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CDs Below 1%

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November 08, 2010 – Comments (3)

Pretty tough to create a nation of savers with these numbers:

http://blogs.barrons.com/stockstowatchtoday/2010/11/08/cds-fall-below-1-first-time-since-50s/?mod=yahoobarrons

I guess I thought that CDs had fallen below 1% and maybe in some cases they had (like for the shortest term). Either way, you are better off putting it under your mattress now...saves the gas and time of going to the bank. Amazing that there is virually zero incentive to deposit any savings in a bank these days.

Fool on,

Jason

TMFJMo Rising Stars

3 Comments – Post Your Own

#1) On November 08, 2010 at 3:17 PM, rd80 (98.66) wrote:

It doesn't help much, but there are some FDIC insured banks paying over 1% on savings accounts. 

Sallie Mae, ING, Ally and probably a few others.

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#2) On November 10, 2010 at 2:27 PM, lemoneater (79.38) wrote:

I just checked, my high yield checking account with Schwab gets me .25% variable APY. However as I recall they don't require a minimum balance for this rate. Unlike the 1.20% high yield account with Carolina First that requires a $10,000 starting balance.

No wonder why I'm a dividend and growth investor!

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#3) On November 10, 2010 at 2:32 PM, goalie37 (94.46) wrote:

They don't want us to save.  They want us to spend, borrow, and spend some more!

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