ALEC Variable Rate Certificates offer highly competitive rates, currently at variable-rate-certificate APY* and vary on a monthly basis with the 13-week U.S. Treasury Bill (Index + 0.15%)**. Variable rate certificates can benefit from rising interest rates, even if there’s a chance that rates could also go down. But compared to traditional savings and money market accounts, ALEC Variable Rate Certificates typically offer a higher rate of return.
ALEC Variable Rate Certificates feature:
- $500 minimum to open the account
- Available as a traditional certificate, IRA or HSA
- Term of 24 months
- Dividends tied to the U.S. Treasury Bill paid monthly
- Automatically reinvested dividends for maximum compounding