As featured in The Wall Street Journal, Money Magazine, and more!

Posts tagged as:

cds

   

ING Direct Offers “Added Value” Certificate of Deposit

by Flexo on October 19, 2009. Saving 1 comment.

In an effort to attract more new deposits, ING Direct is offering a new savings product with a high interest rate, the “Added Value” certificate of deposit (CD). If you are willing to deposit new money to ING Direct and let the bank hold that money for one year without any withdrawals, ING Direct will ... Continue reading this article…

{ 1 comment }

   

How to Have $50 Million Covered By FDIC: CDARS

by Flexo on September 9, 2009. Banking 8 comments.

Most of us need only a fraction of what the Federal Deposit Insurance Corporation is willing to protect. For most people, the FDIC covers up to $250,000 per depositor. If you have up to $250,000 in a regular bank account offered by a typical bank that participates in the FDIC program, you’re protected against the ... Continue reading this article…

{ 8 comments }

   

Compound Interest is More Powerful Than You Know

by Jim on September 4, 2009. Banking 4 comments.

This is a guest article by Jim. Jim writes about personal finance at Bargaineering.com. You can also find him on Twitter (@bargainr) causing a ruckus. Consider two individuals trying to save for the future. John saves a hundred dollars a month into a magical investment that gives him 6 percent a year. After forty years, he ends ... Continue reading this article…

{ 4 comments }

   

How to Create the Ultimate Certificate of Deposit (CD) Ladder

by Flexo on July 31, 2009. Banking 3 comments.

If you are disappointed with the low interest yields offered by even the highest-yield savings and money market accounts, but you don’t want to tie your short-term cash in a riskier investment, consider certificates of deposit (CDs). CDs, however, generally carry penalties if you withdraw your cash before they mature. In other words, you invest ... Continue reading this article…

{ 3 comments }

   

SmartyPig Should Be Compared With CDs, Not Savings Accounts

by Flexo on July 6, 2009. Banking 5 comments.

I enjoyed Tom Dziubek’s discussion with Jon Gaskell, the CEO of SmartyPig, in the latest episode of the Consumerism Commentary Podcast. If you have a chance, listen to the part discussion in which they discuss SmartyPig’s interest rates. Tom asked how SmartyPig can continually offer high interest rates. Jon Gaskell intimated that SmartyPig’s restrictions ... Continue reading this article…

{ 5 comments }

   

EverBank’s Confusing Array of Interest Rates

by Flexo on July 2, 2009. Banking Add a comment.

I plan to open up an account with EverBank within the next week to take this bank for a test drive. I like what I see of EverBank’s interest rates, but I have to admit the structure is not as simple as I like to see. As of October 23, 2009 the savings product, “Yield Pledge ... Continue reading this article…

{ 0 comments }

   

Grabbing the Last of the 5.65 APY CDs

by Sasha on November 1, 2007. Saving 13 comments.

Now that the Federal Reserve Board lowered the interest rate, it looks like we’re seeing the last of the 5.3 percent APY savings accounts, which appear to be a dying breed. I personally expect even these to disappear shortly; after all, why offer rates in the 5s when other banks are touting rates in the ... Continue reading this article…

{ 13 comments }