Best CD rates thread

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hudson
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Gateway First Bank 1 to 5 Year CD 1.92% 25K Minimum

Post by hudson » Tue Mar 31, 2020 5:57 am

Today, this is the best that I could find...https://www.gatewayfirst.com/PERSONAL-BANKING/Rates

Gateway First Bank
Member FDIC
2.02% APY ....actual 1.92%
5 yrs Term
Offer rate as of 3/31/2020
Minimum Deposit $25000

From the rating sheet today...https://www.gatewayfirst.com/Portals/Ga ... -Sheet.pdf
Consumer deposit accounts not available in the following states: Alaska, California, Georgia, Hawaii, Illinois, Maine,
Massachusetts, Montana, New Hampshire, New York, Rhode Island, Vermont.

GlennK
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Re: Best CD rates thread

Post by GlennK » Tue Mar 31, 2020 6:47 am

peke9898 wrote:
Fri Mar 27, 2020 10:58 am
Any good CD rates? Bad timing but I have a CD maturing.
Live Oak Bank: 1 year CD at 1.9%. But that is not much better than their savings rate of 1.75%.
Marcus (Goldman Sachs): 1 year CD 1.85%.

I consistently find these two at or near the top every time I look to renew a CD. And I am pretty sure that both can be set up to deposit the CD into your savings when they mature (I know Live Oak can, pretty sure about Marcus).

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zaplunken
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Re: Best CD rates thread

Post by zaplunken » Tue Mar 31, 2020 7:55 am

I just heard an ad on the radio. Marcus has a 7 month No Penalty CD with a $500 min. There was a lot of fast talking excuses at the end but I heard the rate could change so if interested I'd apply fast cuz it sounded like the rate might change before you can fund it! :oops: :shock:

peke9898
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Re: Best CD rates thread

Post by peke9898 » Tue Mar 31, 2020 8:25 am

Done! Thank You every one for your help.

EvelynTroy
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Re: Best CD rates thread

Post by EvelynTroy » Fri Apr 10, 2020 10:30 am

Hughes Federal CU has a rate leading 36 month Jumbo CD - easy membership. I have an IRA CD that I opened with them 10/2019 and found them to be very easy, and professional to work with. There were no glitches or problems when I purchased the CD.

There is also a 24 mo. IRA CD with slightly different rates.

36-month CDs – Jumbo, 2.22% APY, $99k;
Mini-Jumbo, 2.12% APY,
$50k; and CD, 2.02% APY, $1k.

https://www.depositaccounts.com/banks/hughes-cu/offers/

Stay safe - Evelyn

hudson
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Joined: Fri Apr 06, 2007 9:15 am

Re: Best CD rates thread

Post by hudson » Fri Apr 10, 2020 11:09 am

EvelynTroy wrote:
Fri Apr 10, 2020 10:30 am
Hughes Federal CU has a rate leading 36 month Jumbo CD - easy membership. I have an IRA CD that I opened with them 10/2019 and found them to be very easy, and professional to work with. There were no glitches or problems when I purchased the CD.

There is also a 24 mo. IRA CD with slightly different rates.

36-month CDs – Jumbo, 2.22% APY, $99k;
Mini-Jumbo, 2.12% APY,
$50k; and CD, 2.02% APY, $1k.

https://www.depositaccounts.com/banks/hughes-cu/offers/

Stay safe - Evelyn
Thanks Evelyn!
I looked it up...anyone can join for $10...here are all of Hughes' rates
https://www.hughesfcu.org/rates-and-fees

EvelynTroy
Posts: 424
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Re: Best CD rates thread

Post by EvelynTroy » Fri Apr 10, 2020 11:31 am

You're welcome Hudson. Yes, very easy membership to this CU. I was just looking at my 2019 CD - 36 month IRA CD - matures 9/23/2022 @ 3.10% - that was a good promotion. I will in all likilihood purchase one of these that are currently being offered.

Evelyn

Bfwolf
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Re: Best CD rates thread

Post by Bfwolf » Mon Apr 13, 2020 8:47 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|||
Navy Federal is still advertising the 3% 37 month IRA certificate. With 3 year Treasury rates at .31%, this is an incredible deal, right?

hudson
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BrixDirect by Cross River...a Bank 2.08% TWO YEAR CD

Post by hudson » Mon Apr 13, 2020 8:48 pm

The best 2 year CD that I could find...
BrixDirect by Cross River...a Bank 2.08% TWO YEAR CD
https://brixdirect.com/

PenAir Federal Credit Union has a 2.2% 5 Year CD...anyone can join.

