Biz Views

How can you benefit from a certificate of deposit?

SPONSORED POST

Do you know that a certificate of deposit (CD) have many benefits for you? Whether you want to save money or invest your money, a CD is a great option. In an easy way, a CD place your money with the payment of a higher and fixed interest rate, in a convenient period that can be from one month to five years.

Most of the time, the financial institutions request an initial deposit of $1,000 and the benefits you will get are many. Here you will find some of the more important ones:

  • They are easy to request and obtain. In a matter of minutes, you can have a CD in a bank.
  • You can open a CD with a relatively low amount of money. There are institutions that allow you to do it with $1,000.
  • You choose and establish from the first day the period or term that suits you to keep it.
  • It helps you create a savings discipline for your financial life that will help you establish a favorable behavior to meet your economic goals.
  • The risk level are conservatives and interests are credited and computed each month.
  • It’s a great tool for savings, because it has an expiration date that you can base on your priorities.
  • It becomes part of your financial history for loan applications or bank management in the future.
  • You can design your future financial life and you will not need to focus only on current savings.
  • Following this line, you can predict the income that you will have as a result of obtaining a CD. This in turn gives you the opportunity to visualize future incomes.
  • They are FDIC- insured up to $250,000.

These are some of the benefits you will receive from a CD. Based on your situation, this could be an alternative to successfully grow your financial life.

For more information about CD or if you are ready to obtain a CD, you may contact us at 787.777.7777.

Oriental Bank is a subsidiary of OFG Bancorp. Member FDIC

 

Author Sandra Cabanillas is product manager at Oriental.

Author Details
This story was written by our staff based on a press release.

Can we count on you?

As recent events have shown us, independent and responsible journalism is more important than ever. That’s why your support is very necessary to ensure that we will be around for a while!

We want to stay true to our mission of delivering quality journalism…for that, we count on your support. Every contribution, big or small, is greatly appreciated!

Use the PayPal button below and contribute today!


Comment here