If your business has additional funds that it won't need for a specific time period, maximize returns with a CD. Retain what funds you may need in a savings account, and put the rest in CDs where they will earn more. Federal insurance make this a risk-free profit generator.
Details
- Set aside for future business goals
- Competitive, fixed rate for length of term
- Greater earnings than standard savings
- Receive higher rates by selecting a longer term
- Provides more guarantee than other risky investments
- A wide range of terms available (from 3 months to 5 years)
- Penalty for early withdrawal
- $1,000 minimum deposit to open
- FDIC insured