Did you know that Aspire Certificate of Deposit (CD) allows your money to grow at a higher interest rate than a savings account? It helps you grow your money, but unlike a savings account, CDs are a time-based deposit—they are invested for a specific amount of time—with CD rates Minot ND that can’t go lower than their locked-in annual percentage yield (APY). When the investment time period is complete; the certificate of deposit has matured, it can be reinvested or become cash.
There isn’t a lot of unfamiliar vocabulary to learn, in-depth research to conduct, or complicated spread sheets to compile.
However, one of the most important factors to consider before opening a CD is whether you’re confident you won’t need the funds you deposit before the agreement ends. Look at it this way – higher interest rates, longer terms, and larger deposits will earn you more profit. However, if you anticipate needing your funds sooner, a shorter term might be the better option. Also, remember that you’re locked into your agreed APY for the entire term.
Certificates come with some basic requirements. These include a minimum opening balance and committing to leaving your money in the account for a set amount of time. As a member of Aspire Credit Union, you can open a certificate with as little as $500.
Certificates of Deposit are a powerful way to boost your savings with minimal effort and less risk than anything you can find. Insured by the NCUA and deposited with the same old Aspire Credit Union you’ve known and trusted since decades; CDs are a fool-proof financial strategy to earn maximum rewards safely and quickly. And just in case you are wondering, one of the major differences between a savings account and CD is accessibility – where a savings account has minimal restrictions on withdrawals, the funds in a certificate can’t be withdrawn without penalty until the maturity date.
Remember, the key to success with CD rates Minot ND is to make sure each purchase is made thoughtfully and strategically.
Are you ready to earn more with your cash? Choose your term and see bigger returns from fixed CD rates Minot ND with Aspire.
It’s a straightforward savings strategy that can reap secure, predictable returns and give you a level of flexibility other investment approaches may not be able to.