Did you know that you can earn money by opening a deposit account with Cornerstone Bank? Banking jargon and numerics can sometimes get confusing… we get it! In this blog, we’ve broken down the types of deposit accounts you can open at Cornerstone Bank, what they mean, and the value each brings to your finances.
Whether you’re looking to save, invest, or simply manage your funds, we offer personalized deposit accounts designed to suit your needs.
Checking Accounts:
NOW Checking Accounts are basic checking accounts that earn a small amount of interest. They are good for everyday spending and keeping money easily accessible. What’s even better is that you can earn money by having money in a NOW account!
Money Market Accounts:
- Personal Money Market accounts offer slightly higher interest than a standard savings account. They typically reward higher balances with better interest rates. This type of account is more flexible than a CD, but less flexible than a checking account.
- Business Money Market accounts are similar to personal money markets, but designed for business use. They help businesses earn some interest on their working capital.
For information on interest rates for money market accounts, call Tyler (913-396-0736) or Mark (913-396-0717)
Certificates of Deposit (CDs):
- CDs are savings options where you lock money for a set time period. There are typically higher interest rates for longer commitment periods. It is important to know that there are penalties for withdrawing money before the term ends. CDs are good for money you don’t need immediate access to.
For information on CDs and their interest rates, call Tyler (913-396-0736) or Mark (913-396-0717)
Certificates of Deposits (CDs):
- Minimum $1,000 to open
- Interest compounded quarterly
- Early withdrawal may incur penalties
For more information on interest rates for CDs, call Tyler (913-396-0736) or Mark (913-396-0717)
What to Takeaway:
Rates are variable and are subject to change. It is typical to expect a $100 minimum when opening a deposit for most accounts.
Banking at Cornerstone is the right choice when looking to invest, save, or simply manage your funds. We offer personalized deposit accounts designed to suit your needs. Get started today and watch your money grow with our competitive rates and flexible options.
