CD rates plumbed new depths in April. Rates varied though. Savers in Cincinnati had access to CD rates half a percent higher than people in Pittsburgh.
A federal judge orders Allen Stanford, perpetrator of a massive Ponzi scheme involving fake CDs, to pay $6.7 billion in penalties.
Finding special CD offers takes some work. Savers may have to call the bank or credit union or go to the website to find out what specials are on tap.
The stereotype of the retiree living off the interest from CDs and savings is gone. The question is, will it ever return? It may take longer than you think.
The minutes of the last Fed meeting show that many committee members see the end of QE at the end of 2013. Could that mean higher CD rates?
A CD can’t earn you much interest these days, but it can help you qualify for a CD-secured loan at many banks and credit unions.
Would you rather save money in a CD or buy a lottery ticket? What if you could do both at the same time?
Keeping up with physical papers can be a pain but savers should hang on to their CD documents until the CD matures. After maturity, feel free to toss the records.
The plight of CD investors in Cyprus’ banking crisis illustrates the importance of respecting FDIC limits on deposit insurance.
This year will see the end of high-yielding CDs issued in 2008. That is bad for the owners of those CDs who will be forced out into the cold yield-barren world of 2013, but borrowers may benefit.