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VictoriaF
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Re: Best CD rates thread

Post by VictoriaF » Mon Apr 13, 2020 9:14 pm

Bfwolf wrote:
Mon Apr 13, 2020 8:47 pm
Navy Federal is still advertising the 3% 37 month IRA certificate. With 3 year Treasury rates at .31%, this is an incredible deal, right?
I agree that it's a great value. My problem is that between this and another NFCU IRA CD I am already at $250k.

Victoria
WINNER of the 2015 Boglehead Contest. | Every joke has a bit of a joke. ... The rest is the truth. (Marat F)

ilan1h
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Re: Best CD rates thread

Post by ilan1h » Mon Apr 13, 2020 10:12 pm

The Navy Federal deal is so good I'm tempted to join the service! At 3.1% it's at least 0.88 basis points above anything else.

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gmtret
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Location: N. Carolina

Re: Best CD rates thread

Post by gmtret » Mon Apr 13, 2020 10:58 pm

Go Navy! And as a vestige, NFCU! :D
"The most beautiful thing we can experience is the mysterious. It is the source of all true art and science." | - Albert Einstein

EvelynTroy
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Re: BrixDirect by Cross River...a Bank 2.08% TWO YEAR CD

Post by EvelynTroy » Tue Apr 14, 2020 6:56 am

hudson wrote:
Mon Apr 13, 2020 8:48 pm
The best 2 year CD that I could find...
BrixDirect by Cross River...a Bank 2.08% TWO YEAR CD
https://brixdirect.com/

PenAir Federal Credit Union has a 2.2% 5 Year CD...anyone can join.
Hudson, Thank you for heads-up on BrixDirect CD. I was looking on the website and there is also a 1 year 2.28% CD. I just don't know if its a better idea to go shorter-term for 1 yr. or will these horribly low rates persist to or beyond 2 yrs. Anyone have any thoughts?
I've also never purchased a CD at an internet bank - looks like this one is backed by a brick and mortar - both have good financial strength ratings at depositaccounts.com
Evelyn

hudson
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Re: Best CD rates thread

Post by hudson » Tue Apr 14, 2020 7:20 am

ilan1h wrote:
Mon Apr 13, 2020 10:12 pm
The Navy Federal deal is so good I'm tempted to join the service! At 3.1% it's at least 0.88 basis points above anything else.
Membership.... https://www.navyfederal.org/membership/ ... 10/19/2017|||

krafty81
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Location: San Diego, CA

Re: Best CD rates thread

Post by krafty81 » Tue Apr 14, 2020 7:35 am

Jumped on the NFCU CD. Easy.

dollarsaver
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Re: Best CD rates thread

Post by dollarsaver » Tue Apr 14, 2020 8:38 am

krafty81 wrote:
Tue Apr 14, 2020 7:35 am
Jumped on the NFCU CD. Easy.
Be mindful of the max $250K on IRA's for credit union insurance.

dollarsaver
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Re: Best CD rates thread

Post by dollarsaver » Tue Apr 14, 2020 8:40 am

VictoriaF wrote:
Mon Apr 13, 2020 9:14 pm
Bfwolf wrote:
Mon Apr 13, 2020 8:47 pm
Navy Federal is still advertising the 3% 37 month IRA certificate. With 3 year Treasury rates at .31%, this is an incredible deal, right?
I agree that it's a great value. My problem is that between this and another NFCU IRA CD I am already at $250k.

Victoria
Me too. Have an IRA CD at Navy too. Hesitant to go over $250K with this new one.

MikeG62
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Location: New Jersey

Re: Best CD rates thread

Post by MikeG62 » Tue Apr 14, 2020 9:03 am

EvelynTroy wrote:
Fri Apr 10, 2020 10:30 am
Hughes Federal CU has a rate leading 36 month Jumbo CD - easy membership. I have an IRA CD that I opened with them 10/2019 and found them to be very easy, and professional to work with. There were no glitches or problems when I purchased the CD.

There is also a 24 mo. IRA CD with slightly different rates.

