Latest news with #JohnBell
Yahoo
3 days ago
- Business
- Yahoo
What is a CD loan and how can I apply for one?
A CD loan is a type of secured loan offered by a bank or credit union that uses your certificate of deposit as collateral. CD loans can be a good option for individuals with a long credit history and good credit score, but may not be suitable for those with other borrowing options available. CD loans can help build credit if payments are made on time, but defaulting can damage credit. CD loans are secured personal loans where your certificate of deposit – a type of savings account that has a fixed term and interest rate – is used as collateral. Opening a CD loan can help you avoid withdrawing funds from your CD account before the term ends, which would incur a penalty. Like other forms of borrowing, you can use a CD loan for many reasons, like financing an emergency, paying for a home renovation or consolidating debt, but this method isn't an option for everyone. Only those who have an active CD can take out a CD-specific loan. Interested in opening a CD account but want to shop around? Take a look at some of the best offers from lenders. Learn more A CD loan, also known as a CD-secured loan, uses your certificate of deposit as collateral. Because you're borrowing against your balance and not withdrawing the funds, the loan allows you to retain your investment without penalty. Like with other secured debt, lenders normally offer lower APRs for CD loans than unsecured debts like credit cards. Lenders can pull back on the eligibility requirements and charge lower interest rates because the loan balance is backed by the money in your CD. While this is ideal for the lender, it can pose a risk to you, the borrower. If you default on the CD loan, the lender can seize your CD to cover any delinquent payments. Applying for a CD loan is similar to applying for any other type of personal loan. Here are the basic steps: Compare CD loan terms: Rates vary depending on the lender. Shop around to ensure you get the best deal for you. Gather the required documents: Documentation requirements also vary, but you'll likely need to provide your Social Security number, government-issued ID and most recent pay stubs. Complete your application: After you've selected a lender, submit an application online or in person. Repay the loan as promised: Make on-time payments to avoid late fees and damaging your credit file. CD loans may be an excellent choice for consumers, depending on their unique financial situation. People who are building or rebuilding credit: Certified financial planner John Bell says, 'I think they are best for those that are building credit and maybe don't have access to more traditional credit options, like a loan from a bank or a credit card.' People who want to avoid early withdrawal penalties: A CD loan is also a good option for individuals who want to use the funds in their CD as collateral to avoid early withdrawal penalties. While you're not borrowing from your funds when you take out a CD loan, you may be able to borrow up to the amount you currently have in your account. CD-secured loans are ideal for people who have difficulty getting approved for a loan but are confident in their ability to repay the loan. While there are advantages and disadvantages, they can be useful borrowing tools for those who qualify. Easy application process Your CD continues to earn interest Long repayment terms Good for those with bad credit Lower rates compared to alternatives Not widely available CD account required Might cost more than cashing out your CD No access to funds Loss of funds Limited loan amount Can't borrow against CDs in retirement accounts Pros in detail Easy application process: When you apply for a CD loan with a bank or credit union that holds your CD, you can often get loan approval quickly, sometimes within hours, and receive funds within a day or two. Your CD continues to earn interest: Your CD continues to grow throughout the life of the loan. Long repayment terms: Banks and credit unions usually offer generous terms, sometimes allowing you to repay funds for up to 10 years. Good for those with bad credit: Borrowers with poor credit may qualify for a CD-secured loan. Lower rates compared to alternatives: CD loans generally come with lower interest rates than other types of debt, including credit cards and unsecured personal loans. Cons in detail Not widely available: Not all banks and credit unions offer CD-secured loans. CD account required: Most lenders require that you already have an active CD to qualify. Might cost more than cashing out your CD: Some CD loans carry interest rates that are higher than your CD's rate. 