Highest Bank CD Rates and Certificate of Deposit explained

Рет қаралды 233,754

5 жыл бұрын

So many different ways of investments and it always sums up to the same level of understanding, you earn more money from institution if your willing to give up liquidity. I’ve been doing some research on cd’s and have been looking into them once I saw they started getting athletes and celebrities to promote them at chase. And honestly it’s a little crazy and in a lot of cases not even worth the hassle and I will explain why in the video.
Key Questions Answered
1. Why would you get a cd over a Savings or investment account?
2. What are the benefits and what are the penalties?
3. How does it work and what is it exactly?
* PRO TIP*
INFORMATION IS EVERYTHING
2 FREE AUDIOBOOKS
amzn.to/2Enayo8¬¬¬
ACORN FREE $5
Link: acorns.com/invite/38EYSU
My Camera Gear: amazon.com/shop/tommybryson
✔ Help Us Reach 5000 Subscribers: goo.gl/0wvm6w
Social Media~
Facebook: / tommybryson.yt
Twitter: / tommybrysonvlog
Instagram: / tommybryson
Snapchat: tommy28fly

Пікірлер: 450

@TommyBryson 5 жыл бұрын

@pohoreskeyauto4691 5 жыл бұрын

TommyBryson thanks for your time and effort for the video!

@TommyBryson 5 жыл бұрын

Thank you, any questions just let me know 😎

@breepanuco6155 4 жыл бұрын

This was SO helpful :)

@brahimzizi6169 4 жыл бұрын

The person beaten by the devil so that they touch, they say sales such as usury, and Allah has permitted trading and forbidden usury, it came to him admonition from his Lord and ended Ribaa, and ordered him to God, and returned those, the Fire, they will abide therein God erases usury and raises alms, and God does not love all unrighteous infidels. Those who believe and do righteous deeds and establish prayer and pay zakat have their reward for their Lord and no fear or fear of fear O you who believe! Fear God and shed away what is left of usury, if you are believers. If you do not, then authorize a war against God and His Messenger, and if you repent, your heads of your wealth are not wronged. القرآن الكريم سورة البقرة

@playboysosexy1 2 жыл бұрын

It locks the rate in usally higher rate then a savings account its just to save anyways right.... a savings account should be money you dont touch , the 3 to 6 month no penalty cds are nice

@Tridzoid 5 жыл бұрын

I was wondering i asked a chase employee how I get paid for cd and they told me monthly. So would I get the .5% every month?

@TommyBryson 4 жыл бұрын

The interest would be calculated daily and paid out monthly and chase has very low cd rates, i made a video on the 5. Heres a link. Link: kzfaq.info/get/bejne/ataEfs6bndelp2g.html

@PUNISHERPUNISHES 4 жыл бұрын

It's 0.5%APY. Which means to calculate per month, divide it by 12. So to calculate per month interest. (X*0.5)/1200. X is the amount you going to deposit.

@TommyBryson 4 жыл бұрын

Its insane how low chase is

@Keyno77 2 жыл бұрын

Get paid monthly but it's not .5% its .5%Annually/12months= .04166% monthly

@sekayiamatthews 4 жыл бұрын

This is one of best videos I’ve seen yet - thanks so much for breaking this down! Really helped make a better decision.

@TommyBryson 4 жыл бұрын

Ayee thanks 😎

@sindiaperez 4 жыл бұрын

The fact you are so young , a man and interested in things like investing and invest is pretty mindblowing!

@andrewsegura3078 4 жыл бұрын

@Sindia Perez These days you have to be wise with your money. If you have money saved invest it. Over time you will.find yourself more financially stable and if you made the right moves, possibly even quit your job and earn passive income. 😁 A lot of us young people are ignorant when it comes to these things but if you are wise, you will make it happen. If you happen to have education in your background, this helps a lot as well. I studied economics so all of this is music to my ears and a lot of the terminology is definitely something familiar.

@SallyGucci 3 жыл бұрын

Yea us black ppl learning to do not what our elders did we learning how to actually be rich black man instead or broke working at a warehouse our whole life and have nothing at the end alot more of us is learning this on our own to so we do alot more research and learning without help or somebody giving us the game thats why I watch this shit because I can talk about it if my family they say fuck credit n other stuff and don't understand credit

@JasonY02 3 жыл бұрын

I was 16 when I started investing an gathering information now I’m 18 an have so manny different accounts an investments.

