibility, visit www.fdic.gov. Vanguard Brokerage imposes a $10,000 minimum for CDs purchased through Vanguard Brokerage. Yields are calculated as simple interest, not compounded. Brokered CDs do not need to be held to maturity, charge no penalties for redemption, and have limited liquidity in a secondary market. If a CD has a step rate, the interest rate of the CD may be higher or lower than prevailing market rates. Step rate CDs are subject to secondary market risk and often will include a call provision by the issuer that would subject the investor to reinvestment risk. The initial rate of a step rate CD cannot be used to calculate the yield to maturity. If a CD has a call provision, the issuer has sole discretion whether to call the CD. If an issuer calls a CD, there is a risk to the investor that the investor will be forced to reinvest at a less favorable interest rate. Vanguard Brokerage makes no judgment as to the creditworthiness of the issuing institution and does not recommend or endorse CDs in any way.

Vanguard has provided availability to the Alternative Trading Systems operated by BondDesk Trading LLC and to other content provided by BondDesk Trading LLC. BondDesk Trading LLC is a third party and is not affiliated with Vanguard. Vanguard is not responsible for, and does not prepare, edit, or endorse, the content, advertising, products, or other materials on or available from any website owned or operated by a third party. While Vanguard provides access to BondDesk Trading LLC's Alternative Trading Systems, Vanguard has no control over actions taken by BondDesk Trading LLC. All offerings are subject to market conditions and/or prior sale.

For additional information about CDs, see the Certificate of Deposit Disclosure Statement. Additional information is available at www.fdic.gov.

Note on account protection: Securities in your brokerage account are held in custody by Vanguard Brokerage Services (VBS), a division of Vanguard Marketing Corporation, member FINRA and SIPC. Account protection information