BB and T bank has 8-month CD at 5.15% APR

Discussion in 'Business Operations' started by topsites, May 30, 2006.

  1. topsites

    topsites LawnSite Fanatic
    Messages: 21,653

    Just thought I'd post this, that is a fair rate, thousand dollar minimum is not bad either (some are 10k lol).

    A little over 5 percent apr, for 8 months, in a locked CD.

    Be aware that when it matures, you have 10 days in which you likely need to do something with it or it will 'roll' over and this being an introductory rate, you're likely to get a much lower rate if you don't pull it out.
  2. BSDeality

    BSDeality LawnSite Silver Member
    Messages: 2,849

    I prefer ING Direct, you have near instant access to your money if you need it in an emergency without any penalty fee's. Currently its @ 4.15% with no lock-in. they offer 5.25% for 12 mo's if too.
  3. MMLawn

    MMLawn LawnSite Gold Member
    Messages: 3,569

    CD's are for young kids and old folks.....they are not a wise "investment" option for "real" people wanting to make "real" investments. MUTUAL FUNDS is where you want to be. But even on a CD, Interest rates will continue to rise, no way I'd tie up any amount of cash one for more than 3 months right now.....if you do, esp for 8-12 months you'll regret it in 6 when rates are even higher.......don't believe me, then come back in 8-12 months and call me on it f I'm wrong :laugh:
  4. olderthandirt

    olderthandirt LawnSite Platinum Member
    from here
    Messages: 4,899

    Mike, remember those mortgage rates at 15%-18% :confused: I believe we heading in that direction again, faster than most realize
    There's some real good small and mid cap emerging market funds right now.
  5. cwlawley

    cwlawley LawnSite Senior Member
    Messages: 470

    You've built too good a reputation on this site to say something like this. Take it back or I won't read you're post anymore...hahaha.
  6. topsites

    topsites LawnSite Fanatic
    Messages: 21,653

    I agree, CD's are a pita for more than one reason, you want to invest only small amounts and for short time frames. Then you have to watch the maturity date, you need to get it out of there or it will turn over at some bs rate.

    I dropped 2 grand and will be watching other venues as I have several more thousand needing an interest-bearing home, the reason for these minor investments is to give my business account holdings something to do before winter, I hate to have a lot of money sitting in an account doing nothing.

    So, I get a few dollars out of it, probably 75 bucks or so in 8 months, compared to zip if it sits in the business account, I'm also looking into Money Market accounts.

    As for much higher rates, I'm leery of gambling with stocks, the higher the rate, the higher the risk, me no like risk.
  7. TLS

    TLS LawnSite Fanatic
    Messages: 7,943

    Wife and I just got in on a 8% CD rate at a new local bank!

    Problem was it was limited to $1000 each.
  8. Tim Wright

    Tim Wright LawnSite Bronze Member
    Messages: 1,034

    Mike is right. Banks won't loan you money to do any kind of investing like that, and the rich do not use them at all. They invest else where.


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