Videos

“Today Ascentra is Making Sense of Certificates of Deposit”

Looking to stack up your savings?

A certificate of deposit, or CD, is a safe investment option that locks in your funds while earning you higher interest.

When you put money into a CD, you make an agreement to let your financial institution hold onto your cash for a set amount of time.  

Most CD’s have a minimum deposit requirement, and can be opened with as little as $250.

Term lengths vary and are typically as short as three months or as long as five years.  The longer the term, the more you can earn.

If you invest $10,000 into a 53 month CD with a 3% APY, you can earn more than $1,300 once the term is up.

Avoid closing or making an early withdrawal as it will result in a penalty fee.

If you don’t need quick access to your cash, contact your trusted financial institution to apply for a CD and sit back, relax and watch your money grow!