Best CD Rates, Money Market Accounts, Bank Rates

Who said it would be easy? In the last year CD’s have really taken a beating, but lately we have been seeing a higher rate from banks like Corvus and even Wamu bank of upwards and over 4% return. So whats safe and whats not? Well its not always the case, but some times the highest cd rates that from banks that appear to be stable are not really so stable. They are trying their hardest to hold onto consumer deposits. Does that still make it safe compared to other banks. While comparing cd rates you have a higher paying long term investment on one end, on the other end of it you have what seems to be a risky business investment.

Its not so much of something to worry about though. Your CD is not going to be gone as long as your deposits are kept under the Federal Deposit Insurance Corp. limits. These generally range up to about 100 thousands dollars with a traditional bank.

Its funny that people are trying to lock in a higher CD rates now, but in reality according to some analysts we haven’t even begun to see the high CD rates yet. As things get tougher in the economy, more banks will be raising the bar. So most analysts say to go with a short term CD rate. Maybe a 3 month to 1 year term. Its your money though so ultimately its up to you.