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Old 02-22-2009, 06:10 AM
 
Location: Middle Creek Township
2,036 posts, read 4,397,317 times
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Quote:
Originally Posted by Janecj View Post
I have one with Wachovia at 4.5% - one year.
Is that still available? I am not liking the big banks, but that is quite a difference in interest.
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Old 02-22-2009, 08:16 AM
 
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Don't forget to do Internet searches on places like bankrate.com and fool.com and other financial websites just to get a feel of what all is out there.
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Old 02-22-2009, 01:49 PM
 
9,680 posts, read 27,167,824 times
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Be sure all banks are FDIC insured or credit unions are NCUA insured.
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Old 02-22-2009, 02:03 PM
 
Location: Middle Creek Township
2,036 posts, read 4,397,317 times
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I have been doing a search and the rates are pathetic.
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Old 02-22-2009, 02:19 PM
 
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I saw a few ads for local banks in N&O this morning...they were 5.5 for 3 mos only.
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Old 02-22-2009, 03:05 PM
 
207 posts, read 643,264 times
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I also looked at rates last week. They have dropped off of a cliff in the past couple of months. Many were around 2% and they seemed to top out around 2.5% for the national banks. The most attractive alternative that I found was just keeping it in HSBC Direct, which is carrying a 2.25% interest rate on its online savings account. That may still drop further, but at least it's liquid.

Inflation protected treasuries (TIPS) are also an option if you are concerned about inflation. Now may be a decent time to buy them given that the Fed is concerned enough about deflation to maintain zero percent interest rates.
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Old 02-22-2009, 04:37 PM
 
Location: Melbourne, FL
1,007 posts, read 5,664,793 times
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Quote:
Originally Posted by Charlton Dude View Post
Is that still available? I am not liking the big banks, but that is quite a difference in interest.

Don't know I'm afraid. I thought I saw something in the paper with a place named Interstate.. or something like that and their interest rates on CDs looked pretty high (considering). They are FDIC insured. Just can't remember the name but I was reluctant because I never heard of them.
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Old 02-22-2009, 05:58 PM
 
Location: Middle Creek Township
2,036 posts, read 4,397,317 times
Reputation: 532
Quote:
Originally Posted by Janecj View Post
Don't know I'm afraid. I thought I saw something in the paper with a place named Interstate.. or something like that and their interest rates on CDs looked pretty high (considering). They are FDIC insured. Just can't remember the name but I was reluctant because I never heard of them.
I saw 2 ads for such things in the paper today. They are insurance companies that somehow offer FDIC insured CDs. Sounds fishy.
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Old 02-22-2009, 06:49 PM
 
17 posts, read 27,449 times
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try I Saving bond on treasury direct.
I think it is over 5% now.
You can only buy max 5000/year though
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