What is a Traditional IRA Certificate?
A Traditional IRA Certificate is a type of savings product offered by financial institutions that combines the benefits of a traditional Individual Retirement Account (IRA) with the features of a Certificate of Deposit (CD). Here’s a breakdown of its...
Continue ReadingWhat is a Roth IRA Certificate?
A Roth IRA Certificate, also known as a Roth IRA CD (Certificate of Deposit), is a type of investment that combines the benefits of a Roth Individual Retirement Account (IRA) with the fixed interest rates and security of a Certificate of Deposit...
Continue ReadingWhat is a Certificate of Deposit?
A Certificate of Deposit is a secure and reliable savings tool that offers higher interest rates in exchange for committing your funds for a fixed period. It's an excellent option for those looking to achieve specific financial goals with minimal...
Continue ReadingWhat is a CD Ladder?
A CD (Certificate of Deposit) Ladder is an investment strategy that involves dividing a sum of money into multiple CDs with different maturity dates. The primary goal of this approach is to balance the benefits of earning higher interest rates on...
Continue ReadingAm I notified when my CD is maturing?
You will receive a notice in the mail 30 days before the maturity date of your...
Continue ReadingCan I add funds to my CD within the term?
Once the initial deposit has been made funds cannot be added to the CD until maturity. Once the CD matures you may add funds if you wish to renew the...
Continue ReadingIs there a penalty if I withdraw from/close my Certificate of Deposit (CD) early?
Yes. The penalty for withdrawing from/closing the CD will be based on the interest earned on the...
Continue ReadingIs investing into a CD worth it?
Although a CD is not necessarily liquid, it is considered one of the safest investments available. The longer CD you have, the higher the rate is going to be. There are no fees for the Certificate of Deposit, and you earn interest based on the balance in...
Continue ReadingWhat’s the minimum I need to deposit into a CD?
People Driven offers multiple CDs starting from just a $25 minimum! Please reach out to us at 248-263-4100 if you have any interest in a CD or check out our CD...
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