If you are looking for places to save money, you might want to consider investing in CDs.  While high interest savings accounts are still very attractive, bank CD rates are going up nationwide.  Now might be the time to invest your short-term savings into certificates of deposits.

Wachovia CD Rates

The Wachoiva CD rates for the Wachovia 12 month cd is now 4.15%.  This 4.15% is much higher than the interest rates on most high interest savings accounts.  In order to obtain the 4.15% Wachovia CD rates, you need to deposit at least $5,000.

Countrywide CD Rates

The Counrtywide CD rates for the Countrywide 12 month cd is now 3.90%.  You can also buy a Countrywide 7 month cd at 4.00%.  The minimum balance required to get these Countrywide CD rates is $10,000.

As you can see, comparing CD rates vs. saving account rates, the CD rates are better on average than the high interest savings accounts.  If you are looking to get a higher interest rate, now might be the time to go with certificates of deposits.