Bank Deal: Earn 1.00% APY on an FDIC-insured savings account at Barclays.
Consider yourself warned… The Federal Reserve just cut interest rates by another 0.50%, meaning that it’s just a matter of time until the interest rate on your online savings account drops. Again. If you have extra money sitting around, now might be a good time to think about locking in a decent rate of return by purchasing CDs.
As I write this, ING Direct is offering 4.25% APY on 12 months CDs. This is actually quite competitive, and you can’t beat the convenience if you already have money deposited with them. You might also want to look at Jim’s updated list of certificate of deposit rates, which lists the top rates for CDs in the 6-18 month range.
And while we’re on the subject of CDs, be sure to check out my previous article on building a CD ladder. It takes a bit of time, but it’s definitely worth the effort if you want to maximize your returns.
- How to Become a Millionaire
- How to Get Out of Debt
- The Best Dollars I've Ever Spent
- How Our Estate Plan is Structured
- How We Paid Our Mortgage In Less than 10 Years
- Money Making Ideas
- How to Manage Your Asset Allocation with Multiple Accounts
- Consumption Smoothing - Save While the Saving's Good
- How to Save on Groceries
- How Much Life Insurance Do You Need?
- Eleven Great Books About Money
- Dave Ramsey is Bad at Math (693)
- Dish Network Customer Service SUCKS (537)
- $8,000 Homebuyer Tax Credit (429)
- Pay Off Mortgage Early or Invest? (424)
- How to Claim the First-Time Homebuyer Tax Credit (352)
- Termite Control: Sentricon vs. Termidor (330)
- How Much Should You Pay a Babysitter? (291)
- Ethanol Blended Gas = Lower Mileage? (273)
- Reduced Credit Limits? Share Your Experience (256)
- $15,000 Homebuyer Tax Credit (242)
- Buying Furniture off the Back of a Truck (237)
- Will Mac OS X Lion Kill Quicken 2007? (191)