If you’re looking to save money for the future while earning more interest than a traditional checking or savings account, consider a certificate of deposit (CD). This popular savings option helps you grow your hard-earned money faster than a standard savings account, easily and securely. Why choose a CD over other savings account options? Learn the basics of CDs and how they can benefit your savings goals.  

What is a CD?

A certificate of deposit,(CD) is a smart savings option where you deposit a minimum amount for a specific period of time. In exchange, you’ll receive higher interest payments than typically found with money market accounts and traditional savings accounts. Additionally, a CD is backed by FDIC insurance, so you’re never at risk of losing money.

You can choose a CD term ranging from months to years, earn interest, and take the payout or reinvest in another CD when it matures. If you withdraw money before the maturity date, most banks will issue an early withdrawal penalty. It’s wise to invest in a CD when you can keep your money on deposit to maximize your savings. 

Laddering CDs

If you don’t want to lock up your savings into a single CD, consider CD laddering. This approach offers a way to spread out your investment using multiple CDs with different maturity dates. 

With CD laddering, you can earn higher interest than a typical savings account, without locking up all your savings at once. For example, if you had $10,000 to invest, you could deposit that into four CDs of $2,500 with different terms. Once each CD matures, you could choose to move that money into a new CD or take the cash. At Ameris Bank, you can open a CD for as little as $1,000. Our terms range from 1 month to 5 years, and feature higher interest rates for future expenses, major purchases, or a comfortable retirement with IRAs. 

Longer-term savings

If you don’t need immediate access to your money and want better rates than with a traditional savings account, a CD could be a smart savings tool for you. Ameris Bank offers a variety of options to grow your savings and help you reach your long-term savings goals.

The experts at Ameris Bank are here to guide you through all life’s stages and help you choose the savings account or CD that fits your goals. If you have any questions about growing your savings, contact us or visit one of our branches.


Reviewed April 2025

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.