Merrick Bank is Offering a 3.25% Return CD

By Jennifer Miller

@SpoofeeDeals

Merrick Bank and several banks are raising savings and CD interest rates. If you don't mind keeping your money in the bank for a certain time, CD (Certificate of Deposit) would give you a slightly better rate and rates will not change for that time period.

The only catch is that, there is a minimum of $25,000 you need to deposit and it will be locked during the period.

Merrick Bank is a member of FDIC so up to $250,000 is guaranteed to be safe

Rates keep going up!

• 6 Month - 1.35% ($337/year)
  
• 12 Month - 2.27% ($567/year)
  
• 18 Month - 2.5% ($625/year)
  
• 24 Month - 2.87% ($717/year)
  
• 36 Month - 3.05% ($762/year)
  
• 48 Month - 3.15% ($787/year)
  
• 60 Month - 3.25% ($812/year)
  

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Spoofee - 1 week ago

Spoofee.com!

Rates have gone from 3 to 3.25%.

That's still an extra $62.50 difference per year on the minimum $25k deposit.

Argument would be that it seems like inflation is going to continue to get worse so it's silly to lock in for such a long time.

Guest - 2 weeks ago

just buy T-bills directly from the treasury, better rates and tax advantage.