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CD Rates-Here we go again!
Old 03-14-2014, 12:24 PM   #1
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CD Rates-Here we go again!

I new this was going to happen but didn't want to face it so soon. I have an IRA CD maturing 3-16-14. Got 10 days to act. The bank that is holding the CD now offered me 2.2% for five years with a penalty of 6 months interest if it's redeemed early. I've looked everywhere and can't find anything better. I don't plan to redeem it within the next 5 years and I don't see rates going higher in the next year so I think I'm going to leave it with that bank and take their offer.
Any thoughts?
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Old 03-14-2014, 12:46 PM   #2
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Probably a good idea. You could do a 9 month CD at bupkis and then roll it into a PenFed January CD which will probably be over 3% by then, but who knows what'll happen between now and then, and who knows if PenFed will do their typical January bonus?
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