Savings & CD Rates

After weeks of slashing rates, this week we see a little improvement. GMAC Bank raised their savings rate from 5.00% to 5.25% and today they raised their CD rates up from 5.30% to 5.40%
GMAC BANK (Min deposit $500):
Term: Rate: APY:

	3 months	5.12%	5.25%
	6 months	5.21%	5.35%
	9 months	5.21%	5.35%
	12 months	5.26%	5.40%

On the other hand World Savings has been slashing their rates. Their 6.01% CD went down to 5.76% a few weeks ago and now that's gone too! Their highest paying CD is 5.61% for a 4 month term only. For their online banking their rates are as follows (Note that they have no 6, 9 or 12+ moth CDs!):

Term APY
3- Month 3.16% APY
4- Month 5.61% APY
5- Month 5.26% APY
5- Year 5.14% APY


Another attractive option at the moment is from Citibank that is still running their 5.50% 6 month CD special with a minimum deposit of $500 and 5.00% e-savings account.

E-Loan is still offering the 5.50% online savings account. Refer to me earlier post regarding the E-Loan account.