View Full Version : Researching CD Rates?
08-18-2005, 09:16 AM
Is there a place online where I can find out which bank has the best CD rates? I have 2 coming up for maturity next week and I want to make sure I'm getting the best rate before I just let them rollover...
08-18-2005, 09:30 AM
This article was in Money magazine this month...the on-line version doesn't give a list like the hard copy article, but it does say to check bankrate.com for the best rates.
Why CDs Look Tempting Now
With rates up sharply from a year ago, yields on some short-term certificates of deposit now rival the returns on 10-year Treasury bonds
September 2005 Vol. 34 No. 9
Short-term CDs are climbing out of their long slump.
Six-month rates have more than doubled from a year ago to an average of
2.4%. Top-yielding one-year CDs, at 4% or more, are competitive with
10-year Treasuries. Longer-term certificates, however, have barely
budged from a year ago.
• Stay short.
Opt for maturities of one year or less. You won't lose much in yield and
can always reinvest at maturity if rates go up.
• Consider bump-up CDs.
You'll sacrifice only about a quarter of a percentage point in yield to
gain a one-time chance to raise your rate to current market levels for
the duration of the CD's term.
• Get out of town.
Bypass your local bank and shop around for the best deals. Check the
list below or go to bankrate.com for top CD rates, often found at
Internet banks or out-of-state institutions.
Short-term yields should continue to rise, at least through year-end.
Experts remain mixed about whether and when longer-term rates will
08-18-2005, 09:52 AM
Have you been to Bank Rates CD site?
08-18-2005, 10:20 AM
Thanks, both, for the help. It's getting 3% now (3 month cd) ... off to check out bankrate.
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