Monday, April 30, 2007

Foriegn Real Estate CD

EverBank Direct, a Jacksonville, Florida-based bank, is offering an interesting $1,500 minimum deposit CD that is indexed to Japan's real estate market. The 3.5-year CD pays no interest until its maturity date when holders will receive an interest rate equal to the performance of the Japanese real estate market over that period. Investors are guaranteed to get at least their principle back, but will have to pay taxes on anticipated interest annually and interest doesn't compound since it doesn't accrue until the maturity date.

More here.


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