Day by day, the interest rate for the amount, which is invested in banks, is dropping and getting a best certificate of deposit rate is much difficult. Many banks provide different cd rates . Accordingly the customer has to choose the right bank, which offers them highest CD rates. Today most of the senior citizens who are more than 62 years of old can go for reverse mortgage . The reverse mortgage is a loan, which is given to the homeowners for the real property value. The mortgage is given to the customer at monthly basis and the mortgage amount is repaid until the homeowner vacates the home or he can repay in lump sum. The main advantage of reverse mortgages is it allows the senior citizens to get the value of the home while staying in the very same home itself. The person can live in the home till his death or he can repay the mortgage at high interest amount. The interest rate is very much higher in reverse mortgage.