American Bank CD Rates

Are you ready for a bank that has the kind of certificate of deposit rates that are looking for? If yes then you need to find out more about the American Bank CD rates. The bank has so much to offer all of its current customers as well as its potential customers when it comes to saving and investing options.

Are you ready for a bank that has the kind of certificate of deposit rates that are looking for? If yes then you need to find out more about the American Bank CD rates. The bank has so much to offer all of its current customers as well as its potential customers when it comes to saving and investing options.

You might want to open a personal savings account if you want to play it safe. A savings account is a good beginning but unfortunately it will not bring you much in the way of interest. It is a smart way to save money but not a form of investment because the returns are so small.

A CD account is another issue all together. A certificate of deposit is a form of savings and an investment all rolled into one. It is like getting two for the price of one! The American Bank CD rates are very competitive with other financial institutions and give you the chance to get your money doing what you want it to which is to earn more money for you! What could be better than that?

The terms available at the American Bank for certificates of deposit offer something for every type of investor. There are CDs that are as short as 30 days and ones that are as long as two years. The interest rate for the American Bank is fixed which means that you are locked in for the rate that you open the account at. This is as opposed to a variable rate which is less steady and can rise or fall with the current interest rates.

The longer term you choose the more interest you have the potential to earn. A six month CD will earn you more interest than a three month one but less than a 12 month one. The American Bank offers two different types of CDs to its customers. There is the Money Market CD and the Jumbo CD.

A Money Market CD requires an opening balance of $1,000 while a Jumbo CD account only requires $500. Both of these CDs are auto renewable which means that they will automatically renew once the maturation date has arrived (unless you choose to withdraw your money). Another wonderful feature of both of these CDs is that you are allowed to add money to them at any time during the terms.

You are never charged a monthly maintenance fee on your CDs through the American Bank. There are no transaction charges to speak of but you will be subject to an early withdrawal penalty fee if you decide that you want to take your money out before the date of maturity. To learn more about the American Bank CD rates visit http://www.americanbank.com/.