Certificates of Deposit (CDs)

[Good-Person]

But if you look at it on the other way,they are into business and they probably get their revenue from the interest that persons pay for loan packeges they give out.But if there is any interest free facility,that would be a welcome idea.

Since I am a Muslim, I do not earn interest cash. This is because it is not allowed to make money by charging interest in our religion. However, other kind of investment opportunities are encouraged.

 

[tyrim88]

Have you invested in CDs? These days it seems that investing in a good certificate of deposit gives a better rate than earning interest in a bank. The downside is that you can't remove your money so if you have an emergency you should plan on having a back up. The fixed term can be as low as 1 year and can go up to 6 years...although I'm not sure if there some available for more than that? Anyone know?

I think this could be in the form of treasure bills or a form of bond,you are required to put your money for a specific tenor and when that time reaches you are given back your capital and then your interest.

 

[Good-Person]

I think this could be in the form of treasure bills or a form of bond,you are required to put your money for a specific tenor and when that time reaches you are given back your capital and then your interest.

Treasury bills are actually securities and investment instruments offered by the government. This whole system is based on usury and interest and this is why I void it due to religious reasons.

 

[tyrim88]

Treasury bills are actually securities and investment instruments offered by the government. This whole system is based on usury and interest and this is why I void it due to religious reasons.

As in religious reason,i do not really understand your point of view,you giving the government money to do their projects and at the end of the day they pay you back your capital and then some interest.

 

[Good-Person]

As in religious reason,i do not really understand your point of view,you giving the government money to do their projects and at the end of the day they pay you back your capital and then some interest.

Interest money is what I am talking about. I am a Muslim and this is why I do not invest in treasury bills and mutual funds because they are based on interest money.

 

[tyrim88]

Interest money is what I am talking about. I am a Muslim and this is why I do not invest in treasury bills and mutual funds because they are based on interest money.

Ok i get your point of view on this one.

 

[Georgeadawara]

I've heard about this method of earning and I haven't considered it before but now I'll do because I'm an advocate for safe investment even if brings little returns. Compounding it would make it increase overtime.

You're absolutely right by saying this, likewise I not long I get to know about it but didn't bother myself about it, but I didn't think it is a bad idea for one to do it though.

 

[Good-Person]

Ok i get your point of view on this one.

Well, there are many alternatives to buying certificate of deposit. There are many Islamic banks that are offering various kinds of offers and interest-free financing. I might invest with them.

 

[tyrim88]

Well, there are many alternatives to buying certificate of deposit. There are many Islamic banks that are offering various kinds of offers and interest-free financing. I might invest with them.

Well that would be a very good initiative because if you are given a loan to do carryout your business and improve on your production without having to pay any interest on your capital.Such loans are very much ok,china do offer gesture.

 

[eenya00]

Banks are paying literally no interest so it does not make sense to lock up your funds in CDs of any duration. Leave your money in banks for savings otherwise any excess cash should be invested in the stock market or real estate if possible.

If you have hope of banks paying you so much you would get disappointed as they would even cut money from you rather than paying you any form of money or interest

 

[Good-Person]

Well that would be a very good initiative because if you are given a loan to do carryout your business and improve on your production without having to pay any interest on your capital.Such loans are very much ok,china do offer gesture.

Well, there have been cases of many people who got loans and then they build their business in a better manner. They later paid the loans back as well. However, this may not be the case all the time with every person who borrows money. Scenarios may vary and differ.

 

[tyrim88]

Well, there have been cases of many people who got loans and then they build their business in a better manner. They later paid the loans back as well. However, this may not be the case all the time with every person who borrows money. Scenarios may vary and differ.

That is why it is called a business venture,it is usually filled with uncertainty,and the loan disbuser all know about these things reason they have a risk management investment strategic team that manages such investment project.

 

[Good-Person]

That is why it is called a business venture,it is usually filled with uncertainty,and the loan disbuser all know about these things reason they have a risk management investment strategic team that manages such investment project.

Yes, businesses are quite complicated as well. Investing in the stock market is also a great option but it is also quite risky as well. Having said that, the stock market in my country is also in a poor position.

 

[tyrim88]

Yes, businesses are quite complicated as well. Investing in the stock market is also a great option but it is also quite risky as well. Having said that, the stock market in my country is also in a poor position.

That is the thing most business persons usually fail to factor and consider when going into business,because those that are new in a business thinks that things will just fall in place almost immediately,but it might not turn out to be so.

Yes, businesses are quite complicated as well. Investing in the stock market is also a great option but it is also quite risky as well. Having said that, the stock market in my country is also in a poor position.

That is the thing most business persons usually fail to factor and consider when going into business,because those that are new in a business thinks that things will just fall in place almost immediately,but it might not turn out to be so.

 

[Good-Person]

If you have hope of banks paying you so much you would get disappointed as they would even cut money from you rather than paying you any form of money or interest

I have no faith in banks. Banks shall never support you. They offer you help when they feel like they can gain something from you. They tend to offer your money as loans and earn interest from the capital that you deposit.

 

[Nomad]

I have invested in Certificate of Deposit with the local banks. I receive 13 percent return on investment payable quarterly. I also try to compound my returns by buyng more certificate of deposit.