What Is The Best Rate

Hobart | Sep 5, 2021 | 3 posts since 2019

What’s the best rate available today?

Answers

Ally6770 | Sep 6, 2021 | 4,294 posts since 2010

That is what this site is for. Plus if you read it Ken has a blog every week of the best rates. Either use the site or read Ken's blog. Just because there is a good rate does not mean it would be available to you.

Wolfburt | Sep 15, 2021 | 2 posts since 2020

The best rates at Banks and CUs right now are on long term certificates (terms of at least 5 years). That said, the best certificate rates are still less than half the current rate on a Series I Savings bonds. I-bonds are currently paying 3.54% and can be cashed in without any penalty anytime after 1 year.

Rickny | Sep 15, 2021 | 1,296 posts since 2017

Wolfburt You are incorrect about the penalties on I Bonds. From the Treasury Website:

You can cash your Series I bonds any time after 12 months. You receive the original purchase price plus interest earnings. I bonds are meant to be longer-term investments; if you redeem an I bond within the first 5 years, you'll lose your last 3 months interest. For example, if you redeem an I bond after 18 months, you'll receive the first 15 months of interest.

Rickny | Sep 5, 2021 | 1,296 posts since 2017

I think you have to be more specific. Savings account? CD Rate and if so what term are you interested in?

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