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Slickdeals Forums Hot Deals Bank OZK, 13 Month CD - 5.20% APY

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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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Created 05-29-2023 at 09:41 PM by sh1tass

in Financial Tools & Services (4)

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LivelyVest596

Joined Jan 2023

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LivelyVest596

05-30-2023 at 07:30 AM.

What is the penalty for early withdrawal? I can't find any info on their site

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coccyxdynia

Joined Aug 2011

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coccyxdynia

05-30-2023 at 02:37 PM.

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.

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iahawks550

Joined Dec 2007

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iahawks550

05-30-2023 at 02:44 PM.

Quote from coccyxdynia

Mainly because people are financially stupid. T-bills make more sense in almost every instance right now.

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CrimsonShoe959

Joined Aug 2020

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CrimsonShoe959

05-31-2023 at 12:32 AM.

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.

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Last edited by CrimsonShoe959 May 31, 2023 at 12:36 AM.

CrimsonShoe959

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CrimsonShoe959

05-31-2023 at 12:39 AM.

Quote from coccyxdynia

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.

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iahawks550

Joined Dec 2007

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iahawks550

05-31-2023 at 03:41 AM.

Quote from CrimsonShoe959

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.