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Quontic Bank: Certificate of Deposit - Earn up to 5.05% APY

-4 Deal Score
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Quontic Bank, our partner, is offering the following benefits with their Certificate of Deposit.
  • Open an account online in just 3 minutes
  • Minimum of $500 required to open.
  • Withdrawals before the maturity date are subject to penalties
  • Additional terms, conditions, fees & exclusions may apply
  • No monthly maintenance fee
Certificates of Deposit Terms:
  • 6 Months: 5.05%
  • 1 Year: 4.50%
  • 2 Years: 4.50%
  • 3 Years: 4.40%
  • 5 Years: 4.30%
Slickdeals may be compensated by Quontic
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Quontic Bank: Certificate of Deposit - Earn up to 5.05% APY
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Created 03-27-2024 at 05:35 PM by EfficientGame645 | Staff
in Finance
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Redmont
03-28-2024 at 04:08 AM.
03-28-2024 at 04:08 AM.
Why lock up your funds for 6 months or a year for this paltry rate? Just open up a Fidelity or Etrade account and buy as much or little of FTYXX or PRTXX as you want for $1 per share. Both of these funds (and many similar funds) invest mostly in US treasuries and pay about 5% interest (currently 5.1%but sometimes 4.96%) . Yes that rate is not guaranteed but it has been consistently about 5% for a long time and there is no sign of interest rates on US treasuries are going down as Congress keeps borrowing more and more each week and needs to issue more and more bonds to borrow. Funds like these rarely if ever "break the Buck" so your shares will always be worth $1 (unless the economy collapses) and you can sell and get your money out at any time. I don't know of any online broker that is charging commissions on regular stock sales. Yes brokerage accounts are not FDIC insured but the odds of JP Morgan or Fidelity going bankrupt are far lower than a no name online bank and even if they did —your assets are not considered their assets — so a receiver would be appointed to manage the brokerage accounts.
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Last edited by Redmont March 28, 2024 at 04:17 AM.
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