| The news is filled with stories about people having | | | | currently running at about 3 to 4 percent.Select Credit |
| difficulty making payments on their mortgages in the | | | | Unions. Keeping up with online financial institutions, some |
| face of steady increases in interest rates. What was | | | | credit unions are paying higher than industry average |
| once a fabulous deal for them has quickly turned into | | | | rates to attract and retain funds. Their competition is |
| an albatross, something that could threaten their | | | | now any bank across the county, indeed throughout |
| financial viability. Lost in all of this are those people who | | | | the world. Thus, to remain competitive, higher yielding |
| not only benefit, but thrive during times of higher | | | | rates are in order.Bank Specials. To woo new |
| interest rates. How about you? Are higher interest | | | | deposits, some fixed base financial institutions are |
| rates working to your benefit or not?If you live on a | | | | offering limited time specials paying a bonus rate of |
| fixed income, then you have suffered long enough with | | | | CDs. There may be some restrictions with these |
| dismal returns on your savings. Likely, the bulk of your | | | | banks that the others don't have, such as a minimum |
| monies are tied up in a safe financial vehicle such as | | | | deposit of $50,000 or a longer term - such as two |
| certificates of deposits. If so, then you suffered long | | | | years - for the CD versus six months or one year |
| enough with returns of 1.25% or so. Today, interest | | | | with other offers. Still, this is an option worthy of your |
| rates are climbing, so much so that a return of 4.5%, | | | | consideration especially if you wish to see your |
| 5% or even higher is possible. This has meant an | | | | account grow locally.Certainly, the options today to |
| immense relief for people who live on interest income | | | | earn a better return on your money are in place. Shop |
| and want their savings to last them for the rest of their | | | | around for the best deal and you will be one consumer |
| lives.Of course, not every financial institution is paying | | | | who has thoroughly taking advantage of rising interest |
| the higher rates so it is imperative that consumers | | | | rates.Joseph is the proud owner of Finance Guide, a |
| shop around for the best returns. Places to look | | | | website that will |
| include:Online institutions such as ING Direct, HSBC | | | | explain everything you need to know about Personal |
| Direct, and Netbank. Recent rates on CDs show an | | | | Budgets. We invite you to visit our site today and see |
| average of just over five percent on CDs with terms | | | | what we have to offer. |
| of one year or longer. This rate is above inflation, | | | | |