It is not a good idea to open a CD with a term of 9 months or less at Ally Bank. The reason is based on simple math. Here are the latest CD yields from
Ally Bank High Yield CD
(as of 7/11/2011):
3 Month CD = 0.44%
6 Month CD = 0.94%
9 Month CD = 0.99%
Instead of opening one of these shorter term CDs, it is a better choice to open up an
Ally Bank No Penalty 11 Month CD
with an APY of 1.19% APY. Because it has no early withdrawal penalty, you can withdraw your money from the 11 Month No Penalty CD at any time. The yield beats out any of the shorter term CDs that Ally Bank offers, so there is no need for any of the shorter term CDs which will charge an early withdrawal penalty. Also, there is no minimum deposit requirement on Ally Bank CDs, and Ally is FDIC insured.
DC
Need quick cash?
Secure cash advances online from CashAdvancer can help today!
Posts
2 comments:
I have a web site where I give advise on penny stocks and stocks under five dollars. I have many years of experience with these type of stocks. If their is anyone that is interested in these type of stocks you can check out my web site by just clicking my name. I would like to comment about the linkedin public offering . and the other social networking stocks that will most likley be going public soon. New issues are almost always bad investments the vast majority of these stocks are way over priced on purpose. I always recommend that investors stay away from these stocks.
I'm always trying to get the cheapest airline tickets, so I usually book connecting flights, but I wonder if this really saves me money overall?
Post a Comment