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Opened a CD Today

September 21st, 2010 at 06:23 pm

A CD that I have is maturing on Oct 15th. I will miss it at 2.25%. I decided not to wait until it matured to open up another one. Ally has a 1 yr CD for 1.44% Right now, that's more than the money market account that I'm going to take it out of is earning. So, when it matures, I'll just have it transferred to the same account that I had the new CD taken out of.

Since I don't know if the CD rates will go down further or go up, this is a better choice for me. Ally will look back 10 days or 10 days forward from when you open the CD and will give you the best rate. I like that about them and they do have 4 stars according to Bankrate.com. I feel good about what I decided.