Corus Bank CD update

[MJ]

It seems easier if I just start a thread on their progress.

They jumped again. Wow!

with a $10k minimum
6 months 3.37% APY
12 months 3.80% APY

http://www.corusbank.com/

The rest of their short term CDs suck
5 year is the same as 1 year.
Is there something wrong? Bankrates.com gives them a high rating.

MJ

 

[cute fuzzy bunny]

You know, I went and looked at their web site. Is there something wrong with my browser or is their site a little disorganized, columns of stuff dont quite line up, etc?

I get a little leery of putting my money anywhere near someone with slipshod web sites.

It might in fact be me though, I dont use internet exploder, I use firefox.

The numbers seem too good to be true...

Update: oddly, I looked at the same page twice "more rate tiers" under CD's...and sometimes the columns line up, sometimes they dont. Very weird.

I see they say the rates quoted are for <100k cd's and to contact a 'retail banker' for rates over 100k...anyone find out what their short term cd rates are for over 100k amounts? I'm about to have ~quarter mil in my hands...

 

[KB]

Their rates are nice and lined up using IE.
I'm thinking about it. Do they do an EFT transaction to take the money from a checking acct??

 

[Spanky]

Their rates are nice and lined up using IE.

I use Firefox and some sites are not compatible with this browser. Therefore, I have to switch to IE once in awhile.
Bummer.

 

[brewer12345]

I took a look at Corus' financials and they look pretty strong. Loads of capital and lots of earnings. The big risk to them is the fact that most of their assets are commercial mortgages, so if they had a lot of bad loans it could be painful. But they have so much capital, it is hard to believe depositors would ever be in significant danger.

 

[MJ]

Re: Corus Bank CD update 03/22/05

They jumped again. Wow!

with a $10k minimum
6 months 3.47% APY
12 months 3.90% APY

http://www.corusbank.com/

MJ

 

[KB]

Do you think they will they go up again when the Fed raises the interest rates? Or is this in anticipation of the Fed raising the rates.

 

[Spanky]

CD investments sound better and better in light all other investment s(other than energy and international) are down.

 

[MJ]

Re: Corus Bank CD update 03/29/05

They jumped again.

with a $10k minimum
6 months 3.53% APY
12 months 4.00% APY

http://www.corusbank.com/

MJ

 

[cute fuzzy bunny]

I'm awfully leery of this. The old 'if it sounds too good to be true, it is' bell is dingling.

A 1 year rate 1% higher than most other 1 year cd's, and close to a lot of other banks 4 year cd's.

I can see a steep rate on a 5 or 7 year cd where the bank might figure rates are going through the roof and decide they'll get customers now and make money on the arb in the last 2-3 years, but this really DOES sound too good to be true.

 

[MJ]

Here are the top 1 year CDs from Bankrate,com

It looks like their competition isn't far behind.

I have also mentioned in an earlier post that their long term CD's are the pits. Corus' current 4 year is 3.75%.

I am not smart enough to figure out why they want our short term dollars but I am willing to bite.

Institution..........Rate APY* Min
Corus Bank.............3.95 4.00 10000
Nexity Bank............3.87 3.95 1000
Bank of Internet......3.80 3.87 1000
Countrywide Bank....3.79 3.86 10000
Capital One.............3.78 3.85 5000

MJ

 

[retire@40]

...but this really DOES sound too good to be true.

If this is a real FDIC insured bank, then it has to be true. It's not a website belonging to some Nigerian, is it?

 

[Mr._johngalt]

Not
"too good to be true". The bank has an plan. They may be wrong. You don't care. That's what the FDIC is for.
Besides, some bank always has to lead in each dept.
They take turns. I see nothing funky here.

JG