Make Money with a CD — Guaranteed

Some things in life are a “sure thing,” and a certificate of deposit is one of them. It guarantees that you’re going to make money on your money, no matter what.make-money-with-a-cd-guaranteed

A certificate of deposit, or CD, is a financial product similar to a savings account. Where a CD differs, however, is that it has a specific, fixed term and a fixed interest rate. It is intended that the CD be held until the end of the term, when it “matures”. At maturity, you can either withdraw your money along with the accrued interest, or you can choose to roll over the funds into another term and continue saving.

There are short-term and long-term CDs available at most banks. Short-term CDs can range from three months to a year, while longer term CDs typically range from 18 months to 5 years. Typically, the longer the term length, the higher the interest rate.

At Bank5 Connect, we offer CDs with terms of 6, 12, 18, 24, and 36 months. And the minimum deposit for our CDs is only $500. Our 24-month CD is a special “Investment CD” that provides more flexibility by allowing you to transfer funds into your CD at any time. This can allow you to save even more!

It’s important to point out that there is usually a penalty fee for withdrawing money from a CD before the term is over. Be sure to read all the fine print regarding withdrawal penalties before deciding which term length is right for you.

So, how much can you earn with a CD? We offer a handy calculator that lets you estimate your annual earnings using different average monthly balances and term lengths. Try it out to get a sense of what Bank5 Connect CD product could be right for you.

CDs are considered one of the safest ways to save money with a bank. Unlike stocks and other types of investments where interest earnings can fluctuate drastically or you could be in danger of losing your principal, a bank CD has a guaranteed, fixed interest rate you can depend on, and the money in your account is insured up to $250,000 by the Federal Deposit Insurance Corporation (FDIC). What’s more, if your CD is with Bank5 Connect, it’s insured past the FDIC limit of $250,000. Because Bank5 Connect is a DIF-member bank, all of our deposit accounts, including CDs, are insured in full. This means that any dollar amount above the FDIC limit is insured by the Depositors Insurance Fund.

To learn more about our CDs, including current rates, go to http://www.bank5connect.com/home/cds. And don’t forget that it’s always a good idea to consult a tax advisor before making any major investment decisions. Happy saving!

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