CD’s for Seniors at high rates
I see on the internet articles claiming that banks/financial institutions are offering cd rates of 7%, 9% even as much as 12% to seniors… my local credit union’s best cd rate is 4% for 9 months currently…these internet articles refer to them as ‘High-yield CDs for Retirees’ my question is: Are these scams?
Terry Says
Likely a scam, and not a FDIC insured bank certificate of deposit.
Here’s the standard: U. S Treasury bills are yielding about 4.3% for 6 months. And they are free from state income taxes. Anything more than that is suspect.
But if you want to find the highest legitimate CDs, go to this link at Bankrate.com.