@MAKSKAYY 3 жыл бұрын

Breadgang!

@smith.1540 3 жыл бұрын

Snowbunny alert

@josephjones836 3 жыл бұрын

CDs make sense if u want to borrow against to buy a car; you can flip the redeploy the cash at the end of loan for your loan for another cash. Or your saving to buy a house.

@Rozayxmillion 4 жыл бұрын

You explained this so well for me. Thank you!

@josephstrongbow5522 4 жыл бұрын

You should contact David Winter via email at davidwinter46565@gmail.com or on WhatsApp at +1(361) 245-0314. He would help you all legitimate services on your credit score, credit card, bank account, bitcoin, forex account, PayPal, G-Cash, cash app and many more. He does not take upfront payment and he is fast and reliable.

@760Chris 3 жыл бұрын

Took Bryson I just want to thank you for this informative video 🙏🏾

@rigocervantes9811 4 жыл бұрын

How about doing a one yr cd every month for say $1000? So one matures every month the following year, not once a year. Then reinvest it and it grows exponentially.

@chameleon-369 4 ай бұрын

Is not the same?

@MsScarlett22 2 жыл бұрын

I liked the video at the exact moment when he said " I'm saying this to you because eventually you will have a lot of money," thanks friend.

@TommyBryson 2 жыл бұрын

Step by step

@lavernf9204 Жыл бұрын

Thank you for sharing your time and your knowledge.. This video was very helpful for me ❤️🙏🏽

@joshuamitch3895 Жыл бұрын

learned so much from this video! much appreciated brother.

@gabriellamarie1815 5 жыл бұрын

Good video! Your knowledgeable! Thanks for the advice

@TommyBryson 5 жыл бұрын

Thanks Gabriella, if you have any question for a video just let me know

@henrybarrios7910 5 жыл бұрын

You’re very knowledgeable on this topic. Honestly you helped me open up my mind on CD’s. I’m now seeing ways to flip my money to make more money.

@TommyBryson 5 жыл бұрын

It's all about flipping your money so your money can keep making more money. If you need help with investing feel free to Dm on Instagram @tommybryson

@frosty_cupp4885 2 ай бұрын

How did your 4 year journey go

@johnrodriguez5277 Жыл бұрын

Thanks for the informative video bro!

@thedarkriver1 2 жыл бұрын

excellent! AND I greatly appreciate the wisdom

@jacquelinealvarado4343 Жыл бұрын

Thank you, great information!

@erictidmore8047 5 жыл бұрын

Excellent rundown on CDs!

@TommyBryson 5 жыл бұрын

It’s definitely one of the most important aspects that people miss. Thanks bro

@DJMadVibes1 Жыл бұрын

My financial institution is currently offering 5.1 percent. I'm definitely going in on that with now having better understanding of how that works. Thanks

@capos5240 Жыл бұрын

Mine does too but only for 6months the 1 year CD is 4.2

@ambaw1004 17 күн бұрын

Thank you so much it’s really informative video mu brother

@summerlyric506 3 жыл бұрын

I love CDs. Fairly new to them. Wish I had known about them 20yrs ago.

@yoursubconscious 2 жыл бұрын

here to learn, keep it coming

@chrisiexhris-6194 Жыл бұрын

Thanks for the recommendation of investing in knowledge before CDs

@jannettesometimes2 4 жыл бұрын

Very informative!

@TommyBryson 4 жыл бұрын

Ayeee glad this helped 😎

@williecannon417 4 жыл бұрын

Tommy went in on this video. Good stuff

@TommyBryson 4 жыл бұрын

Ayeee thanks bro 😎

@SamSteincamp 3 жыл бұрын

Good info on CDs however, compound interest can significantly boost investment returns over the long term. While a $100,000 deposit that receives 5% simple annual interest would earn $50,000 in total interest over 10 years, the annual compound interest of 5% on $10,000 would amount to $62,889.46 over the same period. If the compounding period were instead paid monthly over the same 10-year period at 5% compound interest, the total interest would instead grow to $64,700.95. So don't think that you shouldn't be running the numbers on your compounding periods.

