9 month CD rates – MoneyAisle vs Bankrate
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Part 2 of the Moneyaisle review is an examination of the infamous 9 month CD. I find the 9 month CD to be somewhat of a slug when compared to other investment vehicles primarily because of it’s yield. If you compare the following 9 month CD’s with the 6 month CD’s offered by both Moneyaisle and Bankrate you will see that the 9 month CD actually yields a lower rate.
If you are unaware of moneyaisle.com’s business model here is the short version: First, you determine which bank investment vehicle you’d like (ie. high yield savings account or Bank CD) followed by such key factors as duration of investment and deposit amount. Moneyaisle will then have it’s 85 participating banks bid on your criteria allowing the bank offering the highest rate to win your business.
This first table illustrates the 9 month CD rates I’ve locked in via Moneyaisle and the second table shows the top 9 month CD rates according to Bankrate.com.
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Compare the above with the following…
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The conclusion here is similar to Part 1 in that Bankrate touts the highest yielding 9 month CD, while Moneyaisle holds a much more consistent rate on a state by state basis.
