6-Month CD up from 5.30% to 5.38% 1-Year CD up from 5.31% to 5.40% 18-Month CD up from 5.30% to 5.40% 2-Year CD up from 5.25% to 5.35% 3-Year CD up from 5.20% to 5.30% 4-Year CD up from 5.20% to 5.30% 5-Year CD up from 5.20% to 5.25%
timothy86 said: Citibank has a special 7 month CD at 5% in branch or by phone only. You can still get a 6 month CD online at 5%. I got a call the other day from the CITIGOLD guy I have been talking to and he said in Boston you can get 5.50% for the 7 months
NetBank >>>DOWN(short term as the yo-yo style continues)
6-Month CD down from 5.40% to 5.25% 1-Year CD down from 5.35% to 5.20% 18-Month CD down from 5.30% to 5.25% 2-Year CD same at 5.20% 3-Year CD same at 5.15% 4-Year CD same at 5.15% 5-Year CD same at 5.15%
Regarding CDs, I heard that doing the 3 months is the best way to go because then you can "park" your money at a certain rate and when a better percentage comes up, you can "park" it there again to allow for maximum gainage. *don't flame me for lack of financial vocab/knowledge***i am a very very new newb to investing** I plan to do CDs and wanted to read up and gain feedback before moving my $ into it..any advice is greatly appreciated! and btw, this site is very informative! didnt find out about it til now.
Notes: $1k minimum. Only for those that live, work, worship, attend school or volunteer in Los Angeles County. Rate on CD is raised to 6.25% if you open a checking account and keep it funded with $1k for 6 months. Federally insured by the NCUA; $5 memebership fee to join the CU.
jeeney said: Regarding CDs, I heard that doing the 3 months is the best way to go because then you can "park" your money at a certain rate and when a better percentage comes up, you can "park" it there again to allow for maximum gainage. *don't flame me for lack of financial vocab/knowledge***i am a very very new newb to investing** I plan to do CDs and wanted to read up and gain feedback before moving my $ into it..any advice is greatly appreciated! and btw, this site is very informative! didnt find out about it til now.
it's somewhat speculative like everything else, who knows what interest rates will do in the next six months. it depends on the whims of the federal reserve like anything else interest related.
that said most people go with 6 months. rates are low to begin with and 3 month CDs are gonna be lower still. all you gain by going with 3 month over 6 months is the ability to get a higher rate sooner, assuming rates rise and you intend to roll them over for another term. and since the current federal reserve policies are very minimalist, i wouldn't expect to see any major change in interest rates in any one quarter. also, if you're only using 3 month CDs to speculate for higher rates over 6 month CDs due to rate changes, there's always the chance that you can lose when comparing two 3 month terms versus one 6 month term if rates go down.
say you're losing 0.15% on 3 month versus 6 month CDs over time. now look at the fed rate's change over the last year. raised to 5.25 in june of last year, and ummm, well, still at 5.25 as of this march. so unless you really might need that money after 3 months for some unforseen reason and can't lock it up for 6 months, i see little benefit in 3 month CDs over 6 month CDs considering our current fed policy. you're betting on a trend that simply isn't there.
in short, don't bet on rate upswings making 3 month CDs better than 6 month CDs over time. 6 months is the 'sweet spot' since interest rate stability is the current trend.
if you wanna work at getting more from CDs, shop banks for promotions like the ones mentioned in the post above, and shop the brokers for limited quantity promotional CDs with slightly higher rates, you'll do a helluva lot better with shopping around than you will with rate speculation on the terms of the CDs themselves.
I called CountryWide bank to ask them about rates on renewing my CDs. They offered 5.55% 11 month CD. Its their april special deal for existing customers. Worthwhile for people who opened a 9 month CD there when they had one of the highest rates.
World Savings update: http://www.worldsavings.com/servlet/wsavings/savings/rate-sheet-branch.html?place=WeChReEH1977 5-Month Internet CD 5.30% APY down from few days ago. 10-Month Internet CD 5.46% APY same 9-Month CD 5.46% APY same
One of the good rates nowaday, Financial Partner Credit Union, NCUA, 5.70% APY, 7 months CD, $1k minimum, $50k Max. http://www.fpcu.org/ I cannot find the ads from the web except the 5.5% APY CD. The 5.70% 7 months CD ads comes from its local flyers and in the monthly statement. I just got it. To get the 5.70% CD is by joining the membership (check website for policy) and open a free checking with a minimum $20 deposit (or may be open a saving account) at no cost. This is what it calls "The 70th anniversary Certificate".
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