Certificates of deposit, commonly referred to as "CD accounts", offer an attractive choice for people looking for a high yield savings account. If you want to make your money work for you, a certificate of deposit is a great place to get started. By providing compounding daily interest, CD accounts offer a unique advantage as you'll earn a return on your savings with interest.
Geddes Federal is proud to offer CD rates near Manlius NY to empower you with higher interest rates for your savings.
What are Certificates of Deposit?
CD accounts are a type of savings account that earns higher interest for your money than a traditional savings account would. What sets certificates of deposit apart from traditional savings accounts is that they accrue interest on the deposited amount for a set period of time, and additional funds cannot be added until its maturity. A CD account allows you to lock in a set interest rate throughout the term, whereas interest rates for a traditional savings account may fluctuate. Interest for CD accounts may be reduced if funds in the account are withdrawn before the CD term ends.
Is a Certificate of Deposit near Manlius NY Right for You? Let's Talk About Your Options
Benefits of Certificates of Deposit
Most people would like to earn interest on their savings, but the uncertainty of the stock market can make some hesitant to invest their money into it. Certificates of deposit are a great option for people looking for a more secure investment option compared to the stock market, because CD accounts guarantee a return on your investment.
CD accounts are also great for achieving savings goals with a fixed term for interest accrual, allowing you to proactively plan your finances. To learn more and view CD rates near Manlius NY...
What Can You Use Certificates of Deposit For?
Being a type of savings account that accumulates interest for a fixed period of time, CD accounts are a great option when saving toward a goal. Upon maturity of your certificate of deposit, the funds can be used for a wide range of personal financial goals. This includes, but is not limited to:
- Vacation funds,
- Weddings,
- Big ticket purchases,
- Supplemental savings toward retirement savings accounts,
- And anything you're looking to save for
Make Your Money Work for You with CD Rates near Manlius NY
You can count on your neighbors at Geddes Federal to help you get more from your savings. Our CD rates are perfect for people seeking high-yield savings accounts.
If you're looking to start saving with Certificates of Deposit, explore our CD rates near Manlius NY below.
About Our Certificates of Deposit near Manlius NY
- Available from 5 months up to 72 months
- Minimum deposit of $500 to open a CD account
- Compounded daily interest, posted quarterly
- Online banking