What's the best CD (certificate of deposit), in terms of earning interest, right now?

Question

If you put in $1000 for the minimum? I have Chase, but d/k how good their interest percentage is..I have heard ING (online?) is good but not sure how credible/legit an online financial service is. Any input and not too complicated terms! dollars per month accrued would make the most sense to me. Thanks!!

Answer 1

ING is perfectly legit. But I really don't think it's worth tying up the money in a CD for these paltry rates. If you don't already have an emergency fund of 3-6 months expenses, park your money in a money market fund in a local bank. Go local so you can get to know your bankers and they will know you. It will serve you well, and be worth the 1 percent many times over.

Answer 2

A great website for checking CD rates is Bankrate.com



www.bankrate.com

Answer 3

Right now, they're all terrible. U.S. Savings Bonds pay a better rate.