Bank Stocks Ratings
Bank Stocks Ratings
How Can Bank CD Rates Help You Reach Your Financial Goals?
Whether you’re saving for college, a family vacation, a new car or a down payment on a home, a certificate of deposit (CD) can help you reach your goal even faster. Look for a reputable and stable financial institution where you can invest with confidence as you achieve your savings goals. To get the most from Aurora Bank (Equal Housing Lender, member FDIC) CD rates:
. Plan for your financial future
. Access your money when you need it
. Compare CDs to traditional savings accounts
. Get started with a CD
Plan for Your Financial Future
Certificates of deposit are a safe, secure way to invest any amount from $1,000 to $100,000 or more in a way that earns you a guaranteed return for a set period of time. The amount you earn (called the CD rate) depends on the length of time you save your money in a CD. The longer you’re willing to save your money without withdrawing it, the more you can potentially earn with a higher CD rate. Fortunately, as an investor you now have a wide selection of some of the most competitive CD rates in the banking industry – both online and at traditional banks. You can invest your funds for as short a time as 6 months, or all the way up to 5 years – all without subjecting your money to the peaks and valleys of the stock market.
Access Your Money When You Need It
Two of the best ways to get a high CD rate are investing more money in a CD, and keeping your money with the bank for a longer period of time. That’s great, but how will you access your funds if you need to in the future? You can structure your CDs with varying deposit amounts and maturity dates. This means you open one CD and deposit $1,000 for 6 months, and another within 1 year, 2 years and so on. This way, you’ll always have an upcoming maturity date when you can withdraw your funds without penalty. Of course, Aurora Bank CD Rates can earn you even more over time if you choose to have your CDs automatically renew when they reach their maturity rate.
Compare CDs to Traditional Savings Accounts
You may think that a CD is almost like a savings account, and in some ways it is. However, with savings accounts, even though you have easier access to your funds, you don’t earn as much as you would with a CD. With a CD, you’re agreeing to let the bank use your money for a set period of time – and they’re paying you interest in return. This is one reason why Aurora Bank (Equal Housing Lender, member FDIC) CD rates are higher than a typical savings account or high interest checking account. You’re essentially being rewarded for saving – which is something you should do anyway!
Get Started with a CD
It’s easy to buy CDs. Unlike savings or checking accounts, you don’t “open a CD account”. Instead, you buy CDs individually and customize how much you want to deposit and how long you want to invest it for. Because CDs are backed by the Federal Deposit Insurance Corporation (FDIC), you can invest up to $250,000, per depositor, per account type and know that it’s insured by the U.S. government. Get started achieving your goals today!
DBS Bank – Market Perspectives (September 2011)
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