The Ultimate Explanation Of CD Laddering: Financial Success in 2024

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Today, we will be discussing CD laddering, a powerful technique to maximize your savings. CD Laddering involves opening multiple CDs with different maturity dates, ensuring regular access to your funds. For example, you can open CDs with terms of one year, two years, three years, and so on. Each year, a CD matures, giving you the option to reinvest or withdraw the funds. This method provides flexibility and takes advantage of potentially higher interest rates over time.

Certificates of Deposit (CDs) are a secure and flexible savings option that guarantees yields while providing you with the safety of FDIC insurance. Learn how you can grow your savings faster with a CD at www.fnba.com/cds/certificates-of-deposit/

WHAT IS A CERTIFICATE OF DEPOSIT (CD)?
A Certificate of Deposit (CD) is a type of low-risk savings account that offers a fixed interest rate for a specified period, typically ranging from a few months to several years. CDs typically offer higher interest rates than a regular savings account because the account holder commits to keeping the funds deposited for the entire duration of the chosen term. This product gives you the opportunity to grow your savings faster!

We offer Certificates of Deposit in a broad range of terms giving you options that fit your needs. When you open a Certificate of Deposit, you will know exactly what return to expect and when you will get it because the high yield rate is locked in and guaranteed from the day you open the account until the day it matures. Best of all, your funds are insured by the FDIC up to $250,000 per depositor. Open a CD online today for as little as $1,000 to start earning higher returns!

HOW DO I FUND A NEW CD?
Accounts are funded via ACH transfer from a checking or savings account (please note we are not able to ACH transfer from a brokerage, annuity, or certificate of deposit account). Please allow up to ten business days for the funds to be withdrawn from your external account. ACH funding will be requested on the date of account opening.

WHAT TYPES OF DEPOSIT ACCOUNTS CAN BE OPENED ONLINE?

Personal Certificates of Deposits
Personal High Yield Savings Accounts
We are unable to offer specialized accounts online (business, trusts, estates, power of attorneys, custodial accounts, health savings accounts, or individual retirement accounts)

WHAT ARE MY OPTIONS WHEN THE CD MATURES?
There are multiple options available upon maturity:

-Take no action, your entire CD will rollover automatically for the same term at the rate currently offered.
-Rollover your entire CD into a new term with the rates currently offered
-Withdraw part of your CD and roll the remainder over into a new term with rates currently offered
-Withdraw all of the funds in the CD

Explore the world of secure investments with certificates of deposit, a reliable option for those interested in CD investing and looking for a high-yield savings option. With terms ranging from 12 – 84 months, these FDIC-insured deposits offer a safe harbor for your financial planning. Whether you are saving for the future or focusing on low-risk investments, certificate of deposit rates provide a guaranteed return. With fixed interest rates, these deposit certificates contribute to steady savings growth, making them an essential tool in effective money management.

Interest rates are subject to change without notice. Fees could reduce earnings on the account. A withdrawal will reduce earnings. The APY on all certificates assumes that principal and interest will remain on deposit until maturity. A penalty may be imposed for early withdrawal. $1,000 minimum balance to obtain the APY. To open an IRA Certificate of Deposit, please visit one of our 3 branch locations.

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FAQ: https://www.fnba.com/onlinecdfaq/


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