March 18th, 2009
While searching for the best rates for you guys, I came across MoneyAisle awhile back. After some talks back and forth I felt comfortable with their service. You’ve probably seen their ad on our rates page. They offered to write an introduction piece for us, their blogger, Kevin Cafferty, provide the below information. They have competitive rates. I ran an auction today and a 2.50% APY was the top rate. That is in the top 10 rates that we are seeing. So enough of me, here is Kevin. Please leave any questions in the comments, I’m sure we can get Kevin to come over and respond.
Looking for the best CD Rates?
Recent market volatility has made safe investments like certificates of deposit more attractive to consumers looking to get a steady return on their savings. Rates between different financial institutions may vary to the point where it’s difficult to find out if you’re getting the most out of your cash.
The Solution: MoneyAisle
MoneyAisle takes guesswork and time-consuming comparison shopping out of the equation by providing you with great rates, free of charge. Over 100 banks in the MoneyAisle network all want to acquire you as a depositor and are willing to bid against each other in a live instant auction for that privilege.
Here’s how it works: you enter the terms of your CD (deposit amount and duration) into MoneyAisle and then watch the banks battle it out in a live automated auction – the winning rate at the end of the auction is the highest rate available in MoneyAisle’s system at that time. You’ll be presented with comparison rates on a national and state level to give you a sense of what your return will be and you’ll be provided with information on the bank.
It’s free, and you don’t have to commit until you’ve gone over all the information. The entire auction process only takes a few minutes, every bank in the network is a member of the FDIC, and the banks have been further pre-screened using an independent bank rating agency for additional consumer protection (banks rated in danger of failing are not in the network.)
-- By +Chris Duncan