As consumers gear up to save more in 2013, they may have to be creative to find accounts offering respectable yields. You could try utilizing some tips and tricks for maximizing your savings yield, but more importantly, solid research is your best friend.
Rates on certificates of deposit seem to keep inching downwards, making them ever less attractive to many investors. However, don’t write CDs off just yet. If you know where to look, these accounts could offer a yield many times greater than an average savings account these days.
|Length of Term (months)||Average Promo APY||Average Reg. APY|
CD rates that beat the average
|Wymar FCU||LA||3, 6 months||1.21%||Min $5,000|
|Utah Power CU||UT||6 months||1.15%||Min $1,000|
|Fort Dodge Family CU||IA||6 months||1.00%||Min $500|
1-2 year CDs
|Texar Federal Credit Union||TX||2 years||1.85%||Online Rate; Min $1,000|
|San Patricio County Teachers FCU||TX||2 years||1.70%||Min $2,500|
|Riverdale CU||AL||2 years||1.59%||Min $500|
3+ year CDs
|Birmingham Police CU||AL||5 years||2.38%||Min $1,000|
|One Source FCU||TX||5 years||2.27%||Min $500|
|Security Service FCU||CO, TX, UT||5 years||2.15%||Min $500|
Banking image via shutterstock