I am ready to sell a business for $150,000. If I place it in a CD, will I be able pull the interest off of it monthly and transfer it to my personal checking account?
Many banks offer exactly that sort of interest disbursement, provided that the interest is transferred out to an account within the same bank. Some will transfer out to an account of the same individual in another institution.
Unfortunately, the only way to know whether your bank will accommodate such a request is to ask. You may have to contact a few banks in your area. When you call each one, get a quote on the rate you'd earn on your investment.
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Many banks offer exactly that sort of interest disbursement, provided that the interest is transferred out to an account within the same bank. Some will transfer out to an account of the same individual in another institution.