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Subject:  BoA CD Date:  6/16/2011  5:16 PM
Author:  Goofyhoofy Number:  32953 of 37017

OK kids, my banker called today flogging a new BoA CD, 20-year term, paying 5% for the first 5 years, 6% for the next 5, 7% for the next 5, 8% for the final 5, assuming it ever gets that far which is doubtful. Callable after 1 year and then every 6 months thereafter.

No fixed penalty for early breakage, it's on the secondary market which means penalty would be assessed at the time based on prevaling conditions, competitive rates, etc.

He says it will be full by Tuesday. FDIC insured.

What does anybody think?
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