Author: Sol Nasisi on September 5, 2007
With it looking likely that the Fed is going to drop rates, now might be a good time to lock in decent returns with some moderate term CDs.
With many predicting that the Fed is going to lower the federal funds rate, now might be the time to lock-in a decent rate on a 1or 2 year CD. It’s possible the mortgage crisis could
When the stock market bubble popped in 2000, the Fed cut rates from 6.5% to a low of 1% and the yields on CDs and Savings Accounts went down with it. The average yield on a 1-year CD was only slightly above 1% four years ago, compared with yields of over 5.5% today.
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| Bank | Product Term | Interest Rate (APY) |
|---|---|---|
| Northern Bank Direct | 1-Year | 5.60% APY with $500 minimum |
| Finworth, a division of InsBank | 1-Year | 5.38% APY with $50,000 minimum |
| TotalDirect, a division of City National Bank of Florida | 1-Year | 5.35% APY with $25,000 minimum |
| Dollar Savings Direct, a division of Emigrant Bank | 3-Year | 5.00% APY with $1,000 minimum |
| First Internet Bank of Indiana | 3-Year | 4.66% APY with $1,000 minimum |
| IncredibleBank | 3-Year | 4.58% APY with $1,000 minimum |
| First Internet Bank of Indiana | 5-Year | 4.55% APY with $1,000 minimum |
| BMO Alto, a division of Bank of Montreal Harris | 5-Year | 4.50% APY with no minimum |
| Department of Commerce | 5-Year | 4.34% APY with $500 minimum |
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