A brokered certificate of deposit is a CD that an investor purchases through a brokerage firm or from a sales representative other than a bank. more Money Market Funds: What They Are, How They

Benz: Yeah. So, the big pro really when you survey various cash options is that because CDs do require you to lock up your money for a period of time, typically the yields are better than is the

Brokered CDs are technically not FDIC-insured. However, the broker’s underlying CD purchase from the bank is insured. That makes it essential to buy them from a financially sound company. I was of the understanding that the FDIC insurance of brokered CDs would be more direct (meaning that the CD purchaser would be the payee of the insurance). A brokered CD is a certificate of deposit that’s offered through a brokerage but issued by a bank. Since they’re issued by a bank, brokered CDs can be just like other CDs. The standard insurance coverage limit of up to $250,000 per depositor, per account ownership type, per financial institution, applies. That protection is available to you
Best 2-yr rate (brokered cd) = Discover Bank .869%. Discover and Synchrony are offering 2-year cd's at .65%. A far better deal at Schwab right now would be secondary market Treasuries. Better rate, best liquidity: US Treasury maturing 1/31/23 yield .803%. US Treasury maturing 1/31/24 yield 1.172%.
For example, if you own two CDs, $250,000 from one bank and $250,000 from a second bank, and you have no other deposits at those banks, you’re covered for $500,000. What is the difference between a brokered CD and a bank CD? Schwab offers brokered CDs which could be resold through brokerage firms at the market price.
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    • brokered cd vs bank cd