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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 10:41 PM by sh1tass
in Financial Tools & Services (4)
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LivelyVest596
05-30-2023 at 08:30 AM.
05-30-2023 at 08:30 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 03:37 PM.
05-30-2023 at 03:37 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 03:44 PM.
05-30-2023 at 03:44 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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Joined Aug 2020
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CrimsonShoe959
05-31-2023 at 01:32 AM.
05-31-2023 at 01:32 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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