Original Post
Written by
Edited November 14, 2022
at 12:37 PM
by
CIT Bank, our partner, offers the following benefits with their
13-Month Term CD.- No account opening or maintenance fees
- Daily compounding interest to maximize your earning potential
- FDIC insured
- See site for details
Slickdeals may be compensated by CIT Bank
533 Comments
Your comment cannot be blank.
Featured Comments
$920 - ($920 x (25% + 9%)) = $607.2
You can use above example to plug in your real tax bracket percentages to get your own number. It's a bit difficult to show the calculation of interest on here but you can find interest calculator on web.
Sign up for a Slickdeals account to remove this ad.
So your bank's saving account is giving you 4%? I need to lock my money in to get a high interest... I can lock it in for as little as 30 days but I still need to lock it in.
NON CALLABLE CDs: TODAY'S RATES
5.30% 3 months Non-callable CDs
5.30% 6 months Non-callable CDs
5.25% 9 months Non-callable CDs
5.25% 1 year Non-callable CDs
5.25% 3 years Non-callable CDs
4.60% 5 years Non-callable CDs
4.45% 5plus years Non-callable CDs
These rates were copied and pasted from Merrill Edge Website. And all agency bonds are FDIC insured.
What I like about Agency bonds is that you buy them from inception and you can always sell them when you want based on the market price and if you keep it to term you get what you signed up for. In addition, there is nothing to sign up for. It is the same way I buy stocks... I just got to my brooker account (Merrill Edge) and transfer money from my bank account... INSTANT and then buy the agency bond... INSTANT. No waiting, no credit check, no hit on your social and no opening another bank account. Everything is in one place.
Ex. 100 dollars going into a 4% APY 4 week bill would not yield you $~4.00, but closer to ~35cents at maturity.
What?
Sign up for a Slickdeals account to remove this ad.
It took like 7 days. It was terrible.
They also have corporate bonds.... not fdic insured and many other types of fixed investments.
Sign up for a Slickdeals account to remove this ad.
That's kind of how it works. You get a no-risk return on your money while someone else takes the risk.