High Yield CDs (Certificates of Deposits) are a safe and easy way to lock your money away for months at a time and know that you are going to bank some type of return even if it may be small, knowing that there is no risk  provided you go with a FDIC Insured institution.

Investing using CDs is a subject I have been writing about since 2007 at theStockMasters.com.  I favor the 3, 6, or 9 month option CDs so as not to lock your precious money away for too long, you wouldn't want to miss out on a good opportunity investing in securities should the moment strike.  However in the summer of 2009 the CD investing options are bleak at best, offering very low APY's, thus leaving your money tucked under your mattress may warrant a higher return.

Currently Americans are saving more and more, but CD rates continue to drop, which is down right senseless as U.S. Financial Institutions could be harnessing the massive stock piles of cash by offering consumers better CD rates, thus keeping that money source under their control and allowing the Banks to keep the cash on hand longer.  Here are some fun tidbits regarding CD rates as of July 2nd, 2009:

Six-month CD fell to 0.85% from 0.87% — the lowest average since Bankrate began tracking 6-month CD rates in January 1984.

One-year CD fell to 1.15% from 1.16% — the lowest it’s been since April 2004.

Two-year CD rose to 1.53% from 1.47%. That’s a little higher than the 52-week low reached earlier this month. But taking a longer-term look, this is the lowest 24-month CDs have been since August 2003.

Let's face it, until CD rates start to rise, there's not much incentive to lock your money away for months if not years at a time.  Here are some CD related offers by our sponsors, take it or leave it:

About the only CD offer I would consider today would be Ally Bank's 2.3% 12 Month CD - click to review the offer.  Of course the fact that Ally Bank is just a re-branded GMAC Bank is a bit silly.  Hey, we're not GMAC Bank anymore, no way, forget that we have any affiliation with General Motors (GM), let's call the business... Ally Bank.

As of July 2nd, 2009, here are Ally's CD Offerings:

Happy Safe Investing.