fdic insurance updates
Although there have been plenty of good news that the recent release indicating that we might be starting a recovery, which could have a little more difficult times before the good times are back. The stock market is rallying, housing construction and sales are starting to bottom out and large companies such as Citigroup and Wells Fargo reporting better than expected earnings, but if you like it or not, there are still signs that the recession is not over. On one hand, the unemployment rate continues to rise, corporations are laying off workers by the thousands. Recently, Goodyear Tire & Rubber announced it will be giving home to 5,000 people. The unemployment rate is now 8.5 percent and experts say, will continue to increase to 10 percent by the end of this year. So my advice is, in the reign of his money and seek a safer refuge.
In this time of uncertainty, of depositing their money in the savings account is good. In fact, that is the trend. The recession has a positive effect on U.S. saving behavior last month February, the savings rate has been linked to a high of 3.6 percent, which tells us that more Americans are saving money for expenses. But putting money in certificates of deposit or CD is the safest and best option. The reason is that you can not lose. Your deposit is insured by the FDIC in the amount of $ 250,000 and get better interest rates. Although interest rates has been declining from a high of 5 percent to 2 percent today, there are plenty of good deals offered around. Low interest rates, could be a nightmare for depositors, but it is a blessing of the overall health of the economy. Even at only 2 percent is still good because inflation is been reduced to almost zero.
If you think 2 percent is low, then all you need is the right tool to find the best CD rates online. Did you know you that H & R Block Bank is offering a twelve-month promotional CD rate of 3.20 percent with an annual percentage yield of 3.25 percent? Dig this, the minimum deposit is only $ 250.00. If twelve months is too long for you, how about this? Ameritrade offers CD rate of 2.97 percent with an annual percentage yield of 3.00 percent for 3-month certificate of deposit. The minimum deposit is $ 25,000 only. As you can see, if you have the right tools, you can get useful information like this that can guide you in deciding which bank offers the best CD rates.
Visit websites that specialize in the collection and publication of the latest financial news and market trends would be a good start, as MonitorBankRates.com. This website has tons of useful information on the financial market that is updated regularly. Another thing you need is a CD rate table, which shows the different banks and financial institutions, their APY, minimum deposit required and comparatively conditions. All you have to do is select the CD type and provide code Postal and the resulting table will provide an idea that banks offer the best rates in the area
About the Author:
Compare the best
CD Rates
(Certificate of Deposit Rates),
Savings Account
, Credit Cards and
Mortgage Rates
Article Source: ArticlesBase.com – Extra Cash to Stash in a Savings Account or Certificate of Deposit
FDIC insurance limit & The Mafia