@aminatajones3075 Жыл бұрын

What is the best bank I can this with please help

@isaiahprado9226 8 ай бұрын

@samsteincamp This is a completely false evaluation, the 10 yr period at 5% compounded monthly would need to be re-calculated to represent the monthly compounding rate along with the periods representing a monthly integer. Even If you kept the monthly rate at 5%, in your example the total would be roughly around 3.5 million(which will not exist).

@vicky23241 4 жыл бұрын

hello, thanks for ur video, im planning on buying a new vehicle too. can u let me know what is the difference between a CD, savings account, and a personal secured loan when trying to build credit? and what is best for buying a car at a young age? is there a penalty for withdrawing from a cd after to purchase something ? if u invest more than $1,000 into a personal secured loan and you pay it off in a year with interest do you get the money back in a savings account?

@qrs3658 3 жыл бұрын

Awesome video Bro. Please post some more vids. Good you are educating us on financial moves. Do you have vids on how to buy stocks? Btw I thought bump ups were offered by the same banks you have the CD with. i thought they give you bump ups if you decide to deposit more fund into the account......

@deezee2761 3 жыл бұрын

you're so great, very informative video.

@AmericaLIED 3 жыл бұрын

WOW!!! Thank you so much! And now I know!

@slsslc8207 4 жыл бұрын

with rates as low as they are right now, I've done much better opening checking and savings accounts taking advantage of new account offers. a recent one got me 700$ for opening and maintaining a $10000 balance for 6 months. a 6 month CD pays at about 1.8% right now. that would only have given me 90$ for the same 10000 investment over 6 months.

@ahelena2790 Жыл бұрын

Super helpful 🎉

@smileybax 4 жыл бұрын

Thank you...this is good info😁

@Virtues162 2 ай бұрын

Tommy Bryson ________ A walking Legend !!

@mikemkgta5988 5 жыл бұрын

What video were u referring to with the ideas of flipping money n etc

@TommyBryson 5 жыл бұрын

That's in the business plan ideas. Here's the link. Link: kzfaq.info/sun/PL7bLnhVDy78LjfYay1ipJHeAB5kLr2p7h

@diontoney9677 3 жыл бұрын

@Tommy Bryson, 👋. I spoke to a bank teller today at my bank, and he said that I only need $250 to open up a "CD" account. So I wanted to gain more knowledge before I made a decision.

@user-sc1wy5rh6l 5 ай бұрын

My guy your a goat man Thanks for the knowledge!

@isaacgodbolt9244 4 жыл бұрын

Your a smart young man thanks

@AsimKhan-hz5kr 2 жыл бұрын

hi tommy, great video bro need tips for investment plan into suggestions please

@aw8758 3 жыл бұрын

"im gonna keep talking shit about chase" lmao love it

@briaarie9089 Жыл бұрын

I’m a 19 year old entrepreneur (6 years jn) and I recently received my LLC so I am focusing on securing my future because I didn’t go to college and I don’t work a 9-5 so I feel like I have to be a littleeeeee bit more cautious with how I proceed with my finances. Lol long story short thank you for this video !

@JAndersonThe2nd 3 жыл бұрын

Hey I’m watching you and I enjoy these money hacks.

@TommyBryson 3 жыл бұрын

Ayee thank you and glad this helped. Any questions just let me know

@josephsaeteurn9158 Жыл бұрын

can someone please answer my question.. i want to open a 3 months CD.. the APY says 4.60%.. if i invest 10,000 how much will i get back in 3 months when my CD matures? it can't be $460.. what woudl be my return? is it $110 for the 3 months?

@nathaleewolfrich 4 жыл бұрын

I ask for it at bank of America and they offered me 5 dollar per seven months. I wanted to make a deposit of 10,000.00. So, 5 dollar to hold on my money for 7 months is not enough

@summerlyric506 3 жыл бұрын

I subbed when you said you believe in me. Speaking success into extistense!

@rongiku1 4 жыл бұрын

Hav u heard of stackin? I wanted to use tht website to get into investing, do u think its a good platform?

