Charles Schwab CD Onesource Marketplace is known as the insured certificates of deposit issued by banks and savings-and-loan institutions. This kind of thing can be purchased for as little as $1,000 with the term that ranges from 1 month to 20 years.
Why is Charles Schwab CD Onesource Marketplace recommended by Charles Schwab? Apparently, CD can be the appropriate investment from investors who are looking to earn the better interest are of the return than the saving account offers and who value FDIX insurance, principal protection, and the fixed rate of return, and who do not mind setting aside cash for the specific term.
What does Charles Schwab charge for Charles Schwab CD Onesource Marketplace? The first one is the new issues. There is a selling concession that is included in the offering price for online and broker assisted trades. The second one is the secondary trades. This one is divided into which are online price and broker assisted trade. For online price, there is a transaction fee which is $1 per $1,000 CDs ($10 minimum, $250 maximum). For broker assisted trade, the fee is the online price plus $25 per trade service charge. In order to make you understand better about this one, here is the sample of CD rates available at Charles Schwab through CD OnceSource Marketplace.
|Maturity Ranges ( 9/12/2018 )||Rates up to|
|1-3 Month CDs||%APY|
|4-6 Month CDs||%APY|
|7-9 Month CDs||%APY|
|10-18 Month CDs||%APY|
|1.5-2.5 year CDs||%APY|
After understanding those topics above, let’s take a closer look at the benefits of Charles Schwab CD Onesource Marketplace.
- Competitive rates and no fee. Charles Schwab CD Onesource Marketplace offers you the virtual one stop marketplace for CDs along with the competitive rates all in one convenient location. You can use this one to easily compare CDs by yield, maturity, and institution. Aside from this, there are no hidden fees and there is no extra charge when you buy through Charles Schwab CD Onesource Marketplace. The main reason behind it is because the deposit institution itself pays the company a fee for distributing its CDs.
- Insure more money using FDIC coverage. For your information, the current FDIC coverage insures every individual bank up to $250,000 per depositor. In order to keep more money insured by the FDIC, the strategy is to buy CDs from multiple banks using Charles Schwab CD Onesource Marketplace.
- Choice and control. Charles Schwab CD Onesource Marketplace offers you the wide choice of CDs. It makes it easy to look for the rate and maturity that meet your needs. In addition, your CDs are held in the Charles Schwab brokerage account, not at the issuing institution. This kind of thing allows you to see your entire financial picture and manage your investments in one place.
Notification of maturity. Charles Schwab will send you the notification when your CD reaches maturity. It will remind you that it is coming due and to take action if you want to make another investment.