certificate of deposit question

Bucky Badger

Bucky Badger

Go Kyle Go
Joined
May 11, 2003
Messages
14,461
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Location
Madison WI
Do any of you guys have them? My bank rate is in the toilet.....2.45% for lets say a 12 month Min $5000.00

Any one use GMAC? The rates seem too good to pass up. My banker told me they can do it because of the overhead. The only thing that scare me is it's all done on line and electronic funds transfers (EFT)

500.00 min
3 months 3.44% 3.50%
6 months 3.54% 3.60%
9 months 3.54% 3.60%
12 months 4.02% 4.10%
18 months 3.68% 3.75%
2 years 3.78% 3.85%
3 years 4.02% 4.10%
4 years 4.26% 4.35%
5 years 4.26% 4.35%

http://www.gmacbank.com/todays-rates/cd-rates.html
 
I have one at my bank at 3.5% interest at the base 1K dollars for 6 months. Anything longer than that all had the same interest.
 
Trust me I Don't

know anything about cd's or money earning interest... That said, a good friend of mine recently had her house to burn down. She got the money from the insurence. And while getting her new house built, has a large amount on deposit.
While shopping I noticed she purchased 20 packages of the same cookies. Which at checkout she paid for ONE ITEM AT A TIME! Thinking she had lost it I asked what the deal was.. She replied she was getting 6% interest on her money..and ONLY if she had a certain NUMBER of withdrawls every month..
The size of the withdrawls didn't matter.. She did say she could only have $2500 in each account and that was why she had to make so many purchases. So I am repeating here all I know about the cd or whatever she is doing.
Betsy:confused:
 
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