储蓄账户

We have three options. Our basic savings earns 0.5% APY with no minimum balance. Our high-yield savings offers 4.5% APY but requires a $1,000 minimum. And our money market account gives 4.8% APY with a $5,000 minimum and comes with check-writing privileges.

You get six free withdrawals per month. After that, there's a $10 fee per transaction. Also, if your balance drops below $1,000, the rate falls to our basic rate of 0.5% until you bring it back up.

I'll need a valid photo ID — passport works great — and your Social Security number or ITIN. If you don't have an SSN yet, we can use your passport and visa. I'll also need a US mailing address. The whole process takes about fifteen minutes.

Great timing — our CD rates are very competitive right now. A 6-month CD is at 5.0% APY, 12-month at 5.2%, and 18-month at 4.9%. The minimum for all CDs is $500. Keep in mind, if you withdraw early, there's a penalty — typically 90 days of interest for CDs under a year, and 180 days for longer terms.

Yes, it auto-renews at the prevailing rate unless you tell us otherwise. You'll get a maturity notice about two weeks before, and then you have a 10-day grace period to withdraw or change the term without penalty. I'd also recommend considering a CD ladder — splitting your money across different terms so you have regular access to portions of your funds.

Absolutely. Here's what I'd suggest: split the $10,000 into four equal portions of $2,500. Put $2,500 into a 6-month, $2,500 into a 12-month, $2,500 into an 18-month, and $2,500 into a 24-month CD. Every six months, one CD matures and you can either use the money or roll it into a new 24-month CD at the top of the ladder. That way, you're always within six months of having some cash available.