Thanks to Darryl (a RateCatcher.com reader), today we’ll review a Valentines Day CD special.
From now until midnight on Valentine’s Day, you can score sweet gifts by opening a CD at GiftsforBanking.com
In order to get the Valentine’s iPad/Camera Bundle, you need to open either a 2 year CD with a minimum of $50k or a 3 year CD with at least $25k.
The bundle includes:
- Nikon Coolpix® L22 Camera (red)
- 32GB Apple® iPad
- f?l Brooklyn 2-in-1 iPad Backpack
- $25 iTunes® Gift Card
- $75 Apple Gift Card
The approximate value of the bundle is $874:
$599 iPad
$76 Nikon Camera
$99 iPad Backpack
$25 iTunes Gift Card
+ $75 Apple Gift Card
__________________
$874
Here is a comparison of the value of the bundle to the additional interest you could have earned if you had purchased a CD from Melrose Credit Union:
$25k in 3 Year CD at GiftsofBanking.com @ 1.25% APY = $949.27
$949.27 (interest) + $874 (gifts) = $1823.27
$25k in 3 Year CD at Melrose CU @ 2.17% APY = $1,661.03
GiftsforBanking.com Valentines Day Offer wins by $162.24.
Never Ignore The Fine Print
Before you go signup for a CD at GiftsforBanking.com, you need to know the tax implications and return policy.
According to the FAQ page, you have to pay taxes on the value of the gifts. A 1099 will be sent to you. Penalties for early withdrawal apply and include the value of the gifts plus sales tax and shipping. A quick call to customer service revealed that a 6 month interest penalty also applies to early withdrawals.
You can view this offer at: GiftsforBanking.com
