Certificate of Deposit?

[SOONER44EVER]

Who has the best interest rates on them right now. Any ideas?

[Breadburner]

Call your bank....

[SOONER44EVER]

Call your bank....

I did. 1.75% for a 4 year one. That sucks. Just wondering if you guys knew of anything better off the top of your head.

[ouleaf]

Interest rates on deposit accounts are generally pretty low right now. You might try looking for banks who's focus is more on retail/consumer banking. They tend to offer rates a few bips higher than banks that are more commercial and lending based.

Best thing would just be to call different banks and see what they are offering.

[SOONER44EVER]

Best thing would just be to call different banks and see what they are offering.

Man, I hate doing that.

[ouleaf]

I did. 1.75% for a 4 year one. That sucks. Just wondering if you guys knew of anything better off the top of your head.

Are you locked in at that rate for the whole 4 years? A lot of banks offer something called Step Up CD's. Where you are locked in at the current rate for the term of the CD and it can't go lower, but if rates do improve, then the rate on your CD moves up to the new rate.

[DIB]

CD rates at traditional banks are pretty low, right now. I would look at non-traditional banks for higher rates: Credit Unions, Online Banks (like Ally) or even some insurance companies.

[SOONER44EVER]

Are you locked in at that rate for the whole 4 years? A lot of banks offer something called Step Up CD's. Where you are locked in at the current rate for the term of the CD and it can't go lower, but if rates do improve, then the rate on your CD moves up to the new rate.

I don't know. I didn't ask about that. But I will. Thanks

[OUMallen]

www.lendingclub.com

[SOONER44EVER]

I called about 10 banks and credit unions. Not a single one knows what a step up cd is. I can't find anyone selling offering them online either. I want a long term one but don't want to be locked into a certain rate for 4/5 years.

[sooneron]

CDs are NOT the way to go right now.

[OUthunder]

Credit unions usually have better rates than local banks. Also, internet banks usually have the best but there are usually strings attached.

Good luck.

[2121Sooner]

CD rates at traditional banks are pretty low, right now. I would look at non-traditional banks for higher rates: Credit Unions, Online Banks (like Ally) or even some insurance companies.


Of course you would suggest a credit union since you are the the lead teller for one.



ZING!!! POW!!!! Bank smack rocks!!!!

[Caboose]

I called about 10 banks and credit unions. Not a single one knows what a step up cd is. I can't find anyone selling offering them online either. I want a long term one but don't want to be locked into a certain rate for 4/5 years.

USAA.com

[ouleaf]

I called about 10 banks and credit unions. Not a single one knows what a step up cd is. I can't find anyone selling offering them online either. I want a long term one but don't want to be locked into a certain rate for 4/5 years.

Sometimes called Bump-Up CDs as well.

[C&CDean]

Roth IRA.

YWIA

[Sooner_Bob]

Roth IRA.

YWIA


I need to quit procrastinating and start a couple of those . . .

[delhalew]

Roth IRA.

YWIA

Dude at my bank tried to talk me out of a Roth. That was day I decided not to have those conversations with him.

[DIB]

Of course you would suggest a credit union since you are the the lead teller for one.



ZING!!! POW!!!! Bank smack rocks!!!!

HOW DARE YOU?!?!?!?! At least my bank didn't have to take TARP money.

OHHHHHHHHHH SNNNNNNAAAAAAAAAPPPPPPPPPPP!!!!!!!!!!!!!!!!!!

[Lott's Bandana]

Roth IRA.

YWIA


Is that code for give the $$$ to you?

[cccasooner2]

I called about 10 banks and credit unions. Not a single one knows what a step up cd is. I can't find anyone selling offering them online either. I want a long term one but don't want to be locked into a certain rate for 4/5 years.

Also known as raise your rate CDs according to the commercial.

Not to be confused with
1) wanting a raise ASAP,
2) spending eight days at sea,
3) I can't remember the other one. Help please. Good commercial, reminds me of "How many marbles do I have in my mouth".

[pphilfran]

5 year treasuries are nearly 2.5%...though I wouldn't touch one with a 5 ft pole...

Investing in short term securities isa losing proposition...due to inflation at the end of the term they will be worth less than what you paid for them...

But...

We are in an increasing interest rate environment...best to stay very short term...

So...

Keep it short term and take the hit for a few years...

[cccasooner2]

OK, just saw it, 3)was watching my neighbors watch TV. God this gin is good.

[OutlandTrophy]

look at muni bonds before you look at a CD.

CD's are marginally better than a mason jar, a shovel and a backyard.