bank rates

Get Laid Off, Get Your Savings Back

If you’re hesitant to tie your savings up in a certificate of deposit because you might lose your job, Discover Bank has a solution.

The online bank run by Discover credit cards will allow you to withdraw part or all of your money — including the interest you’ve earned — if you’re laid off.

There’s no early-withdrawal penalty if you provide Discover with a layoff notice or paperwork showing you applied for unemployment benefits.

To be eligible you must open or renew a CD of 12 months or longer between July 1 and Dec. 31, 2009 with a minimum deposit of $2,500.

Interest rates are the same as on CDs without the penalty-free early withdrawal.

Discover is currently paying a respectable 2.20% APY on its 12-month CD, which is more than a full percentage point above the national average of 1.16%.

Click here to compare that with the best CD rates from dozens of other banks in our extensive database.

Cash for Clunkers

The government’s “Cash for Clunkers” program starts today. Here’s how to tell if your old car or truck qualifies for a rebate of up to $4,500 when you trade it in on a new vehicle. It’s on Bankaholic’s Personal Finance Blog, which you can always reach by clicking on the “finance” tab at the top of the page.

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