Searching for a parking space at a crowded mall lot may throw a shopper looking for that last minute gift completely off.
For members and bank customers looking for safety and quick access to their money, the parking spaces these days might be far away from longer term certificates of deposit. A new Bankrate.com survey of the nation's 50 largest credit unions and banks revealed that consumers are still skittish about CDs that lock up funds for years.
The alternative for some, the survey's data showed, is rising-rate CDs. They tend to fall into three categories: step-up CDs, which rise at predetermined intervals during the course of the CD's term; liquid CDs, which allow investors to transfer money out of a CD to be reinvested in higher-rate CDs; and bump-up CDs, where holders can raise their rates a certain number of times during the CD's term.
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