Comments on: Highest Short-Term CD (Certificate of Deposit) Rates

By: Liz

Liz — Thu, 26 Mar 2009 07:40:38 +0000

What’s the best way to invest money that will generate income every month? I want my money to make money and would like to know what you’re ideas are. Thanks.

By: Slinky

Slinky — Tue, 03 Mar 2009 18:06:35 +0000

Good to know the cds I was about to get at my local credit union are fairly comparable.

By: James

James — Tue, 24 Feb 2009 18:40:50 +0000

I current receive 6.01% on my checking account…yes my CHECKING ACCOUNT from Kansas State Bank up to $25,000. There are a few things you have to do to satisfy the requirement but for 6.01% I gladly do it.
Check it out. I do not work for KSU or get any kind of credit for this. I just believe that there are local small town banks that can really provide a good product and not worry about the next payment on their corperate jet.

By: thomas

thomas — Sat, 14 Feb 2009 18:10:13 +0000

lower rates are anticipatory.

Looks like that GMAC is a good one if you are looking for s nice short term boost.

By: Sandy E.

Sandy E. — Sat, 14 Feb 2009 17:21:17 +0000

I do online bill pay with USAA, but also need to write 3 checks a month. Recently I ordered a box of checks online from USAA – they were free and arrived in 3 days!

By: byikes

byikes — Sat, 14 Feb 2009 02:11:33 +0000

@Dave
I never understood why companies would offer lower rates on a CD than they would offer on their savings account

I thought the same thing 2 years ago when my E-trade account was paying 5.15 and 18month CD’s where going at 4.7.

By: Jim

Jim — Fri, 13 Feb 2009 18:35:27 +0000

I think they do it because they anticipate rates to continue falling, they can freely adjust savings account rates as they please but people can lock in rates with they go with a CD. About a month or two ago I locked in a 16-month CD at Dollar Savings Direct for 4%, the same as their savings account; because I knew the rates were going to fall (they already started falling at other banks). It’s just a matter of time now… with the Fed rate at essentially 0%, interest rates will keep falling.

Also, these are short term (< 12 months) rates, the longer term ones are more competitive.

By: Jim

Jim — Fri, 13 Feb 2009 18:32:49 +0000

They sent out an email stating the rate would be going down to 2.15% within a day, I figured readers deserve to know that it’s going to be 2.15% in 24 hours.

By: Dave

Dave — Fri, 13 Feb 2009 18:27:13 +0000

I never understood why companies would offer lower rates on a CD than they would offer on their savings account – other than hedging against drastic rate drops (which aren’t all that likely to happen), why would anywone tie up money in a CD at ING for 1.5%, when the completely liquid savings account is at 2.2%. Obviously if there is a greater rate on the CD, the lack of liquidity justifies the higher rate.

By: srikks

srikks — Fri, 13 Feb 2009 18:15:35 +0000

E*Trade Bank Is offering online savings account with interest rate 2.50 % APY. But it has been mentioned in your table (in brackets) as 2.15% APY.