No. of Recommendations: 1
I am the one who voted YES, and in fact we have our own efund in a 5-year CD. Of course we did this 3 years ago and got a very good rate. The reasoning is this: breaking of the CD entails foregoing 3 month's interest (IIRC), and if it's a true emergency (losing a job/ major accident etc.), then it's a small price to pay. And, by the way, you *can* redeem a 5-year CD on demand!

On the other hand, if you are going to use the efund for the garden-variety "emergency" (car repair and such), then the 5-year CD makes no sense.

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