Personal Finance Blog By MoneyRates - Best Cd Rates

Bank customers choosing savings and money market accounts over CDs

September 14, 2010

Amid the tough economy, consumers are keeping more of their cash liquid and less of it tied up in CDs, according to Market Rates Insight, a San Anselmo, Calif. market research firm for banks and credit unions. Although total security deposits dropped in the second half of 2010, deposits in money market accounts, savings accounts [...]

Unemployment, underemployment and interest rates

August 17, 2010

If you think unemployment is bad, consider the number of people who are underemployed. By Gallup's reckoning almost one in five people -- 18.3 percent of Americans -- either don't have jobs or are working part-time and want full-time employment as of mid-August. The research outfit's numbers are based on on more than 15,000 phone [...]

Declining Profit Margins a New Threat to Bank Rates

July 28, 2010

It's a delicate balance. Sometimes banks want to attract deposits in savings accounts, money market accounts, and CDs. Other times, those accounts can be almost a liability. According to a recent story in US Banker, now is one of the latter times, when some banks may actually shun new deposits. No, that doesn't mean you have [...]

Does Increased FDIC Insurance Ensure Low CD Rates?

March 30, 2010

In response to the banking crisis, the Federal Deposit Insurance Corporation (FDIC) raised the limits on bank deposit accounts from $100,000 to $250,000 per depositor, per bank. This move may have been pivotal in preventing a run on banks in America. Nevertheless, there may be a convincing argument to be made that the increase in FDIC [...]

Planning for Old Age Part of Planning for Retirement

March 23, 2010

Yahoo Finance ran an insightful, albeit somewhat morbid, article the other day talking about two major roadblocks to retirement wealth. Anyone over age 40 who has multiple bank accounts can benefit from reading this article. The first major roadblock outlined by the author of the article, Robert Powell, is Alzheimer's disease. The Alzheimer's Association reports that 5.3 [...]

Increased Demand for CDs On the Horizon

September 22, 2009

There is a lot of talk in the financial press these days about "cash on the sidelines." Usually, cash on the sidelines is mentioned as a reason why stocks will continue to rise as more buyers enter the market. But what if a lot of that cash goes into CDs? It's very possible. Cash on the Sidelines [...]

No Penalty CDs an Idea Whose Time Has Come

August 6, 2009

Back in the good old days, the best CD rates on a one year CD could reach 5 percent. Today, the best CD rates for a one year CD are in the range of 2.5 percent. However, there is one newfangled CD product that's better than the good old days: the no-early-withdrawal-penalty CD. Banks such as [...]

Time to Start "Going Long" on Certificates of Deposit?

June 24, 2009

The meetings of the Federal Reserve didn't used to be worthy of watching, but nowadays, the Fed is activist and consistently makes news. The biggest news to come out of today's Fed meeting may have flown under the radar a bit in all the hullabaloo about Bernanke seeing yet more "green shoots" in the form of [...]

When Will Inflation Expectations Lift CD Rates?

April 28, 2009

Recent economic releases have increased the optimism of some market analysts about the U.S. economy, although you may have to listen or read very carefully to find the good news. The glimmers of hope are hidden in phrases like, "the pace of declining home sales has slowed" or "growth was forecast to be worse than [...]

New Dominion Bank Variable Rate CDs

July 6, 2007

New Dominion Bank (FDIC# 57888) in Charlotte, North Carolina is offering variable rate CDs to individual investors via their website. The rate on each CD is tied to the current prime rate as printed in the Wall Street Journal.Current terms and APYs (annual percentage yields) for the variable rate CDs are:1-year 5.50% APY, $5,000 [...]