Details for RATESEEKER LLC - Ad from 2019-06-09
St. Louis Post-Dispatch Deposit & Loan Guide Institution Synchrony Bank Int Chking Money Acct Mkt Acct Min Min NA 1.20 NA 0 3 mo CD Min 6 mo CD Min 0.75 1.00 12 mo CD Min 18 mo CD Min 2.70 2,000 2,000 2,000 24 mo CD Min 36 mo CD Min 60 mo CD Min 2.75 2.75 2.80 3.00 2,000 2,000 2,000 2,000 Great Rates + Safety = Peace of Mind. Member FDIC. Phone / Website 800-869-3813 www.synchronybank.com TO PARTICIPATE IN THIS FEATURE, CALL SALES DEPARTMENT @ 773-320-8492 Savings Update Can I name beneficiaries for a CD account? By Sabrina Karl Planning for how your estate will be handled upon your death may seem a daunting task, with many things to consider. Fortunately, however, the process for designating heirs for any certificates of deposit you hold can be very quick and simple. For the vast majority of bank and credit union CDs, you can complete a form that provides “payable-on-death”, or POD, instructions. Here you can designate one or more beneficiaries who will inherit your CD account upon your death. They won’t have any access to the account while you’re alive, and need not even know they’ve been named a beneficiary. The significant benefit of specifying a POD beneficiary is that it allows this account to be transferred upon your death outside of any probate process. So rather than be handled by the courts, POD accounts can transfer simply by the beneficiary presenting identification and a death certificate to the financial institution. Completing this form is generally very easy. If your bank has a solid online platform, you may find the printable form on its website, or even be able to complete the POD instructions electronically online. At a minimum, any bank or credit union will be able to mail you the form. One potential sticking point in quickly completing a POD form is that it may ask for the beneficiary’s social security number. Financial institutions vary on this, so you’ll need to see what yours requests. Also, even if the form requests it, you can call the institution to inquire whether it is mandatory to provide. Note that if your CD is held in a joint account — for instance with your spouse — naming them as a beneficiary is unnecessary. Upon death of one joint account holder, the other named individual automatically becomes the sole owner. Rate Criteria: Rates effective as of 06/04/19 and may change without notice. RateSeeker, LLC. does not guarantee the accuracy of the information appearing above or the availability of rates in this table. Banks, Thrifts and credit unions pay to advertise in this guide. NA means rates are not available or not offered at the time rates were surveyed. All institutions are FDIC or NCUA insured. Yields represent annual percentage yield (APY) paid by participating institutions. Rates may change after the account is opened. Fees may reduce the earnings on the account. A penalty may be imposed for early withdrawal. To appear in this table, call 773-320-8492.