bank rates

Rising Rate CDs: More Flash Than Cash

A growing number of banks are promoting “rising rate” CDs, which allow savers to boost their return if interest rates go up.

They’re playing to fears that anyone who locks in a long-term rate now will suffer when the Federal Reserve finally starts pushing interest rates back up.

Unfortunately, most of ones we’ve looked at are a better marketing gimmick than investment.

The “Raise Your Rate CD” from Ally Bank is one of the few that seems worthwhile for savers.

The Ally Bank 'Raise Your Rate' CD

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