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expired Posted by hii.appa • May 6, 2023
expired Posted by hii.appa • May 6, 2023

9month CD @ 5.5% APY w/ $500 min deposit at Northern Bank Direct

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I know there NASA credit union is offering the same thing but difference is that this needs $500 min deposit vs $10k for NASA.

https://northernbankdirect.com/cds
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I know there NASA credit union is offering the same thing but difference is that this needs $500 min deposit vs $10k for NASA.

https://northernbankdirect.com/cds

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May 10, 2023
1,401 Posts
Joined Jan 2014
May 10, 2023
redblues423
May 10, 2023
1,401 Posts
Quote from wntrsnowg :
Thanks for posting. I prefer this option compared to nasa; easier to sign up
T bills are better, what if the bank goes belly up as banks seem to be doing in this climate
May 11, 2023
2,161 Posts
Joined Dec 2018
May 11, 2023
HonestMammoth473
May 11, 2023
2,161 Posts
Quote from redblues423 :
T bills are better, what if the bank goes belly up as banks seem to be doing in this climate
The easy solution there is to limit oneself to a total deposit of $250k or less. I'm betting most on SD aren't scrambling for places to put their millions.
May 11, 2023
804 Posts
Joined Jun 2019
May 11, 2023
BillG7
May 11, 2023
804 Posts
How much would you get from $500? Like 10 bucks?
May 11, 2023
1,727 Posts
Joined Oct 2004
May 11, 2023
Passions
May 11, 2023
1,727 Posts
Quote from thelegaldreamteam :
Everything is going to crash. Like 2008 style. Banks will gladly pay you 5.5% when they'll 100% roi it both short and long. Now is the time to buy 6 month puts. Literally in anything that moves in the equities market. By August nobody on earth will be doubting we are in a full blown global recession. It's actually the only way the fed will ever cut rates. Unemployment way up. Prepare. It's coming.

Mr Burry, it's time for bed.
May 11, 2023
1,727 Posts
Joined Oct 2004
May 11, 2023
Passions
May 11, 2023
1,727 Posts
Way too early to lock up your money for 9 months right now.
Expect more rate hikes by our savior JPow.
Inflation isn't coming down, he can't pause right now.
I'm calling it now, another 25 bps hike coming soon.
1
May 12, 2023
432 Posts
Joined Dec 2016
May 12, 2023
couchy
May 12, 2023
432 Posts
They removed the 9 month option, now there's 15 months at 5.5%
May 12, 2023
1,782 Posts
Joined Sep 2009
May 12, 2023
inm8num2
May 12, 2023
1,782 Posts
5.5% for 15-mo is a no-brainer. Almost pulled the trigger, then saw this in the FAQ:

https://northernbankdirect.com/faqs

Quote :
Can I designate a beneficiary?

Beneficiaries may not be added to a Northern Bank Direct account.

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May 13, 2023
763 Posts
Joined Nov 2017
May 13, 2023
djangi
May 13, 2023
763 Posts
Quote from inm8num2 :
5.5% for 15-mo is a no-brainer. Almost pulled the trigger, then saw this in the FAQ:

https://northernbankdirect.com/faqs
Also look at their early withdrawal penalty. Insane!
May 23, 2023
838 Posts
Joined Mar 2005
May 23, 2023
digital330
May 23, 2023
838 Posts
Does anyone know the steps to add Maturity instructions for the CD? Unlike the Capital One CD there are no options online on their website!

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