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C.D. came due today!

January 28th, 2011 at 08:41 pm

I had a c.d. come due today. I remembered how disappointed I was last year that it only paid 1.99 interest. Today they were offering .0065.!
I checked all of the local banks and the highest was a money market account offering .009. So, I opened a new money market account at my old bank. I will have 3 more c.d.'s coming due in February, so I guess I will put that money in the new money market. ING is paying .011, so I will transfer some money back to them. Boy, that 3-5% interest sure had me spoiled. I want the good old days back!

Posted in saving | 4 Comments »

4 Responses to “C.D. came due today!”

  1. Single Guy Says:
    January 28th, 2011 at 09:14 pm 1296249267
    1296249267

    I'm taking out my money to pay off the mortgage and will use my maturing CDs to buy a car I need. After that (this fall?), I am going to probably open a brokerage account and buy stocks that give out 2-4% dividends. Yeah, the stock price can go up and down, but if you're holding long term, why in the world should you save money in a bank today? The government says we don't save enough, and when we start to save they loan money to the banks for free, so the banks have no reason to pay out interest. The financial situation in the country is all messed up right now, thats for sure.

  2. Savings Queen Says:
    January 28th, 2011 at 10:02 pm 1296252172
    1296252172

    I'm with you Julie. When we bought our first home 25 years ago the interest rate was 14.75% but CDs were paying 12-13%. That meant a retiree could live fairly well on a relatively small amount of money. The CD situation is dismal!

  3. Aleta Says:
    January 28th, 2011 at 11:12 pm 1296256343
    1296256343

    I know what you mean. I'm staying with Ally Bank. Since I'm a former customer they will add .25 to the rate they offer. They also will look 10 days before your CD maturity and 10 days after and will give you the highest rate. We just had a CD mature Jan 13th. that we bought for our granddaughter. I renewed it at 1.29 % for 12 mos and they gave me the .25 extra which made it 1.54%. Look into Ally. It's online. Good luck Julie.

  4. scfr Says:
    January 28th, 2011 at 11:19 pm 1296256780
    1296256780

    Capital One is still paying 1.1% on their Simple Savings account.

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