Retirement Answer Man cover image

What are Brokered CDs and How Do They Work?

Retirement Answer Man

00:00

What Are the Pros and Cons of a Traditional CD?

A brokered CD is CDs that are sold by brokers rather than just offer it to customers, their branch. Broker may charge you a fee to get into the CD; rates are comparable but they don't always earn more interest. The bank has the right at a future date to pay your money back early. A broker will try to sell this CD on the open market because it's going to become an auction of sorts.

Transcript
Play full episode

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!
App store bannerPlay store banner
Get the app