Hi guys, I need a short term investment and I was looking into CD's. Wamu has GREAT rates in my opinion. I've checked Wells Fargo and Chase. Are these rates good? These are Wamu's CD rates: Terms (Months) Interest Rate* Annual Percentage Yield (APY)* 1 - 3 1.09% 1.10% 4 - 7 2.18% 2.20% 8 4.55% 4.65% And this is for a minimum deposit of $1,000. I won't need it for very long, 9 months maybe.
Wachovia Bank - September Promo 5.35% APY 6 month CD minimum $5000 I can email you contact info if you are interested.
Yeah I heard about the ING Orange Savings acct.... like 5.5% interest.... but does it require a minimum balance? Im brand new to the whole online ONLY banking like w/ ING.
no minimum balance. And right now the interest rate is at 4.3%... but not too bad considering you'll have access to your money at any time. Very little loss compared to the 4.5% you were quoting..
I just got an online savings with WAMU that started out right at 5% and it's the best thing. My APR is about 4.89 right now and i can move my money around all i want. Don't understand why people still get CD's and stuff when all these Savings accounts are around.
I opened an online savings at WAMU last month. The wierd thing is that I earned interest a week after opening, but haven't since. Doesn't the interest pay out biweekly?
Well I went into Wamu today and tlaked with a lady, she said you really dont make that much on a savings account unless you have a lot in there. The savings account % changes like hourly though.
I have an online savings account with ING Direct. Interest rate right now is 4.3% and no minimum balance. You can also get a 6, 9, or 12 month CD right now with them at 4.9%, and there is no minimum balance.
Well it will be the same if not higher % that a CD but with a CD you can't take your money out to get the full yield. At least this way you can pull your money out anytime you want. The money you make on an account is always relative to the amount you have in their. My rate is right at 4.89
Johnson Space Center FCU (in Clear Lake) www.jscfcu.org Minimum balance of $500 6 months 4.9 5.01 12 months 4.95 5.06
I don't even know why CDs still exist. At best the return they give you is barely above inflation rate. And you can get the same or better by simply opening a high yield savings account. Do yourself a favor and erase that term from your vocabulary.
The Fed just cut rates. If they continue cutting rates, and you had bought CD's that you locked into at a particular rate, you'd get that rate until the CD's maturity. In the meantime, the Fed's rate cuts (and predicted future ones) are going to bring down those high yield accounts' APY even more. Good luck finding a 5%-yielding high yield account in a few months. I played this gamble a few years ago and locked into an 7-8% CD for 2 or 3 years while savings/MMA rates dropped to I think 1-4%, I think. My parents did something similar, but they made out like bandits back in the 70's or 80's when CD's were returning double-digits.
I have a special VIP account w/ my employer (Voluntary Investment Plan)... its explained to me as a really good savings account. All this talk about the great rates Washington Mutual has on its savings accounts, makes me wonder if this VIP program I am in is really better then Wamu. I currently have a Wamu savings but nothing in there. I put all my money in this VIP account because its suppose to be better. Can't find the interest rate anywhere though!?!
dr of dunk is right, rates just got cut. as jeoparde suggested, i would open a high yied online savings account with hsbc (5.05% APY) or ing (4.3% APY), that way you wont have the restrictions on withdrawing your money. i have a few CDs with ING when the rates were in the 5.35-5.55% range. i dont think we'll be seeing those numbers in the near future cuz rates are going down down down.
I am new to all the investment stuff. Anything yield closer to 15-20% Of course I know it be risky as hell, but I am willing to gamble a wee bit.
