Details for RATESEEKER LLC - Ad from 2019-10-06
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 2.25 2.25 2,000 2,000 2,000 2,000 24 mo CD Min 36 mo CD Min 60 mo CD Min 2.30 2.35 2.45 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 What happens to a forgotten CD? By Sabrina Karl Though some might find it hard to imagine, money socked away in CDs occasionally falls off the radar. Off the saver’s radar, that is. But banks don’t forget, and though you won’t lose your money, you may not be able to claim it as easily as you’d like. But if it’s been months or years, you’ll have to contact the bank to inquire where they moved your money. The good news is that the funds are still yours. But once they’ve been rolled into a new CD, you face two disadvantages. First, the interest rate on the new CD is not likely to be competitive, so you’ve given up your chance to earn more with a better certificate. Second, you’ll be forced to either wait until the new CD matures, or pay an early withdrawal penalty. These penalties vary widely across banks, but can be steep. When a certificate’s maturity date is soon approaching, your bank will remind you of the upcoming date, along with instructions for specifying what you want done with the funds. But if you neglect to provide instructions, most institutions will roll the money into a new CD of the same term. So if your maturing certificate had a fiveyear term, the bank will move the funds Claiming a forgotten CD isn’t complicated, but you’ll almost certainly reduce your into a new five-year CD. earnings by having neglected to act at If you miss your maturity date, because maturity. So avoid penalties and lost earnyou left mail unopened or you changed ings by putting maturity dates on your caladdress and didn’t receive the notice, endar, opening all financial mail promptly, there is usually a 10-day grace period and keeping your address up to date with during which you can still direct the funds. financial institutions. Rate Criteria: Rates effective as of 10/01/19 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.