Millennium Bank is offering a 5-year CD that pays 8.75% with a $100,000 Minimum Deposit. What is the catch?
More rates and terms here Millennium Bank
- Premium Certificates of Deposit are NON-REDEEMABLE until maturity.
- You can invest your funds in Millennium Bank in the six following currencies: US Dollar, Euro, Swiss Franc, Canadian Dollar, Japanese Yen, and British Sterling.
WARNING! No FDIC Insurance! WARNING!
What is the catch? Deposits in most countries are protected by a form of deposit insurance (FDIC in the US.) Deposits in international private banks are not.
1 comment:
And the lack of FDIC insurance is a big deal. There is no oversight on this bank or what they do with the funds they get. I think the risk is too high.
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