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expired Posted by punjabisoldier • Jun 22, 2023
expired Posted by punjabisoldier • Jun 22, 2023

5.50% on 1 year Certificates of Deposit | Santander Bank

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5.50% rate on 1 year CD

https://www.santanderbank.com/per...of-deposit
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5.50% rate on 1 year CD

https://www.santanderbank.com/per...of-deposit

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79 Comments

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Jun 23, 2023
22 Posts
Joined Dec 2018
Jun 23, 2023
Homiebro
Jun 23, 2023
22 Posts
Quote from trza :
They're going to take your money and lend it out on 24% car notes.
And how is that info helpful here? As long as our money is FDIC insured, we good to be good right?
Jun 23, 2023
1,073 Posts
Joined Dec 2007
Jun 23, 2023
malibuxboy
Jun 23, 2023
1,073 Posts
Quote from johnny88 :
T Bills are still more attractive then CDs unless the CD have a substational higher rate. CDs are callable, that means the bank can decide at any point to just return your money and not pay you the full amount. In addition there's the state taxes on CDs.

T Bills aren't callable and they're not taxable via state income taxes.
not all CDs are callable. yes to state taxes point but that really only eats up .25-.40 points (for the size I'm purchasing, which is significant) so if a 3-year cd is paying me 5.40 (non callable of course) and a treasury is paying 4.xx its a no brainer in that regard.

but I do agree that normally treasuries are the better buy. its why I hope they rise a bit more so I can grab the term and % I'm looking for.
Jun 23, 2023
189 Posts
Joined Mar 2019
Jun 23, 2023
Pragmatism
Jun 23, 2023
189 Posts
Quote from thegman230 :
Santander is an absolute garbage bank, borderline fraudsters with your money. Personal experience
Name one bank that isn't parasitic.
Jun 23, 2023
4,829 Posts
Joined Feb 2006
Jun 23, 2023
Azrael_the_Cat
Jun 23, 2023
4,829 Posts
Quote from koge811 :
except when job doesn't even pay to owning a car or rent for that matter.
the jobs are pointless then like in CA bay area right now or NYC or LA lots of useless jobs that should be removed just because they cannot pay shit.

rather the business owner offer shelter and transportation at least as a bare min to work its basic slavery model
yeah... it doesn't seem like you know what slavery means.

It's unfortunate that so many people can't delivery more value to society so that they are worth getting paid more. We need to do a better job teaching people to deliver value (upskilling) so that they can live comfortable lives.
1
Jun 23, 2023
30 Posts
Joined Nov 2018
Jun 23, 2023
MickeyN5772
Jun 23, 2023
30 Posts
Mountain America which is a brick and motar bank is already at 5.50% BUT on a "6mth cd" ...rates aredy pushing 6%+apy why get locked into 12 mth ? id do it at 6mos the most while shopping for better rates by DEC
Jun 23, 2023
390 Posts
Joined Apr 2023
Jun 23, 2023
DaMexica
Jun 23, 2023
390 Posts
Quote from trza :
They're going to take your money and lend it out on 24% car notes.
Can confirm and santander track record in their stock sucks which leads. To believe the money will not be returned lol
Jun 23, 2023
390 Posts
Joined Apr 2023
Jun 23, 2023
DaMexica
Jun 23, 2023
390 Posts
Quote from huy215 :
Tell me you have bad credit without telling me you have bad credit.
Lol yes but not always the case dealerships are the ones that make the deals not the banks

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Jun 23, 2023
390 Posts
Joined Apr 2023
Jun 23, 2023
DaMexica
Jun 23, 2023
390 Posts
Quote from gallymimus :
You should be empathetic to how often people are taken in by this. Imagine a single mother, broken car, has a job, it isn't walkable, it isn't bussable. She needs a car to work, shop, take her kid to school. Many cities are structured like this.

A car dealer tells you the payments are $350mo. It's 10% of your take home but 80% of your pay in your pocket is better than losing your job. Interest rate never even comes into consideration in many of these situations. Getting to your job, feeding your kid and surviving another 6mo is all that matters.

Not everyone has the luxury of saying "24%? that's for idiots."

the bank doesn't even make a killing because the risk adjusted real return is probably 7% due to how many people default on the 24% loans.
Or you have good credit but dont know how to buy a car and the dealership sells you or lies to you into a 24% or more rate which happens AAALOT
Jun 23, 2023
390 Posts
Joined Apr 2023
Jun 23, 2023
DaMexica
Jun 23, 2023
390 Posts
Quote from Homiebro :
And how is that info helpful here? As long as our money is FDIC insured, we good to be good right?
Rofl 🤣
Jun 23, 2023
390 Posts
Joined Apr 2023
Jun 23, 2023
DaMexica
Jun 23, 2023
390 Posts
Quote from Pragmatism :
Name one bank that isn't parasitic.
Not banks but credit unions are pretty good
Jun 23, 2023
4,829 Posts
Joined Feb 2006
Jun 23, 2023
Azrael_the_Cat
Jun 23, 2023
4,829 Posts
Quote from Pragmatism :
Name one bank that isn't parasitic.
Well, if by parasitic you mean trying to make money then all banks, businesses and people are parasitic.

Such is the nature of being a living creature fighting entropy LOL
Jun 23, 2023
8,769 Posts
Joined Feb 2007
Jun 23, 2023
trza
Jun 23, 2023
8,769 Posts
Quote from huy215 :
Tell me you have bad credit without telling me you have bad credit.
Just because you know have enough awareness of the market to recognize shady businesses doesn't mean you have bad credit.
Jun 23, 2023
770 Posts
Joined Dec 2019
Jun 23, 2023
OG-Bluntman
Jun 23, 2023
770 Posts
Pro tip: open a high yield money market account, not a CD, rates are comporable, and your funds are fluid, and, rates will continue to rise more as the inflation damage control marches on.
Jun 23, 2023
1 Posts
Joined Feb 2023
Jun 23, 2023
alvrat79
Jun 23, 2023
1 Posts
fark you santander! worst customer service half cant speak english, and loans are awful

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Jun 24, 2023
73 Posts
Joined Jan 2014
Jun 24, 2023
petersuh0905
Jun 24, 2023
73 Posts
Brokerages are offering 3 month CD's that are FDIC backed at 5.3%.

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