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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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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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Joined Jun 2008
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Peakmaster
03-16-2023 at 07:53 AM.

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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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Joined Nov 2014
The Shwartz be with you!
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ValueRanger
03-16-2023 at 09:20 AM.
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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mcattack86
03-16-2023 at 10:01 AM.
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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Joined May 2013
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fw10001
03-16-2023 at 11:00 AM.
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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Joined Nov 2007
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Original Poster
Moooshe
03-16-2023 at 11:20 AM.
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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