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Started By
Message
3 month CD yielding 3.75%...
Posted on 12/2/08 at 11:54 am
Posted on 12/2/08 at 11:54 am
Thinking about doing it with money I have sitting in a money market. Never invested in a CD before. Besides the fact that you can't take the money out before the end date without penalties, is there any reason I shouldn't do this, assuming I wouldn't need the cash during the 3-month period.
3
Posted on 12/2/08 at 12:01 pm to Chicken
Um, where the hell are you getting that rate?
Posted on 12/2/08 at 12:20 pm to Tiger JJ
quote:Why? Is it low?
Um, where the hell are you getting that rate?
Posted on 12/2/08 at 12:28 pm to Chicken
that is very good for a three month cd now
Posted on 12/2/08 at 12:40 pm to Chicken
quote:
Why? Is it low?
No. It's so high that it makes me assume the issuing institution is desperate for deposits and is about to go under.
Posted on 12/2/08 at 12:43 pm to Chicken
Chicken the average is probably around 2% right now.
Posted on 12/2/08 at 12:57 pm to Cash
quote:
Chicken the average is probably around 2% right now.
Even that sounds high. Fed funds is like 1% and 6 month tbills are 45bps.
Posted on 12/2/08 at 1:00 pm to Cash
That's 325 bps wide to the t-bill man, that's insane.
Posted on 12/2/08 at 1:01 pm to Tiger JJ
quote:
Chicken the average is probably around 2% right now.
Even that sounds high. Fed funds is like 1% and 6 month tbills are 45bps.
You to make me look into it didn't you.
Anyway I checked the 3 month CD's that are available for sale through TD Ameritrade. Not all inclusive but gives me an idea of the market. The average of those available is about 1.85%. Still in the neighborhood of 2% though.
Posted on 12/2/08 at 3:34 pm to Chicken
I got almost that good a rate a few weeks ago from Wells Fargo - it was an introductory rate. When the CD rolls over it'll be at their existing market rate.
Posted on 12/2/08 at 3:49 pm to blueridgeTiger
My checking account has stated rate of interest at 4.9% with 5.01% APY. Requirements are minimum balance of $1000.00 and each month must have either one direct deposit or eletronic bill payment and then 15 debit card transactions and a signed authorization to not receive paper statements at month end. I meet these easy and viola you have a high yield money market account.
Posted on 12/2/08 at 4:03 pm to CHSBears
Hell, even GMAC is only offering 3.25%
Posted on 12/2/08 at 5:54 pm to CHSBears
Wow what bank is coughing up 5% for a checking acct?
Posted on 12/2/08 at 6:38 pm to CHSBears
quote:
My checking account has stated rate of interest at 4.9% with 5.01% APY. Requirements are minimum balance of $1000.00 and each month must have either one direct deposit or eletronic bill payment and then 15 debit card transactions and a signed authorization to not receive paper statements at month end. I meet these easy and viola you have a high yield money market account.
You can't give all those details and leave out what bank you're with.
Posted on 12/2/08 at 7:59 pm to TheChosenOne
Yeah what bank..........
And Chicken why not just open an INGdirect and your money won't be locked up.........it yields 2.75% and is one of the best banks I've ever dealt with. Great security, great site.
And Chicken why not just open an INGdirect and your money won't be locked up.........it yields 2.75% and is one of the best banks I've ever dealt with. Great security, great site.
Posted on 12/3/08 at 8:30 am to L S Usetheforce
alot of banks are offering high rates to attract depositors. go for it chicken. i have all my money right now locked in cd's .... you cant invest in land, stock market etc. its the best thing going....
Posted on 12/3/08 at 8:53 am to Plucked
Sorry
CFCU (Campus Federal Credit Union).
CFCU (Campus Federal Credit Union).
Posted on 12/3/08 at 9:18 am to CHSBears
Marie Bartoromo (sp?) mentioned on Squawk Box that Home Safes are the hottest selling item in the US. Maybe its time to buy stock in a company that makes safes? Or maybe the safes are all made in China?
Which begs another question: Who would feel secure with a lot of money in a home safe?
Which begs another question: Who would feel secure with a lot of money in a home safe?
Posted on 12/3/08 at 9:25 am to Rivers
quote:
Who would feel secure with a lot of money in a home safe?
You kidding me.......a safe in a hiding spot in my house. Me and my wife and dog, 2 shotguns, a 7mag, and a a set of henckel knives......I definetly have been putting 50 bucks a paycheck in a safe.
I'd have to say you can thank our famous Wendy's manager for that safe.
This post was edited on 12/3/08 at 9:27 am
Posted on 12/3/08 at 1:34 pm to CHSBears
Hell of a deal.
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