I received a solicitation from ING Direct today. Their 12 month CD rate is 4%. If you're a saver this is a good sign.
Interest rates have been terrible recently. If you're a saver and have a decent amount of money in a savings account or CD's you've most likely been losing money (with inflation).
I have a large cash reserve. My cash is set aside to start a business. I want a large cushion to ease the transition from working stiff to working my butt off.
Here's ING Direct's CD rates:
| Term | APY |
| 6 Month | 3.75% |
| 9 Month | 3.75% |
| 12 Month | 4.00% |
| 18 Month | 4.00% |
| 24 Month | 4.00% |
| 30 Month | 4.00% |
| 36 Month | 4.00% |
| 48 Month | 4.00% |
| 60 Month | 4.25% |
HSBC is offering a 3.5% rate on their Online Savings account right now. See all HSBC rates here. That's where I hold most of my savings. ING Direct is offering 3%. Not a big difference but if you have enough money, it's worth it to shop around.
I'll keep my money in liquid savings right now. I can't afford to tie it up for a year. The time for my transition draws closer so I really need money I can get to right away. After all, lack of cash flow is the cause of death of most small businesses. I want to give myself every advantage that I can.
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