Certificate of Deposit Alternatives

Certificate of Deposits (CD’s) are a safe way to invest some extra cash and offer competitive interest rates. These rates are up to 5 or more times the interest rate of a traditional savings or checking account. Unfortunately, when purchasing a Certificate of Deposit, there is also a time commitment involved, usually ranging from six months to 7 years. For this reason alone, many potential buyers decide against this investment. However, what if there was a way to earn a higher interest rate without the time commitment required by a traditional, multi-year CD? Even more important, the money would still be FDIC insured and available when needed?

Fortunately, Home State Bank has solved this problem by offering checking that pays CD-like rates. This way, money is easily accessible from a checking account in case of emergencies and is still earning more than if left in a traditional checking or savings account. Helping people save even more money, members are offered free nationwide ATM usage nationwide. Over time, this service alone can save hundreds of dollars per year and is an important member benefit when traveling.

Members can find out more information about these services from a branch representative or on Home State Bank’s website.