If you want to leverage the fed-rate rise leading to increase in interest rate of certificate of deposits it is perfect time to move your cash balances from your checking account, online savings account, money market account onto CD's
There are plenty of banks offering 1 year CD at enticing rate of 2.50% per annum
When we look at the profile of these financial institutions they are all FDIC insured upto maximum limit of 250000 per depositor account
I asked them how do they count the 250000 balances and they mentioned that it is combination of balances in all accounts with that particular bank
As such September 2018 is another fantastic month as far as CD rates are concerned. Get 1 year CD at their promotional rate of 2.75% per annum from USAlliance Financial credit union. This is a credit union and covered by NCU
There are many more labor day specials at this credit union
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