Safe and a decent risk free investment

Before Fed Chairman started cutting interest rate out of stocks, mutual funds and ETF's one of the most promising and safe bets was to invest in a CD.

Better than a fixed CD was a risk free CD. A risk free CD is just like a savings account where you can withdraw amount (limited) from your CD account. Isnt that convinient ?

What could be better than that ? A savings account which has rate comparable to a CD and you can withdraw money whenver you want. At that time the interest rate offered was 5.00%+ Considering my stock and fund investments it was a decent investment to make.

Now that US economy is facing all these challenges and Fed has cut interest rates so many times, all bank deposit interest rate had to go down. Interest on my account went from 5+ to 3%. I was happy to find out that this interest rate has been revised to 3.5% Isnt that nice ?

How do you compare available interest rates? www.bankrate.com gives this option. What account I was using for online savings. HSBC Direct gives that option. Finally something with little risk and sure enough decent returns.

Hope this was informative.