Okkkkkk. So, one of the financial institutions I use offers a savings account and various CDs?

Okkkkkk. So, one of the financial institutions I use offers a savings account and various CDs... The interest rate on the savings account is currently 3.01%, but the interest rate on cds is way lower (see below). Why are the cd rates so low?

Shouldn't they be at least close to the savings account rate? I mean, I can understand why they wouldn't be high, with the prime so low, but still, they should be higher than they are, shouldn't they? Term Length APY* Rate 3 Month .85% .85% 6 Month 1.20% 1.19% 1 Year 1.45% 1.44% 15 Month 1.40% 1.39% 1.5 Year 1.30% 1.29% 2 Year 1.00% 1.00% 2.5 Year 1.20% 1.19% 3 Year 1.30% 1.29% 4 Year 1.50% 1.49% 5 Year 1.70% 1.69% Asked by Schelli 34 months ago Similar questions: Okkkkkk financial institutions offers savings account CDs Business > Financial Services.

Similar questions: Okkkkkk financial institutions offers savings account CDs.

1 As a banker (although not one with tons of experience) I find this very odd. Are you in a money market account that had a guaranteed promotional rate that will go down after a period of time? Otherwise, I have no clue why your bank would do this.

Our CD's are running between 2% and 3.5% and our savngs accounts between 1% and 2%. I'm going to watch this question to see if anyone comes up with an answer.

As a banker (although not one with tons of experience) I find this very odd. Are you in a money market account that had a guaranteed promotional rate that will go down after a period of time? Otherwise, I have no clue why your bank would do this.

Our CD's are running between 2% and 3.5% and our savngs accounts between 1% and 2%. I'm going to watch this question to see if anyone comes up with an answer.

2 I would guess that indicates the Bank is expecting further troubled times - they're betting/predicting the prime and therefore savings interest rates will fall even further during the duration your CD would theoretically be open. This user has been banned from Askville.

2 I would guess that indicates the Bank is expecting further troubled times - they're betting/predicting the prime and therefore savings interest rates will fall even further during the duration your CD would theoretically be open.

I would guess that indicates the Bank is expecting further troubled times - they're betting/predicting the prime and therefore savings interest rates will fall even further during the duration your CD would theoretically be open.

3 The answer is always the same when it comes to any commodity, which of course money is the main one with which people are most familiar, pork bellies aside of course...Supply And Demand...

The answer is always the same when it comes to any commodity, which of course money is the main one with which people are most familiar, pork bellies aside of course...Supply And Demand...

4 Arkansas City Banks are extremely close to what Schelli has listed. I also think MrItty may be right on!Blessings........Annlee .

Arkansas City Banks are extremely close to what Schelli has listed. I also think MrItty may be right on!Blessings........Annlee.

Tedibear replied to post #2: 5 A scary thought, although it would be a logical one for those rates.

A scary thought, although it would be a logical one for those rates.

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Could there be a competition among the Banks and Financial institutions to see who can lose the most money.

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