Best CD rates thread

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goaties
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Re: Best CD rates thread

Post by goaties » Thu Jan 09, 2020 11:38 pm

jmk wrote:
Thu Jan 09, 2020 9:05 pm
SlowMovingInvestor wrote:
Tue Jan 07, 2020 2:27 pm
Is there any bank/CU that is at say the 75th percentile range ? The usual suspects (Ally, Marcus, Capital One, Purepoint) maybe ?
My go-to list of such banks/CDs includes: Andrews, Mountain America FCU, Live Oak bank and Connexu. In the last few years they've tended to be toward the top consistently, though different ones at different times.
TIAA bank promises to provide CD rates in the top 5%. Of course, these days that's a pretty low bar.
https://www.tiaabank.com/banking/cd

Best rate they offer right now is 2.15%.

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jeffyscott
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Re: Best CD rates thread

Post by jeffyscott » Fri Jan 10, 2020 7:31 am

goaties wrote:
Thu Jan 09, 2020 11:38 pm
jmk wrote:
Thu Jan 09, 2020 9:05 pm
SlowMovingInvestor wrote:
Tue Jan 07, 2020 2:27 pm
Is there any bank/CU that is at say the 75th percentile range ? The usual suspects (Ally, Marcus, Capital One, Purepoint) maybe ?
My go-to list of such banks/CDs includes: Andrews, Mountain America FCU, Live Oak bank and Connexu. In the last few years they've tended to be toward the top consistently, though different ones at different times.
TIAA bank promises to provide CD rates in the top 5%. Of course, these days that's a pretty low bar.
https://www.tiaabank.com/banking/cd

Best rate they offer right now is 2.15%.
If that's the 95th percentile, maybe the brokered ones are hitting the 75th?
Time is your friend; impulse is your enemy. - John C. Bogle

ilan1h
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Re: Best CD rates thread

Post by ilan1h » Wed Jan 15, 2020 8:47 pm

I'm interested in investing about 200K in a CD. The best rate that I've found is Andrews Credit Union which is offering 3.05% for 84 months. Anyone have any better suggestion than this?

EvelynTroy
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Re: Best CD rates thread

Post by EvelynTroy » Wed Jan 15, 2020 9:04 pm

ilan1h wrote:
Wed Jan 15, 2020 8:47 pm
I'm interested in investing about 200K in a CD. The best rate that I've found is Andrews Credit Union which is offering 3.05% for 84 months. Anyone have any better suggestion than this?
As long as you're good with investing the money for 7 years? Personally I just don't like going out that long.
Nonetheless, seems like a better deal- Affinity Plus Federal CU has a 5 year 3% CD - easy membership with $25 donation - Affinity has an A financial health rating. I didn't look at early withdrawal penalties, or any other details -
https://www.depositaccounts.com/banks/a ... -cu.html

Evelyn

anonsdca
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Re: Best CD rates thread

Post by anonsdca » Wed Jan 15, 2020 9:05 pm

jmk wrote:
Thu Jan 09, 2020 9:05 pm
SlowMovingInvestor wrote:
Tue Jan 07, 2020 2:27 pm
Is there any bank/CU that is at say the 75th percentile range ? The usual suspects (Ally, Marcus, Capital One, Purepoint) maybe ?
My go-to list of such banks/CDs includes: Andrews, Mountain America FCU, Live Oak bank and Connexu. In the last few years they've tended to be toward the top consistently, though different ones at different times.
Thank you for that. I will research these banks. I am actively looking.

ilan1h
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Re: Best CD rates thread

