FAQ Category: Save to Win CD
What does APY mean?
APY stands for Annual Percentage Yield. It is a measure of the total amount of interest earned on an account based on the interest rate and the frequency of compounding over a year. APY is a useful metric for comparing the annual earnings on different savings products, such as savings accounts, CDs, and money market accounts, because it standardizes the ...
Continue ReadingCan I withdraw my money from the Save to Win® CD before the term ends?
Yes, you can withdraw your money early from the Save to Win® CD; however, penalties will apply. The APY² is based on the assumption that interest will remain in the account until maturity. If you make an early withdrawal, it may reduce your earnings. For CDs with a term of 6 months or less, the penalty is the loss of ...
Continue ReadingHow much do I need to open a Save to Win® CD?
The minimum deposit to open a Save to Win® CD is $25.
Continue ReadingWhat is the interest rate on the Save to Win® CD?
The APY² on the Save to Win® Certificate of Deposit is .
Continue ReadingHow does the Save to Win® CD work?
To participate, simply open a Save to Win® Certificate of Deposit with a minimum deposit of $25. For every $25 you add, you earn one entry into the prize drawings. There are monthly, quarterly, and annual drawings for cash prizes.
Continue ReadingWhat is a Save to Win® Certificate of Deposit (CD)?
A Save to Win® CD is a special certificate of deposit that rewards you for saving. Every $25 you add to your CD earns you an entry into monthly, quarterly, and annual prize drawings. The more you save, the better your chances to win!
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