CD Rates for July 2008
2008-07-22 13:42 - General
I've been quite happy with my "direct" savings accounts for a while, a decent (compared to the rest of the market) interest rate while maintaining total liquidity. But they've sagged recently. It's starting to look more and more like investing in a CD is a good idea. Some offer short terms that maintain most of the liquidity of the savings account. But how good are the rates?
| Less Than One Year | ||
|---|---|---|
| Length | APY | Bank |
| 9 mo | 3.75% | GMAC |
| 9 mo | 3.76% | AmTrust Direect |
| 8 mo | 4.25% | WaMu |
| One Year | ||
| Length | APY | Bank |
| 12 mo | 4.05% | GMAC |
| 12 mo | 4.15% | AmTrust Direect |
| 12 mo | 4.25% | WaMu |
| One to Two Years | ||
| Length | APY | Bank |
| 18 mo | 4.25% | AmTrust Direect |
| 24 mo | 4.30% | GMAC |
| 24 mo | 4.31% | E-Loan |
| Over Two Years | ||
| Length | APY | Bank |
| 60 mo | 4.50% | WaMu |
| 36 mo | 4.55% | E-Loan |
| 48 mo | 4.70% | GMAC |
| 48 mo | 4.75% | Capital One Direct |
| 60 mo | 5.05% | GMAC |
| 72 mo | 5.30% | Capital One Direct |
Pretty good, compared to online savings accounts. HSBC Direct is now giving me only 3.43% APY, (though they advertise 3.50%) and ING Direct only advertises 3.00%. That 8 month from WaMu seems especially good. Subject to change at any time, I'm sure, so I'll have to think and pick quick!
2008-07-28 12:38 - CharlesMerriam
For us in Santa Clara County, there are various banks competing for extra deposits. BofA is offing some 4% 7-month commitments. The real hits are the 'new account bonuses'. I have coupons from StarOne that give $25 bonus on a $25 account, or $50 on a $10,000 account. They only offer a base rate of about 3.05%, but with your new account that bonus that comes out a 103.05%.
Life is fun. Charles Merriam, charles.merriam@gmail.colm