'Lenders tend to add [a] margin on loan rates, which normally makes borrowing more expensive than saving (i.e. [by] owning a CD),' says Chris Diodato, CFA, CFP and founder at WELLth Financial Planning. No access to funds: You cannot cash out your CD until after you've paid off the loan. Loss of funds: If you cannot pay off the loan, the financial institution will deduct the funds from your CD to recoup what's owed. Limited loan amount: You can typically only borrow a certain amount based on a percentage of your CD's value — often between 80 and 95 percent. Can't borrow against CDs in retirement accounts: 'CDs within retirement accounts such as IRAs and Roth IRAs cannot be used to obtain a CD loan,' says Diodato. 'The IRS prohibits pledging IRA assets for a loan and would treat such an action as an immediate and taxable distribution.' A CD loan may be a good way to build credit if you make consistent, on-time payments since around 35 percent of your FICO credit score is based on repayment history, but it's important to note that not all banks report CD loans to credit bureaus. If you're hoping your CD loan will help improve your credit, make sure to check with your bank first instead of assuming your payment will be reported to credit bureaus. That said, even though they're a lower risk than other options, a lender can still seize your CD and report your delinquency to credit bureaus. Avoid defaulting on your balance since it will severely impact your credit score and can remain on your credit report for seven years. If you don't have a qualifying CD or can't find an option that fits your needs, you could consider a few financing alternatives. Unsecured loans Unsecured loans, like personal loans, don't require collateral. You'll need good credit to qualify with most lenders, but there are options for those with bad credit. Keep in mind that unsecured loans typically carry higher rates than CD loans, but they're still a good option if you don't want to put your assets at risk. Savings-secured loans With a savings-secured loan, you pledge the funds from your savings account as collateral. Savings-secured loans often feature fixed-rate terms, enabling you to make the same monthly payment throughout the life of the loan. Since your own funds back the loan, banks often offer same-day approval. Like with a CD loan, if you default on the balance, you could use your hard-earned savings account to satisfy the delinquent payments. Secured credit cards A secured credit card offers benefits if you do not need a specific amount of money and simply need to build or repair your credit. Plus, with a positive repayment history, you may be able to qualify for an unsecured card down the road. To be eligible for most secured cards, you'll need to put down a cash deposit. This deposit acts as collateral and your credit limit. For instance, if you deposit $1,000, that will be your collateral, and you can use the card to spend up to $1,000. A CD loan could be viable if you have a CD and need cash quickly. It's easily accessible, even for those with low or no credit, and can help improve your credit health if managed wisely. The funds in your CD will even continue to grow throughout the loan term. These loans are not without its drawbacks. Simply making early withdrawals from your CD may sometimes be the better option. Consult with your online lender, bank or credit union to learn more about CD loan options that may be available to you. It's equally important to inquire about loan terms to determine if you should move forward with applying for a loan or explore alternatives. What are CD loan interest rates? Your CD loan interest rate depends on the institution you're borrowing from, your credit score, and your repayment terms. Interest rates vary, so comparing interest rates on CD loans and other borrowing options, like unsecured personal loans, credit cards and a credit card cash advance, is a good idea. When does using a CD loan make sense? If you're in a pinch and can't borrow money from any other place — like a personal loan or a 401(k) loan — or don't have access to a credit card, a CD loan is a good option for some. You can also use it to consolidate high-interest debt balances with minimum payments that are draining your wallet or for a small much-needed home repair or renovation. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
ABC News
19-05-2025
- Entertainment
- ABC News
QSO: The Tempest
Shakespeare's stories have inspired music by many composers. This concert features music from 4 composers who were all inspired by The Tempest and are interspersed with narration by John Bell. John is Australian Theatre Royalty, and has performed such monumental Shakespearean roles as Hamlet, Macbeth, Prospero, Falstaff, and King Lear. Recorded in the QPAC Concert Hall on 3 May, 2025 by ABC Classic. Producer Lucas Burns. Sound Engineer Shelley Bishop. Program Arthur Honegger: The Tempest Jean Sibelius: The Tempest (selections). Includes Henry Purcell's The Tempest overture Pyotr Tchaikovsky: The Tempest (Burya) Fantasy Overture Artists John Bell (narrator) Queensland Symphony Orchestra Umberto Clerici (conductor) Find out more Visit the QSO here
Times
09-05-2025
- Science
- Times
