Menu:

Money For Rent

Narrated by Peter Tripp

Borrowing made easier by having us by CDs in your bank

“Money for Rent” is a courtesy deposit made “at your request” in the form of Certificates of Deposit accepted by your Bank, Savings and Loan or Credit Union for a specific time at a specific rate of interest.

What is the value of Courtesy Deposits?

  1. To deposit in your bank the money to loan to you.
  2. To act as a compensating deposit for you.
  3. To lend credibility to you and your business.
  4. To demonstrate your willingness to cooperate with your bank and it’s growth.
  5. To save your bank money in advertising or brokering CD deposits.
  6. To give your banker the incentive to want to do business with you.

How Does It Work?

We will discuss $99,000 or $100,000 deposits or more for a period of one year for our purpose. This is commonly known as a “JUMBO CERTIFICATE”. Our deposits in your Bank will be designated “Deposits made at the request of your name”.

Since these CDs must be FDIC insured, they must be within the insuring agency’s guidelines.

It must be understood that our courtesy deposits are trust funds and CANNOT be put in jeopardy or used to collateralize your loan; nor can they be used to guarantee your loan. It is clearly understood with your bank that they do not have the right of offset against our deposits. Any misrepresentation of these terms to any involved party could increase transfer expenses or make the transaction not viable. It is required that you pay, in advance, our retainer fees by wire transfer made payable to National Financial Company, Trust Account. Our deposits can range from $99,000 or $100,000 minimum to $10,000,000. Larger deposits can be arranged by special request. In the event we cannot confirm the deposits to your bank within 10 banking days ( on deposits up to $10,000,000) and provided our terms have been adhered to, your funds are fully refundable. Deposits over $10,000,000 may require additional time.

Deposits will be transmitted to your bank by wire transfer and will be designated “DEPOSITS MADE AT THE REQUEST OF YOUR NAME”. All movements of depository funds, when confirmed , are considered final.

Whether or not our deposits made in your bank accomplish your desired result is NOT the responsibility of National Financial Company, its affiliates or it’s agents. We never get involved with your transactions with your bank. Your transaction is between you and your bank.

How Do We Make Our Profit?

We charge a fee for our service (see fee schedule). That fee is used to enhance the interest rate of the CDs. In other words, if the bank is paying 3.0% interest on jumbo deposits and you are paying us a 5.5% retainer fee on the deposit, we earn a gross of 8.5% interest for one year on an FDIC insured CD.