Comments on: Best 12 Month CD Rates, February 2012

By: skylog

skylog — Tue, 23 Aug 2011 00:32:10 +0000

certainly a valid point, which i totally did not think about. i would still be inclined to leave my money in the savings account as i am not looking to put my money in a long-term cd at the moment anyway.

By: Flexo

Flexo — Mon, 22 Aug 2011 14:16:56 +0000

With the savings account, the rate could, and probably will, change. The CD rate may be lower, but it’s guaranteed for the whole term. The savings rate could drop below the CD rate. Thanks for the suggestion of adding a link!

By: qixx

qixx — Mon, 22 Aug 2011 13:40:09 +0000

Isn’t the ING Savings Account rate 0.95%. So you can lock in your money for less than if you leave it accessable?

Also Flexo it might be worth adding a note at the bottom with a link to one of your posts on CD Ladders.

By: skylog

skylog — Sun, 21 Aug 2011 23:08:46 +0000

if i buy CD’s from ING direct, what, if anything, would happen to those CD’s when they are finally sold to capital one? i am assuming that the rates/terms would remain the same. am i wrong to think this?

that said, man, the ING rates are horrid. it would seem the best option if you are already with ING is to just keep your funds in a savings account.

By: Flexo

Flexo — Sun, 21 Aug 2011 16:15:00 +0000

That’s the state of today’s economy. At some point, rates will be higher again… but the question will always be the relationship between savings interest rates (after taxes) and inflation. When interest rates are higher, inflation will be higher, too. Will the rates be above or below inflation? And how does inflation play into your own personal rate of inflation?

CDs aren’t really an investment, they’re more like a safe place to put money you might need after period of a year (or less, or more, depending on the term). Accept that your savings will probably lose money relative to inflation, and you’re in it for the safety.

By: Ceecee

Ceecee — Sat, 20 Aug 2011 21:34:55 +0000

Ugghhh, the rates are awful. ING used to have the highest rates, but no more. The 1.35% at Ally looks to be the best…and at least you can up it if they offer a higher rate during the term, which I doubt. Never thought I would see CD rates this low. Feel sorry for seniors wanting some safe and liquid income.

By: Stocksicity

Stocksicity — Sat, 20 Aug 2011 21:08:38 +0000

I was actually looking at Ally bank for a CD Account, mainly because of their no-penalty clause. Good to see they made the list.

By: Flexo

Flexo — Sat, 20 Aug 2011 18:24:47 +0000

Thanks for sharing your experience!

By: mp99

mp99 — Sat, 20 Aug 2011 18:16:01 +0000

I’m a big discover card fan….I was a discover bank customer for a few years, but I wouldn’t recommend them to anyone now. The bank (unlink their sister company [credit card]) has the WORST customer service, they are not easy to deal with and are not open to suggestions for improvement. They used to have the WORST website although I hear it is better now. One of my biggest complaints was that they said they HAD to mail me statements, no matter what I told them they had to do it. I asked about emailing them, I was told flat out by a supervisor (not a first level phone support) that they were a bank and had no intentions of emailing paperwork. I think they finally had to change their tune when other people started to complain too.

I switched to Ally and I do love my bank :) Talk about ease of use and friendly!