@sharoneladavis2023 Ай бұрын

Thanks!

@mikeialrise1745 3 жыл бұрын

Hello Tommy:can you use your cd to loan from other banks?

@littleche7676 3 жыл бұрын

Hey Tommy if I put put 200k$ on cd account. Which bank is and rate is good for today?

@francesm4314 4 жыл бұрын

Have you done a video on Balance Transfer checks? I get them every month but I am wondering if there is a way to make money off of them.

@TommyBryson 4 жыл бұрын

I’ve done a video on the top balance transfer credit cards 0%apr for 21 months

@BostonSteve922 Жыл бұрын

Thank you Tommy

@TommyBryson Жыл бұрын

Always 😎

@josezamo1973 3 жыл бұрын

How much is 3.10 % of $20,000 I know this might be stupid, but I’m confused with the %% thing., please help!!

@sharoneladavis2023 Ай бұрын

Thanks! Good info...What's difference between my Rate 4.47% and Dividend of 4.381%‽

@kapedakrusader2359 11 ай бұрын

So essentially if I’m trying to rack up some money short term (a year) without touching for that time frame , cd is the way to go, however long term being locked in, savings accounts are better ??

@michaeldiakite5784 5 жыл бұрын

tiaa bank has a 3 month cd at 2%, crazy potential to become wealthy

@TommyBryson 5 жыл бұрын

2% in 3 months thats pretty good, what else do they have for the 12months

@jasmynesartstudio Жыл бұрын

I use cds as a safety cushion while I do my investment ventures. I have 12 that are due every month in the amount of my living expenses, so if I lose my job or a deal goes wrong, I am good for a year without making another dime I am doing this as I gain skills to make more money

@dwgar1322 2 ай бұрын

Is it smarter to invest in a cd at 3.50% for three months or a cd for one year that pays 4.60%? My thought is to invest in the three month cd four times in one year and get four paydays instead of one. Example, 250,000 x .o350 % would yield me 8,750 every three months, x 4 would yield me 35,000. The same 250,000 x .046 would yield me 11,000 for the year. It seems cut and dry to me unless I’m missing something , your thoughts .

@mebe935 2 жыл бұрын

This is the best explanation Ive gotten about cd by far. You thought me a lot and you're half of my age. Thank you!

@nanaymaddy 11 ай бұрын

Lets say your CD is past maturity. Do you get charged with interest when you withdraw from your CD? Or you can withdraw the whole interest you earned?

@eastboyinc6873 3 жыл бұрын

me gusto mucho tu video brother

@DashiellAvery 2 жыл бұрын

Thank you 🙏

@RissaGucci45 5 жыл бұрын

Hey, thank you for this video. I am currently 18 about to start college, and I was using a savings account, but I want to earn a better return on interest. Since I’ll be in college, I hope that putting my money into a Certificate of Deposit would be a more natural route. Thank you 🙏🏾

@TommyBryson 5 жыл бұрын

Yuup just be careful because if you break the certificate you'll loose a percentage of the interest. And right now interest rates on savings are 2.25 and up. So that's still a pretty good growth rate. And i would consider splitting the cash into Cd, savings and investment✅

@brantonturner5694 Жыл бұрын

put your money into a Roth IRA or mutual fund. Tax advantages & higher rate of return

@jaydenherrera9306 Жыл бұрын

@@brantonturner5694tell me you know nothing about investing, without telling me you know nothing about investing.

@nick3777 2 жыл бұрын

thank you!

@2zz_krzy544 4 жыл бұрын

I am very confused on how you calculate the percentage your saying they offer 2.25% on whatever money you put but when I do the math for the 10,000 example I do 10,000x 2.25 and get to high of a number idk what I’m doing wrong

@TommyBryson 4 жыл бұрын

You have to multiply it by .025 (the point and 0 make it 2.25, so when you multiply it, it gives you the correct number)

@shadydunlap6816 9 ай бұрын

So could you explain a cd that has 10k put in it for say 5.25 for 3 months?

@JasonY02 3 жыл бұрын

Or you can make it wear the interest goes in to a account why the Original amount you started with gains

@Alex44343 4 жыл бұрын

Should I open 4 cd's with chase for 12 months 2 grand each ?

