We are concerned that the current amount pledged remains well below that which would generate significant interest on the part of financial institutions.
Pledges range from $5K to $700K. There had been a $1.7M pledge which isn't shown anymore. The pledges are posted on the message forum thread, and there's no obligation for posters. That makes it easy to pledge but also easy for a joker to make a fake million dollar pledge. I suppose the BestCashCow team is filtering out these.
If they were able to get tens of millions in pledges, I wonder how high a rate they would be able to get from a bank. Would 5% be possible? I've found several credit unions offering short term CDs of 5% or better. Currently, World Savings Bank has a non-advertised 5-month CD rate of 4.65%. The best 6-month CD rate is currently 4.30% APY from Corus Bank. Corus Bank is also offering a 12-month CD of 4.60% APY.