Get a financial ally on your side

I guess there’s a reason why Ally Bank chose its particular name: its above average-rates make the financial institution a true friend for today’s CD investor. And in today’s frustrating savings climate, you need a good pal in your corner if you’re going to actually accrue any real interest. Today, I’m offering an introduction to the range of CD offerings at the online-only bank.

High-Yield CD: While 0.99% on…

What are the benefits of brokered CDs?

If you’re in the market for a new certificate of deposit, I’m guessing you have been searching high and low for the best CD rates around. With rates so low, every basis point counts, especially if you’re locking away your money for long-term planning. While you can easily go to banks around the country and open…

Avoid jumbo CDs

If you’re comparing CD rates, chances are you’ve seen the word “jumbo” pop up during your online search. A jumbo CD is pretty much what it sounds like: a certificate of deposit with a jumbo-sized amount of cash. A standard jumbo CD requires a minimum deposit of $100,000. In today’s post, I’m going to take a…

CD laddering in two minutes

A simple way to understand CD ladders

Now, I know I’ve covered CD laddering before, but I found this great clip from Bill Gerhard, Director of Financial Services at AAA, that makes understanding a ladder very simple. Gerhard lists the benefits of the laddering strategy, which include:

Protection for low interest rates during an economic lull Easier access to higher CD rates…

How to find the best CD rates

If you’ve just stumbled upon my happy home on the Internet, you may be wondering why I spend so much time writing about CD rates. After all, today’s CD market features some pretty subpar earnings potential. However, I’m a firm believer that investing in CDs can still make for a sound financial strategy, depending on what you’re looking to accomplish. If you are looking for an investment with…

Online CDs at Ally

I’ve mentioned Ally Bank plenty of times on this blog, but Ally has a few more noteworthy CD rates you should know if you’re looking to put your cash in one of the most competitive CDs on the market. Ally is an online-only bank, which means you can’t drive downtown and walk into a branch. However, you can enjoy the higher CD rates your savings will earn when…

Ready to renew your CD?

With CD rates near all-time lows, there are plenty of smart savers wondering if renewal is right for them. If you invested in a CD five years ago, chances are today’s rates are significantly lower than when you opened your new certificate of deposit. Many banks will automatically renew your CD unless you tell them otherwise. That’s why it’s more important than ever to put that renewal date…

CD rates for your kids

While you may be searching for the best savings rates for your own deposits, you can also put your kids on the fast track to savings with a certificate of deposit. Now, I know CD rates are low, but investing in CDs is also low-risk and low-hassle.

There is one credit union based in Illinois that is hoping to…

Climb your way to bigger CD earnings

If you’ve been shopping around for CD rates, chances are you’ve already heard of a CD ladder. Laddering can sound complicated, but I’m here to tell you it’s an easy strategy that will help accelerate your CD savings. Essentially, building a ladder diversifies your maturities. Rather than throwing a whole heap of money into one CD, laddering allows…

3 reasons to shop for CD rates

I’m constantly hearing naysayers dwelling on the low CD rates currently available. Sure, it’s no secret that CD holders aren’t earning the returns they were five years ago, but that doesn’t mean everyone should abandon CD investing. Here are three reasons I think CDs still provide appealing benefits to the public.

Predictability is good

I have plenty of…