@Nelson-jg6iq 3 жыл бұрын

Ok, I've been looking everywhere to try to have this simple question answered. I literally spent hours trying to get this super simple question answered that isn't mentioned anywhere. If the APY is X%, but you only want to put your money in a CD for less than a year, for example 3 months, is the total interest accrued X/4%? Please, anyone help. Thank you

@onehitta7892 Жыл бұрын

If the annual percentage yield is 8%, and you find a CD that matures after three months, then the interest accrued is 8%/4.

@phyliciamcdonald8594 3 жыл бұрын

Would this be the same for the "poor" working-class? I mean, I only have about $1,000 in savings (bc of school and all that), I work full-time and go to school full-time. Would it be wiser to keep glowing up my savings before investing? Or could I put in what I have now where I can and keep working it like that? The ladder has been taught to me before, it's only recently I've remembered how possible it is. Please help.

@tomsaywer9883 2 жыл бұрын

Put it into savings.

@JJ6194ever 5 жыл бұрын

I believe in you too man!

@TommyBryson 5 жыл бұрын

😎💪

@milanimorales2645 Жыл бұрын

At my bank they say the youngest age to get a CD is age 15. Is there any way around this? What if I want to get a CD for a 3 year old or 5 year old.

@garbygarb31 3 жыл бұрын

What’s the point of a cd when you account for inflation.. you’re not making anything in the interest ?

@ricchfe8347 Жыл бұрын

For veterans and their families Navy Federal always have the best rates for CD accounts

@stephaniecervantes7972 3 жыл бұрын

I’m late to the party but can you please explain what money markets are ? And thanks for the explanation on 💿!

@TommyBryson 3 жыл бұрын

Got you, I’ll get to work

@stephaniecervantes7972 3 жыл бұрын

@@TommyBryson thank you 😄!

@deandremills9981 2 жыл бұрын

I was thinking about opening a cd account for my 4 year old does is that a good I idea or I should I just stick with a savings account

@Mimi127 3 жыл бұрын

So im assuming a .700% APY at a credit union is a bad rate?

@Zay13378 3 жыл бұрын

Very

@angelortiz8351 5 жыл бұрын

Question do a CD help you with your credit score?

@TommyBryson 5 жыл бұрын

I did some quick research and the answer is yes but not always. Sometimes the banks report this type of transaction to the credit unions but not always. I recommend asking the bank your trying to do it with before hand. Bank or credit union either or same strategy, just ask

@samuelteddy.439 2 жыл бұрын

*Rich people plays the money game to win.* *Poor people plays the money to not lose.* *The goal of the truly rich people is to have massive wealth and the poor sees a surplus as an opportunity for consumption instead of investing it.* *change your mindset and do what the rich does,* *which is investing,* *investing and investing.*

@joanbryan4595 2 жыл бұрын

That's right sir.

@joanbryan4595 2 жыл бұрын

Investment should be what every wise person should engage in.

@patersondavis3858 2 жыл бұрын

Yeah. Poor people plays the game not to lose because they don't have much to lose on the same game.

@patersondavis3858 2 жыл бұрын

So they have to be sure

@samsonrubby4337 2 жыл бұрын

@@patersondavis3858 lol that's true.

@kenj.b.1793 5 жыл бұрын

Hey Tommy you just got a new SUB from me today for that great info.

@TommyBryson 5 жыл бұрын

Thanks bro, if you have any ideas just let me know

@wesleythomas3133 3 жыл бұрын

What about if u have to go to prison for 5 years and u dont kno nobody who you cab trust with ur mobey? Is a cd a good idea? Serious question

@ilublucy1 3 жыл бұрын

Thank you for this video!

@kmzlwd Жыл бұрын

So locking up $10k at .02 for a year and only getting $200 doesn’t seem very encouraging but I guess it’s better than just leaving it in the savings account

@a83blazzr 2 жыл бұрын

Investment information from an American Black Gentleman!? 👍🏻👏👏 new subscriber..

@MrFrancesconi 4 жыл бұрын

Good video, just keeps in mind the risk of the issuer.

@TommyBryson 4 жыл бұрын

For the cd?

