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!


The other interest rates...
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

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