Article Treasure Cove

Uncovering Online CD Rates can be a difficult task. A few well thought out searches can return some of the best CD interest rates in the country. Just pick your favorite search engine and try a few of these. However, be sure to verify the banks are FDIC insured and the credit unions are NCUA insured.

First determine the type of online CD you want. Do you need Online CD Rates for amounts less than $50,000? Are you looking for better interest rates for your IRA CD? Do you need rates for Jumbo CDs? If you go to Google and type “CD Rates”, the top pages will give you access to high online CD rates available for amounts as low as $500.00 You will see a site for bankaholic and bankrate at number one and two. You might see a site for jumbocdinvestments in number 6. The top three positions are pretty stable; the others can change quite often. Each of those pages gives you access to high interest rate CDs.

If you are looking for the best IRA CD yields, try typing “best IRA CD Rates”. This time bankrate and jumbocdinvestments have the top spots. For Jumbo CDs (usually CDs that are greater than $100,000), you can try “Jumbo CD Rates”. Bankrate and jumbocdinvestments once again have the top places.

Between those sites, you should find the Online CD Rates. If you aren’t comfortable working with online banks and companies, you can always print out the offers you find and see if your local bank or credit union will match or come close to the online rates. You might also try Compare CD Rates.

As of 10/03/08, the FDIC increased the insurance limit to $250,000 at each bank you have deposits with. Your savings, checking, money market accounts, and CDs are added together and considered in total. The increased limit is only temporary, however. It is set to expire on 12/31/09 unless Congress makes it permanent or extends it. IRA, Joint, and Revocable Trust accounts are considered separately for insurance coverage. So it is possible to have quite a bit of money insured at one bank. The $250,000 coverage for IRAs is permanent. Those Online CD Rates and searches can sure come in handy at that point. Since the Congress hasn’t made the change permanent, however, be careful of your CD terms. You can only safely invest in 6 to 8mo CDs at this point with amounts that are above $100,000.00

These days it is also a good idea to do a little bit of checking on the health of the bank. Bankrate[dot]com has a great star-rating system that rates banks from the lowest 1-star to the highest 5-star. With the FDIC closing a bank a week these days (they closed two last week), I would stay away from 1-star and if you can find a 3-star or higher rated bank with a similar rate, place your CD there.

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