36-month CDs – Jumbo, 2.22% APY, $99k;
Mini-Jumbo, 2.12% APY,
$50k; and CD, 2.02% APY, $1k.

https://www.depositaccounts.com/banks/hughes-cu/offers/

Stay safe - Evelyn
Any idea how willing they are to honor current rates while application is in process and fund transfer is underway?
Real Knowledge Comes Only From Experience

EvelynTroy
Posts: 424
Joined: Sat Jun 07, 2008 8:35 am

Re: Best CD rates thread

Post by EvelynTroy » Tue Apr 14, 2020 9:27 am

MikeG62 wrote:
Tue Apr 14, 2020 9:03 am
EvelynTroy wrote:
Fri Apr 10, 2020 10:30 am
Hughes Federal CU has a rate leading 36 month Jumbo CD - easy membership. I have an IRA CD that I opened with them 10/2019 and found them to be very easy, and professional to work with. There were no glitches or problems when I purchased the CD.

There is also a 24 mo. IRA CD with slightly different rates.

36-month CDs – Jumbo, 2.22% APY, $99k;
Mini-Jumbo, 2.12% APY,
$50k; and CD, 2.02% APY, $1k.

https://www.depositaccounts.com/banks/hughes-cu/offers/

Stay safe - Evelyn
Any idea how willing they are to honor current rates while application is in process and fund transfer is underway?
No, I would give them a call. Any time I've ever phoned the CR was polite, professional, knowledgeable. I spoke with CR on Thurs. and was told they usually hold their rates 3 weeks or so. My purchase was held up due to Schwab wire problem I had - it was me not Schwab. Now I've seen this BrixDirect offer and am considering it.

hudson
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Re: Best CD rates thread

Post by hudson » Tue Apr 14, 2020 11:21 am

MikeG62,
I agree with EvelynTroy,
Call. See if you can find out what the fastest way to get everything processed. Recently, I dealt with a credit union that said that they would mail me the membership info and signature card. I told the representative that I wanted to join, pay their joining fee, and fund the CD asap. She replied OK and we did it all by phone and secure email. I got to talk to the CD person who pulled my CD deposit by ACH...over the phone. Shortly after, they stopped offering the CD deal. It pays to use the phone.

aristotelian
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Re: BrixDirect by Cross River...a Bank 2.08% TWO YEAR CD

Post by aristotelian » Tue Apr 14, 2020 12:02 pm

EvelynTroy wrote:
Tue Apr 14, 2020 6:56 am
hudson wrote:
Mon Apr 13, 2020 8:48 pm
The best 2 year CD that I could find...
BrixDirect by Cross River...a Bank 2.08% TWO YEAR CD
https://brixdirect.com/

PenAir Federal Credit Union has a 2.2% 5 Year CD...anyone can join.
Hudson, Thank you for heads-up on BrixDirect CD. I was looking on the website and there is also a 1 year 2.28% CD. I just don't know if its a better idea to go shorter-term for 1 yr. or will these horribly low rates persist to or beyond 2 yrs. Anyone have any thoughts?
I've also never purchased a CD at an internet bank - looks like this one is backed by a brick and mortar - both have good financial strength ratings at depositaccounts.com
Evelyn
I am getting adds for this bank in my Facebook feed. Looks really good. If it is still around I think I will jump on this in May when I have some cash coming available.

ilan1h
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Re: Best CD rates thread

Post by ilan1h » Tue Apr 14, 2020 12:12 pm

My feeling would be that with rates as low as they are and with the huge amount of government spending going on it's unlikely that rates will not creep up over the next two years.

EvelynTroy
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Re: BrixDirect by Cross River...a Bank 2.08% TWO YEAR CD

Post by EvelynTroy » Tue Apr 14, 2020 2:01 pm

aristotelian wrote:
Tue Apr 14, 2020 12:02 pm
EvelynTroy wrote:
Tue Apr 14, 2020 6:56 am
hudson wrote:
Mon Apr 13, 2020 8:48 pm
The best 2 year CD that I could find...
BrixDirect by Cross River...a Bank 2.08% TWO YEAR CD
https://brixdirect.com/

PenAir Federal Credit Union has a 2.2% 5 Year CD...anyone can join.
Hudson, Thank you for heads-up on BrixDirect CD. I was looking on the website and there is also a 1 year 2.28% CD. I just don't know if its a better idea to go shorter-term for 1 yr. or will these horribly low rates persist to or beyond 2 yrs. Anyone have any thoughts?
I've also never purchased a CD at an internet bank - looks like this one is backed by a brick and mortar - both have good financial strength ratings at depositaccounts.com
Evelyn
I am getting adds for this bank in my Facebook feed. Looks really good. If it is still around I think I will jump on this in May when I have some cash coming available.
I phoned BrixDirect this a.m. and learned the following:
Early Withdrawal Penalty - 91 days of interest on the 1 yr. CD and 180 Days of interest on the 2 yr. CD - not sure how to evaluate this because I hold the CD's to term, but of course you never know.

