Saving using piggy banks will never be enough for those who want to save sufficient money for the future. This is the main reason why people would want to open certificate of deposit accounts. There are many banks and other financial institutions or groups that offer certificate of deposits for those who are interested and willing to make their money earn interest. In this way, their money will increase its worth in a specified time. Since there are so many banks today, it is best to choose or select the one that will have the best interest rates and the best terms or programs for the CDs.

One institution that we can consider is Quaint Oak Financial Savings. This is a community bank that makes things simpler and easier in terms of financial problems and issues. Their main goal is to help clients build and attain financial security by saving which is why they have different terms of certificates of deposits for families to choose from. They serve their customers with utmost respect and this is also the reason why their clients keep investing more. They provide excellent customer service and competitive rates.

CD Rates

The most recent rates they have effective on June 22, 2012 include the 6 months term with an interest rate of 0.44% and an APY or annual percentage yield of 0.45%. For those who will be choosing the 12 months term, the interest rate is 0.74% and APY of 0.75%. While the interest rate for the 18 months term is 0.83% and the APY is 0.85%. For the longer terms like the 24 months will have an APY of 1.05% and an interest rate of 1.03%. And the last term which is the 36 months has an interest rate of 1.42% and a 1.45% APY. The minimum deposit for the CDs is $500 which is a small amount yet a great way to earn and save more.

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