cardude
Full time employment: Posting here.
- Joined
- Feb 21, 2006
- Messages
- 599
I'm still thinking about the CD ladder thing, and I ran across an online savings account at GMAC bank that yields 3.75%.
GMAC Bank : Online Savings Rates
Why wouldn't one use something like this to stash cash instead of tying it up in one year or longer CDs?
Has anyone used GMAC bank?
I'm not thrilled with the stability of GMAC these days due to the instability of GM and Cerberus, but it looks like for the next year I could get $750,000 of FDIC coverage if I open up two single accounts for me and my wife and then a joint account for both of us. This is according to the FDIC benefits estimator I found online at:
https://www.fdic.gov/edie/tutorial.html
GMAC Bank : Online Savings Rates
Why wouldn't one use something like this to stash cash instead of tying it up in one year or longer CDs?
Has anyone used GMAC bank?
I'm not thrilled with the stability of GMAC these days due to the instability of GM and Cerberus, but it looks like for the next year I could get $750,000 of FDIC coverage if I open up two single accounts for me and my wife and then a joint account for both of us. This is according to the FDIC benefits estimator I found online at:
https://www.fdic.gov/edie/tutorial.html