This is good news. Some banks are now offering 4 percent interest rate on certificates of deposits. The CD suddenly looks like more than just a good place to park checks. Banks are now busy trying to one-up each other on rates to land customers. One can see this on ATM screens especially around the Washington area lately.

This rates may not that be eye-popping, but a 4 percent return over the next six months looks lucrative when you consider what the battering stocks are taking almost every day.

Certificates of Deposits are the safest investment since they are federally insured up to $250,000 and banks pay a fixed rate of interest for a fixed period of time some starting at 3 months. Banks are now willing to offer attractive rates even if it means smaller profits just to lure depositors and bolster their finances.

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