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Delta credit union 12 month CD 1.5% APR, min $1000 deposit

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Just came from Delta Credit Union. They are running a promotion on 12-month CD, 1.5% APR, min $1000 deposit. This rate usually is for a 5-year CD, but they are offering this for 12-month CD.

https://www.deltacommunitycu.com/...posit.aspx

Company---------------------------------------Product Name APY*
Delta Community CU Certificate of Deposit Accounts 1.50%
SunTrust Suntrust CD 0.35%
Regions Regions CD 0.10%
Bank of America Fixed Term CD 0.05%
Wells Fargo Wells Fargo CD 0.05%
Chase Bank Chase CD 0.01%
*APY = Annual Percentage Yield. APYs are accurate as of the first day of the current month and are subject to change. Consult the financial institution directly for full product terms and current rates. Rates provided by MyBankTracker.com.
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Created 11-21-2017 at 12:05 PM by subcu
in Other (3)
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#2
So is the % paid out on a monthly basis? Or how would this work. Never dealt with CDs so not sure how it all works.

Say I put in $50K @ 1.5% that would be $750, question is though, is this $750 on a monthly basis, or yearly basis?

Sorry for the stupid questions, I'm not that vast on the whole banking scene lol
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#3
Quote from elite-fusion
:
So is the % paid out on a monthly basis? Or how would this work. Never dealt with CDs so not sure how it all works.

Say I put in $50K @ 1.5% that would be $750, question is though, is this $750 on a monthly basis, or yearly basis?

Sorry for the stupid questions, I'm not that vast on the whole banking scene lol
APY is for yearly
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#4
Quote from subcu
:
APY is for yearly
Thats what I figured. So putting in $50K to get a measly $750 doesnt seem very worth it. Granted, compared to all other banks, this is a pretty high percentage rate in comparison, but still doesnt seem high enough for the hassle lol
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#5
Dollar Savings a division of Emigrant Bank has 1.5% on their Money Market (highest in the US), no reason to have a CD with the same rate. BTW, I've had Dollar Savings MM for 10 years you can ACH money out in ONE day. Absolute the best run MM.
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#6
This is trash. You can EASILY get 3-5pct paid monthly! And returns closer to 7-15pct are super easy.
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#7
Quote from jfriend33
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This is trash. You can EASILY get 3-5pct paid monthly! And returns closer to 7-15pct are super easy.
Care to elaborate please?
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#8
Quote from bargain bug
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Care to elaborate please?
ok well there are lots of credit unions that offer it and all you have to do is have 12 debit card swipes.....can automate those easily with amex serve. as far as the higher returns you would do that on lendingrobot
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