Post by ilan1h » Wed Jan 15, 2020 10:20 pm

EvelynTroy wrote:
Wed Jan 15, 2020 9:04 pm
ilan1h wrote:
Wed Jan 15, 2020 8:47 pm
I'm interested in investing about 200K in a CD. The best rate that I've found is Andrews Credit Union which is offering 3.05% for 84 months. Anyone have any better suggestion than this?
As long as you're good with investing the money for 7 years? Personally I just don't like going out that long.
Nonetheless, seems like a better deal- Affinity Plus Federal CU has a 5 year 3% CD - easy membership with $25 donation - Affinity has an A financial health rating. I didn't look at early withdrawal penalties, or any other details -
https://www.depositaccounts.com/banks/a ... -cu.html

Evelyn
Thanks for that suggestion. It really is the best deal that I've seen so far (and I've looked through many). However, it is possible that that rate is for IRA only (their website mentioned this). I did feel somewhat uncomfortable about the length of the 7 year Andrews CD and am impressed that Ally can offer 5 year at the same rate.

nalor511
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Re: Best CD rates thread

Post by nalor511 » Thu Jan 16, 2020 2:58 am

ilan1h wrote:
Wed Jan 15, 2020 10:20 pm
EvelynTroy wrote:
Wed Jan 15, 2020 9:04 pm
ilan1h wrote:
Wed Jan 15, 2020 8:47 pm
I'm interested in investing about 200K in a CD. The best rate that I've found is Andrews Credit Union which is offering 3.05% for 84 months. Anyone have any better suggestion than this?
As long as you're good with investing the money for 7 years? Personally I just don't like going out that long.
Nonetheless, seems like a better deal- Affinity Plus Federal CU has a 5 year 3% CD - easy membership with $25 donation - Affinity has an A financial health rating. I didn't look at early withdrawal penalties, or any other details -
https://www.depositaccounts.com/banks/a ... -cu.html

Evelyn
Thanks for that suggestion. It really is the best deal that I've seen so far (and I've looked through many). However, it is possible that that rate is for IRA only (their website mentioned this). I did feel somewhat uncomfortable about the length of the 7 year Andrews CD and am impressed that Ally can offer 5 year at the same rate.
Keesler FCU has 30 month 3.2% CD

EvelynTroy
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Re: Best CD rates thread

Post by EvelynTroy » Thu Jan 16, 2020 10:20 am

nalor511 wrote:
Thu Jan 16, 2020 2:58 am
ilan1h wrote:
Wed Jan 15, 2020 10:20 pm
EvelynTroy wrote:
Wed Jan 15, 2020 9:04 pm
ilan1h wrote:
Wed Jan 15, 2020 8:47 pm
I'm interested in investing about 200K in a CD. The best rate that I've found is Andrews Credit Union which is offering 3.05% for 84 months. Anyone have any better suggestion than this?
As long as you're good with investing the money for 7 years? Personally I just don't like going out that long.
Nonetheless, seems like a better deal- Affinity Plus Federal CU has a 5 year 3% CD - easy membership with $25 donation - Affinity has an A financial health rating. I didn't look at early withdrawal penalties, or any other details -
https://www.depositaccounts.com/banks/a ... -cu.html

Evelyn
Thanks for that suggestion. It really is the best deal that I've seen so far (and I've looked through many). However, it is possible that that rate is for IRA only (their website mentioned this). I did feel somewhat uncomfortable about the length of the 7 year Andrews CD and am impressed that Ally can offer 5 year at the same rate.
Keesler FCU has 30 month 3.2% CD
I'd jump on that 30 mo. 3.2% CD if I had extra money now. I briefly checked, and its easy nationwide membership, i.e. American Cancer Society.

https://www.depositaccounts.com/banks/keesler-cu.html

rvok77
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Re: Best CD rates thread

Post by rvok77 » Thu Jan 16, 2020 10:45 am

Does anyone know if Keesler FCU does a hard or soft pull? Thanks!

nalor511
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Re: Best CD rates thread

Post by nalor511 » Thu Jan 16, 2020 1:09 pm

rvok77 wrote:
Thu Jan 16, 2020 10:45 am
Does anyone know if Keesler FCU does a hard or soft pull? Thanks!
Hard pull, equifax, transunion (if equifax is locked)

ilan1h
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Re: Best CD rates thread

