Who offers the best 6 month CD rates? Maybe your current bank.
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6 month CD’s tend to be one of the most popular maturities for certificate of deposit savers. And we know right now is not the best time to find high yielding 6 month CD’s, but before you consider a longer maturity with a slightly higher rate, consider the following.
There was an excellent special on CNN the other day illustrating the tactics regular people are using to save a little extra money. Many people are taking second looks at their monthly expense sheets and figuring out some decent cost cutting opportunities.
In the clip it shows a family get a 20% discount on their credit card payments, and another family receive a 25% discount on their monthly cell phone bill. How? By bringing up competitors’ rates and politely demanding that they match it …or they walk.
Can this be applied to savings accounts and certificates of deposit?
Here is the best 6 month CD rate that I have found. It comes from Wilshire State Bank of California and carries an APY of 2.53%. Before looking to open a new account with a new bank, see if your current bank is willing to match the 2.53% savings rate.
It just might work…
May 11th, 2009 at 10:34 am
didn’t quite work for me but I did get them to budge the rate a little!
May 13th, 2009 at 4:37 am
Discover Bank and GMAC bank offer some decent rates on 6 month CDs. I keep wondering to myself when the FED would start raising interest rates again.. Fixed Income Investors are feeling the pain of low interest rates.