Interest rates5 of 8While the rate you're getting for your current CD isn't going to change, you'll definitely want to keep a close eye on things when renewal time comes around. Your new savings institution may not be as competitive as your former one, so a change of ownership is a good time to shop around for a better rate.Of course, it's wise to examine rates every time a CD is up for renewal, but few people do so. When a bank gets new owners, though, it's a good reminder that there are other places eager for your business. Related Articles:Choosing a community bankSafe havens for your savingsBank accounts gone wildRelated Links:3 ways to boost your net worthCheck your bank's safetyCalculate the effects of inflation advertisement
While the rate you're getting for your current CD isn't going to change, you'll definitely want to keep a close eye on things when renewal time comes around. Your new savings institution may not be as competitive as your former one, so a change of ownership is a good time to shop around for a better rate.
Of course, it's wise to examine rates every time a CD is up for renewal, but few people do so. When a bank gets new owners, though, it's a good reminder that there are other places eager for your business.
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