I'm slow. I'm still investigating options for cash we have on hand. Right now the money is in a money market account, earning 0.85%.
I started noticing how many credit unions exist around our area. I'm taking note of the names and locations and researching online. One credit union has a 36 month CD for 1.50% which seems really good. Or I could really lock the money up with a 60 month CD at 2.0%.
However, this money is what we are holding on to for our next down payment. Which we might need in about 2 years at the earliest. So I'd be better looking at a 16 month special CD rate of 1.05%.
The rates just aren't that exciting. I want more interest!! I will do something soon, just still haven't decided.
What is the best interest rate you are getting on your cash? Is it with a credit union, bank or other institution? How long do you have to keep your money invested without a penalty?
Interest Rates: Still Looking
April 19th, 2013 at 08:30 pm
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Thanks for the idea. I'm not used to considering stocks for short term investing, since we will want the money in 2+ years.
April 21st, 2013 at 12:38 am 1366501086
One of the minor reasons I'm doing the kitchen remodel is that interest rates are so crappy. I know I can get more pleasure in the kitchen than I can in the monthly interest.
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@ceejay, you should be able to open an account online, and yes, it would be a taxable account.
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