Comments on: 5% APY on 12-Month CDs! http://www.consumerismcommentary.com/2006/02/15/5-apy-on-12-month-cds/ A premiere personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Fri, 06 Nov 2009 05:34:21 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: jim http://www.consumerismcommentary.com/2006/02/15/5-apy-on-12-month-cds/#comment-1831 jim Thu, 16 Feb 2006 08:36:33 +0000 http://wp.consumerismcommentary.com/?p=879#comment-1831 If nothing else, do the ladder with $500 each to start. Plus, your money isn't stuck there forever (impossible to withdraw) so it's semi-liquid if you really do have a dire emergency... If nothing else, do the ladder with $500 each to start. Plus, your money isn’t stuck there forever (impossible to withdraw) so it’s semi-liquid if you really do have a dire emergency…

]]> By: Flexo http://www.consumerismcommentary.com/2006/02/15/5-apy-on-12-month-cds/#comment-1830 Flexo Thu, 16 Feb 2006 06:42:13 +0000 http://wp.consumerismcommentary.com/?p=879#comment-1830 That would be something for an individual to decide. If the money is just parked in a savings account but the individual has enough of an emergency fund to leave as cash, there would be no reason not to move the funds into a CD. If it's only $1,000 that's already sitting in a high-interest savings or money market account, it's probably not worth the effort. That would be something for an individual to decide. If the money is just parked in a savings account but the individual has enough of an emergency fund to leave as cash, there would be no reason not to move the funds into a CD. If it’s only $1,000 that’s already sitting in a high-interest savings or money market account, it’s probably not worth the effort.

]]> By: JR http://www.consumerismcommentary.com/2006/02/15/5-apy-on-12-month-cds/#comment-1829 JR Wed, 15 Feb 2006 23:09:33 +0000 http://wp.consumerismcommentary.com/?p=879#comment-1829 Is the (roughly) quarter-point in interest worth losing the liquidity of the savings and money market accounts? Is the (roughly) quarter-point in interest worth losing the liquidity of the savings and money market accounts?

]]> By: Ken http://www.consumerismcommentary.com/2006/02/15/5-apy-on-12-month-cds/#comment-1828 Ken Wed, 15 Feb 2006 21:05:41 +0000 http://wp.consumerismcommentary.com/?p=879#comment-1828 Happy to see VirtualBank finally getting back into the game with their 4.60% MMA. In addition to raising their MMA, they also raised their CD rates. Their 1-year CD is now 5.10% APY. The only bad thing is a $10K min. Even though their MMA rates have lagged before this, they've done a good job at keeping the CD rates competitive. That's the main reason why I opened a money market account last year. It makes it easy to fund the CD. With their high MMA rates, CD rates and a referral bonus better than ING, they're going to give ING, HSBC and Emigrant a run for their money. Happy to see VirtualBank finally getting back into the game with their 4.60% MMA.

In addition to raising their MMA, they also raised their CD rates. Their 1-year CD is now 5.10% APY. The only bad thing is a $10K min.

Even though their MMA rates have lagged before this, they’ve done a good job at keeping the CD rates competitive. That’s the main reason why I opened a money market account last year. It makes it easy to fund the CD.

With their high MMA rates, CD rates and a referral bonus better than ING, they’re going to give ING, HSBC and Emigrant a run for their money.

]]> By: Will Kirby http://www.consumerismcommentary.com/2006/02/15/5-apy-on-12-month-cds/#comment-1827 Will Kirby Wed, 15 Feb 2006 19:52:36 +0000 http://wp.consumerismcommentary.com/?p=879#comment-1827 Jim's right - it is a tough first step. I've been a little weary of CD's because i'm trying to stay reasonably liquid, but 5% makes these CD's rather tempting. Jim’s right – it is a tough first step. I’ve been a little weary of CD’s because i’m trying to stay reasonably liquid, but 5% makes these CD’s rather tempting.

]]> By: jim http://www.consumerismcommentary.com/2006/02/15/5-apy-on-12-month-cds/#comment-1826 jim Wed, 15 Feb 2006 18:36:14 +0000 http://wp.consumerismcommentary.com/?p=879#comment-1826 The pain is all in the first step of the ladder, once you start the laddering of CDs process it's not as bad to put money in. Coming up with $5,000 for one step of the ladder can be a little much though. :) The pain is all in the first step of the ladder, once you start the laddering of CDs process it’s not as bad to put money in. Coming up with $5,000 for one step of the ladder can be a little much though. :)

]]>