Email from my bank today-cd’s

gidgetgh · ‎03-09-2010

I got an email from one of my banks this afternoon. They're doing a 13 month cd special, with an interest rate of 3.75% APY.

i haven't seen rates like that anywhere here. Full disclosure, I haven't looked that closely. I have some money in a money market there, making basically nothing. Tomorrow, I'm going to move it to a cd and take advantage of that rate. Maybe I'm clueless but I was thrilled.

My main bank is paying .005% on cd's. Quite a difference.

Why is it, when I have a 50/50 guess at something, I'm always 100% wrong?

KailaS · ‎03-09-2010

If you like to use online banks, Capital One had one year CDs at 4% the other day.

gidgetgh · ‎03-09-2010

American Express online money market has been paying well also. Currently at 2.35%

Why is it, when I have a 50/50 guess at something, I'm always 100% wrong?

Happy2BHere · ‎10-22-2019

I just got some CDs @ 4.55% at Edward Jones for one year - eighteen months is 4.75%. I am happy but always wonder how much more I could have got if I waited just a wee bit longer LOL.

Laura14 · ‎06-09-2014

Ally has jumped my rate from 0.5% to 2.45% I think as of today. I get an email every other week they are raising it. I love it.

They also gave me a bonus for transferring money in by the end of October. Since my other bank that has had my money for over 20 years is still paying me 20 cents a month on my savings without budging, I am making the switch to have somebody show me the money!

homedecor1 · ‎03-09-2010

Just bought thru broker a 9 mo CD for 4.25% and a 3 month at 4%.

They predict CD rates will continue to go up thru January.

frenchie · ‎03-12-2010

I just renewed one at 3%, have two more next month. Yes they have been going up nicely.

Snowpuppy · ‎03-09-2010

If you can let your $ sit for a time, I bonds are paying 6.89% as of Nov 1

They were over 9% until 10/28

You can purchase online. No broker needed.

jlkz · ‎12-02-2013

@Happy2BHere

Had you waited until a higher rate appeared, you would have lost $ interest by waiting: the " cost " of doing nothing.

This is why staggering the purchase dates for CD's makes sense. Start one and then when a rate goes up, start another, etc. It is called " laddering. " Look at different sources for the best rates and keep a calendar for maturing dates so you will be prepared to take advantage of great rates.

You may want to Google the concept so you feel comfortable doing this.

We make a living by what we get. We make a life by what we give.
Sir Winston Churchill