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08-29-2009, 05:59 PM
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13,969 posts, read 12,944,390 times
Reputation: 5293
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I just got off B of A's website checking their CD rates for a liquid CD where someone would deposit up to 250,000, (but not more, if they had any brains, because of FDIC limits), and the bank is paying a paltry 0.75%--three-quarters of a percent!!!! 
Why aren't depositors just telling banks to go f*&^ themselves and take their money elsewhere besides these crooked banks?
Last edited by thrillobyte; 08-29-2009 at 06:11 PM..
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08-29-2009, 06:41 PM
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8,648 posts, read 16,001,533 times
Reputation: 4595
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Money markets are just as bad... I'm thinking about planting my money in the backyard and see if it grows any faster...
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08-29-2009, 06:46 PM
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13,969 posts, read 12,944,390 times
Reputation: 5293
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At least there's no danger of your backyard filing chapter 11!
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08-29-2009, 07:58 PM
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Location: Great State of Texas
86,068 posts, read 76,966,493 times
Reputation: 27653
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I have my money at a credit union..something like 1.40% on a MM.
Not great but better then the commercial banks. Thank the Fed for keeping rates so low.
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08-29-2009, 08:05 PM
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16,308 posts, read 26,184,010 times
Reputation: 8325
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My credit union is 1.75 on regular savings, 2.02 on money market, even my checking pays 0.75%.
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08-29-2009, 08:18 PM
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1,009 posts, read 3,777,956 times
Reputation: 760
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Quote:
Originally Posted by thrillobyte
deposit up to 250,000, (but not more, if they had any brains, because of FDIC limits)
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. . through December 31, 2013 (unless extended by Congress). |
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08-29-2009, 08:20 PM
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Location: Near the water
8,229 posts, read 12,192,888 times
Reputation: 3892
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convert to gold?
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08-29-2009, 08:48 PM
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Location: Portland, Oregon
7,090 posts, read 11,199,672 times
Reputation: 4118
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Yeah, some banks are terrible. I find online banks and credit unions to have the best rates, but they always dance around. You can use bankrate.com if you really want to watch it like a hawk. It could be worse, even at the highest rate my own bank has a 0.20% interest rate.
One thing I wouldn't do is buy precious metals, they are high but when you see it rising more then 3 times in the last 4 years there's something not right. It did the same in 1980 to come back down, which if you bought near a similar high then you would have lost 50% of your investment. What will happen who knows, but it looks very similar to the graphs of a number of bubbles (housing, oil, tech stocks) and you don't buy high to make money.
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08-29-2009, 09:04 PM
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Location: Sierra Vista, AZ
16,708 posts, read 22,083,499 times
Reputation: 8974
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Quote:
Originally Posted by Chromekitty
convert to gold?
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Gold is a loser, I know people who are still trying to break even from 30 years ago. Any time Russia or South Africa get in trouble they dump gold.
As for B of A, I figure that to retire with my money there I need $60,000,000 |
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08-29-2009, 10:04 PM
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Location: Southwest Nebraska
1,297 posts, read 4,354,125 times
Reputation: 908
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I just received some backpay of 10,000.00 and told wife to open a savings account for it. She came out of our bank (Regions) and said the lady talked her into a money market and said it paid way better interest.
I thought wow how much, but she did not know. When we got home we checked online and it was a whopping .15% and if we got below 2500.00 we would be charged monthly fees.
It won't stay for long since it is for buying a house.
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