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6 Month CD?
Old 07-09-2008, 03:39 PM   #1
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6 Month CD?

When does getting a 6 month CD make sense? I was thinking of laddering 6 month CDs between now and the time I was separated, which would have a CD maturing roughly once a month for the first 6 months after I got out. The interest rate is 0.3% higher than my savings account, but it's the best rate I've been able to find at 6 months.

This isn't a part of my emergency fund, and really won't be a major part of my savings (it could be used to recharge either later if necessary), but I'm getting a major itch to buy something I really don't need right now and want to hide the discretionary money away where it would be painful to get it back before I'm a free man again. I have better plans for it later.

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Old 07-09-2008, 07:37 PM   #2
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I wouldn't give up the liquidity for a measly 0.30%

Do the math. How much are you talking about? Even if you're talking about putting $25,000 in the 6 month'll only earn about $375 more by locking it up for 6 months.

No thanks.

If you need somebody to hold your money so you can't spend it...send it my way.

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Old 07-09-2008, 08:34 PM   #3
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nickel and dime.

i would rather find a better way to do with your money give it to the bank to hold for next to "nut-thing".

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Old 07-10-2008, 05:23 AM   #4
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Location: Central, Ohio, USA
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MMA at HSBC FDIC Paying 3.5% APY on $1 minimum. You can set it up on line and while it is a Bank (slow to credit you account; banks can post checks is seconds but most take days to post a deposit) you can make deposits and withdrawals on line. Seems to beat any 6 month CD rates I have seen.
Vietnam Veteran, CW4 USA, Retired 1979
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Old 07-10-2008, 06:31 AM   #5
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Psssst......... Wanna a good rate?

IndyMac CD rates surge as its stock price plunges - Los Angeles Times
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Old 07-10-2008, 06:43 AM   #6
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Originally Posted by UncleHoney View Post
Just get an annuity with them, probably a great rate now!

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