Safe CDs, checking accounts for investors scared of stocks

March 25, 2009
By Kevin Cafferty

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USA Today had an article by Sandra Block yesterday, entitled "Safe CDs, checking accounts for investors scared of stocks", detailing how even though the Federal Reserve is keeping interest rates low there are still some options for finding great CD rates for people who don't want to tie up their savings in the volatility of the stock market (and if your 401k statement looks anything like my recent ones do, you definitley don't want to tie up all of your savings in the volatility of the stock market!)

This new online service allows small and midsize banks to compete for your business through Internet auctions. To get bids, enter the amount you want to deposit, the term of the CD you'd like to buy, and your state of residence. MoneyAisle also allows you to solicit bids for high-yield savings accounts.

You don't have to register to search for bids. In our test, the best rate offered for a one-year CD with a $5,000 deposit was 2.62%.

It should be noted that since MoneyAisle is constantly adding new banks to our network and the the banks in our network adjust their rates to what they feel will win them deposits, the rates offered for the very product listed in USA Today are better still than the 2.62% listed in the USA Today article - as of this writing 12-month CD rates are at 2.8% and could get higher still.

You can find out what MoneyAisle's rates are for a variety of products by running a free live auction on the site right now. Click Here to Try: Live Auction for CD Rates.

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