Countrywide Bank: 4.90% 6 Month CD

If you’re looking for a safe place to put your money, then a CD is not a bad idea. Unfortunately, with the Fed lowering interest rates, finding a rate on the better side of 5% is nearly impossible at the national level. The closest you can get is probably a 4.90% 3 or 6 month CD from the bank arm of the struggling Countrywide (currently on its way to becoming yet another Bank of America acquisition) if you are willing to commit $10k+ to a CD and open it online. (Rate as of 03 February 2008)

If you’re concerned about Countrywide going bankrupt or falling under some other financial distress, your CDs are insured up to $100,000 by FDIC insurance.

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