So I’m planning on opening a CD ladder…if you can even it call it that. It’s composed of a 3 month and a 6 month CD. Interest rates at GMAC are currently at 5.2% (3 month) and 5.5% (6 month) APY.
I’m just waiting to get everything settled. I haven’t opened a CD at GMAC yet, but it looks like it will be a straightforward process. I just sent in my signature card, so I’m just waiting for access. Has anyone gone through the process of opening CDs at GMAC?
By the way, I originally opened the GMAC account to be my “fun fund,” but I don’t think I’m going to do that…one problem with a high interest yield account and the idea of a “fun fund,” is that you start wanting to put more money in it to save again…maybe my account should be at something that doesn’t pay as much interest…I may go back to my credit union.
Financial Freedumb & Brownie - A PF Blog » GMAC Transfer Speed & Opened My CD Ladder
August 8, 2006 at 10:36 am
[...] Shortest Ladder Ever? GMAC 6 Month CD Ladder, 5.5% APY.Evolution of the CD Ladder, One Small Change To the Way It’s Normally DoneShort Update On My GMAC Account… Well, I opened my GMAC account on July 20, 2006. Received my checks, ATM Card, about 1 week after. Also had to send a signed “signature card” back to them, but all materials were sent out before they received the card. [...]
Evolution of the CD Ladder, One Small Change To the Way It’s Normally Done « Financial Freedumb and Brownie
June 22, 2011 at 8:13 am
[...] you a safety buffer just in case. I haven’t done this yet, but when I open my next set of CDs at GMAC, I do plan to do this. What sucks since I wrote the last post? GMAC no longer has 6 month CDs [...]