Why Open a CD?
When you open a CD, you’ll find it’s similar to opening a normal bank deposit account. The defining difference is that you agree to specific terms you must abide by when you sign for a CD. These terms include how much you deposit into the account, how long you agree to leave your funds deposited for, and the set interest rate.
A few advantages of CDs include:
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CDs allow users to save more without taking on the risks and volatility of a money market account.
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Fixed interest rates provide predictable returns on your deposit over specific periods of time.
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Funds can be withdrawn penalty-free after your agreed term ends.
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If opened with an FDIC bank like Lineage Bank, CDs are federally insured.
Is a CD Right for You?
While a common belief is that CDs are more useful later in life, that isn’t quite true! CDs are a safe way to save more than you would using a regular savings account. If you’re looking to save up long-term for a large purchase, such as a car, a house, or even a vacation, CDs can be exceptionally useful.
A CD has higher rates that offer higher savings without the risks of stocks or bonds, and they help curb the temptation to spend your savings with the penalty for early withdrawal. Simply put, if you want to make sure the money you’re saving is going to grow in value, a CD is a great option for you.
Traditional IRAs
Traditional IRAs are tax-deferred retirement savings accounts, and they offer several advantages for customers.
Tax Advantages
IRAs have many tax advantages if utilized properly.
FDIC Insurance
Ensured up to $250,000 per depositor.
Future Savings
Set yourself up for continued financial success.
Is a CD Right for You?
If you’re interested in opening a CD or IRA with Lineage Bank or you’d simply like to learn more about the special rates we offer, stop by one of our locations or fill out the form below! A dedicated team member will get back with you as soon as possible to schedule a meeting.
Locations
Downtown Franklin Branch
120 5th Ave N.
Franklin, TN 37064
(629) 248-9085
support@LineageBank.com
Cool Springs Branch
3359 Aspen Grove Drive
Franklin, TN 37067
(629) 248-9092
support@LineageBank.com
Downtown Franklin Branch
120 5th Ave N.
Franklin, TN 37064
(629) 248-9085
support@LineageBank.com
Hours
Monday - Thursday: 8:30 am - 4:00 pm
Friday: 8:30 am - 5:00 pm
Closed Weekends
Cool Springs Branch
3359 Aspen Grove Drive
Franklin, TN 37067
(629) 248-9092
support@LineageBank.com