This is a marketing bait and switch. One of two things must happen:
1) They lower the interest rate down the line after they've acquired a bunch of customers
2) They limit the offer to certain customers who are lucrative
If they sustain this offer for the general public, they will 100% go out of business.
The 5 year treasury rate is currently set at 2.75%. Traditionally, people use treasury bonds as a place to park safe money, but the SIPC insurance makes this just as safe (up to $250K).
1) They lower the interest rate down the line after they've acquired a bunch of customers
2) They limit the offer to certain customers who are lucrative
If they sustain this offer for the general public, they will 100% go out of business.
The 5 year treasury rate is currently set at 2.75%. Traditionally, people use treasury bonds as a place to park safe money, but the SIPC insurance makes this just as safe (up to $250K).