Archive for January, 2009
Many online banks have not been offering higher interest rates for jumbo CDs with the exception of Capital One Direct Banking (Capital 1’s online bank). Here are the current jumbo CD rates from the Capital One website:
Jumbo Certificates of Deposit for Capital One Bank (USA), N.A.
Jumbo CD Rates (minimum deposit of $100,000)
CD Term
Interest Rate
Annual [...]
Citigroup ordered a brand spankin new $50 million dollar corporate jet 4 years ago and was scheduled to take possession of it this year. However there was pressure from President Barack Obama dissuaded the deal. Citigroup already received $50 billion dollars in federal bailout money. Even though they claimed that the bailout [...]
2009 is the year of the Earth Ox.
Those that are fortunate enough to receive red envelopes for Chinese New Year should consider investing their money this year. If you like to have 24×7 account access then electronic banking is the way to go. Lower overhead equates to higher interest rates for consumers. [...]
DollarSavingsDirect.com claims that their Online Savings Account has the highest savings interest rate in America. This is actually not hard to believe since they’re giving away such a great interest rate of 4.00% APY! This beats most certificates of deposit (even jumbo CD rates).
DollarSavingsDirect.com is actually the online branch of Emigrant Bank (Emigrant [...]
has one of the highest current online savings interest rates at 3.08% APY. This is a great place to invest if you want to make some money in interest while still having relatively instant access to your funds. It’s very easy to open an account online and there is no minimum deposit required [...]
I’ve created a little Flex app that calculates the amount of interest you can make given a certain certificate of deposit term length in months, APR or APY, and amount of initial deposit. Check it out: CD Calculator
Many banks have opted to have your certificate of deposit renew automatically upon maturity. Some banks, such as ING Direct, will even send you a notice in the mail to give you fair warning that your C.D. is maturing and that it is set to auto renew into the same term deposit. If [...]
CDARS, the Certificate of Deposit Account Registry Service, is a product that may be offered at a local bank. It is one way to reap the benefits of FDIC insurance with a large deposit. A bank that offers CDARS will give you one interest rate while they spread your money across many other financial institutions [...]
If you need instant access to your money then a certificate of deposit or online savings account may not be right for you. However you can still earn interest on money that is sitting in your checking account by considering one of the following bank investment products.
Electric Orange (from INGDirect) and Thunderbolt Checking (from [...]
Discover Bank (the same bank behind DiscoverCard) is offering the some of the highest current C.D. rates around. Here’s a look at their current certificate of deposit rates:
Term
C.D. Interest Rate
APY
3 months
1.25%
1.25%
6 months
1.74%
1.75%
9 months
1.99%
2.00%
1 year
2.47%
2.50%
1½ years
2.47%
2.50%
2 years
2.96%
3.00%
2½ years
3.01%
3.05%
3 years
3.30%
3.35%
4 years
3.49%
3.55%
5 years
3.73%
3.80%
7 years
3.93%
4.00%
10 years
3.93%
4.00%
There is a minimum deposit requirement of $2500 to open a new CD [...]
Investing in CDs is a safe investment when an FDIC (Federal Deposit Insurance Corporation) bank is chosen for your electronic banking. The fed raised the limits of FDIC insurance to $250,000 through the end of 2009. If a financial institution that you are banking with fails, the FDIC insurance will protect your money [...]
ETRADE Financial is offering high savings account interest rates at 3.01% APY. This is actually higher than certificate of deposit rates at many other financial institutions. E trade’s CDs are only at 1.70% APY at the highest for their 5 year CD! Current online savings account interest rates are so much better [...]
GMAC Bank has 12 month bank CDs (1 yr cd rate) at 3.75% APY making their certificate of deposit rates highest right now. Countrywide bank by comparison has their 1 year CDs at only 2.10% Annual percentage yield. INGdirect’s 12 month CDs are at 2.75% APY.
1.00%
0.50%