Ask Terry Questions CD RATE OFFER

CD RATE OFFER

By Terry Savage on May 14, 2023 | Chicken Money

What is your opinion of a 6.00 % CD rate for 6 months from Sun Cities Financial Group? Their advertisement in the Chicago Sun Times says they are not a bank. I wish I could attach a photo of the ad in the paper but I see I cannot. Their website is www.suncitiesfinancialgroup.com. The offer expires on May 19, 2023. Thank you.

Terry Says

I looked at their website, and they do offer “some” FDIC-insured CDs. But I’ll bet this 6% offer is not an FDIC insured CD.
You know the old saying: When something is too good to be true, it probably isn’t! Well, this falls in that category. I’d stick to T-bills, currently yielding over 5%. Read this: https://www.terrysavage.com/t-bills-beat-cds/

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