I do. I think with what is going on globally, the Fed will be hesitant to raise rates too fast. I would expect to see a slow and steady increase, but nothing too meaningful until next year.

FrankN wrote: I agree, you may need to wait atleast a year for CD rates to go up.

Do you think it will be another year before we see rates go up? I was hoping for some positive changes this year. Maybe that's wishful thinking during an election year.

I agree, you may need to wait atleast a year for CD rates to go up.

I was going to get into CDs last year, but in the end, I decided it wasn't worth it to tie up my money for two percent or less. It would be great if CD rates go up this year.

Of late, with the first of several proposed Federal Reserve rate increases, don't jump on any long term CDs right now. Financial experts (if there really are any?) believe there will be improving CD rates coming to the market place in 2016.

CD rates a rough right now, and it is tough to make a return. WANDERER is right, you really have to do your searching to find a decent return. 3% is incredible in this market of fixed rates. I expect it to be better in 2016 though.

Check out Dave Ramsey of Ramsey Solutions. He has a talk show in my area and he is very knowledgeable in all things finance. I'm not promoting him, but he will be able to tell you everything you need to know about CD's.

Hey everyone I have chased quite a few CD's. My experience has been to find motivated regional banks and credit unions NOT the big boy banks. They have been more willing to do promos open with $500 to $5,000 dollars and pay up to 3%. You have to dig around in the newspaper, internet and look at the financial institutions in your own market area. My experience with Bankrate.com is a more limited market (they can't be everywhere). Look around your own geographic areas and dig some. The rewards just may be there! Works for me!

LOL Mathman! This is just a sign to verify how an old post can still be updated as new. Thanks for your feedback, it was very valuable and is appreciated by the thread started, and the new readers. Here is the link for further details about brining old postings up to date. https://www.financeglobe.com/forums/the-lounge/149-bring-your-old-posting-up-to-date

right now, cds are not paying good rates. you'll be lucky to get 2.5% for 1 year.

i would recommend doing a combination of wachovia way2save (5% APY + 5% one-year anniversary match) and a netspend prepaid debit (5% APY with some minor inconveniences).

also, i've opened up a few extra checking accounts for the sake of signup bonuses. but this is fairly big inconvenience for most.

edit: oh gosh! i thought the date said 2009 not 2008.

I am thinking about getting a CD. I was looking at certian banks and the requirements and interest rate. The smallest amount that I could put into a CD was $1,000, the next was $2,000.

Hello Eldarwen, don't know whether or not you found a CD but if you go to http://www.bankrate.com you can search for banks that may offer one with a lower starting balance.

Hope, this helps.

I am thinking about getting a CD. I was looking at certian banks and the requirements and interest rate. The smallest amount that I could put into a CD was $1,000, the next was $2,000.

Thanks. What I'd really love to do is add $1,000 or so a month into one tight program that will make me the most on my return. I heard CDs were a good way to go, but after some research I was also looking at hedge funds. Some hedge funds you can join for $500 to $1,000 starting. Of course, the more you put in, the more you get out.

HSBC paying up? No way!

I actually have a CD with Wachovia that I add to on a monthly basis. I started out with $1000 and I add $150 to it every month. This is what I am using for my long term savings. I have had this CD for 2 years now. Also, ING did have a CD that you could add to each month. If you can't find a CD, I would consider a on-line savings account. They are paying alot more than a bank savings. I have one with HSBC and it is doing fine compared to the one that I have at my bank. Just a thought.