Bill E. 666 Posted August 9, 2008 I got a cold call from Wachovia today. No acct there so I do not know how they got my cell #. They said they have a 4.5% guaranteed 18 month CD $5K min. I made an appt to go in Monday. I already maxed out my roth and max my 401k. I have money in a couple of savings acct making like 2% . I do not want to do much with it since it is kind of an emergency fund. This CD would be FDIC insurred right? I would not be buying Wachovia stocks or anything like that right? I just have not heard of anyone paying that much on a CD. I am guessing it is just to get your money in their bank so in 18 mos. they can start paying me 1.5% Any thoughts? Share this post Link to post Share on other sites
Let Da Big Dog Eat 37 Posted August 9, 2008 I got a cold call from Wachovia today. No acct there so I do not know how they got my cell #. They said they have a 4.5% guaranteed 18 month CD $5K min. I made an appt to go in Monday. I already maxed out my roth and max my 401k. I have money in a couple of savings acct making like 2% . I do not want to do much with it since it is kind of an emergency fund. 1, This CD would be FDIC insurred right? 2. I would not be buying Wachovia stocks or anything like that right? I just have not heard of anyone paying that much on a CD. 3. I am guessing it is just to get your money in their bank so in 18 mos. they can start paying me 1.5% Any thoughts? 1. Yes. 2. No. 3. At the end of 18 mths, your money become liquid again and you can do whatever you wish with it. GL Share this post Link to post Share on other sites
itsbigmoni 1 Posted August 9, 2008 ING, an online bank, gives out about 3.3% interest on their checking accounts. Money is earning good money while being as liquid as possible. Share this post Link to post Share on other sites
CurleyQ 0 Posted August 9, 2008 It id FDIC insured. NO worries. They have a 12 mo at 4.25% amd a 36 mo at 5%, also, I believe. Share this post Link to post Share on other sites
frank 2,145 Posted August 9, 2008 ING, an online bank, gives out about 3.3% interest on their checking accounts. Money is earning good money while being as liquid as possible. I had money there for a few years. The difference between the savings account interest and CDs was never enough for me to tie up the money becaause I wasn't sure I wouldn't need it soon. If you shop around, I believe other banks offer higher interest than ING though. If you feel sure you don't need the money soon, the CD would be better. However, even 2% difference on 5k is only around $100/year. Share this post Link to post Share on other sites
Bill E. 666 Posted August 11, 2008 Thanks all. I was out of town all weekend so I did not get to view responses till tonight. Share this post Link to post Share on other sites
swirvenirvin 25 Posted August 11, 2008 ING, an online bank, gives out about 3.3% interest on their checking accounts. Money is earning good money while being as liquid as possible. actually ING blows compared to other online banks and they consistency give lower rates than other online banks, they are at 3% right now Share this post Link to post Share on other sites
itsbigmoni 1 Posted August 11, 2008 What are some other online banks? I actually haven't really heard of others. People who i talk about these types of things trust ING. Share this post Link to post Share on other sites
swirvenirvin 25 Posted August 11, 2008 What are some other online banks? I actually haven't really heard of others. People who i talk about these types of things trust ING. What's there to trust you are FDIC insured under 100k Emigrantdirect e-trade hsbc are some others Share this post Link to post Share on other sites
RLLD 3,455 Posted August 11, 2008 ING, an online bank, gives out about 3.3% interest on their checking accounts. Money is earning good money while being as liquid as possible. Share this post Link to post Share on other sites