Post by ilan1h » Thu Jan 16, 2020 3:20 pm

I have just had to unfreeze my experian freeze to get this done. Be aware that even though I did a temp unfreeze with experian (online) the credit union was still unable to read my credit even 2 hours later. Therefore, I suspect that it may take several hours or perhaps a day or more.

taurabora
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Re: Best CD rates thread

Post by taurabora » Thu Jan 16, 2020 9:07 pm

SlowMovingInvestor wrote:
Sun Jan 05, 2020 7:36 pm
So if it's (say) 0.4%, you would get the Treasury.
That premium almost certainly exceeds the state tax bite. Is the rest the premium you're paying for liquidity ?
I don’t have state taxes, so that isn’t a consideration. So yes, I’ve generally been able to get a 0.5% “small investor”/liquidity premium. Not in about a year, though. No one seems to be willing to issue Call-Protected CDs longer than 5 year term. Premium has been low for a while, so I’m just holding extra money in bond funds instead.

Scooter57
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Re: Best CD rates thread

Post by Scooter57 » Fri Jan 17, 2020 8:58 am

I'm cheered by the persistence of credit union CD rates over 3%. Like many of you here, I'm looking forward to quite a few 4 and 5 yr CDs maturing over this coming year and hope these rates keep coming. It would be even better if some of the stars of the past 4 or 5 years like NASA CU and PenFed became rate leaders again. I can only hope...

MathIsMyWayr
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Re: Best CD rates thread

Post by MathIsMyWayr » Fri Jan 17, 2020 9:10 am

After all the fed and state income taxes, 3% interest will come down under 1.9%. I am sure whether it will fall behind the inflation rate.

ilan1h
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Re: Best CD rates thread

Post by ilan1h » Fri Jan 17, 2020 12:10 pm

Based on the outlook for interest rates and no projected need for the money, is it more advantageous to get a shorter or longer CD? I can get either a 30 month or an 84 month CD for the same rate (3.0%). My logic is that rates may start rising within the next few years and I may be able to find better rates when that happens. If I tie up money for 84 months there is a reasonable chance that I could miss that opportunity. I currently own a 3% 84 month CD at Andrews Federal Credit Union and have owned it for about 5 years. During this time I haven't "missed out" on any better CD opportunities. And even now as I am looking to park new money I still don't see anything better than that rate.

hudson
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Re: Best CD rates thread

Post by hudson » Fri Jan 17, 2020 12:26 pm

ilan1h wrote:
Fri Jan 17, 2020 12:10 pm
Based on the outlook for interest rates and no projected need for the money, is it more advantageous to get a shorter or longer CD? I can get either a 30 month or an 84 month CD for the same rate (3.0%). My logic is that rates may start rising within the next few years and I may be able to find better rates when that happens. If I tie up money for 84 months there is a reasonable chance that I could miss that opportunity. I currently own a 3% 84 month CD at Andrews Federal Credit Union and have owned it for about 5 years. During this time I haven't "missed out" on any better CD opportunities. And even now as I am looking to park new money I still don't see anything better than that rate.
Nobody knows where rates are going. I would personally go with 5 years or less...for no good reason except that 7 years is a long time.

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Kevin M
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Re: Best CD rates thread

Post by Kevin M » Fri Jan 17, 2020 2:21 pm

MathIsMyWayr wrote:
Fri Jan 17, 2020 9:10 am
After all the fed and state income taxes, 3% interest will come down under 1.9%. I am sure whether it will fall behind the inflation rate.
OK, but 3% after taxes is better than 2% (or less) after taxes. In other words, the same argument applies to all fixed income at current yields, but even more so to brokered products than to the best direct CD deals.