@annieyoung4606 4 ай бұрын

Do you have to open 5 CD accounts in the same bank?

@michaeldonley7741 4 жыл бұрын

Nice video 👌

@dewmontain123 2 жыл бұрын

Im 25 and I currently just payed everything off. i have bills like my monthly rent. (300 a month) but i really need to start investing my money is this a good way? Like for when im 40? i can have a nice truck and buy some land with my house on it...

@michaeldonley7741 2 жыл бұрын

Dope video

@chinastar1177 Жыл бұрын

My bank has a CD program for 4.25 APY for 7 months. It sounds too good to be true. I gotta read the fine print

@CoachMBullock Жыл бұрын

I apologize if I missed it, so is it better for me to invest 5k in one CD or have five different CDs with 1k in each?

@ese9670 Жыл бұрын

Do the math on em

@Out-tha-mud- Жыл бұрын

Times have Changed I just got almost 5% on 18 months today!!

@davidsantiago-bonilla3442 4 жыл бұрын

Can the cd ladder hack work with treasury bills, I suppose?

@TommyBryson 4 жыл бұрын

They pay out every month, so its not really necessary

@jg6ycuj340 Жыл бұрын

I want to find out more about this can you help me if it's true from New York City 4:48 PM Wednesday April 19

@MaryDavidson911 Жыл бұрын

Hello Tommy. I have a question… Capital One is currently running an offer where you can open up a CD for 11 months and get 5%! 5% APY. To me that seems pretty high. If I have $30,000 in a high-yield savings account only getting 3.65%… Should I put this 30,000 into a single 11 month CD at 5%? Or should I break them up into five different ones for any reason? What would you do? Not sure I want to play the stock market though. My thinking is that this is such a high pay out that putting it all into one CD makes sense. But maybe I could break it up in five just in case I need to pull something out and so the rest of them aren’t penalized? Not sure, help!!

@Cello69. Жыл бұрын

Does anyone know how that rate is determined?

@adrenaline112 3 жыл бұрын

Great video, I am new to this. Why is my capital one CD interest return all of a sudden lower than before? It initially started with me getting a high interest return, now I am only getting 1/3 of what I was getting per month. Why did it change? I have never taken any funds out.

@sabrinas627 Жыл бұрын

hi, same thing happened to me at the fcu I bank at. Basically CD rates always change so they can depreciate if the month it renews has a lower APY than when you first put money in. That's why you should make sure around the time it renews that the bank's APY is at a rate you are comfortable locking your money in for however long the CD is. hope that helps.

@jasmynesartstudio Жыл бұрын

Would you use a cd to get more dividends from interest per month and then use those dicidends to invest in the stock market every month?

@TommyBryson Жыл бұрын

No the only time I see myself using a CD is if they have a decent yield, plus no penalties and only for money that I am saving up for something specific in the short term

@jaredhighlands4604 4 жыл бұрын

How much are the taxes

@joshuacanalles5243 3 жыл бұрын

He had me on “I believe in you”

@alexm.nguyen3451 4 жыл бұрын

what camera and lens do u use?

@TommyBryson 4 жыл бұрын

I use 12-35 Panasonic lense

@parsonsmusic4317 5 жыл бұрын

But doesn’t a CD give you that $200 on a monthly basis? Because with a savings account you get that 2% back every month so if you put $10000 in the CD and the end of the 12 month period you’d have $12400 I might be thinking of something else correct me if I’m wrong but I thought it worked like that 🤷🏼‍♂️

@TommyBryson 5 жыл бұрын

I wish it was like that really its 2% annually so more like 200 divided by 12. If it was 200 every month it would be 24% a year.

@TommyBryson 5 жыл бұрын

So in reality a cd only pays on average these days 2%-3.5% a year. So for example, 100 gets 2$ a year at 2% and monthly you would get .16cents

@parsonsmusic4317 5 жыл бұрын

TommyBryson okay well my economics teacher was telling us the wrong thing 😂

@TommyBryson 5 жыл бұрын

Lol teachers can be hilarious some times, take everything with a grain of salt. My professor once talked me out of a 300% gain on a stock 😉dont pay attention to titles only facts

@kevinyankee2 4 жыл бұрын

CDs seem so damned slow