Sovereign Bank wants to help you cover your bases with a two-pronged approach to dealing with your money. The Save & Invest CD Package splits your money into two CDs, with one half put in a 6 month term Save CD with a 2.23% APR, and the other half in a 36 month term Invest CD.
Sovereign CD Sale
Diversify, Diversify
The Save & Invest CD is a great way to diversify your profile while still putting your money in one, easy to manage CD package. One half of your money will earn steady, high APR interest for a short term, while the other will be a longer term investment linked to the S&P 500. Also, the 6 month term has no early-withdrawal penalty, so you will also have access to that half of your money.
The great thing about the 36 month Invest CD is that unlike some long term investments, it is FDIC insured, and so you are guaranteed to not lose any of your investment; instead, the only penalty for the S&P going down will be that you will not receive any interest payment for that period. Otherwise, you will receive a great interest rate for every year the S&P goes up.
Some additional details about this offer are:
- Minimum combined deposit for the CD package is $5,000
- The package must be opened before Novemeber 27th, 2009
- The Invest CD matures on Novemeber 30th, 2009; the term will be 36 months from that date
- Early withdrawal penalties will be charged for the Invest CD, and within the first 6 days of opening the Save CD
This offer is an easy and low risk way to split your finances into savings and investment. For more information, visit the promotional page here.
