Best CD Rates for May 2007

Kirk

Posted: May 9, 07 11:02am

I updated my "Best CD Rates" page to reflect my May 2007 Survey

URL http://home.netcom.com/~fanclubs/BestCDRates/index.html

FNBO Direct has a special 6.0% savings rate good through 9/28/07 which is like a 6% 5Month CD.

http://home.netcom.com/~fanclubs/BestCDRates/FNBODirect.html

For under 1 year, the best rate is 5.41% at World Savings and Countriwide http://home.netcom.com/%7Efanclubs/BestCDRates/WorldSavings.html

http://home.netcom.com/%7Efanclubs/BestCDRates/CountrywideBank.html

For the 1 to 7 years, Security Savings Bank has a 5.55% 17 month CD

http://home.netcom.com/%7Efanclubs/BestCDRates/SecuritySavingsBank.html

While Netbank and World Savings will give you 5.20 and 5.14% for up to 7 years

http://home.netcom.com/%7Efanclubs/BestCDRates/NetBank.html

Definition: A Certificate of Deposit or CD is certificate from a bank stating that the named party has a specified sum on deposit, usually for a given period of time at a fixed rate of interest. Often there is a penalty for early withdrawal (taking your money out before the specified period of time.)

3 Comments // 2 Members

Posted: May 9, 07 11:23am

I updated my "Best CD Rates" page to reflect my May 2007 Survey

URL http://home.netcom.com/~fanclubs/BestCDRates/inde...

Currently Citibank is offering two savings accounts with fairly high interest rates (4.5% & 4.65%). You have to open the accounts online. While these rates are lower than the CDs listed above, they are regular savings accounts so you don't get penalized for withdrawing your money at any time, and there are no minimum balances.

Posted: May 9, 07 11:42am

Currently Citibank is offering two savings accounts with fairly high interest rates (4.5% & 4.65%). You have to open th...

Thanks but why would I want a 4.65% savings account if I can get 6.0%?

FNBO Direct has a special 6.0% savings rate good through 9/28/07

http://home.netcom.com/~fanclubs/BestCDRates/FNBODirect.html

HSBC pays 5.05%

http://home.netcom.com/~fanclubs/BestCDRates/HSBC.html

and I have my money at Vanguard which pays a 7 day rate of 5.10% which works out 5.22% APY

See http://home.netcom.com/~fanclubs/BestCDRates/Vanguard.html

Posted: May 9, 07 1:14pm

I updated my "Best CD Rates" page to reflect my May 2007 Survey

URL http://home.netcom.com/~fanclubs/BestCDRates/inde...

I was just putting it out as another option. Sure, Kirk, you personally might not be interested in these accounts, but there may be Citibank customers (like me) who want to stick with their bank but aren't aware of these online-only options.

Also, I didn't realize the FNBO Direct option you posted was a savings account - I thought each item you listed above was a CD and therefore subject to early withdrawal penalties, which some people might not want to deal with.