Posts Tagged ‘Fdic’

How much can I get when I invest into this certificate deposit?

Wednesday, December 30th, 2009
Bluesea asked:


# CD rate - a locked 4.10 APY1
# Short 4-month term
# FDIC Insured2

so If I put in 5000$, in January, When my money it mature? an also how much will I get when it is mature?
Thanks
So, does it mean, after 4 months I will have 205$ when my cd is mature?

1st deposit

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Posted in Investing | 1 Comment »

What will happen to the interest earned in a Certificate of Deposit if a bank closes?

Saturday, December 12th, 2009
Benjie C asked:


Washington Mutual has the highest 1 year Certificate of Deposit of 5%.
I understand that FDIC insures the money.
In some countries, although bank deposits have insurance, you can only withdraw that money in limited amounts in a specified time (staggered) if the bank closes. You cannot withdraw the money all at once…

1. If the bank close, can you withdraw the whole money (including the FULL INTEREST) all at once at maturity?
Or will the FDIC insure only the money you deposited initially?

2. If bank closes, What happens if you withdraw it before maturity?

1st deposit

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Posted in Personal Finance | 2 Comments »