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    March 15

    Hot CDs

    Not music CDs, but Certificate of Deposit.
    My HSBC CD account just matured. I did some research on where to invest the money. Since Marc does not like me invest more than 5000 in stocks, I decide to put it in another termed CD. Here is the best deals I find so far:
    1. Citibank: 6-month CD Interest Rate: 4.65%
    2. Chase:    7-month CD Interest Rate: 4.50%
    3. HSBC:  9-12 month CD Interest Rate: 4.25%
    4.Washington Mutual 6-8month Interest Rate:4.41%
    If you are comfortable with online banking, HSBC also has a promotion for online savings account. The interest rate is 4.80%, good until April 30.
    5:42 PM | Blog it | Finance

    Comments (7)

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    Yang Guowrote:
    After consulting Wiki, now I fully understand. CD is just a different name for time deposit in the US. It's really not some rocket-science financial product. Good choice, Susan.
    Mar. 25
    Yang Guowrote:
    Wow. The rate is much higher than that - 2.25%  offered by BOC for 1-year term deposit
    Mar. 25
    Picture of Anonymous
    new mom wrote:
    CD is equivalent of “定期存款“, so it is a type of saving account.  With Term CD, like 6-month or 9-month CD, you can lock in a particular interest rate. The down side is that you can not draw money during that term period. otherwise, you have to pay a penalty.
     
    Say, regular saving account pays 0.8% interest rate, and 6-month CD pays 4.60%.
    Mar. 20
    Yang Guowrote:
    what's the diff between CDs and savings account?
    Mar. 20
    Picture of Anonymous
    amy wrote:
    I just found out this site: http://www.prosper.com
    it's like a money lending-and-borrowing ebay. interesting idea. take a look. :)
    Mar. 16
    Picture of Anonymous
    new mom wrote:
    yeah, I have invested in mutual fund too. Although  mutual funds are generally diversified, there are no guarantee of positive returns. That means you could lose money including your premium. Given the interest rates of CDs are so high, I prefer CDs over mutual funds.
    Mar. 16
    Picture of Anonymous
    amy wrote:
    how about mutual fund? do you do any of those?
    Mar. 16

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