Kevin
Wiki ||.......|| Suggested format for Asking Portfolio Questions (edit original post)

jmk
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Re: Best CD rates thread

Post by jmk » Fri Jan 17, 2020 5:07 pm

MathIsMyWayr wrote:
Fri Jan 17, 2020 9:10 am
After all the fed and state income taxes, 3% interest will come down under 1.9%. I am sure whether it will fall behind the inflation rate.
That's why this year I'm paying down my 3% mortgage instead of getting CDs.

Scooter57
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Re: Best CD rates thread

Post by Scooter57 » Fri Jan 17, 2020 9:54 pm

Ladder your CDs and then you always have money available to take advantage of better rates. A five year ladder has worked well for me, though some rungs are bigger than others as I took advantage of extremely good rates now and then.

There was a brief, glorious period at the end of 2018 when there were much better rates than 3%. I am glad I had a ladder with a lot coming due then.

MathIsMyWayr
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Re: Best CD rates thread

Post by MathIsMyWayr » Fri Jan 17, 2020 10:19 pm

Kevin M wrote:
Fri Jan 17, 2020 2:21 pm
MathIsMyWayr wrote:
Fri Jan 17, 2020 9:10 am
After all the fed and state income taxes, 3% interest will come down under 1.9%. I am sure whether it will fall behind the inflation rate.
OK, but 3% after taxes is better than 2% (or less) after taxes. In other words, the same argument applies to all fixed income at current yields, but even more so to brokered products than to the best direct CD deals.

Kevin
It is hard to, but have to, put money in with a full expectation that it will likely fall behind the inflation.

nalor511
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Re: Best CD rates thread

Post by nalor511 » Fri Jan 17, 2020 11:29 pm

MathIsMyWayr wrote:
Fri Jan 17, 2020 10:19 pm
Kevin M wrote:
Fri Jan 17, 2020 2:21 pm
MathIsMyWayr wrote:
Fri Jan 17, 2020 9:10 am
After all the fed and state income taxes, 3% interest will come down under 1.9%. I am sure whether it will fall behind the inflation rate.
OK, but 3% after taxes is better than 2% (or less) after taxes. In other words, the same argument applies to all fixed income at current yields, but even more so to brokered products than to the best direct CD deals.

Kevin
It is hard to, but have to, put money in with a full expectation that it will likely fall behind the inflation.
Just find the best rate, for the shortest time, with the least penalty in case you have to withdraw, and move on :)

protagonist
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Re: Best CD rates thread

Post by protagonist » Sat Jan 18, 2020 3:07 pm

goaties wrote:
Thu Jan 09, 2020 11:38 pm
jmk wrote:
Thu Jan 09, 2020 9:05 pm
SlowMovingInvestor wrote:
Tue Jan 07, 2020 2:27 pm
Is there any bank/CU that is at say the 75th percentile range ? The usual suspects (Ally, Marcus, Capital One, Purepoint) maybe ?
My go-to list of such banks/CDs includes: Andrews, Mountain America FCU, Live Oak bank and Connexu. In the last few years they've tended to be toward the top consistently, though different ones at different times.
TIAA bank promises to provide CD rates in the top 5%. Of course, these days that's a pretty low bar.
https://www.tiaabank.com/banking/cd

Best rate they offer right now is 2.15%.
I've used SFGI for many (5-10?) years and they have been consistently near the top. The last I checked they were slightly under 2%. Transfers to and from Fidelity have always been efficient and have been completed by the next working day if not the same day. No issues really.
http://www.sfgidirect.com/Default.aspx

nalor511
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Re: Best CD rates thread

Post by nalor511 » Sat Jan 18, 2020 4:33 pm

Guys you can do way better than 2%. check depositaccounts.com for details.

