As I suggested in this article, the best move is to buy CDs like mad below the FDIC insurance limit. While online CDs listed on the BestCashCow.com rate tables offer a significant yield pickup, even brokered CDs make sense here. Your money market choices these days are terrible. It is either 2.50% in a risk instrument - as shown by the Flex Fund markdown - or earn 1% in a treasury or muni fund (As some have noted on this site, government or muni money market funds are not entirely safe).

I also wanted to share my experiences. WaMu and IndyMac are very, very easy to open. Amtrust and Discover also worked very well. Corus Bank required a check, a copy of my drivers' license and a signature, but mailed me a return envelope so the process was smooth. Imperial Capital Bank had a lengthy delay in approval and required a money transfer. State Bank of India had a ridiculous application online so I have resisted the temptation of their rates, even if it is FDIC insured.

 

Submitted: Sep 17, 2008    Views: 291    Comments: 0    Likes: 1   


View Article: http://www.bestcashcow.com/savings_-_checking_-_cds/article/jrodger...


Related Articles:



1

Email this story Email to someone | Print Story Print Content | Add to reading list



Add Your Comments:

Your Name:

Spam protection control:


Financial products of all nature bear inherent risks and this website is not a financial advisory service; it is a forum for users to share and to compare notes and observations on financial publications. The website provides, free of charge, the technical and logistical apparatus and the medium for users to share and to publish financial information and to comment on publications. As such, the website’s operator can not and does not take responsibility for information, observations or opinions of any sort or nature provided by third parties with whom it is not affiliated who use the website to publish, to comment or as a means of solicitation. Users are specifically warned against following any advice related to specific instruments, including, but not limited to, equity securities, that may be provided by other users directly on this site or on web pages to which other users have provided links on this site. BestCashCow.com can not and does not check or verify the qualifications and credentials of users who publish or comment on this site or on linked pages. Users should seek personalized advice from qualified professionals regarding all personal financial issues and evaluate the risks and applicability to their own circumstances of each financial product discussed regardless of who the publisher is or purports to be. Should you, through your use of this site, identify an individual or organization purporting to offer personalized advice, you bear all responsibility to ensure that the individual or organization has the qualifications that they may represent on the website, and that their advice is appropriate for your circumstances. On certain webpages, BestCashCow.com provides information related to rates on US-based savings accounts, CDs, short-term government bonds, and other US cash equivalent securities, also free of charge to internet users for their independent use. The accuracy of this information is not guaranteed, and the information, like all other information on this website, should not be construed to provide investment advice, nor to endorse a financial product of any sort.

© 2007 BestCashCow.com, LLC. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy.