Lafayette/GTE For 5 Year Jumbo Cds

ycking | Apr 4, 2023 | 1 posts since 2023

I am looking to park some money for next 5 years with Jumbo CD. I notice Lafayette and GTE are currently showing top rates at 4.85% and 4.80%. Does anybody have any experience with these two banks (good or bad) ?

Post an answer

Answers

sams1985 | Apr 4, 2023 | 781 posts since 2022

GTE has been great so far..I opened a CD in February...the entire process was smooth and easy. Wired over the money on February 3 and the CD was opened same day. Good app, website and customer service as well. I like that they have an online chat feature so i never have to call if i want to move dividends over. Very easy to move dividends externally if needed.They did do a hard credit pull FYI.

I decided on GTE over Lafayette because of the EWP. 6 months at GTE. 600 days at Lafayette which is insane.

Too bad ALL in CU ended their jumbo rate on friday. That was a good one at 5.05. May want to call and see if they'll make an exception of you have an account or were in the process of opening one.

racecar | Apr 4, 2023 | 616 posts since 2014

GTE. Generally easy to deal with, and their penaly is a lot more mild than Lafayette. That's an easy choice as I see it

John19 | Apr 4, 2023 | 395 posts since 2022

Might be a good time to buy GTE if you want a higher rate with a six month EWP, when they drop their rates there won't be much left at this point. Only brokered CD right now on Schwab is CIBC 4.45% five year. GTE rate is more than two months old now, I wonder when they drop it.

JeffinEasternFL | Apr 4, 2023 | 744 posts since 2020

Suggest you read reviews on here and T&C's from each FIs website...

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.