SpideyIndexer
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Re: Best CD rates thread

Post by SpideyIndexer » Sat Feb 01, 2020 2:01 pm

Seems rates have dropped this February. Many of the attractive promo rates no longer appear. ~2-2.2% for 15-18 months now is about the best I see.

nalor511
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Re: Best CD rates thread

Post by nalor511 » Sat Feb 01, 2020 2:42 pm

SpideyIndexer wrote:
Sat Feb 01, 2020 2:01 pm
Seems rates have dropped this February. Many of the attractive promo rates no longer appear. ~2-2.2% for 15-18 months now is about the best I see.
18mo - 2.75%
2yr - 2.9%

What rates you can actually get depend where you are, and whether you're willing to jump through $10 association loopholes, etc. https://www.depositaccounts.com/cd/

Play with the amount and location dropdowns (you can set location to "any", and some of these have association eligibility, etc)

friar1610
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Re: Best CD rates thread

Post by friar1610 » Wed Feb 05, 2020 9:26 pm

2 new "deals" from Navy Federal CU for those who are eligible:

- 17 month 2.25%

- 37 month IRA/ESA only 3%

Either can be opened for a minimum of $50 and added to up to $75K (17 mo) or $150K (37 mo IRA/ESA)

So you could open one now and add to it when/if you have the money later.

Membership eligibility: https://www.navyfederal.org/membership/ ... 10/19/2017|||
Friar1610

EvelynTroy
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Re: Best CD rates thread

Post by EvelynTroy » Wed Feb 12, 2020 1:42 pm

I noticed today what looks to me like a nice 60 mo. Jumbo Step-Up CD (2.99% AYP) CD - Fort Bragg Fed. CU - easy membership, but its $40 ( for 2 years, not sure what that means, i.e. do you have to send another $40 after 2 years of holding a 60 mo. CD?) If you have military relationship, no membership fee.
Not only is it a very competitive rate, it’s the highest APY offered on a nationally available 5-year CD. The Step-Up option allows for one rate increase at any time during the term, should rates increase. The minimum opening deposit is $25k, with no stated balance cap. The non-Jumbo version of the Step-Up CD earns 2.89% APY and requires only a $5k minimum opening deposit.
Details: https://www.depositaccounts.com/banks/ ... cu/offers/

My question please: What is your opinion of going out 5 years with this interest rate?

I had a brokered CD called with proceeds arriving in my Schwab acct. 2/19 - don't know if its best to do this Fort Bragg CD or some sort of safe, short-term bond ETF? This is an IRA CD, and in my IRA acct. I hold Schwab U.S. Aggregate Bond ETF SCHZ (Intermediate Core Bond). Expense Ratio of 0.04%,
Duration 5.76 yrs. SEC Yield 2.23%. Maybe just move the CD proceeds into SCHZ. Any thoughts on where to reinvest the CD proceeds.

Thanks, hope this CD offering is of interest.
Evelyn

hudson
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Re: Best CD rates thread

Post by hudson » Wed Feb 12, 2020 5:42 pm

EvelynTroy wrote:
Wed Feb 12, 2020 1:42 pm
Thanks, hope this CD offering is of interest.
Evelyn
Thanks Evelyn!
I don't need a CD right now but I had to look it up because I lived in the area...Skibo...for 18 months. I rented in Skibo, but slept on the sand and pine needles a few miles to the west.
Rates:
https://www.fortbraggfcu.org/savings-rates

Membership:
https://onlineapps.fortbraggfcu.org/IMS ... ccount-app#
Page 1...requirements; click BEGIN to see ELIGIBILITY
I'd have to join the association for $40 to join.

Pikel
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Re: Best CD rates thread

Post by Pikel » Sat Feb 22, 2020 4:13 pm

Just want to throw my experience out there.

I used bankrates and depositaccounts which gave me a good baseline on what CD rates are available right now.

Ultimately, we found much better rates at a local credit union (Americu for several counties in upstate NY). I'm doing a 5 year ladder which will average out to 2.62%. Compared with short or intermediate term bond funds, nothing else out there comes close to this. Intermediate term corporate bond (VCIT) is yielding less at 2.43%.

