Top CD Rates

This is be a part two of my four part series on banks in the states of the Vice Presidential/Presidential candidates. This post will focus on Joe Biden’s homestate; the banks of Delware and their CD Rates.

First thing you’ll notice is the banks in Delaware are some of the larger banks in the US and many of them are having financial problems. Joe so kindly helped pass a bail-out plan to help them out. AIG took the bail-out and then had a big party. Nice.

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On October 3, 2008, President Bush signed the Bail-out plan into law. Part of the package was an increase in the FDIC insurance limit to $250,000.00. At this time, however, it is only temporary. This part of the plan is set to expire on 12/31/2009.

In the meantime, as long as you keep the maturity of any new CDs before or on 12/31/09, you can increase your deposits at banks you already have funds at to a maximum of $250,000.00. Review your portfolio of CDs. Many of the current bank rates you have will still be paying a top CD rate. Go ahead and put more funds there.

If you are opening up jumbo CDs, just make sure you keep the principal and interest below the new FDIC insurance limit of $250,000.00. That way it is all insured.

Good luck and happy jumbo CD rate hunting.

CD Rates In USA