Comments on: GMAC Bank 2.95% on a 12-month CD

By: mark

mark — Tue, 03 Mar 2009 18:06:31 +0000

I tried to refinance with a cool mortgage product GMAC had about 6 months ago and the customer service I got from a GMAC direct broker was just horrendous. Blamed it on ‘corporate policy changes’.
Based on that experience, I think the risk you take on as an investor is that GMAC changes their policies and terms at will and doesn’t give two cents about communicating with its customers.

By: Mike

Mike — Tue, 03 Mar 2009 05:51:47 +0000

Besides withdrawing funds prior to the maturity date, what other potential risks will an investor take on with this CD?

By: hallmonitor

hallmonitor — Tue, 03 Mar 2009 04:25:30 +0000

Eric, not sure if you are paying much attention to the world outside your computer screen but there aren’t many above-par banking offers out there any more. Par is now lame…face it.
I still think this site has a good listing of what’s available.
Better than other sites anyway

By: BloggingBanks

BloggingBanks — Mon, 02 Mar 2009 11:45:31 +0000

You have to be very careful with this offer, and only pu up to $100K in it in case GMAC Bank goes under..

By: Eric

Eric — Mon, 02 Mar 2009 03:23:31 +0000

This site has gotten lame. Bring back Wu

Now it’s just bankrate employees pumping their affiliate bank’s sub-par cd offers