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forum thread Posted by sh1tass • May 30, 2023
forum thread Posted by sh1tass • May 30, 2023

Bank OZK, 13 Month CD - 5.20% APY

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Bank OZK is offering a 13 month CD at a 5.20% APY! This seems to be one of the best rates available from a known, and fairly large, regional bank.

$1000 Minimum Deposit

https://www.ozk.com/personal/savings/cds/
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Bank OZK is offering a 13 month CD at a 5.20% APY! This seems to be one of the best rates available from a known, and fairly large, regional bank.

$1000 Minimum Deposit

https://www.ozk.com/personal/savings/cds/

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May 30, 2023
7 Posts
Joined Jan 2023
May 30, 2023
LivelyVest596
May 30, 2023
7 Posts
What is the penalty for early withdrawal? I can't find any info on their site
May 30, 2023
228 Posts
Joined Aug 2011
May 30, 2023
coccyxdynia
May 30, 2023
228 Posts
One year T-bills are 5.2% as well.. why not go with that? For most people, not paying state tax means you'll come ahead buying treasuries instead of CDs and they are easy to purchase through a broker like Fidelity.
May 30, 2023
3,530 Posts
Joined Dec 2007
May 30, 2023
iahawks550
May 30, 2023
3,530 Posts
Quote from coccyxdynia :
One year T-bills are 5.2% as well.. why not go with that? For most people, not paying state tax means you'll come ahead buying treasuries instead of CDs and they are easy to purchase through a broker like Fidelity.
Mainly because people are financially stupid. T-bills make more sense in almost every instance right now.
May 31, 2023
265 Posts
Joined Aug 2020
May 31, 2023
CrimsonShoe959
May 31, 2023
265 Posts
Quote from LivelyVest596 :
What is the penalty for early withdrawal? I can't find any info on their site
It's typically 3 months for 18 month CDs or shorter at the banks I hold CDs with. Not 100% sure for bank of the ozark though. An old news article from bank of the ozarks CD advertisement for a 13 month CD says this "According CSR, the Early Withdrawal Penalty is six months interest." Do not know if the penalty is still the same, but it probably is. It was from a DMN article from '16.
Last edited by CrimsonShoe959 May 31, 2023 at 12:36 AM.
May 31, 2023
265 Posts
Joined Aug 2020
May 31, 2023
CrimsonShoe959
May 31, 2023
265 Posts
Quote from coccyxdynia :
One year T-bills are 5.2% as well.. why not go with that? For most people, not paying state tax means you'll come ahead buying treasuries instead of CDs and they are easy to purchase through a broker like Fidelity.
About half of the population with access to a bank of the ozarks has no income tax. This regional bank is in Texas (31m people no income tax) and Florida (23m people no income tax) and the states between those 2.
May 31, 2023
3,530 Posts
Joined Dec 2007
May 31, 2023
iahawks550
May 31, 2023
3,530 Posts
Quote from CrimsonShoe959 :
About half of the population with access to a bank of the ozarks has no income tax. This regional bank is in Texas (31m people no income tax) and Florida (23m people no income tax) and the states between those 2.
Any person can buy these cds through brokerage firms also. Same as T-bills. That encompasses everyone else in the country that has access to a brokerage account.
Jun 9, 2023
1,378 Posts
Joined Jan 2008
Jun 9, 2023
Scrooge
Jun 9, 2023
1,378 Posts
do brokerage firms charge a fee?

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