Joined Jul 2019
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Sallie Mae 27 month CD 5% through Savebetter
January 18, 2023 at
04:48 PM
in
Finance
(4)
Deal Details
Last Edited by dimjim | Staff January 18, 2023 at 08:01 PM
First time using Savebetter, they are essentially a broker that works with various banks. Application and funding of this CD was amazingly simple, took less than 5 minutes.
https://www.savebetter.
https://www.savebetter.
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Yes but please note this isn't a no penalty CD. However they also have a great 4.4% no penalty available.
Does anyone know how different is it versus opening a CD account directly with Sallie Mae. i understand rates are lower, other than that ? TIA
Think about it. If Sally Mae was unable to sell their products to all Americans on their own website, then I might understand. Yes this German FINTech company expanding the reach for small institutions sounds great. But Sallie Mae, really??
https://www.trustpilot.
It seems like one Chinese or Russian hacker comes along and hacks into their system, poof all your money is gone!
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It seems like one Chinese or Russian hacker comes along and hacks into their system, poof all your money is gone!
Think about it. If Sally Mae was unable to sell their products to all Americans on their own website, then I might understand. Yes this German FINTech company expanding the reach for small institutions sounds great. But Sallie Mae, really??
https://www.trustpilot.
If the issuing bank is member FDIC, then that still applies if the bank fails.
I'm not sure whether the cyber risk is any higher for any one place than another. I can imagine tons of (particularly smaller) banks and credit unions that probably don't have the level of cybersecurity than a newer fintech might. And those institutions issue CDs and hold tons of money for people.
This is a good rate, particularly if you think like I do that rates will probably fall within that 27 month holding period.
If the issuing bank is member FDIC, then that still applies if the bank fails.
I'm not sure whether the cyber risk is any higher for any one place than another. I can imagine tons of (particularly smaller) banks and credit unions that probably don't have the level of cybersecurity than a newer fintech might. And those institutions issue CDs and hold tons of money for people.
This is a good rate, particularly if you think like I do that rates will probably fall within that 27 month holding period.
With the non-penalty, I'm honestly not seeing any downside unless I am missing something...
https://dsusprd01pubass
What is the incentive here? A slower loss of money?