If you are a business owner, you know how hard it is to make your first dollar. Once that money starts to come in, it’s important to make sure that you are getting the most out of your money. One way to leverage your money in order to make more is through a certificate of deposit, or CD
The main benefit to opening up a business cd Fort Payne AL account is that a CD will net you more interest over time. The only catch is your money is inaccessible for a predetermined amount of time, or the life of the CD product that you choose. Some CD’s had smaller time limits like 2-5 years, while others can be set at 10 years.
Another huge benefit to CD’s is that they are backed up by the FDIC and are insured up to a certain amount so you can rest easy that your money is safe. Unlike the stock market where you can lose and make money based on one account, in a CD, the money can never be lost. CD’s are very predictable as they will grow at the interest rate shown for the set amount of time, which gives you a guaranteed amount to plan on once the CD has run out its terms.
There are more CD products than just a fixed term and interested rate for those that need more flexibility. Variable-rate and adjustable-rate CD’s are available to those that need more flexibility, or who may need to gain access to the money in their CD before the terms of the CD expire.
As you can see, business CD’s are a great option for businesses to consider as they provide predictable outcomes and are safe from any potential losses. Invest your money into a CD today to take advantage of these benefits.