What To Know About Guaranteed Interest Rates

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Stability in finance is usually the hub of building wealth, and sometimes, you want a sure way to increase your savings without concerning yourself with the fluctuations in the market. Guaranteed interest rates could be a great option for such people.

In this guide, we’ll discuss what guaranteed interest rates are, their benefits, and how to consider a product when choosing to feature this.

What Are Guaranteed Interest Rates?
Guaranteed interest rates are financial products that promise to give some kind of guaranteed fixed return over a set period. Some of the most common carriers for such rates are usually fixed deposits, GICs, and annuities. Here, you know exactly what you will gain, making it easier to plan your finances.

Benefits of Guaranteed Interest Products
These financial products protect your principal investment while providing a email list steady interest income. This can especially come in handy for retirees or anyone near retirement, as it gives them peace of mind knowing their money isn’t going to be at risk.

Guaranteed interest rates could also help you diversify your portfolio. As long as the investment is low-risk and stable, you balance that out with the higher-risk options to ensure part of your savings grows steadily with the flow of time.

How to Get the Best Rates
You should compare and shop around when looking for the best-guaranteed interest rates, just as you would when finding other products. As a matter of fact, different banks and credit unions have different rates and this depends upon the market situation prevailing at the time and term of investment.

For example, to find the best GIC rates, you have to check the long-term rates with the short-term ones in order to get the best bargain. Some institutions offer promotional rates, so look out for these offers, too.