I’ve been following certificates of deposit for a while now. Yes, I’m a weirdo. People love 12-month CDs and 60-month CDs (5 years) because they’re easy to think about. We like the 3-month, 6-month, and 9-month terms because they’re nicely spaced out. Sometimes people will consider a 24-month CD too. But lately banks have been doing something different – they’re offering terms that are a month or two more or less than “typical.” I’m talking about those 11-month and 13-month CDs. Or the 15-month CD. Why do banks offer this? Table of Contents It’s Mostly Marketing 1-Month CDs!? Remember When It Matures Should You Get These Odd Term CDs? It’s Mostly Marketing There isn’t a big difference between a 12-month CD and a 13-month CD. There might be a business major somewhere that can make the business case for the bank’s investors but for the consumer, they’re the same(ish). At the level of tens or hundreds of millions of dollars in deposits, which is what banks care about, t
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