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Certificates of Deposit (CDs)

ArteEtLabore14

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What banks are currently offering the best rates (shitty as they may be) and are they worth it as a relatively short-term investment with minimal risk?
 

XeF4

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They are the safest investment (FDIC insured) but you didn't even ask about the term you are looking for so I cannot answer your question.
 

Benzito

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Join the masses and put your money in a good bond fund. At least, until the economy starts cooking again and there are more reliable ways to get a decent return (or you want to get back into the stock market).
 

runner-guy

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Originally Posted by Benzito
Join the masses and put your money in a good bond fund. At least, until the economy starts cooking again and there are more reliable ways to get a decent return (or you want to get back into the stock market).
+1. I have most of our savings in a short-term municipal bond fund through Vanguard. Low cost, dividends grow tax free, and duration is less sensitive to increases in interest rates.
 

crosbyh

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Generally the best rates can be found with online banks such as ING, but the rates are abysmally low right now (approx 1.50 APY on a 36 month CD). That's a pretty high trade-off for liquidity, but virtually zero risk.
 

ArteEtLabore14

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Originally Posted by runner-guy
+1. I have most of our savings in a short-term municipal bond fund through Vanguard. Low cost, dividends grow tax free, and duration is less sensitive to increases in interest rates.

Can you give me some more info on this?
 

naprava

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What exactly are you saving for? Your rotting ass won't be stylish anymore by 60. I plan on already being 6 feet under.



You should too.
 

rjmaiorano

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Originally Posted by ArteEtLabore14
What banks are currently offering the best rates (shitty as they may be) and are they worth it as a relatively short-term investment with minimal risk?

No CD rate, long or short term, is worth it unless you go through a credit union as an armed forces member. As an example, recently a CU near me offered a 6mo CD @ 6% interest... that rate is unheard anywhere right now.

Stay away from them for now. In the short term (I don't know what you consider short term) liquidity is best if you want no risk. If you have a large sum of money then some banks will offer savings rates at par with CD rates.

As others have mentioned, knowing your $ goals and some more info can help us provide better answers.
 

ArteEtLabore14

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Originally Posted by rjmaiorano
No CD rate, long or short term, is worth it unless you go through a credit union as an armed forces member. As an example, recently a CU near me offered a 6mo CD @ 6% interest... that rate is unheard anywhere right now.

Stay away from them for now. In the short term (I don't know what you consider short term) liquidity is best if you want no risk. If you have a large sum of money then some banks will offer savings rates at par with CD rates.

As others have mentioned, knowing your $ goals and some more info can help us provide better answers.


I just want to make a little bit of extra money with cash that I have sitting around in a savings account. I want to be able to put it somewhere and not really have to worry or think about it.
 

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