Rates Current as of Thursday March 11, 2010
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Choice Financial Almost the Best One Year CD Rate

Posted in December 8th, 2009
by admin in Bank Promotions

Choice Financial continues to offer one of the best short term certificate of deposit rates available in the national market.  Choice Financial is not often listed as having one of the best CD rates available.  The bank offers a certificate of deposit rate promotion that often slips under the radar because of the odd month [...]

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Best Bank Savings Rates October 29, 2009

Posted in November 3rd, 2009
by admin in Savings Account Rate Updates

The highest bank savings account rates dropped rather measurably for the week ending October 29, 2009.  The average of the top ten best bank savings accounts rates was down two basis points or 2/100 of a percent from the previous week.  The interest rate decrease brought the average yield down to 1.81% from 1.83% in [...]

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Savings Account Rates for the Week Ending October 16, 2009

Posted in October 20th, 2009
by admin in Savings Account Rate Updates

The best bank savings rates fell modestly for the week ending October 16, 2009.  The average of the top ten best bank savings account rates was down two basis points or 2/100 of a percent for the week ending October 16, 2009.
The highest savings account rate available nationally remained stable.  ShoreBank Direct continues to offer [...]

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Bank Savings Accounts and Bank CDs Bastion of Safety

Posted in October 11th, 2008
by admin in Tips

In these turbulent markets it would be prudent to position yourself  to be able to better ride out a bit of an economic challenge by reducing debt as much as possible and devising a spending plan that, even if it means some sacrifice, that allows for an increase in personal savings.  Banks are a bastion [...]

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High Yield Savings Account Online or Not

Posted in October 11th, 2008
by admin in Tips

Do the expansion of internet banking, many internet banks have offered high yield savings accounts to attract customers.  Because these banks will often have lower cost of operations, they are able to maintain these higher payouts or higher interest rates on certain online savings accounts and money market accounts.  The growth of these online banks [...]

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Savings Account, Money Market Accounts and CDs – Fixed or Not

Posted in October 11th, 2008
by admin in Tips

One advantage of a fixed rate certificate of deposit over a money market account, high yield savings account or bond mutual fund is that you know exactly what the interest rate will be over the term of the CD.  Most bank CDs are for a fixed rate and a fixed term.  Money market accounts, savings [...]

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CD Rate Updates

Certificate of Deposit Interest Rates March 8, 2010

According to this week’s survey of the top ten best certificate of deposit rates available nationally, performed by Selectcdrates.com, bank CD rates have now reached new lows for the year.  Bank CD interest rates were down for all terms or maturities again this week.  
The average rate for the top ten highest 6 month bank CD [...]

Bank Certificate of Deposit Rates February 22, 2010

It seems hard to believe that bank certificate of deposit rates could slide much lower, but the past week was in fact another down week for most all CD maturities.  The results of the selectcdrates.com weekly bank rate survey indicated that CD rates were lower across all terms with the exception of the long term, five year [...]

CD Interest Rates February 15, 2010

CD interest rates continued to slide further in 2010.  The average interest rate on bank CDs available nationally was down slightly on all maturities for the week ending February 12, 2010.  The rate activity among the best bank rates, however,was comparatively modest in light of the across the board drop in the average rates.
The selectcdrates.com [...]

Banking & CD FAQs

I closed an interest bearing account I had with my bank, but the bank did not pay me all the accrued interest that should have be due. Can they do this?
If you closed the account before the bank credited accrued interest, generally that interest is not paid out, this is known as forfeiture of interest. However, the bank must disclose this policy in the account agreement you received when you opened the account. Review your account agreement to verify your banks policy.
Why do longer term CDs pay a higher rate than the short-term CDs?
Many factors affect the rate paid on different maturity CDs. One significant factor is inflation. Inflation expectations generally result in longer interest rates being higher than shorter-term interest rates. Creditors want to be compensated for the use of their funds plus a sufficient return to compensate for the erosion of their purchasing
Why do longer term CDs pay a higher rate than the short-term CDs?
As a rule, in financial markets, the longer money is being used or provided by a borrower or a lender, respectively, it is going to carry a higher rate of interest. We generally think of banks as lenders, but, obviously, for a bank to lend money it must obtain funds to perform this function.
How are Internet banks regulated?
The way an “Internet bank” is regulated depends in large part on the type of institution it is. Some Internet banks are Internet sites on which customers of “bricks-and-mortar” depository institutions can access transaction services. Other Internet banks operate only through the Internet (”Internet- only”). The Federal Deposit Insurance Corporation (FDIC) monitors
National Averages
CD Rates, Bank Rates,
Fund Rates and Key Rates
6 Month CD Rates
1.29%

1 Year CD Rates
1.67%

2 Year CD Rates
2.10%

5 Year CD Rates
3.22%

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Money Market Act. Rates
1.33%

Savings Account Rates
1.47%

Money Market Fund Rates
3.11%

Tax Exempt Fund Rates
2.39%

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Bank & CD Tips

Compare and Choose Banks, CDs and Services Based on Your Needs
When choosing the best bank for your needs you need to find a bank that is convenient, pays a competitive yield, and provides you with the service and products you need.  Start by evaluating exactly what your needs are from a bank.  From here you can review the different bank products from checking accounts and overdraft protection to
Bank Rates and Bank Fees Maximize Savings Plans
Maximizing a savings plan by increasing returns and reducing costs with your bank is a prudent start to a building financial security.  Maximize the returns by searching for the best savings rates, money market rates and CD rates available.  Reduce costs by monitoring bank fees and reducing or eliminating fees by switching bank accounts for
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