Fixed term CD interest rates

otaniemi · Post by **otaniemi** » Wed Feb 14, 2007 3:36 pm

Hi,

Does anyone happen to know which Finnish bank has the highest interest rate for the fixed term CD savings, such as six months, one year, two years? Thanks a lot!

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Turbomac · Post by **Turbomac** » Thu Feb 15, 2007 9:03 am

I don't usually pay interest on CD's.

I normally pay with my debit-card, or sometimes with cash, but other times I have to use my VISA, which does incur some interest if I dont pay it off straight away. I've never had to borrow money from a bank just for a CD.

What sort of CD's do you buy? Last one I bought was Prodigy's Greatest Hits ("Their Law")

sinikettu · Post by **sinikettu** » Thu Feb 15, 2007 9:20 am

otaniemi wrote:Hi,

Does anyone happen to know which Finnish bank has the highest interest rate for the fixed term CD savings, such as six months, one year, two years? Thanks a lot!

CD = Cerificate of Deposit savings...I think...
Are they available via Finnish banks is the first question to ask..??
Is it the same as "Term Deposit Savings"
This is what I find on the Nodea site.

http://www.nordea.lv/sitemod/default/in ... pid=902532

Väinämöinen · Post by **Väinämöinen** » Thu Feb 15, 2007 9:45 am

There are a variety of options. Some banks have better rates for smaller deposits, others may have better rates for what we would call a "jumbo CD" in America. Do you want something fixed term or something flexible like a money market mutual fund? Do you want to expose any of it to risk or keep it capital protected? If you have a lot of business with a particular bank - such as mortgages, insurance, your regular banking account - they may give you better than published rates for a fixed term deposit.

There are a lot of variables!

otaniemi · Post by **otaniemi** » Thu Feb 15, 2007 10:58 am

Thanks a lot for the kind replies. I also notice that some relatively small banks like Nooa bank or OKO bank could offer a little higher interest rate than large banks, e.g., Nordea bank bank. Just wonder if it is safe to deposit a large amount of money for a fixed term in those small banks? You know it is not permitted to draw the fixed term savings before they mature.

Hank W. · Post by **Hank W.** » Thu Feb 15, 2007 10:59 am

So you mean you have a spare 10 grand so you give it to the bank so they sit on it and then maybe pay you the 10 grand back if you are lucky... yeah, some banks even offer an interest, but its some fractional precentage, government obligations probably have a better rate...

Smaller banks you are right, something like Suupohjan Osuuspankki is bound to pay a fraction more than the big players. If you can touch the money in between depends on the small print, usually theres some moratoriums.

sinikettu · Post by **sinikettu** » Thu Feb 15, 2007 11:15 am

I suggest that you contact Väinämöinen by PM or e-mail..check his web site and profile you will see that...he is an expert..

Väinämöinen · Post by **Väinämöinen** » Thu Feb 15, 2007 4:22 pm

Yes, feel free to drop me a PM. I'd be glad to help.

thedamage · Post by **thedamage** » Tue Dec 11, 2007 9:25 pm

Is there a site which compares the rates of the banks' best interest rates for savers somewhere in Finnish cyberspace?

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