Yes, it’s true. You can earn more on your money without adjusting your budget and cutting out Netflix, dining out, or buying new clothes. We’re talking about taking the extra money you have now and using it to make more money.
Not sure where to start? We have just the right savings products to help!
Take your monthly income and subtract your bills and other necessary payments, the amount that’s left is your flexible spending amount. Instead of leaving that spending amount in your Checking Account or hiding it under your mattress, consider investing it in a Certificate of Deposit (CD) or Money Market Savings Account, where you’re able to earn more money (interest) on your funds.
You don’t need a large sum of money to open a CD. Our Smart Saver CD and EZ-Saver CD only require a $50 minimum deposit to open, and you can make additional deposits throughout the term. With our Smart Saver CD, you’ll earn 3% more on your money for 12 months; whereas our EZ-Saver CD offers 1.10% APY with variable term options: 6, 12, and 24 months.
A Little Information On Interest
If you’ve had a loan, credit card, or savings account, you’ve probably seen “APR” and “APY”. Annual Percentage Rate (APR) is simply the interest rate as a percentage. Annual Percentage Yield (APY) is that straight rate, compounded—meaning you’re basically earning additional interest on the interest you’ve already earned. With Savings Accounts, like CDs and Money Market Accounts, interest is measured as APY and is compounded monthly, quarterly, or annually. Advia’s CD products calculate interest monthly. Since this is more frequent than quarterly or annually, you’re getting an even greater return on your investment. Also, with Advia you get to choose into which account you want your monthly interest deposited: Savings, Checking, or another account.
For example, if you opened our Smart Saver CD with as little as $50 and continued to make gradual deposits up to $500 over the 12 months, you’d earn an additional $15. Or, if you invested the maximum deposit of $5,000 for the 12 months, you’d earn an additional $152. Now that’s easy money!
Most likely, unless you’re an Advia member with premium Checking, your checking account is earning you very little interest, about .00-.05% APY. As you can see, if you were to open a CD or other Savings Account with a higher interest rate, you’d be getting more money back in your pocket.
How You Can Maximize Your Money
Now that you’ve had a little refresher course on earned interest, choose the savings product that best fits into your lifestyle. We are always optimizing our products to better serve our members. We’re excited to introduce our newest Smart Saver CD that offers a low deposit amount and a high interest yield!
A CD that fits your lifestyle and that’s perfect for those getting started with investing. Start with a low deposit and add more cash throughout the 12-month term.
Guaranteed return without a sizable deposit? We do that too! You can also make additional deposits into the CD whenever you have spare cash.
Earn greater returns with our Regular CD. Great CD for those with a little extra flexible spending. Same high interest rate as the Smart Saver CD, but with flexible term options.
Earn 4x more on your savings!*
Our Regular Share Savings Account is our most straightforward Savings Account. You put in money, we give you interest!
Holidays happen once a year, but saving for them doesn’t need to!
Don’t let your money sleep, put it to work to earn money for you! Use our helpful savings calculators to decide which account is right for you and how you can maximize the money you already have.