CD account about to mature, looking for a better investment?

Question

Hi everyone,

I was wondering what would be best for investing. I put some cash aside and open a CD account with WAMU, it's about to reach maturity on september 1st.

I open it on 5/1/2007 with 3,040.00 and of 8/1/2008 it went up to 3,188.75. So for about 15 months I only gained 148.75. I only gained about less than 10dollars a month.

Is their a better bank investment? Should I open several small accounts? I don't want to spend this money and want it to stick with the bank. But at the same time I want to open it, or be able to open it, in my mid/late 30 or so. I'm 22 right now.

If it's with another bank I won't mind at all, but a big name with branches you know? Like Chase or something.

Answer 1

What interest rates do you have available on the CD right now?

Check out a site on http://www.bankaround.com where you can find higher interest rate accounts to put your money.

You need to determine how long you want to put the money in the bank for as well.