Best Banks in Austin Texas 78705

[Bill Shoubless]

CERTIFICATES OF DEPOSIT


Get the best of both worlds—flexible terms and higher interest rates with our Certificate of Deposit accounts. Whether you’re investing for a few weeks or five years, this account can handle it.


Come in to one of our locations or call us for various terms and rates.


When comparing types of bank accounts, consumers may choose to save with a money market account if they find one with a competitive interest rate and enjoy the flexibility of withdrawing money when needed (notwithstanding typical limits on the number of monthly withdrawals allowed from a money market account). Money market accounts can also be enticing when they offer check writing and debit card access.2 If you’re just parking your money in a money market account and don’t actually need to make withdrawals, you may be able to earn more with a CD.

With a CD, you agree to leave your money in the bank for a set term. Typically, the longer the deposit period, the higher the interest rate. Chelsea Brennan, an investment professional and blogger at Mama Fish Saves, says the benefit of saving for shorter-term goals with a CD is that your money is more likely to remain committed to its purpose. Alternatively, when you can dip into the funds easily, as with a money market account (and some other types of bank accounts), “this only makes it harder to reach your ultimate goal,” she says.


A simple way to reach your goals.


If the answer to where should I keep my savings leads you to open a certificate of deposit, note that you’ll be charged an early withdrawal penalty if you take out your money before the CD maturity date. You may want to avoid putting your money in a CD if there’s a chance you’ll need it to cover an emergency before it mature

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Best Banks in Austin Texas 78705