While many members choose Amplify for our commitment to fee-free banking, we also offer savings tools for those who want to grow their nest egg or rainy-day fund. In this article, we’ll explain how to open a certificate of deposit and start earning interest in your deposits at Amplify.
Key Takeaways:
- Amplify offers certificates of deposit for as little as $500.
- You can open a certificate in online banking or at any Amplify branch.
- Contact our Virtual Branch at virtualbranch@goamplify.com with questions about opening a certificate of deposit.
What is a certificate of deposit?
A certificate of deposit is an account that offers higher savings rates in exchange for keeping those funds with your financial institution for a set period. Typically, your savings rate varies depending on the length of the certificate you agree to. These time periods can range anywhere from months to years.
How much do I need to deposit to open a certificate?
You can open a certificate of deposit at Amplify for any length of time with as little as $500.
Can I open a certificate online?
The easiest way to open and fund a certificate of deposit is through online banking.
- Log into online banking.
- Click Apply / Open on the main menu.
- Click Open Account on the dropdown menu.
- Click Certificate Account from the dropdown menu.
- Select your preferred certificate terms and click Continue.
During the application process, you will be prompted to transfer funds from an existing Amplify account to your new certificate. If you plan to transfer or deposit funds from an external account, make sure those funds appear in your Amplify account before opening a certificate.
Can I open a certificate in an Amplify branch?
If you would prefer to open a certificate of deposit with a check or money order, you can stop by any Amplify branch during normal business hours.
Can I talk to someone about opening a certificate?
If you would like to learn more about our certificates of deposit, we recommend reaching out to our Virtual Branch at virtualbranch@goamplify.com. Our team will be able to schedule a virtual or phone conversation to answer your questions. They can also provide support throughout the online account opening process.