Anyway, my point is just don't forget to look locally. Even if you have to drive an hour or two it's probably worth your time.

Scooter57
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Re: Best CD rates thread

Post by Scooter57 » Sat Feb 22, 2020 9:54 pm

I agree it is worth looking locally, which is how I invested for decades, but I have started reviewing the financials of local CUs and have found that they are mostly so small that a large CD investment, even if covered by the NCUA thanks to multiple POD accounts, could be too big a part of their entire holding. The small CUs I used to invest in were all rated B or B- on depositaccounts.com which I now see as a red flag.

Very small CUs have often been the ones that fail, so that could be an issue if the economy ran into serious trouble. I feel more comfortable investing now in large CUs with very solid ratings, A or A+ and larger capitalizations. If you have them locally, go for it. I have bought one 3.5% CD locally this past year, but that is "local" an hour away, not in our county seat 5 minutes away.

EvelynTroy
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Re: Best CD rates thread

Post by EvelynTroy » Sat Feb 29, 2020 8:08 am

Perhaps of interest to readers - seems Freedom Northwest CU (Idaho), easy membership is offering some top rates:
Share Certificates, 12-month (2.45% APY), 24-month (2.55% APY), 36-month (2.80% APY), 48-month (2.85% APY), and 60-month (3.20% APY), $1k minimum.
https://www.depositaccounts.com/banks/f ... n/offers/

Mr. Tumin doesn't think these rates will last long.

Hope this is helpful. Evelyn

UncleBen
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Re: Best CD rates thread

Post by UncleBen » Wed Mar 04, 2020 2:12 pm

friar1610 wrote:
Wed Feb 05, 2020 9:26 pm
2 new "deals" from Navy Federal CU for those who are eligible:

- 17 month 2.25%

- 37 month IRA/ESA only 3%

Either can be opened for a minimum of $50 and added to up to $75K (17 mo) or $150K (37 mo IRA/ESA)

So you could open one now and add to it when/if you have the money later.

Membership eligibility: https://www.navyfederal.org/membership/ ... 10/19/2017|||
These are still available as of this afternoon. Not bad to open for $50 as a place holder after yesterday's rate cut and a possible additional cut.

dphilipps
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Re: Best CD rates thread

Post by dphilipps » Wed Mar 04, 2020 2:17 pm

Freedom Northwest is offering a 3.2% APY 5-year CD. Credit union is open to anyone with a $20 donation.

It sounds too good to be true, that's why I've opened a new thread asking for thoughts: viewtopic.php?f=1&t=305883&newpost=5064 ... ead#unread.

Very small asset base, but says it's NCUA-insured and has excellent Texas ratio.

nalor511
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Re: Best CD rates thread

Post by nalor511 » Wed Mar 04, 2020 3:46 pm

Lack of shared branching with other CUs kills it for me, rather get 3% from Andrews, and get shared branching (don't have to mess around with wires or ACH limits/timelines)

Scooter57
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Re: Best CD rates thread

Post by Scooter57 » Wed Mar 04, 2020 7:37 pm

I have stayed away from very small CUs that don't allow online applications, even though it meant missing some top rates. Very high rates have been offered in the past by CUs in trouble, like Melrose. The TR sounds good, but things can change very fast, especially with poor management.

It is like anything else, you have to be careful of "too good to be true." Large CUs with solid histories are a better bet. That said, in the past I invested with a tiny local CU that I didn't know was tiny, and came to learn my CD was a significant chunk of the money they had to lend. I got my money back just fine 5 years later, but would never put a big chunk in a tiny institution again. Deposit accounts.com makes it possible to check on the size and other numbers.

