SPL_Josh Posted January 5, 2011 Report Share Posted January 5, 2011 Looking to get a CD. Probably just start off with 1 year. I would like to know what banks have a high percentage return. Also any advice from anyone who's delt with CD's. Quote Link to comment Share on other sites More sharing options...
Tractor Posted January 5, 2011 Report Share Posted January 5, 2011 If your just looking for a place to put money and safely earn interest for a year, try an online bank. They offer 4-5% interest savings accounts. The downside is you might have to switch banks once or twice throughout that time if they change their rates to basically nothing like every other bank. Many investors do this because it gives them a way to earn better interest than local banks offer and doesn't lock your money down completely like a CD. At this point even opening a mutual fund for one year and closing would yield far better than most any CD. Quote Link to comment Share on other sites More sharing options...
LJ Posted January 5, 2011 Report Share Posted January 5, 2011 most banks have like 1% for 1 year Quote Link to comment Share on other sites More sharing options...
Stallion Motorsports1647545491 Posted January 5, 2011 Report Share Posted January 5, 2011 most banks have like 1% for 1 year +1 Not much interest to be made with CDs right now. Quote Link to comment Share on other sites More sharing options...
evan9381 Posted January 5, 2011 Report Share Posted January 5, 2011 Not much on online savings last time i checked...ally had the best rates end of 08 when i opened mine, and it was like 1.8x% and now its like 1.2% Quote Link to comment Share on other sites More sharing options...
Tractor Posted January 5, 2011 Report Share Posted January 5, 2011 Not much on online savings last time i checked...ally had the best rates end of 08 when i opened mine, and it was like 1.8x% and now its like 1.2% Wow, its been awhile since I've checked anything. I've had my money in the market since Jan 09 at the low point. Quote Link to comment Share on other sites More sharing options...
evan9381 Posted January 5, 2011 Report Share Posted January 5, 2011 yeah...a guy on another forum always talked about online savings and he was getting high 4's or low 5's %, and by the time i finally had money to put into savings, it was below 2%, and had just gone down since then. but i guess i cant complain too much. i think on my <$10k savings ive earned about $120 or so, so its really free $ to me. Quote Link to comment Share on other sites More sharing options...
Guest 614Streets Posted January 5, 2011 Report Share Posted January 5, 2011 Not trying to be a dick but a CD is not really where I would look to get any real return on money unless its a huge amount of money and you are set on low yeild. Quote Link to comment Share on other sites More sharing options...
Forrest Gump 9 Posted January 5, 2011 Report Share Posted January 5, 2011 Exchange your money to Euro and put it in a safe deposit. I personally would buy gold, but it's tough because gold is at peak right now. Quote Link to comment Share on other sites More sharing options...
LJ Posted January 5, 2011 Report Share Posted January 5, 2011 back in the day you could get 6% cds and that is what the rich homies would do. Put 1.5 mil in 6% cds and made 90k per year Quote Link to comment Share on other sites More sharing options...
zeitgeist57 Posted January 5, 2011 Report Share Posted January 5, 2011 Look into what's called a Structured CD. These are FDIC-insured CDs, but the underlying investment is in stocks or commodities. Normally, they have a capped interest rate (8%) per year based on investment performance, but if the investments fall in value you don't lose anything (except the opportunity to gain interest). Annual or semi-annual interest payments, or some are interest-at-maturity. Quote Link to comment Share on other sites More sharing options...
copperhead Posted January 5, 2011 Report Share Posted January 5, 2011 ING Direct used to have ~4% interest on their savings accounts, but its dropped to damn near nothing. I don't know about any of the other online banks. Quote Link to comment Share on other sites More sharing options...
evan9381 Posted January 5, 2011 Report Share Posted January 5, 2011 http://www.money-rates.com/savings.htm about 2% is the max for online savings http://cdrates.bankaholic.com/?product=19&sort=14&go_button=Go 1.27 max - 1 yr 1.55 max - 2 yr 1.84 max - 3 yr 2.37 max - 5 yr Quote Link to comment Share on other sites More sharing options...
AWW$HEEET Posted January 5, 2011 Report Share Posted January 5, 2011 Exchange your money to Euro and put it in a safe deposit. I personally would buy gold, but it's tough because gold is at peak right now. LOL EURO You know their is a looming financial collapse of europe, right? I see what you are doing but gold would be better. Quote Link to comment Share on other sites More sharing options...
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