Sir John Bell: ‘We've seen spectacular growth in life sciences. The risk is we lose it'
The Beetle and Wedge Boathouse pub on the River Thames south of Oxford is a favourite local of Professor Sir John Bell, one of the most senior and well-connected figures in the UK's life sciences sector. Bell, 72, who has advised successive governments over the years and was regius professor of medicine at Oxford University for 22 years, remains a keen rower who enjoys coming downstream in his sculling boat from the pontoon at the foot of his garden in Wallingford as far as the pub at Moulsford. For our lunch, Bell has driven the short distance and we sit in a window seat inside the pub overlooking the still river with a fresh breeze blowing in on a gloriously sunny day. Bell doesn't 'do
Yahoo
01-05-2025
- Politics
- Yahoo
Ban on diversity, equity and inclusion across North Carolina government passes House
North Carolina House Speaker Destin Hall (R-Caldwell), huddles with Rep. John Bell (R-Wayne), right, during a House vote on Sept. 11, 2024. (Photo: Galen Bacharier/NC Newsline) Diversity, equity and inclusion efforts would be banned from North Carolina government under a bill passed by the House on Wednesday. House Bill 171 bans mandatory DEI training, consideration of diversity and equity in hiring, dedicated DEI offices or positions and the use of any taxpayer dollars on the efforts. It defines DEI as anything that 'promotes differential treatment' based on identity. The measure is part of a trio of Republican-led bills wiping DEI from all corners of the public sector — government, higher education and K-12 education. It passed the House on a 69-45 vote, as protesters and visiting members of the historically Black Divine Nine fraternities and sororities looked on from the gallery. State workers who violate the measure could be subject to removal, a fine of up to $5,000 and potential civil litigation. And the state auditor's office, currently held by Republican Dave Boliek, would conduct 'periodic' audits on agencies. Over the course of an extensive, wide-ranging and tense debate, Republican proponents described the bill as a long-overdue return to the idea of prioritizing merit in government. 'It restores the principle that should never have been lost: can you do the job?' said House Majority Leader Brenden Jones (R-Columbus). 'Did you earn it? Are you qualified?' Democrats warned that the bill would set the state further back as it struggles to fill vacancies within government, and that it could dissuade agencies from hiring workers who could be perceived as 'DEI hires.' 'Why would you want to be … somebody that sets off those alarms?' House Democratic Leader Robert Reives (D-Chatham) said. 'We know that's the effect. Don't pretend otherwise. This makes people say, 'it's not worth the trouble.'' The hours-long discussion featured lawmakers speaking on terms both broad and personal. Rep. John Blust (R-Guilford) read passages from books he described as 'seminal documents for DEI,' while remarking that the U.S. 'gets a bad rap' relative to the global history of slavery. (Reives later commented that he was 'happy to help with history lessons.') 'I don't think we're getting an honest assessment of what DEI is from the debate opponents,' Blust said. And Rep. Carolyn Logan (D-Mecklenburg) recalled being recruited as the only Black woman to serve on the NC Highway Patrol for more than a decade. And she asked who had taken issue with diversity and equity being used within the state workforce. 'Who was complaining about this? Who are the state agencies who say they were having a problem?' Logan said. 'Is it going to be cookie cutter? We're going back to all white males?' Republicans, who control the North Carolina legislature, have made a more concentrated push against DEI efforts this session in the wake of the White House's crackdown on those programs and practices nationally. The legislation now goes to the Senate. Bills banning DEI in both higher education and K-12 schools have already passed that chamber and are awaiting further action in the House.
Times
25-04-2025
- Science
- Times
Trump brain drain starts global tug-of-war for the best science minds
It is, said the president of the Australian Academy of Science, an 'urgent and unparalleled opportunity' to grab the best US minds for Australia. The president of Nanyang Technological University in Singapore agrees, but thinks the chaos in US academia is, instead, a 'golden opportunity' for Asian universities. Au contraire, says President Macron of France. As his country's universities launch programmes of 'scientific asylum' for researchers fleeing the US, the time is right, he says, to 'Choose France for Science'. Perhaps not since the victorious Allies competed to entice Germany's best scientists in 1945 has there been such overt competition to nab a country's intellectual human capital. But, says Sir John Bell, the head of Britain's Ellison Institute of Technology, there's probably no need
