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Old 01-06-2016, 07:37 AM
 
Location: Ponte Vedra Beach FL
14,628 posts, read 17,920,408 times
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Here's another website:

Bank Interest Rates

Robyn
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Old 01-06-2016, 07:43 AM
 
Location: Ponte Vedra Beach FL
14,628 posts, read 17,920,408 times
Reputation: 6716
Quote:
Originally Posted by rjm1cc View Post
Look for CD's from a few on line brokers and most likely on line banks.
Read the fine print. If you cash in early you probably lose 6 months of interest. Some might even be a year. But if you think of keeping your cash in the bank for 5 years or getting a 5 year CD and cashing it in at the end of 3 years for some reason you are still ahead. Point is you may want 3 to 5 years or maybe all 5 years. The key is to keep the amount of each CD small so you do not have to cash in your total dollar amount.
"Brokered CDs" don't work the same as "bank CDs". You can't "cash them in" early. If you need your money before maturity - you have to sell them on the secondary market. Where you will take a "haircut" (perhaps 3-5%). They really are buy and hold to maturity investments.

Bank CDs versus brokered CDs | Bankrate.com

Note that basically all brokered CDs have "death puts" (when the owner dies - you can redeem them at par). Robyn
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Old 01-06-2016, 10:32 AM
 
Location: Charleston, SC
1,362 posts, read 765,336 times
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Sara --

You may also want to take a look at Barclay Bank, if you don't need to draw down this money. Check out their Dream Savers Account -- it has some kickers that increase the APY nicely.
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