CD Archives

By Jim CramerWall Street scandals are starting to feel like Groundhog Day. It seems every day we wake up and another thunderbolt comes hurtling from the sky. First Lehman Brothers fell, Merrill Lynch was sold, and then Indy Bank collapsed. Right on the heels of those scandals came Bernie Madoff and his profit-gutting pyramid scheme. Read more»

By BankingMyWay staffAre you looking for regular income from your investments, along with a strong dose of safety? If so, a CD ladder might be the right choice for you. There are plenty of reasons to set up a CD ladder -- a series of certificates of deposit with different terms set to mature at regular intervals. It can provide a guaranteed income stream, along with the security of FDIC insurance, so there's no risk of losing your money. Read more»

by Jim CramerLast week I wrote about the benefits of working with smaller banks. Mostly, I talked about the advantages of face-to-face customer service, the opportunity to negotiate lower fees, and increased odds of getting better deals on bigger loans for things like cars and real estate. Read more»

By BankingMyWay Staff Interest rates play an important role when deciding where to borrow or invest your money. But interest rates often show up in two ways: an annual percentage rate (APR) and an annual percentage yield (APY). Not sure what means what? Here's the difference between the two and how they're typically used. Read more»

by Debra Borchardt As many larger players sweat the details of the next phase of the government's bailout efforts, several regional banks that have better weathered the storm look more worthy of saving. Read more»

By BankingMyWay Staff One of the major drawbacks of certificates of deposit (CDs) is that you can’t get to your money until the CD matures. So a CD that allows you to withdraw your money early, without fear of penalty, would be an easy choice, right? The problem is, deciding between a no-penalty and a conventional CD is a bit more complicated than it might seem. Read more»

By BankingMyWay Staff The Federal Reserve, in a statement Wednesday, said it planned to keep interest rates at "exceptionally low levels for some time." While that's good news for the economy, it's not necessarily the best news for your savings account. It may be time to revisit where you are keeping your money.  Read more»

By BankingMyWay Staff Holding money in a low-interest account can put your cash at risk of losing value to inflation over time. But inflation isn't rising right now. Prices are falling. The advent of deflation changes how consumers need to look at their savings accounts. Read more»

By BankingMyWay Staff Certificates of deposit (CDs) tend to offer better interest rates than other types of deposit accounts. In exchange for the higher rates, you agree to leave your money alone for the term of the CD. But the spread between three-month CDs and money market accounts (MMAs) has narrowed, and short-term CDs now may not be worth the trouble. Read more»