Advice on opening a CD account as well as a savings account with good interest rate?

I would like to open up a CD account and I am unsure of what a good rate is. I only want to invest between 3-$500 and for possibly a 6 month term. Is this unreasonable?








Also, I am looking to open a savings account that will also accrue interest and I am having trouble finding high rates. B of A offered me one that requires a $300 minimum and the interest rate is .02% APY. Isn't this ridiculously low? I spoke with an associate and she told me it is compounded daily and paid out every month. So if I deposited $300 would I be accruing only 60 cents per YEAR??? I hope I am misunderstanding these rates.





Please advise!
Advice on opening a CD account as well as a savings account with good interest rate?
ingdirect.com 4.30% APY


emigrantdirect.com 5.05% APY


hsbcdirect.com 4.50% APY





Any of these offer a good interest rate with no fees, restrictions, or minimums. I personally use Emigrant Direct and have been very satisfied with them.
Reply:Everbank has 6% for 3 months. There are other online accounts offering as much a 8%. Check this website:


http://bankdeals.blogspot.com/





PenFed has a 6% CD for 3 years!
Reply:Emigrantdirect.com is an online saving account with no fees, no minimums, and a 5.2% APR. It is very easy and safe. As far as a CD, with $500, you'd be better off putting the money in the savings account. CD rates increase with the amount you are depositing and you won't get a better rate than the saving account with 500 dollars. You are right, that .02% APR is garbage! There are other online savings accounts too that offer more than "brick and morter" banks interest rates, but Emigrantdirect is the best I've found. The CD with $500 isn't worth it.
Reply:ING and Citi's eSavings are between 4 and 5 % .


Their CDs are over 5% .





http://home.ingdirect.com/





https://web.da-us.citibank.com/cgi-bin/c...





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