New York Banking Rates

Top 3 Reasons New York CDs are the Best Investment

New York residents know their finances as well as anyone else in the country, so they’re well aware of the different investment options available to them. But as great as some investments sound, they usually carry a tremendous amount of risk, but not CD accounts. The best NY CD accounts have continued to grow in popularity, and here are the top 3 reasons you should consider opening one up if you don’t have one already.

1. Affordability

Most CD accounts only require a $1,000 minimum deposit balance, which means it’s easier than ever to save. There are no real fees to speak of, making this one of the most effective investment tools you can access.

2. Protection

Many people are afraid that the stock market could take another huge dip, thanks in part to the growing national debt concerns and exposure to risky investments. CDs will be a constant provider of great protection from risk, and are great ways to hedge against potential losses in your other investments.

3. Guaranteed Results

It’s not easy to find investments that can always guarantee you a great rate of return, but CDs do just that. You’re sure to earn interest and recover your initial deposit as long as you don’t withdraw the funds before the CD maturity date.

Certificates of deposit will go a long way towards helping you to build wealth and work towards true financial freedom. Before you commit to one CD account, make sure you check interest rates using New York Banking Rates. Use our site to start researching the best NY CD rates today.