Kryptonite-Proofing Your Cash: CD Rates Hold Steady While Others Dip!

Up Up and...Holding Steady!

Greetings citizens of Earth! Superman here your friendly neighborhood reporter… with X ray vision for financial deals! It seems even the economy is doing its best impression of me in flight – hovering but not soaring or plummeting. My friend Betsy Graseck over at Morgan Stanley (no relation to Lois surprisingly) tells me that CD rates are playing a fascinating game of 'wait and see.' While the Fed is fiddling with rates like Lex Luthor with a doomsday device some banks are offering decent yields on Certificates of Deposit kind of like a fortress of solitude for your cash!

Not a Bird Not a Plane It's a Stable Rate!

Since March CD rates have been remarkably… steady. Imagine that! In a world where everything from Metropolis real estate to Daily Planet coffee prices is fluctuating wildly some banks are holding the line. Ten banks reduced their rates but others picked up the slack faster than I can catch a falling airplane. Of course these rates aren't as high as last year but let’s be real: even I can't be at peak performance all the time!

Faster Than a Speeding Bullet Slower Than Inflation?

Ted Rossman a senior analyst at Bankrate calls them "still attractive." It's like saying Bizarro is 'slightly less ugly' – a bit of an understatement perhaps. Right now you can snag a one year CD with an APY of 4.4% from Sallie Mae and Popular Direct. That's enough to make even Mr. Mxyzptlk pause and say “Hmm maybe I should invest!” (Don't quote me on that.)

Look! Up in the Sky! It's a Long Term Investment!

If you are feeling like you can see into the future like I can America First Credit Union has a 60 month CD with a 4.2% APY. In a world of financial uncertainty that is more valuable than a chunk of Kryptonite is dangerous (which is VERY!). This is significantly higher than the national average of 2% for one year CDs and 1.71% for five year CDs. Sometimes patience truly is a virtue like waiting for Lex Luthor to finally give up his evil schemes.

Insured? You Bet Your Cape!

Now before you leap tall buildings in a single bound to deposit your life savings remember that not all banks are created equal. But fear not! As long as your bank or credit union is insured by the FDIC or NCUA your money is safe up to $250,000. It doesn't matter if the bank isn't a household name because these agencies have your back. Think of them as the Justice League of deposit protection!

Know Your Kryptonite – And Your Timeline!

Before diving headfirst into these CD deals take a moment to consider your goals. Are you saving for a down payment on a Fortress of Solitude or maybe sending a super powered child to college? Consider your timeline and whether you can resist the urge to withdraw early as there are penalties involved. Also remember that over the long run these rates may not outpace inflation so don't put all your eggs in one Kryptonite lined basket. Remember folks even Superman has to plan for the future!