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.

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