College Savings Bank Fixed Rate CD
The only bank that exists for the purpose of helping people save for college is now offering fixed rate certificate if deposits for saving up. Through the Arizona Family College Savings Program you will now be able to get several very promising and tempting funds available. They will range from one year to 3 years CDs, and allow you to save up money the smart way. According to Dan Davenport who is the chief marketing officer, he wants to ensure with tough times in the economy that people are getting the most for their investment.
Currently the yields are a healthy rate considering what the economy is doing, and they are as follows.
- 1-year CD Rates: 3.40%
1-year jumbo CD Rates: 3.50%
3-year CD Rates: 3.75%
3-year jumbo CD Rates: 3.85%
This should not only help those families who now have to cut back on college funds to save a little better, but also if times get tougher it allows them to have a backup plan. Fixed rate cds are a good bet, and allow you to lock in that rate for the duration of the period of time. With the volatile equity markets this allows for people to know exactly what is going on with their money.
While these are not the highest CD rates, Remember when some rates are high on CD’s it is a possible sign of that bank or institution having financial trouble as was seen with banks like Wamu A.K.A Washington Mutual. You will be happy to know that College Savings Bank is the only exclusive provider of this CollegeSure CD and InvestorSure CD which have just been made available. So be sure to check with them should you have further interest in obtaining that. Also check for special tax programs for Montana and Arizona if you live in one of those areas and purchas a certificate of deposit.
