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Forbright Bank is offering 5.25% APY on a 12-month CD. 3-month penalty for early withdrawal.

Moooshe
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FDIC insured up to 250k. 3 months penalty for early withdrawal. This is the highest offer I could find.

https://www.forbrightbank.com/con...nline-cds/
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Forbright Bank is offering 5.25% APY on a 12-month CD. 3-month penalty for early withdrawal.
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Created 03-16-2023 at 07:34 AM by Moooshe
in Financial Tools & Services (4)
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03-16-2023 at 07:53 AM.
Great timing...because banks touting their focus on things other than banking are doing so well right now
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03-16-2023 at 09:20 AM.
With 'softer' assets like pure financing, coming into more destabilized conditions; harder assets are more preferable in investments. One of the mainstays in hard assets is real estate; and this institution is far more vested in real estate financing, as opposed to outright ownership in ratio to financing. If they had a solid commitment to baseload energy competition to fossil fuels; they'd get more of my attention.
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03-16-2023 at 10:01 AM.
I'd have to agree with other comments. You can get 5% from more reputable banks - don't think the extra quarter percent is worth the risk
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03-16-2023 at 11:00 AM.
Quote from ValueRanger :
With 'softer' assets like pure financing, coming into more destabilized conditions; harder assets are more preferable in investments. One of the mainstays in hard assets is real estate; and this institution is far more vested in real estate financing, as opposed to outright ownership in ratio to financing. If they had a solid commitment to baseload energy competition to fossil fuels; they'd get more of my attention.
Can you please rephrase/explain that in a way that a dummy unfamiliar with the finance world (me) would understand. Thanks.
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03-16-2023 at 11:20 AM.
Quote from mcattack86 :
I'd have to agree with other comments. You can get 5% from more reputable banks - don't think the extra quarter percent is worth the risk
Fair enough, but with FDIC insurance, does it really matter which financial institution your money is with?
Checking out the banks that provide a 5% return, the only one that stands out as more reputable is Barclays. They have a similar penalty of 3 months' interest for early withdrawal.
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03-16-2023 at 05:32 PM.
I'd rather get a 3 year multi year guaranteed annuity from athene or Lincoln Financial or some insurer that's backed by a massive financial institution which won't collapse and collect 5.5% principal protected coupon which is basically a certificate of deposit from an insurer versus a CD from one of these fly by day no name banks after what's happened during the past week
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Last edited by mohicans March 16, 2023 at 05:35 PM.
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03-16-2023 at 08:27 PM.
check out fidelity brokered CDs. I got 5.45 for 6 mnths at schwab.....
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Joined Dec 2004
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03-17-2023 at 09:23 AM.
Quote from pranrasvij :
check out fidelity brokered CDs. I got 5.45 for 6 mnths at schwab.....
Can u pls share link. I couldn't find similar rate.
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