PSPINC CEO Kenichi Uchikura's Blog

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Blog Thread

MY CD has APY of whopping 0.10%

MY CD has APY of whopping 0.10%

Feb

1 tweet

I had a six month CD with Bank of America with APY of 1.0% which matured early Feb. They send me a letter saying, if I do not do anything, I will be renewing it for next 6 months. At least that is what I thought.

I got a letter today that my CD now has an APY of 0.10%. That is 1/10 of what I was getting. I went to B of A brach and found out that if I did not renew it personally, they will renew it for me at the most advantageous rate for B of A. What with that?

It costed me $4 to cancel my CD and I put money in the savings now. I am going to look for something that has better return than 0.10%. That should not be too difficult.

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