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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
05-30-2023 at 07:30 AM.
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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Joined Aug 2011
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coccyxdynia
05-30-2023 at 02:37 PM.
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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Joined Dec 2007
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iahawks550
05-30-2023 at 02:44 PM.
05-30-2023 at 02:44 PM.
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.
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CrimsonShoe959
05-31-2023 at 12:32 AM.
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.
Joined Aug 2020
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CrimsonShoe959
05-31-2023 at 12:39 AM.
05-31-2023 at 12:39 AM.
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.
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iahawks550
05-31-2023 at 03:41 AM.
05-31-2023 at 03:41 AM.
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.
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Scrooge
06-09-2023 at 07:01 AM.
06-09-2023 at 07:01 AM.