National city bank is offering a 48 month cd at 5.25%. Does anyone know about National city. Is there a rating system for banks. Is this a good rate compared to what else is out there?
I occasionally use BankRate's ratings (link below). Don't know if there are better ones.cheershttp://bankrate.com/brm/safesound/ss_home.asp#free
See www.bestcashcow.com and www.bankrate.com.Wendy
National city bank is offering a 48 month cd at 5.25%. Does anyone know about National city. Is there a rating system for banks. Is this a good rate compared to what else is out there?Definitely a good rate. Pen Fed 5-years at 5% and, except a few short term options, I see nothing.
There is good reason to fear that National City may go belly up in the near future. Stay well under the FDIC limit.Ditto for Countrywide & Indymac. Both of which I have CDs at. 'course, if they get bought out instead of getting shut down (like Countrywide/BAC) then the new bank will still have to honor the rate. I believe that on a shutdown they can abrogate the rate/terms.
If it is FDIC insured, I would go with it. the trend in interest rates looks down, if anything. I suspect that 5.25% APY will look good for the next four years and it is at least a half percent better than you can get on MMFs even now.We just took out a 7 yr 5.25% APY CD with Pen Fed so we put our money where our mouth is.brucedoe
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