Quote:
Originally Posted by disneysteve
It is true that the amount involved makes a difference. I just finished opening a $6,000 CD at 2.05%. That's about an extra $45 over an account earning 1.3%. Plus, the 2.05% is fixed and guaranteed for 12 months. The 1.3% could possibly go down. Since it is money I won't be needing, I'll take the higher rate.
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Good point about money that you won't be needing. My largest ING account is my emergency fund, so I'd like to keep it as liquid as possible. If a genuine emergency arises, I don't want to forfeit months worth of interest in penalties just to get at it.
I figure though- if rates were to climb significantly higher (maybe 6-8% range?), I'll take the risk and lock at least some of it up for quite some time.