You can not wire funds from a brokerage account to purchase the CD - it has to be via ACH from a bank or credit union. Makes it bit complicated for me - my wire transfers are free so prefer to wire.
I had to leave a message for a CR to return the call - the call was returned in about an hour - all employees are working from home.
I'm going to go with the Hughes 29 month Jumbo @ 2.12% - already have an account there - prefer keeping my accounts to a minimum if I can.

Evelyn.


Evelyn

EvelynTroy
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Re: Best CD rates thread

Post by EvelynTroy » Tue Apr 14, 2020 2:08 pm

ilan1h wrote:
Tue Apr 14, 2020 12:12 pm
My feeling would be that with rates as low as they are and with the huge amount of government spending going on it's unlikely that rates will not creep up over the next two years.
Thanks for your thoughts - makes sense to me. I think I am safe with a 29 month CD @ 2.12%

MikeG62
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Location: New Jersey

Re: Best CD rates thread

Post by MikeG62 » Thu Apr 16, 2020 8:33 am

hudson wrote:
Tue Apr 14, 2020 11:21 am
MikeG62,
I agree with EvelynTroy,
Call. See if you can find out what the fastest way to get everything processed. Recently, I dealt with a credit union that said that they would mail me the membership info and signature card. I told the representative that I wanted to join, pay their joining fee, and fund the CD asap. She replied OK and we did it all by phone and secure email. I got to talk to the CD person who pulled my CD deposit by ACH...over the phone. Shortly after, they stopped offering the CD deal. It pays to use the phone.
Read this comment on Deposit Accounts...

“Here's the problem with regard to IRA accounts here if you are planning to fund it by a direct transfer from another FI. Unlike Navy FCU where I just opened an IRA, Hughes requires an original signature on their IRA forms in order to open an IRA account. That means you have to send paper back to them instead of doing it electronically. Then you have to wait for them to send the other FI the request for transfer and then wait for the other FI for them to send them the funding. And you have no control over how long any of that takes.”

If they had just announced this rate, I might take this chance. However, these rates were announced on April 1st. At this point, what is the probability that I can get this all done before they change the rate given the snail mail process they require (before they can even begin the process of trying to get the funds from Fidelity) and Evelyn’s discussion with a CSR that they typically hold rates for 3 weeks. It will be three weeks in 5 calendar days. Feels like a low probability. FWIW, I was able to get funds transferred from my Fidelity Rollover IRA to NFCU last month within 5 business days of account opening.
Real Knowledge Comes Only From Experience

hudson
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Joined: Fri Apr 06, 2007 9:15 am

Re: Best CD rates thread

Post by hudson » Thu Apr 16, 2020 9:10 am

MikeG62 wrote:
Thu Apr 16, 2020 8:33 am

If they had just announced this rate, I might take this chance. However, these rates were announced on April 1st. At this point, what is the probability that I can get this all done before they change the rate given the snail mail process they require (before they can even begin the process of trying to get the funds from Fidelity) and Evelyn’s discussion with a CSR that they typically hold rates for 3 weeks. It will be three weeks in 5 calendar days. Feels like a low probability. FWIW, I was able to get funds transferred from my Fidelity Rollover IRA to NFCU last month within 5 business days of account opening.
I see your point. I would call and ask to talk to someone who could answer that question with accuracy. The person that answers the phone usually will not really know. I ask if they can do an electronic signature. I ask if a fax will work. If actual paper is the answer, then I'll overnight it and ask them to do the same....as possible. Note: I don't have a fax machine....I take a pic with my phone and fax with an online fax.... faxzero.com.

I don't come on strong to the folks on the phone at all...very pleasant and laid back....but I sneak in my questions like that TV detective in the trench coat (Columbo). I want to build trust and a working relationship with the folks that I talk to. Maybe they can help me find a way.

I might do the same with my brokerage when trying to work the transfer. See if they no the fastest way...or a faster way...or a work around.

