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Pay Yourself First to Grow Your Savings

Here are three simple tips to help you start a regular savings habit by paying yourself first.

 

  • An easy way to do that is to schedule money to move automatically from your checking account to your savings account at least once a month.
  • Schedule the timing to happen right after your paycheck is deposited to make it easier on yourself.
  • Look for an account that offers a competitive rate to help you start a savings account and save faster. The Propel Savings account from Cadence Bank is a great example. It pays 0.85% APY* if you transfer at least $25 monthly from your Cadence checking account, on balances up to $25,000. You can even open a Propel account online.

Compare 0.85% APY on a savings accounts to other banks' rates on a savings account and you'll know what a great offer this is! Come by a Cadence branch near you to learn more, or call us at 800-636-7622.

 

If you’re already a saver, with money you won’t need to access for a few months or longer, you may prefer to invest in a Certificate of Deposit.

 

Longer terms generally mean higher rates. If you’re shopping around for CDs, stop by a Cadence branch to find out about the CD rates we are offering now.

 

* APY is Annual Percentage Yield. APY is accurate as of 3/20/2020 and is subject to change. Minimum opening deposit is $25. Maximum balance to receive 0.85% APY is $25,000. If balance exceeds $25,000, the interest rate for the entire account balance will be 0.10% APY. Requires recurring auto-deposit from Cadence checking of at least $25 in aggregate monthly. Account converts to a Personal Savings account if auto-transfer of at least $25 in aggregate does not occur in month prior. Fees may reduce earnings.




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