Below you could fund a summary of the best CD rates for different maturities as of 10/27/2008. You could find the period of the offering, as well as the rate and minimum deposit required by the bank selling the Certificate of Deposit.
The average interest on those CD's is 4.30%. In order for savers to get a higher rate of return on their money, they have to stretch their time horizons further away into the future.
Capital One currently has a 7 year Certificate of Deposit offer special which yields 5.50% but also requires a minimum deposit of $5,000.
This article appeared on Carnival of Personal Finance No. 177 .
Monday, October 27, 2008
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