View Full Version : Bank CD and new term ????

Dave Lehnert
04-14-2010, 9:35 PM
Had a CD come due today at a local bank. As many may know rates are very low right now. To top thing off they now only offer 15 months as the shortest term available. Anyone see this happening at their bank?

Jim Rimmer
04-14-2010, 10:23 PM
We've been able to get 6 month and one year but the rate is REALLY low. Have you tried credit unions?

Chris Damm
04-16-2010, 8:18 AM
My CU is paying 2% on regular savings which is at least twice what CDs are paying.

Montgomery Scott
04-16-2010, 9:42 AM
I would never belong to a bank if there is the option to join a credit union. My CU has options from 3 months to 60 months, but the rates still suck now. At least there are no fees for regular banking transactions including ATM withdrawls.

Kevin Groenke
04-16-2010, 9:52 AM
I've been chasing reward checking accounts for a few years.

It can be a pain moving money around and ditching accounts when the rates crash (or a bank is closed by the OTS as happened recently).

BUT, I've consistently been earning more on these accounts that on any CD or other liquid accounts. Currently 4.5% and 3.5% at a local CU and a local bank.

Seeing $75+/mo in interest on these accounts monthly makes them well worth the trouble for me.

Jim Finn
04-16-2010, 6:45 PM
My bank here in Texas pays those low rates for savings and for cd's but pays me 3% for $ in my checking account! It was 5% two years ago.

Tom Winship
04-24-2010, 9:23 AM
You know interest rates are low when a bank will call a CD paying 2.65% four months before maturity. I had that happen this week.

Rich Engelhardt
04-24-2010, 1:30 PM
Give ING a try.

The "brains of the family",, AKA, my wife, has been stashing money into ING for a coule of years.

I have no idea how much she has in there, nor do I know what type of terms/rates she's getting.

Sign me - dumb, fat and happy & oblivious to what the financial department of our marriage is up to...

David G Baker
04-24-2010, 2:07 PM
Rich E,
Two wives and two lawyers later, I have found that it is wise to keep track of what goes on with financial department in a household. You snooze, you loose.

Mitchell Andrus
04-24-2010, 2:54 PM
Take the time to get aware. It took one of my bandmates a year to figure out what was where following his wife's sudden demise - and she wasn't hiding anything from him.

Mitchell Andrus
04-24-2010, 2:56 PM
ING is at 1.10. Not great, but pretty close to CPI.

Rich Engelhardt
04-25-2010, 7:34 AM
I know this sounds terribly naive on my part - however - when it comes to the financial part of the household (as well as our rental business), my wife has "all the right moves".
Anything I do to interfere usually results in some form of loss.

I'm fine with the "idea" side - such as finding the most lucrative offers/terms.
Where I fall flat is the follow through & the day to day drugery.
I was the one that suggested ING a couple of years ago, for instance. At the time, they had some sort of incentive going on.
I left the details of what funds to move up to her.

I do have a gross overall idea of how much we have and where it's all at....just not the immediate details.

Pretty much I have my paycheck direct deposited, her's goes right into her credit union account & the rent monies go towards paying off the note on the last rental we bought.

W/ever I want or need something, I pretty much just ask her - in a telling sort of way - that I'm looking around for X. She either gives me the thumbs down, the go ahead or tells me to hold off until ...(some future time).

On a side note - there's another thread about "Advice to future husbands" going on. I think both of these threads are related.

One of the, if not THE, biggest stumbling blocks to marriage is arguing over money.
While we still have arguments over money,,,,,LOL!,,,it helps a lot to know you're "dead meat" going into such an argument ;).