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How to Save More Money with Money Certificates

If you want to create an emergency fund or set aside some extra cash to earn more interest than a typical checking or savings account, consider a money certificate. This investment option helps you grow your hard-earned money faster than a standard savings account, and opening a money certificate account is easy. Why choose a money certificate over other savings account options? Learn the basics of MCs and how they can benefit your investment goals with Personal Finance Center,
 

What is a Money Certificate?

A money certificate, or MC for short, is an investment that allows you to open an account with a minimum amount for a specific period of time. In return, you’ll receive higher interest than typically found with traditional savings accounts.
 
You choose the length of the term, ranging from one month to 42 months, and interest is earned when your MC matures. You may choose to redeem your MC or rollover for another term at maturing. If you withdraw your MC before the maturity date, there will be an early-withdrawal penalty.
 

Tiered MCs

If you don’t want to tie up too much of your savings into a single MC, you may want to consider a tiered MC for your investment. This approach offers a way to spread out your investment using different terms with different maturity dates.
 
With a tiered MC approach, you can grow your money at a higher interest rate than a typical savings account. For example, if you had $10,000, you could deposit that into four MCs, each for $2,500 with different terms. Once each MC matures, you can choose to move that money into a new MC or redeem MC.
 

MCs Terms and Options

At Personal Finance Center, you can open a money certificate for a little as $50. Our terms range from 1 month to 42 months. To determine which might be the right term for you, check out our current MC rates.
 

Longer-Term Investment

If you know you don’t need immediate access to your money and you want to earn better rates than traditional savings accounts, a money certificate may be the right investment tool. The friendly staff at Personal Finance Center are here to guide you through all of life’s stages and can help you decide what MC option makes the most financial sense. For more information you can contact us or email us.