Posted on February 18, 2010.
Where is the best place to open a CD or money market account? I am looking for an insured legitamite, and high-yield bank or financial institution to invest my money. I do not want to invest anything more than $ 5,000. Could I get a better rate on a money market or CD? And where do I get one? Thank you.
Remember CDs and money market accounts typically have many restrictions on access to your money.
You may want to look at savings accounts online high yield, which carry no such restrictions, and are directly related to your current account money readily available if needed. They are also insured FDIC.
Two of them popular:
EmigrantDirect.com
INGDirect.com
Start by bankrate.com
anything at sea if you can not get taxed on the money markets are better.
I suggest you get an idea of what a good interest rate for a CD to www.bankrate.com. So if you are eligible to join a credit union. If you can, then check them, because they generally have very good rates on CD's. CDs generally pay a higher rate, but your money is locked for a period of time. For example, here in California, Patelco CU pays 5.5% for a CD of 9 months. Good luck!
