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Monthly Budget 4,000??

  1. #46
    Join Date
    Aug 2016
    Location
    Near Mount Pilot
    Posts
    5,352
    Quote Originally Posted by KingsX View Post
    Some banks/credit unions call their percentage CD distributions "dividends" [instead of "interest."]


    What's the difference ?

    .
    IMO some financial institutions use the term dividend because a dividend is paid out of profits, if the business does not make a profit no dividend.

    Interest, on the other hand, is a contractual obligation that must be met even if the business is not profitable.

  2. #47
    Join Date
    Dec 2017
    Location
    Texas
    Posts
    1,086
    .

    As I said... I have had regular CDs at banks and my credit union pay the regular interest percentage...
    but instead of the word, "interest", they use the word, "dividend"... but how, when and how much
    is paid is the very same as if it were interest.

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