Articles

TD Ameritrade is currently syndicating a 6 year callable step-up CD issued by JP Morgan Chase. The CD represents perhaps the most transparent "heads I win, tails you lose" offering available, and should be avoided.

CDs, in particular many online five year CDs, are a safe option in the current interest rate environment.

Until October 15, EverBank is offering a 3 year product that gives investors the opportunity to participate in the upside of a basket of 5 currencies (Russia, India, China, Brazil and South Africa) in what it calls a "Marketsafe CD". This product really is not a CD, but rather is an inappropriate investment for most.

Historically, the wealthy and near wealthy have been prompted by brokerages like Morgan Stanley and Merrill Lynch to eschew CDs in favor of high grade municipal bonds. While the advice of the major brokerages has a self-serving function (they generate commissions on their clients’ municipal bond trades, but lose assets under management when a client withdraws cash to purchase a CD), it has also been very sound advice. The competitive market in CDs and rapid decline in long term interest rates has now made intermediate term CDs much more attractive.

Cardinal Bank is offering a special 3-year CD that pays 1.67% APY. That's higher than any of the online CDs and one of the highest CD rates for that term anywhere in the country.

CIT Bank today launched a new RampUp line of flexible CD products. Three and four year RampUp CDs provide holders with a one-time opportunity to lock into a higher CD, if CD rates rise, during the term of the product. One and two year CD products are called RampUp Plus. In addition to the one-time rate increase, depositors can also do a one-time added deposit during the life of these terms.

First Choice Bank of NJ is offering a 5-year CD that pays 2.5% APY if it is opened with a Platinum Checking account.

Brokered CDs pay well below the best online CD rates and have ever since the advent of online banking. Do not be fooled. Any website or individual claiming that they can get you a better rate than the best available rate online is more likely than not an out-and-out fraud.

Bank deposit rates have continued to move higher in 2014. View the top rates on savings and CDs and what we expect to happen during the rest of the year.

Goldman Sachs and other investment banks are currently syndicating an FDIC-insured CD offering from Goldman Sachs Bank USA. The product is interesting, but involves significant risks, including the risks of low long term rates and a 15 year maturity. Therefore, depositors should chose shorter term Bump-Up CDs from Ally or CIT over this product.

Credit Union West in Arizona is offering some very attractive rates on CDs and rewards checking accounts for those living in Maricopa or Yavapai counties.

I have recommended debt-side Structured Notes as instruments to add to a balanced portfolio, but Barclays Capital's latest offering is one that I particularly dislike.

Sol Nasisi, the President and Chief Rate Analyst at BestCashCow, provides his insight on what to expect savings rates to do in 2014. Helpful reading for anyone trying to decide where to put their cash in 2014.

The end of the year presents a good time for savers and investors to take stock of their financial position not only because it is a reflective period but because there are some very real financial deadlines associated with December 31. Missing them or not being aware of them could cost you a bundle. Here are a few things that every saver should do in the next couple of weeks, if you haven't done them already.