Capitol Federal® - Where Your Savings Plan Comes Together
At Capitol Federal®, our philosophy includes a commitment to helping you protect your money. Whether you’re saving for college, retirement, an unexpected expense or a rainy day, trust CapFed® to be there every step of the way. We have the products, services and dedicated employees ready to help you on your financial journey. Check out these savings options below, all are FDIC insured to the maximum allowable by law and will not lose value, so you know they are a dependable savings option:
• Savings Account: If you are opening your first savings account or want to save for unexpected expenses or special purchases, this is the account for you. You can automatically deposit money into this account from another CapFed® account, or from a different financial institution. With as little as $100, you can begin to save for the future – all while earning interest and having access to True Blue Online®. At Capitol Federal®, your savings is always safe and secure – it’s our True Blue® promise.
• Money Market Select: Earn a higher interest rate and have cash easily available with a Money Market Select account. It is similar to a savings account but with the added features of a checking account, leaving you greater flexibility in transferring funds to and from the account for alternative investments. There is no monthly service charge with an average daily balance of $1,000 or more. Interest is compounded daily and is credited to the account on the last day of each calendar month. Transaction limits apply.
• CDs: A Certificate of Deposit provides a predictable return over time and is FDIC insured to the maximum allowed by law. With our CDs, you can earn a higher interest rate than a traditional savings account and feel secure knowing your money is growing in a safe investment. There are penalties for early withdrawals, so make sure you select the term that works best for you before opening a CD. You may also open several CDs in a strategy known as a CD ladder. This gives you some financial flexibility while taking advantage of future interest rates.
• IRA: Retirement near or far? Either way, achieve greater growth and tax advantages from an Individual Retirement Account (IRA). Roth IRAs allow for potential tax-free withdrawals during your retirement, while Traditional IRAs may reduce your taxes now and earnings are not taxed until you take your money. Regardless of which you choose, IRAs offer an opportunity to save for a comfortable retirement with long-term tax benefits. Keep in mind, rules regarding maximum contributions and income limits for IRAs change each year.
If you’d like to learn more about our savings plans, visit here.
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