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| Thursday, January 31, 2008 |
| What Savers Should Do as Rates Drop |
 This WSJ article: What Savers Should Do as Rates Drop points out a few higher-yielding certificates of deposits and short-term bond mutual funds. "The good news is that rates aren't falling as fast as the Fed is cutting interest rates," says Greg McBride, a senior financial analyst at Bankrate.com. "The bad news is that they're falling faster than they were just a few weeks ago. There's no benefit to holding out because yields will continue to trend lower." Currently, the top-yielding deposit accounts range from 4.6% to 4.8%, compared with yields that were over 5% through the end of December, says Mr. McBride. Average yields on one- and five-year CDs are 2.75% and 3.09%, respectively. The Ameritrade CD is for 3 months and requires a $10,000 minimum deposit - but if you are looking to rate chase short-term it is worth taking a look. Deal ends 2/4/2008. |
| posted by Boston Gal @ 9:30 AM *
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You and some of your readers might be interested in zopa.com, a "social finance" website I found out about through my credit union--I see you've mentioned it once before, but since then it seems to have changed (and is now available in the US).
I just bought a CD at 5.10%--the minimum amount is only $500. My investment is helping someone who took out a loan through Zopa by reducing her monthly payment a tiny bit each month, and my interest rate is guaranteed. Even if you're not crazy about helping people consolidate credit card debt (which seems to be the majority of borrowers), you can't argue with the interest rate.
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You and some of your readers might be interested in zopa.com, a "social finance" website I found out about through my credit union--I see you've mentioned it once before, but since then it seems to have changed (and is now available in the US).
I just bought a CD at 5.10%--the minimum amount is only $500. My investment is helping someone who took out a loan through Zopa by reducing her monthly payment a tiny bit each month, and my interest rate is guaranteed. Even if you're not crazy about helping people consolidate credit card debt (which seems to be the majority of borrowers), you can't argue with the interest rate.