Gotta say this latest rate cut is a real kick in the goolies for all retirees who don't want to gamble their life savings.

hudson
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Re: Best CD rates thread

Post by hudson » Thu Mar 05, 2020 7:13 pm

EvelynTroy wrote:
Sat Feb 29, 2020 8:08 am
Perhaps of interest to readers - seems Freedom Northwest CU (Idaho), easy membership is offering some top rates:
Share Certificates, 12-month (2.45% APY), 24-month (2.55% APY), 36-month (2.80% APY), 48-month (2.85% APY), and 60-month (3.20% APY), $1k minimum.
https://www.depositaccounts.com/banks/f ... n/offers/

Mr. Tumin doesn't think these rates will last long.

Hope this is helpful. Evelyn
Many thanks Evelyn!!
The 3.2% deal is over from FNWCU. I think I made it in under the wire. They said that they were swamped.
Good folks to deal with!
Update: The rate is actually 3.162%. I guess that you have to reinvest interest to make it to 3.2%. I opted to put the quarterly interest in savings so I could pull it up to Vanguard.
Last edited by hudson on Wed Mar 11, 2020 7:07 am, edited 2 times in total.

EvelynTroy
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Re: Best CD rates thread

Post by EvelynTroy » Thu Mar 05, 2020 7:31 pm

So glad it worked out for you Hudson. You're more than welcome.
Evelyn

mav12
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Re: Best CD rates thread

Post by mav12 » Thu Mar 05, 2020 11:04 pm

Love scripts, where did you learn them? I'm trying to pick the skill as well.
Ricchan wrote:
Sat Oct 26, 2019 1:16 pm
I wrote a script to calculate the cost in terms of additional days of lost interest for any given starting day for any given time period. Click the "run" button at the top of the page produce output. https://repl.it/@ricchan/RecurringContributionDay

For each starting day (e.g. 2019-10-31), it prints two lines. The first is a list of single letter abbreviations for which day of the week the recurring date falls into each month. "R" is Thursday, "U" is Sunday. The second is a list of the number of additional days of lost interest, assuming the funds need to arrive in the non-interest bearing account the day before the recurring transaction. So, for Sunday, the cost is 1; Monday is 2; all other days are 0.

The total cost of additional days of lost interest for each starting date is shown at the start of the second line.

You can tweak the script by changing any of the variables. Some that might be of interest are:
  • date_first: The first date candidate to consider. I use 10/31/2019. You can change it to e.g. 11/01/2019 if you don't care about October.
  • date_max: Basically the maturity date of the CD. I use 10/30/2022 for the 3 year CD.
I didn't consider holidays because it would require importing some library that has knowledge of not only the holidays, but also which ones are considered banking holidays. Either that, or manually add them in. Both of those sound like a pain to me, but if anyone knows of a better way to do it (or is willing to just do it themselves), feel free to fork/edit the code and share. :)
[/quote]

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Ricchan
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Re: Best CD rates thread

Post by Ricchan » Fri Mar 06, 2020 10:19 am

mav12 wrote:
Thu Mar 05, 2020 11:04 pm
Love scripts, where did you learn them? I'm trying to pick the skill as well.
Basic programming concepts from college courses, specific language syntax and environments from work, side projects, and a lot of googling.

DB2
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Re: Best CD rates thread

Post by DB2 » Fri Mar 06, 2020 10:27 am

Scooter57 wrote:
Wed Mar 04, 2020 7:37 pm


Gotta say this latest rate cut is a real kick in the goolies for all retirees who don't want to gamble their life savings.
I'm expecting at least another 50 basis pt cut later this month.

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Ricchan
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Re: Best CD rates thread

Post by Ricchan » Fri Mar 06, 2020 12:16 pm

A lot of banks will be lowering their savings rates as well. The first indication I've seen of this is Wealthfront dropping the rate on their CMA from 1.78% to 1.27% earlier this week.

Ally has a special 13 month "Select CD" offer going on this month. I was thinking about sharing it here a couple days ago when it was at 2.10%, but I decided not to since it didn't seem all that special. I just checked, and it's now at 2.00%. Sigh.

