When you have idle cash sitting around in savings, a share certificate is a great way to maximize those funds. Choose your term to earn fixed dividends.
Key Features
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Competitive Dividends
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Guaranteed Rates
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Wide Range of Terms
- Fixed rates, higher than regular savings
- Receive higher rates by selecting a longer term
- Dividends may be paid monthly, quarterly, or semi-annually
- Provides more guarantee than other risky investments
- Set aside for future savings goals
- A wide range of terms available (from 6 months to 5 years)
- No setup or maintenance fees
- Early withdrawals subject to penalty*
- Renews automatically upon maturity
- $1,000 minimum deposit to open
A fixed-rate, fixed-term CD can earn higher returns than a standard savings account. Use our calculator to get an estimate of your earnings. Click here.
Short-Term CD Special
Putting money into short-term CDs can help maximize the interest you’ll earn on funds earmarked for purchases in the near future, such as an upcoming vacation, or home renovations. An upside of a short-term CD is you’ll have access to your money relatively soon, so it may be less likely you’ll need to withdraw the funds before the CD matures and be subjected to an early withdrawal penalty. Short-term CDs are also a great way for those with smaller savings to invest since they typically don't require a large deposit minimum.
6 Month Special
- $1,000 minimum
- 5.25% APY
12 Month Special
- $1,000 minimum
- 5.00% APY
Long-Term CD Special
Long-term CDs can help you earn significant interest on funds earmarked for use in several years, such as the down payment on a house or putting an addition on your home. Agreeing to lock up your money for several years can help you earn a much higher yield than you’d receive from many CDs with shorter terms. Locking in a high rate now will guarantee you’ll get that yield, even if rates do plunge.
- 36 months
- $250,000
- 4.00% APY
Use our calculator here to get an estimate of your earnings.
When it comes to securing your financial future, investing in Certificates of Deposit (CDs) and Individual Retirement Accounts (IRAs) can offer a reliable and strategic approach. Both investment vehicles provide unique benefits that can help you grow your savings while minimizing risk. This post will explore the advantages of CDs and IRAs and provide guidance on how to get started with each.
Certificates of Deposit
Certificates of Deposit (CDs) are one of the safest investment options available. Issued by banks and credit unions, CDs offer a fixed interest rate over a specified term, ranging from a few months to several years. The primary benefit of investing in CDs is their guaranteed return. Unlike stocks, which can be volatile, CDs provide a predictable return on investment. CDs are ideal for conservative investors who prioritize capital preservation over high returns. To get started with a CD, check out our rates to see which aligns best with your financial goals. Most CDs require a minimum of $1,000.
Individual Retirement Accounts
Individual Retirement Accounts (IRAs) are another valuable tool for long-term financial planning. IRAs come in two main types: Traditional and Roth. A Traditional IRA allows you to make pre-tax contributions, which can reduce your taxable income in the year you contribute. The funds grow tax-deferred until you withdraw them in retirement, at which point they are taxed as ordinary income. On the other hand, a Roth IRA is funded with after-tax dollars, meaning you don’t get an immediate tax break, but your withdrawals in retirement are tax-free. This can be particularly advantageous if you expect to be in a higher tax bracket when you retire. IRAs offer the potential for higher returns compared to CDs, especially if invested in a diversified portfolio of stocks, bonds, and other assets. To get started with an IRA, open an account, and decide on your contribution amount and investment strategy. WinSouth offers Traditional and Roth.
Both CDs and IRAs offer distinct advantages, and the choice between them depends on your financial goals, risk tolerance, and investment horizon. CDs are perfect for short- to mid-term goals and provide a safe haven for your money, while IRAs are essential for long-term retirement planning and offer tax advantages that can significantly impact your retirement savings. By diversifying your investments across both CDs and IRAs, you can create a balanced approach that secures your financial future with stability and growth. Start by assessing your financial situation, researching your options, and consulting with a financial advisor if needed. With careful planning and disciplined investing, you can harness the benefits of CDs and IRAs to build a robust financial foundation for the years to come.
