Details for RATESEEKER LLC - Ad from 2019-10-13
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 Why it matters whether your bank is FDIC-insured By Sabrina Karl Bank failures sound scary. All of a sudden, the federal bank regulators rush in unannounced and shut the operation down. And whether you hold accounts at that bank or not, you’ll find out at the same time as everyone else – after the fact. $250,000 held by a single individual at a single FDIC-insured bank will be reimbursed by the government if the bank is seized. But even if you have more than that amount held in bank accounts, you can still protect yourself. If you’re married, you can hold up to $250,000 in each spouse’s name, for $500,000 in total coverage. Or, you can split your deposits among more than one bank, so you don’t exceed $250,00 with any one institution. But while that may sound scary, for the vast majority of a bank’s depositors, there really is no significant danger. That’s because the U.S. has a sophisticated, well-run insurance system called the FDIC, which protects your funds should a bank fail. Of course, this works if you hold your deposits at an FDIC-insured bank, which is most of The Federal Deposit Insurance Corporation them. However, banks do exist that provide is a government entity started during the private deposit insurance instead of FDIC Great Depression to restore confidence in coverage. It’s possible you’ll be just as safe the U.S. banking system. And confidence with these privately insured banks, but many and trust is exactly the sense it should bring savers feel more comfortable sticking to you today. Because unless you have a very government-backed insurance. large sum deposited at a single bank, FDIC insurance has your back. Fortunately, it’s easy to check if a bank is federally insured. Just check the bank’s materiThe way it works is that all deposits up to als or website for the FDIC logo. Rate Criteria: Rates effective as of 10/08/19 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.