Actually, the deal at Sovereign Bank is half your deposit goes into the 6-month CD at 2.0% APY, and half goes into the 36-month Invest CD, which is an equity-index CD linked to the performance of the S & P 500 index. Ken has posted on equity-index CDs before, i.e. Everbank has had a variety of index CDs. The main advantages of Sovereign Bank's product, compared to other equity-index CDs, is that they will pay interest on each anniversary date (assuming the S & P 500 has had a positive return) instead of paying everything at maturity, and their is no cap (some banks cap the maximum interest rate they will pay, in which case the return might be less than 100% of the performance of the S & P 500 index). I suspect most readers here will not be interested in this product.