BUT, before you transfer out, you do want a good chance of getting the CD...that why I call and get as much info as I can....You never know unless you call.

hudson
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Hughes still offering 2.22% 99K 3YR

Post by hudson » Thu Apr 16, 2020 7:47 pm

According to Deposit Accounts/Lending Tree Hughes continues to offer 2.22% for 99K min 3YR CD
https://www.hughesfcu.org/products/deta ... e-accounts

High Yield Savings...info from Live Oak Bank https://www.liveoakbank.com/personal-ba ... ngs/#Rates

Live Oak Bank
1.75%

Goldman Sachs
1.70%

American Express
1.60%

Capital One 360
1.50%

Ally Bank
1.50%

Barclays
1.50%

Dioremius
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Re: Hughes still offering 2.22% 99K 3YR

Post by Dioremius » Thu Apr 16, 2020 9:34 pm

hudson wrote:
Thu Apr 16, 2020 7:47 pm
According to Deposit Accounts/Lending Tree Hughes continues to offer 2.22% for 99K min 3YR CD
https://www.hughesfcu.org/products/deta ... e-accounts
Hughes Federal Credit Union's website still shows the high rates at the above link, but if you go ahead and click "Apply Now", they show much lower rates. For example:
1.77% APY for $99K min 3yr CD
1.36% APY for $99K min 29mo CD

FireAway
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Joined: Mon Jan 29, 2018 3:56 pm

When/what is the bottom?

Post by FireAway » Wed Apr 29, 2020 11:34 am

Most of my CD stash is in a 2 year duration ladder. Not sure what to do with the stuff that needs to be renewed now - lock in these low rates for another two years, or put it in shorter duration holdings (like high-yield savings, or my NavyFed "add at any time" cd maturing next July, which pays 2.25%)? Any guesses on when and what we might see as a bottom in this decreasing-yields period?

hudson
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Joined: Fri Apr 06, 2007 9:15 am

Re: When/what is the bottom?

Post by hudson » Wed Apr 29, 2020 12:03 pm

FireAway wrote:
Wed Apr 29, 2020 11:34 am
Most of my CD stash is in a 2 year duration ladder. Not sure what to do with the stuff that needs to be renewed now - lock in these low rates for another two years, or put it in shorter duration holdings (like high-yield savings, or my NavyFed "add at any time" cd maturing next July, which pays 2.25%)? Any guesses on when and what we might see as a bottom in this decreasing-yields period?
Bottom? Nobody knows
CDs? I usually shop around and take the best deal...which used to be the 5 year CD. Now I don't know. If I had to renew a CD today....
UPDATED....THANKS FIREAWAY!!
1 Year CFG 1.75%...now 1.49%
2 Year Pen Air 1.9%....now 1.687%
3 Year Pen Air 2%.....now 1.785%
4 Year Pen Air 2.1%....now 1.884%
5 Year Pen Air 2.2%....now 1.982%

I don't know. I might put the funds in a high yield savings account and wait for some little credit union that's looking for some cash?
If you forced me into an answer, I'd just take the 5 year 1.982%....hoping that there was a decent early withdrawal deal. (My guess is as good as yours.) For the last 10 years or so, I've just taken the best deal that I could find on a 5 year CD and it's worked out...so far. I probably should have laddered my CDs, but that would have cost me some yield.

I used this website to get the rates: https://www.depositaccounts.com/ratetab ... nts.com%2F
Last edited by hudson on Wed Apr 29, 2020 1:35 pm, edited 2 times in total.

FireAway
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Re: Best CD rates thread

Post by FireAway » Wed Apr 29, 2020 1:05 pm

Thanks, hudson. BTW, although I use depositaccounts as well, I think rates are dropping so fast that that site can't keep up. For instance the PenAir 2-year shows as 1.9% on depositaccounts, but actually just 1.7% on PenAir.org. Noticed the same for many other institutions.

nalor511
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Re: Best CD rates thread

Post by nalor511 » Wed Apr 29, 2020 1:25 pm

FireAway wrote:
Wed Apr 29, 2020 1:05 pm
Thanks, hudson. BTW, although I use depositaccounts as well, I think rates are dropping so fast that that site can't keep up. For instance the PenAir 2-year shows as 1.9% on depositaccounts, but actually just 1.7% on PenAir.org. Noticed the same for many other institutions.
You can submit on each depositaccounts page, so that they will know to update their rates, for the benefit of other users, when you notice discrepancies

hudson
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Re: Best CD rates thread