Pikel
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Re: Best CD rates thread

Post by Pikel » Fri Mar 06, 2020 12:26 pm

Our local CU dropped rates March 1st and just dropped them again today. In the last week the 5 year rate went 2.9% -> 2.5% -> 1.8%

Treasury yield curve is acting like another 50 basis cut from the fed.

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zaplunken
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Re: Best CD rates thread

Post by zaplunken » Fri Mar 06, 2020 6:47 pm

Ricchan wrote:
Fri Mar 06, 2020 12:16 pm
A lot of banks will be lowering their savings rates as well. The first indication I've seen of this is Wealthfront dropping the rate on their CMA from 1.78% to 1.27% earlier this week.

Ally has a special 13 month "Select CD" offer going on this month. I was thinking about sharing it here a couple days ago when it was at 2.10%, but I decided not to since it didn't seem all that special. I just checked, and it's now at 2.00%. Sigh.
Wow I just closed a 1.9% No Penalty CD and got the one you mentioned 2 days ago at 2.1 cuz I can see the hand writing on the wall.

I have an Ally CD that matures 3/27, it's yield is 2.75%. I'm concerned how far rates will drop in the next 3 weeks, bad timing. :confused

international001
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Re: Best CD rates thread

Post by international001 » Wed Mar 11, 2020 6:42 am

Given how low the rates became in the past few weeks, why are Ally's (and other) CDs did not go down yet?

So CDs look miss-priced for the advantage of the consumer. Is it a deal to lock in just because they didn't react quickly?
Same history than I-bonds: https://seekingalpha.com/article/433052 ... ime-to-buy

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zaplunken
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Re: Best CD rates thread

Post by zaplunken » Wed Mar 11, 2020 7:15 am

I think Ally is slower to drop rates to attract money but I could be wrong.

MikeG62
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Re: Best CD rates thread

Post by MikeG62 » Sun Mar 22, 2020 6:53 am

UncleBen wrote:
Wed Mar 04, 2020 2:12 pm
friar1610 wrote:
Wed Feb 05, 2020 9:26 pm
2 new "deals" from Navy Federal CU for those who are eligible:

- 17 month 2.25%

- 37 month IRA/ESA only 3%

Either can be opened for a minimum of $50 and added to up to $75K (17 mo) or $150K (37 mo IRA/ESA)

So you could open one now and add to it when/if you have the money later.

Membership eligibility: https://www.navyfederal.org/membership/ ... 10/19/2017|||
These are still available as of this afternoon. Not bad to open for $50 as a place holder after yesterday's rate cut and a possible additional cut.
Still available as of today - see here:

https://www.navyfederal.org/products-se ... -rates.php

I opened both the 37 and 17 month promo CD's in the last two weeks. Membership is a lot easier than you'd think too.
Real Knowledge Comes Only From Experience

Scooter57
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Re: Best CD rates thread

Post by Scooter57 » Sun Mar 22, 2020 9:53 am

CIT Bankn a 1.70% no penalty 11 month CD that might be a good place to park money. The only issue I had with them was that they did an immediate pull of the funds from the account I was funding from, unlike most places that give you the option to fund the CD a few days after opening it.

I am parking money there that had been in my Prime Money Market fund for a possible new home purchase.

jaqenhghar
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Re: Best CD rates thread

Post by jaqenhghar » Sun Mar 22, 2020 11:08 am

Following with interest (pun intended). :sharebeer

peke9898
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Re: Best CD rates thread

Post by peke9898 » Fri Mar 27, 2020 10:58 am

Any good CD rates? Bad timing but I have a CD maturing.

dollarsaver
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Re: Best CD rates thread

Post by dollarsaver » Fri Mar 27, 2020 11:20 am

peke9898 wrote:
Fri Mar 27, 2020 10:58 am
Any good CD rates? Bad timing but I have a CD maturing.

Check Navy Federal if still offering CD Specials they had earlier this week.

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