![]() That's when I check the current rates and decide whether to renew my CD for the same term, move it into a different term, or pull out the funds. About a month before the renewal date, I'll get an email reminding me that my CD is set to mature. I'm planning on renewing my CDsĪlly's CDs automatically renew. Earn top savings rates on CDs and savings accounts and manage it all with a single secure login. Get Exclusive Savings with Raisin : Open one of the best savings accounts with a no-fee Raisin account in minutes and spread your savings across an exclusive network of over 30 FDIC-insured banks and NCUA-insured credit unions. I am building a CD ladder, so I can access funds if needed or move them into a different type of savings account every three months or so. ![]() I decided on my timeframe of six months to 13 months because that was a comfortable timeline for me to keep those funds locked in. All I had to do was open a few CDs and choose the maturity dates and the amounts.Īlly currently has high-yield CDs that range from three months to five years. If I had parked my funds in my old savings account, I would earn very little interest. At the time, the 13-month CD had a 4.6% APR, which is 92 times more than the interest I was earning from my old savings account with another bank. I opened CDs with several term lengths: six months, nine months, 12 months, and 13 months. My savings account back then was offering only 0.05% interest, and the simple maneuver yielded 40 times the savings.Īt the beginning of this year, I took advantage of the high CD rates with Ally. Last year, I made what I thought was a pretty solid money move: I opened a high-yield savings account and moved my money from a savings account earning me very little interest.Īlly's high-yield savings account had a 2.0% interest rate at the time. Terms apply to offers listed on this page. In some cases, we receive a commission from our partners however, our opinions are our own. Our experts answer readers' banking questions and write unbiased product reviews ( here's how we assess banking products). ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |