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With bank CD rates so low, where can I park my savings to make at least a little interest? - That’s Rich!
Updated Feb 04, 2021;
Posted Jan 28, 2021
Low interest rates for savings accounts and CDs in some cases are returning just pennies a month.AFP via Getty Images
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That’s Rich! - I was wondering if you know what is going on with KeyBank and its CD rates. KeyBank has lowered its CD rates to .05% APY for all of its CDs. As far as I can ascertain this is the lowest rate in Cleveland and most of Ohio. When I complained about a CD I was renewing, I was told several interesting things by my banker. First, he said that this is a national policy by KeyBank because it finds itself “overloaded” with CDs. Second, it understands that customers may move their maturing CDs to another financial institution and that is OK. He acknowledged that .05% APY is almost nothing. - David M. Broadview Heights. ....

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