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Personal Finance Advice You Can Count On.

We make it easy to do everyday banking at Horizon, but everybody still needs some sensible advice from time to time to help with their goals and strategies for saving, investing wisely and making the most out of your financial journey. That’s why we provide fresh advice topics to help you along the way.

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Is Now the Time to Get a Certificate Of Deposit?

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Risk tolerance for high-yield accounts is at an all-time high. High-yield accounts like certificates of deposit are secure accounts to store your money. They make more interest, which puts more money in your pocket for necessary expenses. So now is the time to get a certificate of deposit!

2022 Market Conditions to Consider

  • The market is volatile. When the market fluctuates, your investments are at risk. You could make a lot of money, but you could lose money, too. A certificate of deposit is a much smarter investment strategy in a volatile market if you have funds to invest or save for emergencies, upcoming major expenses, or other close savings goals.
  • Interest rates are increasing. As inflation continues to rise, so do interest rates for high-yield accounts. A higher interest rate. means a higher return when you cash out your certificate of deposit. For example, you can make 10-20 times more in interest with a certificate of deposit compared to a traditional savings account.
  • Certificates of deposit have guaranteed returns. Unlike investments in stocks, certificates of deposit are FDIC-insured for up to $250,000. That means you'll never lose your investment even as the market rises and falls.
  • Your goals matter. High-yield accounts are a sound investment solution when you have a specific goal in mind. For example, a different type of investment strategy might make you more money if you want to invest money for returns in 10-20 years. But if your goal is more specific, such as wanting to purchase a car or fund a wedding, and you won’t want or need the money for the next few months or years, now is the time for a certificate of deposit.

High-Yield Savings Account Calculator

Find out how much you can make with a Horizon Bank certificate of deposit today. Our savings account calculator can give you insight, and our advisors are happy to discuss your options with you. Call us today at 888-873-2640 to learn more!

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