Latest responses to “Best CD Rates For High Yield Certificate Of Deposits” Copyright 2012, MoneyBlueBook.com 401570 2009-12-20T16:48:30-08:00 Johnathan I have a friend who just liquidated one of her CDs. She found a local real estate rehab/repair company who pays 11-15% on funds up to 1 year. They find cheap foreclosures in good neighborhoods and update and modernize them. What she liked the best is her money is secured with a house that is worth 2x what she lent and the cashflow and growth from the money seems a no brainer. We were a little on the fence too until we started seeing the properties they fixed up and turned out to be a group of hard working guys who liked what they did and gave families a place to call home when the bank wouldn't loan. A real win win for the community. I think they have a website...I'll look it up if any of you are interested. Merry Christmas! 401410 2009-06-01T14:33:27-07:00 Kirkland Don't bother with CDs - the Fed and the economy have killed what use was left of certs of deposits. The interest rates aren't all that great anymore and why bother getting locked up into low fixed rates when rates may rebound anytime? Cd laddering probably could work but it requires too much micro managing. There ought to be an online site that automatically manages CD ladders for you....like they pre-package the several long term CD rates into a single savings account type fund. Somebody go out and build it please 401560 2009-05-31T20:41:16-07:00 Marly Ally CD rates look good....at least they are near the tops in the CD banking industry. No Penalty CD's are great for those who don't like committing for long term deposit deals. I haven't take a look at the disclaimers or terms...so still need to properly vet the offer before committing. I already have a new savings account with them and so far so good. Good interest deal..I hope it lasts and doesn't ultimately tank once Ally Bank is done trying to acquire new customers 401430 2009-05-21T10:31:54-07:00 Travis As a long time CD account user, I think they are a great way to maximize rate of return while ensuring full FDIC insurance protection within its limits (thankfully they've been increased from $100,000 to $250,000). But one of the knocks on certificate of deposit rates have always been the restrictive terms and penalties for premature withdrawal. But have you guys checked out Ally Bank lately? Ally Bank's the new online name of GMAC Bank. For whatever reason, GMAC decided to switch its name to pursue a different marketing approach. But my point is - Ally Bank is currently offering No Penalty CD rates. Basically you can withdraw your money and put it anywhere WITHOUT A FEE. Currently the CD rate offered is 2.50% APY for a 9 month no penalty CD. Here's a snapshot from the no penalty fee CD account portion of the Ally Bank website: Get a fixed CD rate with the freedom of a no fee early withdrawal. - Open with $0 - No fees whatsoever - Daily compounded interest for maximum earnings - FDIC insured Maximize your coverage - Automatic renewal at maturity - Ability to withdraw and receive earned interest as income – just let us know before the CD maturity date or by ten days after - Want a no fee early withdrawal? We'll hand over your full balance and interest any time after the first 6 days of funding your CD - Your term and rate will go into effect when you make your opening deposit 401530 2009-05-09T09:22:39-07:00 Super CD Account I wish I had locked in higher CD rates earlier in the year and even from last year. My father locked in amazing CD deposit interest from 2 years ago..... I forgot what was the exact APY rate at which his CD account was at...but it was somewhere like 5 or 6% APY...insane rates of return. For those looking to buy into a CD, watch out for federal reserve interest rate changes - they fluctuate a lot. Locking yourself into a long term CD is a way to get around this. But the downside is that you end up on the outside looking in as a CD holder when Fed rates go up. High yield savings accounts may be better options during periods of high interest rate volatility! 401550 2009-05-07T09:30:09-07:00 Pete Well I like the idea of staying with CD accounts. I know some say it's stupid because of dropping rates, but I prefer the federal deposit insurance coverage that I get with good old fashioned bank accounts....CDs included. When do you think the CD rates will rise again? Do you think it makes sense to lock in a long term rate in the idea that rates may drop even further, or do you think this is it...that this is the lowest it will go for a long time..... 401450 2009-05-07T08:29:55-07:00 JohnsW Relax, why so serious? GMAC online bank CD's are FDIC insured. The recent approval of federal bailout loans to GM and GMAC parent bank have helped to secure the future of GMAC for now. Obviously, many of the banks that have hiked their best CD rates in the past few months and weeks have done so out of a desperate clamor for deposits in order to secure funding. GMAC Bank is no different. But I wouldn't worry so much because mainly.....of FDIC insurance. With FDIC limit backing, you can be sure that any CD investment within the current insured limits of ($250,000) will be safe. Your CD deposit, savings, or checking account investment is "safe" if you remain under the total FDIC limit for that bank. Trying to determine which banks or credit unions will fold and which ones won't is not a useful exercise IMO. They are not the biggest bank out there but I would think they get enough public and media coverage to fall under the category of "too big to fail"....not absolutely certain, but I would think so. 401440 2009-05-06T23:17:43-07:00 LV-Joanne Are GMAC CD or savings accounts safe? What's the fate of GMAC Bank? GMAC has great CD rates and look quite impressive as noted above, but I'm very concerned that the online bank isn't safe and might fold sometime in the near future.? Is GMAC's CDs safe to invest in for the long haul? I don't want to sleep uneasy at night What's the current situation and future condition of GMAC Bank? My understanding is that the bank is the financial arm of GM and that it's been experiencing major problems lately due to the mortgage crisis. Even with possible FDIC insurance, I am still wary of GMAC deposits...what do you guys think? Cerberus, one of GMAC's biggest investors had noted earlier in 2009 that "GMAC could run into substantial difficulty" if credit markets continue to decline. I know things have gotten better but are we out of the woods yet? I have major doubts! 401520 2009-05-03T13:43:15-07:00 Raymond Jim, I'll try to update the CD deposit rates as often as possible, particularly after major moves by the Federal Reserve. If they are out of date, please let me know. And yes, even the highest CD rates are not as lucrative as they once were. Bank rates have been dropping rather dramatically lately. 401420 2009-05-03T12:40:42-07:00 Jim Ah great...you finally updated the new CD rates. Wow, a big drop in certificate of deposit interest rates across the board. Such a stunning turn of events for us FDIC insured account folks. Please update the CD deposit rates more frequently please. Us bank interest rate seekers need continuous feedback!