Highest APY cd's, how to find them?

Question

I frequently look at www.bankrate.com and www.money-rates.com trying to find the highest paying cd's, however I sometimes find that my local Kentucky area newspapers has ads from local banks that offer as high or higher rates than are shown on bankrate or money-rates.
Example: Right now, Lexington KY Guardian Savings Bank has ad that it is now offering in newspapers 5.60% APY for a 5-month $500 min. CD, and by calling Fifth Third Bank in my town I found 9-month, $500 min., that is paying 5.20% APY..........but bankrate nor money-rates is showing these good deals.
How can I find WHEN local banks are having these good deals, except by checking local newspapers or calling these local banks?

Answer 1

Maybe your local banks have a newsletter you can sign up for. Otherwise, it all depends on their advertising.

You could get at least 5% on a no min high-yield savings account online. Try HSBC or CapitalOne.

Answer 2

None of those are even remotely "good deals". Cds cost you purchasing power after taxes & inflation. Lose your obsession with them & learn how to actually move forward financially.