Slickdeals is community-supported.Ā  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
7,353 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
7,353 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
Like
Funny
>
Helpful
Not helpful
Reply
Last edited by mohicans March 16, 2023 at 05:35 PM.
Joined Sep 2017
L3: Novice
> bubble2 169 Posts
14 Reputation
pranrasvij
03-16-2023 at 08:27 PM.

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

03-16-2023 at 08:27 PM.
check out fidelity brokered CDs. I got 5.45 for 6 mnths at schwab.....
3
>
1
Like
Funny
>
Helpful
Not helpful
Reply

Sign up for a Slickdeals account to remove this ad.

Joined Dec 2004
L2: Beginner
> bubble2 66 Posts
17 Reputation
loki_l77
03-17-2023 at 09:23 AM.
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.
1
Like
Funny
>
Helpful
Not helpful
Reply
Joined Jul 2007
L8: Grand Teacher
> bubble2 3,732 Posts
801 Reputation
qwertyaas
03-17-2023 at 12:50 PM.
03-17-2023 at 12:50 PM.
Quote from loki_l77 :
Can u pls share link. I couldn't find similar rate.
You have to search through your brokerage for Brokered CDs, You're buying other bank CDs through your brokerage.

Be sure it's non-callable.
2
Like
Funny
>
Helpful
Not helpful
Reply
Joined Apr 2010
L5: Journeyman
> bubble2 608 Posts
101 Reputation
tialfred1
03-17-2023 at 12:53 PM.
03-17-2023 at 12:53 PM.
not sure what all banks do HP. Not worth it if HP is done.
Like
Funny
>
Helpful
Not helpful
Reply
Joined Aug 2011
L5: Journeyman
> bubble2 589 Posts
68 Reputation
dj12gauge
03-17-2023 at 05:22 PM.
03-17-2023 at 05:22 PM.
5% is less than inflation
2
1
Like
Funny
>
Helpful
Not helpful
Reply
Joined Aug 2009
L2: Beginner
> bubble2 53 Posts
29 Reputation
hhh_1234
03-17-2023 at 05:47 PM.
03-17-2023 at 05:47 PM.
Quote from pranrasvij :
check out fidelity brokered CDs. I got 5.45 for 6 mnths at schwab.....
Isn't the 5.45 for 6 months at schwab marked as Primary CD?

I read the investor doesn't get the interest for primary CDs, instead it goes to the bank/brokerage.
Like
Funny
>
Helpful
Not helpful
Reply
Joined Nov 2011
L2: Beginner
> bubble2 71 Posts
30 Reputation
barrelroller
03-17-2023 at 06:52 PM.
03-17-2023 at 06:52 PM.
Quote from MaroonManatee4823 :
PASS!! I want my bank to BANK, not virtue signal about fossil fuels...thats whats killing banks right now. Go woke, go broke.
Exactly! That's why I only invest in the mafia. I know i'll get a return and they'll break knees to do it.
3
4
1
Like
Funny
>
Helpful
Not helpful
Reply
Joined Feb 2017
L7: Teacher
> bubble2 2,434 Posts
826 Reputation
Redmont
03-18-2023 at 06:15 AM.
03-18-2023 at 06:15 AM.
Quote from Peakmaster :
Great timing...because banks touting their focus on things other than banking are doing so well right now
Exactly what I was goi g to say. Steer clear of any bank or investment fund with a political agendaā€” especially any bank or investment company that uses ā€”or even mentions ā€”ESG or ESG ratings.
3
3
Like
Funny
>
Helpful
Not helpful
Reply
Page 1 of 3
123
Start the Conversation
 

More Finance Deals & Discounts

View All
Frontpage
T-Mobile Tuesdays
T-Mobile Tuesdays app users 9/19/23: Free Tropical Smoothie Cafe flatbread, $5 Blaze Pizza credit, $19.99 Sam's Club membership, 40% off Forever 21, 15 cent Shell gas discount*
Free
& More via T-Mobile Tuesday App
40 359
5.25% High Yield Savings Accounts - No Minimums or Fees
$0.00
10 54
Frontpage
Amex - Bank Advertiser
Earn $250 for opening a Checking Account | Amex US
$250 Bonus
77 107
Frontpage
Chase - Bank Advertiser
Select Chase Freedom/Flex Cardholders: Paypal, Wholesale Clubs, Select Charities 5% Back (Valid October 1 - December 30, 2023)
5% Back
(Valid October 1 - December 30, 2023)
121 88
Popular
YMMV Amex BJ's single purchase of $55 or more and get $30 back
$25.00
11 21
Popular
Capital One Venture X: 90,000 Point Bonus
$0.00
38 194
Link Copied

The link has been copied to the clipboard.