If you’ve been hesitant to open a certificate of deposit out of fear that you might need the money if you lose your job, there may be a solution from Discover Bank. The bank is offering a 12-month certificate of deposit that allows you to withdraw principal and interest or close the account without any penalties in the event of an involuntary job loss. That means the account holder must have lost their job due to a layoff, general strike, lockout, or involuntary termination. Other details of the penalty-free offer include:
- You must be employed full-time when the account is opened and for the following 30 days
- Minimum balance of $2,500
- Certificates of deposit must be opened or renewed between July 1, 2009 and Dec. 31, 2009
- Annual percentage yield (APY) of 2.2% as of June 30, 2009, but rates can vary
- FDIC insured up to $250,000 per depositor
- The self-employed need proof of business property or inventory damage, or their business must be closed for at least five business days because of a fire or flood.
Certificates of deposit can be opened online or by phone. Discover Bank has other certificates of deposit with terms that range from three months to 10 years.
- 6 Month CD 0.60 %
- 1-year CD 0.92 %
- 2-year CD 1.47 %
- Money Market Account 0.37 %
- Savings Account 0.60 %
- 30-year Fixed Mortgage 4.27 %
Bank rates provided by MoneyRates.com based on average rates for deposits under $10K and conforming mortgage rates
-
If you know of any bank deal that we haven't featured on our blog yet, we would love to hear from you. Whether you work with the bank or you found a deal in the newspaper, simply click on the submit a bank deal on the right hand side and help us all out!
-
If you know of any bank deal that we haven't featured on our blog yet, we would love to hear from you.
-
Confused on what you should invest in? Let the GoTalkMoney.com community help you when it comes to investing into a CD. If you already know what you're going to invest in, please vote on the poll on the right. If you want to see the results and you don't know what to vote, simply hit "I'm Not Sure" to see the results.
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009
- May 2009
- March 2009
- February 2009
- January 2009
- December 2008
- November 2008
- October 2008
- September 2008
- August 2008
- July 2008
- June 2008
- May 2008
- April 2008
- March 2008
- February 2008
- January 2008
- December 2007
- November 2007
- October 2007
