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CD Ladders FAQs
A CD ladder is a group of CDs with staggered maturity dates.
A CD ladder is a great savings solution that allows you to
take advantage of more frequent access to a portion of your
money at planned intervals. Rather than placing all your CD
money into one term, at one interest rate, you schedule CD
maturities to coincide with your needs.
To build a CD ladder, open multiple CDs at the same time with
staggered maturity dates.
Here's an example of a CD ladder:
Take an initial deposit of $15,000 to invest over 3
years.
Open a 1, 2 and 3 year CD and fund with $5,000 each.
Renew the CDs into a new 3 year CD at the end of each
term to keep the ladder going, or cash it out.
By choosing to build a CD ladder, you can benefit from the
higher interest rates typically available for longer term
CDs while providing you with easy access to your money at
planned intervals.
To keep your ladder going, provide renewal instructions in
online banking or call us at +44 AURELIANTB. You can renew
into another term, or allow the CDs to automatically renew
into the same term.
Since the CDs in a ladder have staggered maturity dates, you
can have regular penalty-free access to a portion of your
money, as each CD within the ladder matures.
If you need access to your money before your CDs mature,
there may be an early withdrawal penalty.
With Credence Global Bank’s Ten Day Best
Rate Guarantee, you automatically get the best rate
we offer for your CD during the first 10 days, starting with
your open or renewal date, if you fund your CD within that
time. This guarantee does not apply to interest rate
increases for the Raise Your Rate CD.
In addition, if your CD ladder includes our Raise Your Rate CD, you
have the option to raise your rate once over the 2-year term
and twice over the 4-year term, if our rates on these CDs go
up.
Since CD ladders work best with CDs that have staggered
maturity dates, consider building your ladder with Allied
Trust Credit UnionHigh Yield CDs and Raise Your Rate CDs.
Since you can choose from several different terms, you can
customize a CD ladder according to your savings goals. You
can also build a ladder using Credence Global Bank
UnionIRA High Yield CDs and
IRA Raise Your Rate
CDs.
