Slickdeals is community-supported.  We may get paid by brands or deals, including promoted items.
Forum Thread

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

+3 Deal Score
7,350 Views
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/
  • Deal Image
Forbright Bank is offering 5.25% APY on a 12-month CD. 3-month penalty for early withdrawal.
Get Deal at Retailer
Add Comment
Reply
Created 03-16-2023 at 07:34 AM by Moooshe
in Financial Tools & Services (4)
If you purchase something through a post on our site, Slickdeals may get a small share of the sale.
Deal
Score +3
7,350 Views
Get Deal at Retailer

30 Comments

View Forum Thread
123

Your comment cannot be blank.

Sign up for a Slickdeals account to remove this ad.

Joined Jun 2008
L6: Expert
> bubble2 1,715 Posts
263 Reputation
Peakmaster
03-16-2023 at 07:53 AM.

Our community has rated this post as helpful. If you agree, why not thank Peakmaster

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
6
1
>
1
3
Like
Funny
>
Helpful
Not helpful
Reply
Joined Nov 2014
The Shwartz be with you!
> bubble2 2,705 Posts
440 Reputation
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.
2
Like
Funny
>
Helpful
Not helpful
Reply
Joined Jan 2007
L5: Journeyman
> bubble2 614 Posts
157 Reputation
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
5
2
Like
Funny
>
Helpful
Not helpful
Reply
Joined May 2013
L3: Novice
> bubble2 235 Posts
50 Reputation
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.
Like
Funny
>
Helpful
Not helpful
Reply
Joined Nov 2007
L9000+
> bubble2 2,524 Posts
1,582 Reputation
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.
>
1
2
Like
Funny
>
Helpful
Not helpful
Reply
Joined Sep 2014
DealSlicker
> bubble2 583 Posts
84 Reputation
mohicans
03-16-2023 at 05:32 PM.
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
1
1
5