2007-01-30 07:39:09 · 7 answers · asked by MBA Chick 2 in Business & Finance ➔ Investing
1000,ooo.oo
2007-01-30 07:45:01 · answer #1 · answered by peanut 4 · 1⤊ 0⤋
Maximum Cd
2016-12-14 14:00:36 · answer #2 · answered by ? 4 · 0⤊ 0⤋
I'm not aware of any legal limit. If you've got a $1B and want to put it into a CD, I think you can. What gave you the impression there was a limit? I might be wrong, so I welcome pointers to places that show that there might be a limit.
A possible "limit" is on the FDIC insurance. CDs are not investments, so the principal is protected by FDIC up to a certain amount (I want to say $100,000 or $200,000, but I might be off). If you're really worried about this, open different CDs at different banks. Make sure that you pick banks that are unlikely to merge.
Unless you're quite wealthy, I cannot imagine you having enough money to put into a CD that you'd go much over the limit. CDs are safe, but they are just one part of an investment portfolio. If you have enough money to worry about limits, you likely have enough money to diversify into stocks, bonds, and other instruments, as well as Certificate of Deposit.
2007-01-30 07:47:35 · answer #3 · answered by Jay 7 · 1⤊ 0⤋
Theoretically a bank could and probably would decline a deposit that were large enough to material impact it's balance sheet. Deposits are liabilities of the bank so unless the bank were able to put the deposits to work for them it would be in their best interest not to accept extremely enourmous amounts of deposits when it isn't prepared for it. We're talking extemely large deposit amounts at larger institutions but I guess it's possible if you have tens of millions to deposit that you may run into a situation at a smaller bank where they would put a cap on the amount you can deposit. There is no legal requirement that a bank is forced to take your business when it's not in their best interest.
2007-01-30 08:07:08 · answer #4 · answered by SmittyJ 3 · 1⤊ 0⤋
The FDIC insures you up to $100,000.00. You can put in any amount (up to any restrictions by the bank) that you'd like.
Some banks don't want one depositor to have a large amount in an account. Their concern would be that an liquidation could be at an inopportune time. For the average "Joe" this will never be a concern.
2007-01-30 08:29:40 · answer #5 · answered by Common Sense 7 · 1⤊ 0⤋
You can put as much into a CD as you would like, but you are only insured up to $100,000.00 by the FDIC per tax ID number at each bank you invest at. And if you have that much, I would seriously consider hiring a financial advisor.
2007-01-30 07:46:43 · answer #6 · answered by Amber W 2 · 1⤊ 0⤋
How much do you have? that was rhetorical. A CD is a great first start for a lottery winner so millions.
2007-01-30 07:45:18 · answer #7 · answered by Anonymous · 0⤊ 0⤋