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Marcus Bank (Goldman Sachs): 12-Month Fixed Rate CD Expired
5.15% APY
($500 minimum to open)
Marcus Bank (Goldman Sachs) is offering a 12-Month Fixed Rate Certificate of Deposit at 5.15% APY with $500 minimum deposit.
Thanks to community member SUCHaDEAL for finding this deal.
Thanks to community member SUCHaDEAL for finding this deal.
Original Post
Written by
Edited August 6, 2024
at 08:06 AM
in
Finance
Marcus - Bank Advertiser
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- Let the interest collect/reinvest in the CD and take all the money at the end of the term. (Note: Brokered CDs don't do this).
- Collect the interest as-you-go, usually monthly or quarterly.
Then, at the end of the term the bank CD has the big *gotcha*.
You have x number of days after the CD matures to take your money out. You have to do in that timeframe. If you do not, it rolls over into another CD of the same term (I.E. 1 year CD makes a new 1 year CD). That new CD probably won't have your awesome promotional rate, and you get *R$#(ed if you let them do that.
So, if you buy a bank CD, have a calendar reminder to take the money out at the right time!
Sure the funds are locked in with a CD, but so is the rate.
Obviously you're not supposed to put emergency funds in a CD. Just funds you're sure you don't need for a while.
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If for some reason I need some extra cash on hand, instead of cancelling a single CD and lose tons of interest. I just cancel 1 of them. Haven't needed to use them before but its free insurance basically.
Makes sense, but that's not really a ladder.
A ladder would be a bunch of CDs that mature at different times, not 9 that mature simultaneously.
By spreading out maturity dates, you can average out interest rate changes. If interest rates are 2% next year, you'll be wondering where to put all your CD money.
But, if you also have 2 year, 3 year, and 4 year CDs, you spread out the risk of interest rates sucking when your CD matures.
CDs are currently paying better than tbills. There is the state tax advantage, but that's pretty small where I live. State tax is about 4%.
Some bonds pay better, but higher risks.
It's best to look at your options at the time. Sometimes I buy a CD, sometimes a bond if the premium is enough for the risk. I've never had a tbill win out when I'm shopping for a fixed income investment, but that certainly can happen.
Some bonds pay better, but higher risks.
It's best to look at your options at the time. Sometimes I buy a CD, sometimes a bond if the premium is enough for the risk. I've never had a tbill win out when I'm shopping for a fixed income investment, but that certainly can happen.
Also have some money to take a bit risk , get below for dividend
TSLY - gives 76% ( almost 5.5% a month)
NVDY -gives 64%
What happens to $USFRs rate when the fed cuts the rate? Would it not go down as well or is it tied to something else? What is its rate based on?
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Yes but that includes the cds. I've never heard of BETTERMENT have u?
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Also have some money to take a bit risk , get below for dividend
TSLY - gives 76% ( almost 5.5% a month)
NVDY -gives 64%