CD Rates, best interest rates around here?

[tranger2]

My aunt has a little cash in her TD Ameritrade account which offers almost zero interest. Looking at investing in there CD's and found their rates to be 0.20% for 6 months and 0.45% for a year.

What is the best interest rate offered locally? I know they rates stink right now, but surely there has to be somewhere better than this.

 

[smokeyokc]

Not trying to be a smarta$$. But in these times the best way to double your money is to fold it over and put it back in your pocket. Personally I believe FDIC offers only a false sense of security. Some banks charge penalties for early withdrawal that range from 1 to 3%. It is a risk/reward ratio that quite simply is not worth the risk.

JMHO

 

[WWB]

Bankrate.com

 

[KOPBET]

Looking at investing in there CD's and found their rates to be 0.20% for 6 months and 0.45% for a year.

Geez, I get better than that in a regular savings account.

 

[Wheel Gun]

Unless you're just set on CDs, from that same Ameritrade account you could research some equities that pay a big dividend. She'd do much better from dividend payments than from CDs. And, of course, it's more liquid since you can sell stock whenever you want. There's more risk, but if you're after dividends and not growth, it's easily managed. That's my $.02.

 

[JaredC]

Ally online bank usually has the best rates or close, also the rates you get on regular savings accounts are usually the best as well.

 

[Shoot Summ]

Unless you're just set on CDs, from that same Ameritrade account you could research some equities that pay a big dividend. She'd do much better from dividend payments than from CDs. And, of course, it's more liquid since you can sell stock whenever you want. There's more risk, but if you're after dividends and not growth, it's easily managed. That's my $.02.

+1, I have several stocks that pay between 4% and 14% dividends with varying risk.

Some good ones are ATT, and MO, in my opinion.

 

[jrusling]

You can get 0.9% in a money market account if you have over $100,000 at the FAA Credit Union.

 

[zseese]

I don't know about CD's, but a lot of banks (mostly credit unions) have high yield checking accounts now like TFCU's which pays 3.25% ish a month and all you have to do is utilize debit card, online banking, and direct deposit, FAA Credit Union has a similar one that may actually pay more, don't know if this is a helpful answer but it's what I utilize while the markets are all down, otherwise for a good CD rate you will have to extend the time frame, saw USAA one that has 2.4% ish over 7 years...

 

[JD8]

You can get 0.9% in a money market account if you have over $100,000 at the FAA Credit Union.

Oh is that all?

FWIW, to the OP I get better rates using two online money markets. However, like others have said, most of my cash is in high yielding conservative stocks.