I need some advice on CD accounts.Is 4.00 apy good? I saw a ad for citibank. I have about 500 that i would ?

like to put somewhere that we can't touch it.I need some advice on CD accounts.Is 4.00 apy good? I saw a ad for citibank. I have about 500 that i would ?
4.00 APY is good, right now for 1 year CD. Different time periods would change this.





$500 at 4% amounts to about $20 in interest in a year. Not much. And if you withdraw your money early, you'll pay a penalty most likely of no more than $20. That might not be incentive enough to keep the money in.





Check the minimums for your bank. Some require $5,000 or more to get the best rate.I need some advice on CD accounts.Is 4.00 apy good? I saw a ad for citibank. I have about 500 that i would ?
Right now 4.00 is as good as you can get. but sometimes there's a required minimum.. check to see if 500 is good enough for it... I'm always jumping my money around in CDs.. last year I got one for 5.11 and another for 5.40 but the minimus were 1000 and 5000... I recommend going to bankrate.com. and doing the search on CDs... that tells you where the good rates are.
I would invest in the Bank Cd if I were you. 4% is pretty good for these tough economic times. But first check to see if you meet the minimum dollar amount requirement.