CD At A Quick Glance:
- APY: 1.9%
- Deposit Length: 11 months
- Minimum deposit required: $10,000
- Maximum deposit allowed: $2,000,000
- Insurance: FDIC
The Offer
No direct link, but confirmed by Bloomberg
- Morgan Stanley is offering an 11 month CD with an APY of 1.9%, minimum balance is $10,000 and maximum is $2,000,000. You need to have a Morgan Stanley brokerage account to open one of these CDs
The Fine Print
- Valid until September 18th, 2017
- Must be made in increments of $1,000 (e.g no $10,500 CDs)
- Each CD must be funded by new money (net cash inflow starting July 14, 2017 through the end of the promotion) deposited through your Morgan Stanley Smith Barney (MSSB) brokerage account; funds must come from sources other than an existing Morgan Stanley account
Our Verdict
This rate is 0.6% higher than any of the basic savings accounts offered so could be useful for people that are happy to tie up $10,000+ for 11 months and don’t want to chase rewards checking accounts for 5% APY (or have already maxed out those opportunities). We are very new to covering CDs so let me know what other sort of information we should include and if you like/dislike our current format. I’m trying to only cover deals that are significantly better than the top basic savings account rates, the first one we posted was 3% with NFCU for example. At some stage I’ll create a best CD page so it’s easy to track what is currently available.
Hat tip to reader Nathan Y
