Advertising Disclosure
  1. Home
  2. Community
  3. Ask
  4. 100 Yr CD - 4.75%

100 Yr CD - 4.75%

PHart
  |     |   17 posts since 2022

Thoughts?

https://www.waldenmutual.com/posts/coming-soon-our-100-year-grow-local-cd-sustainable-banking

  Post an answer
2


Answers
senda
  |     |   126 posts since 2015
The hidden fine print stipulates that 100 years from now, only the original purchaser will be authorized to collect said funds upon maturity (or request that it NOT be auto-renewed for another 100 years). In addition, any non-renewal request will only be valid if submitted by hologram, within 3 nano-seconds of maturity time. Otherwise, the CD will auto-renew for another 100 years at the rate, smell, and 4D color in effect at the time. FDIC insured up to $1 Zimbabwe dollar. Open yours today!
Reply
7
me1004
  |     |   1,379 posts since 2010
Don't worry, you can close it at any time. The EWP is only 10 years of interest. :) But that actually makes it potentially worthwhile for a 20-30 years time frame:
As an example, if you purchased a CD for $1,000 and withdrew it after 20 years, you would receive $1,942, or an effective interest rate of 3.32%. If you withdrew it after 30 years, you would receive $3,443, or an effective interest rate of 4.12%.
Imagine locking in 4.12% for 30 years. Or even 3.32% for 20 years. We just went through about 12-14 years of 1.5% or less.

I find the promise of FDIC coverage of at least $250,000 for 100 years potentially illegal. You can't presume there will be any FDIC coverage for the next 100 years or forever.
Reply
2
GH1
  |     |   1,053 posts since 2017
publicity stunt
Reply
3
GH1
  |     |   1,053 posts since 2017
The more you read it. It looks like a charity cd. Your giving the benefits to a charity or future generation. I guess maybe super rich it might make sense. No idea
Reply
1
anonlol
  |     |   178 posts since 2016
be serious
Reply
1


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.