Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
Savings - CD?
I want to put 5000 in a 4.75% 5 year interest CD. Is that a good rate? Or bad?
4 Answers
- 1 decade agoFavorite Answer
in today's banking world that is a great rate... but you are gabling that the rates will not go higher in the near future.
remember that you will not be able to get to these funds, w/out penalty, for 5 years.
good luck
- 1 decade ago
4.75% for 5 years is not a good rate!!! Right now it will be hard to find a good rate for any CD due to the presidential election, rates always seem to drop around this time of the year. They usually go back up after the election. I would wait a few more months, maybe keep your money in a Money Market Savings account or a 7-8 Month CD. But I highly recommend staying away from the 5 year CD at 4.75%.
Source(s): Me...a bank employee!!! - Anonymous1 decade ago
Nope, not a good gamble for 5 years.
Put it in a one year...or a high paying Money Market account like INGDirect or Vanguard Prime Money Market Fund.
For 5-10 years you would be better off in a TIPS Bond direct from the Treasury Department at TreasuryDirect.gov.
...or I-Savings Bonds if you haven't already hit the $5k limit per year on those.
