To my surprise, I just discovered my brick and mortar bank, TD Banknorth, was offering significantly better rates on 1 year CDs than the rates offered through ING Direct.
As part of my plan to redirect my emergency savings, I have been buying a $1,000 (12 month) CD every month since October. The idea is that I will eventually have a $1,000 CD maturing each month.
If I buy this month's CD from TD Banknorth instead of ING Direct, I will make an extra $10 per year.
My Plan: This month, I will probably purchase the CD from ING instead of TD Banknorth. If it is a one-time deal, having 11 CD's at ING and 1 and TD Banknorth would be a hassle. Nevertheless, I am going to monitor TD Banknorth's CD rates carefully. If they consistently beat ING over the coming months, I will probably move all the CD to TD Banknorth.