Badger
Thinks s/he gets paid by the post
- Joined
- Nov 2, 2008
- Messages
- 3,411
I was told about these at a bank the other day and it sounds too good to be true. So I thought the best thing is to ask here.
The Market-linked CD is FDIC insured up to $250k, performance is tied to an index like S&P 500, and the interest I was quoted was they would earn 5% the first year 10% the second year 15% the third etc. (I'm sure those are cumulative numbers and it really amounts to 5% each year). It cannot be less than 5% but the CD can be called at any time. I don't know if there is a time requirement or if you can withdraw at any time without penalty.
That is really all I know about them. Does anyone have experience or knowledge of these? Right now 5% is pretty good sounding especially when I am at the "holding on to what I have" stage and not trying to beat the market.
Cheers!
The Market-linked CD is FDIC insured up to $250k, performance is tied to an index like S&P 500, and the interest I was quoted was they would earn 5% the first year 10% the second year 15% the third etc. (I'm sure those are cumulative numbers and it really amounts to 5% each year). It cannot be less than 5% but the CD can be called at any time. I don't know if there is a time requirement or if you can withdraw at any time without penalty.
That is really all I know about them. Does anyone have experience or knowledge of these? Right now 5% is pretty good sounding especially when I am at the "holding on to what I have" stage and not trying to beat the market.
Cheers!