MY CD has APY of whopping 0.10%
2010-02-24
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.