- How a CD Loan Works
In volatile markets, certificates of deposit (CDs) stand as a beacon of stability and opportunity through their unique blend of security and growth potential. However, surprise expenses can come up, leaving you wishing you could withdraw your funds before the term expires. Fortunately, CD loans are available at some banks and credit unions, allowing you… Read more…
- Are You Missing Out on This Simple Growth Strategy for Your Cash?
It’s been some time since certificates of deposit, or CDs, were a good investment, but that’s changing in the current market. Today’s higher interest rate environment has made CDs not just viable, but for the first time in years, a potentially strong near-term investment. While average interest rates on 5-year CDs have climbed to just… Read more…
- What Is a Zero Balance Account?
Banking offers many options for your business needs. One such offer is a zero balance account, which offers businesses an effective way to optimize cash management, improve liquidity, reduce borrowing costs and streamline financial operations. Here’s a breakdown of the advantages and disadvantages. A financial advisor can help you create a financial plan for your… Read more…
- Average Minimum Balances for Online Savings Accounts
Online savings accounts offer some attractive features including minimum balance requirements that are generally lower than traditional savings accounts. In fact, the typical online savings account has no minimum balance at all, compared to minimum balances of hundreds of dollars required by many financial institutions with physical branches. Online savings accounts may not be right… Read more…
- How Much Money Should I Keep in My Checking Account?
Almost everyone has a checking account, but the amount of money people keep in their checking accounts varies widely. Checking account balances tend to vary with income, age and other factors. Deciding how much money to keep in your personal checking account requires looking at more than your paycheck and birth certificate, however. Here’s what… Read more…
- How to Open a Compounding Interest Account
Managing your finances, especially as pertains to planning for retirement can be a daunting task, but simplifying it typically starts with grasping the concepts of compound interest. Compound interest, when used strategically, can significantly contribute to your progress toward financial health and long-term wealth creation. You can build your compound interest in a number of… Read more…
- FDIC vs. NCUA: Where Is Your Money Safest?
Both the Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Administration (NCUA) insure financial institutions with the backing of the government. But while the FDIC provides insurance for bank deposits, the NCUA insures credit union deposits. Here are the key differences. If you want to maximize your savings, a financial advisor can help… Read more…
- CD Calculator
Use SmartAsset’s CD calculator to see how much your CD can earn based on your deposit size, the length of the term, its interest rate and how often it compounds. Understanding CDs Certificates of deposit (CDs) can be a safe and steady way to grow your money with minimal risk. By selecting the right type… Read more…
- How to Create an Automatic Savings Strategy
If you’re thinking about securing your financial future, some of the latest banking technology is your friend. Automatic savings helps you consistently set aside money without lifting a finger. You can automate your savings and maximize your retirement fund through specific strategies and apps. Here’s what to know. For help creating the right automatic savings… Read more…
- Is My Money Safe in the Bank?
In recent months the FDIC has managed two of the largest bank failures in U.S. history. The collapse of Silicon Valley Bank (SVB) and Signature Bank happened shockingly fast. And First Republic wasn’t far behind. Consumers have plenty of questions, as… Read more…