Post by hudson » Wed Apr 29, 2020 1:34 pm

FireAway wrote:
Wed Apr 29, 2020 1:05 pm
Thanks, hudson. BTW, although I use depositaccounts as well, I think rates are dropping so fast that that site can't keep up. For instance the PenAir 2-year shows as 1.9% on depositaccounts, but actually just 1.7% on PenAir.org. Noticed the same for many other institutions.
Thanks FireAway!...I updated my post.

protagonist
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Re: Best CD rates thread

Post by protagonist » Wed Apr 29, 2020 2:53 pm

Bfwolf wrote:
Mon Apr 13, 2020 8:47 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|||
Navy Federal is still advertising the 3% 37 month IRA certificate. With 3 year Treasury rates at .31%, this is an incredible deal, right?
My understanding is that if you or an immediate relative has never served or worked for the DOD , membership is impossible, correct? Is there no simple back door to membership?

Bfwolf
Posts: 2030
Joined: Thu Oct 14, 2010 11:19 am

Re: Best CD rates thread

Post by Bfwolf » Thu Apr 30, 2020 3:03 am

protagonist wrote:
Wed Apr 29, 2020 2:53 pm
Bfwolf wrote:
Mon Apr 13, 2020 8:47 pm
Navy Federal is still advertising the 3% 37 month IRA certificate. With 3 year Treasury rates at .31%, this is an incredible deal, right?
My understanding is that if you or an immediate relative has never served or worked for the DOD , membership is impossible, correct? Is there no simple back door to membership?
My grandfather was in the Army. When I applied for membership over the phone, I said my grandfather was in the Army. They didn't asking me for supporting documents. What you do with this information is up to you. 8-)

protagonist
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Re: Best CD rates thread

Post by protagonist » Thu Apr 30, 2020 11:34 am

Bfwolf wrote:
Thu Apr 30, 2020 3:03 am
protagonist wrote:
Wed Apr 29, 2020 2:53 pm
Bfwolf wrote:
Mon Apr 13, 2020 8:47 pm
Navy Federal is still advertising the 3% 37 month IRA certificate. With 3 year Treasury rates at .31%, this is an incredible deal, right?
My understanding is that if you or an immediate relative has never served or worked for the DOD , membership is impossible, correct? Is there no simple back door to membership?
My grandfather was in the Army. When I applied for membership over the phone, I said my grandfather was in the Army. They didn't asking me for supporting documents. What you do with this information is up to you. 8-)
Thanks! My dad served in WW2 but trying to get documents to prove it would be more hassle than it is worth.

friar1610
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Location: MA South Shore

Re: Best CD rates thread

Post by friar1610 » Thu Apr 30, 2020 1:06 pm

Just a quick update...I did the paperwork about a week-10 days ago to transfer IRA funds from VG to NFCU to hop on the 37 mo/3% deal. (This involved filling out an NFCU form and faxing or emailing a scan of it to them. NFCU, in turn, faxed it to VG to effect the actual money transfer.) Before I did all this I had been concerned that NFCU might withdraw its promotion before the process was complete and I would not get the good rate. BUT, I called NFCU prior to starting and they confirmed that once they received the initial paper work from me they would honor the rate even if the promotion was withdrawn the following day. They did not have to have the actual cash in hand from VG to lock in the rate.

So there may still be time to take advantage of this offer. Not sure if they have any plan to terminate it on May 1.
Friar1610

hudson
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Joined: Fri Apr 06, 2007 9:15 am

No Penalty CDs Today

Post by hudson » Fri May 01, 2020 10:09 am

Ally 25K minimum 1.5% 11 months
Marcus $500 minimum 1.55% 7 months
CIT $1000 minimum 1.5% 11 months

hudson
Posts: 2854
Joined: Fri Apr 06, 2007 9:15 am

Best 5 Year CD

Post by hudson » Fri May 01, 2020 10:17 am

Advancial Federal Credit Union
Join Connex to become eligible....$5
5 Year 2.04% minimum $25K

Rates: https://advancial.org/current-market-in ... rtificates

User avatar
mapleosb
Posts: 228
Joined: Tue Feb 20, 2007 10:48 pm
Location: CT

Re: Best CD rates thread

Post by mapleosb » Fri May 01, 2020 11:05 am

dollarsaver wrote:
Tue Apr 14, 2020 8:38 am
krafty81 wrote:
Tue Apr 14, 2020 7:35 am
Jumped on the NFCU CD. Easy.
Be mindful of the max $250K on IRA's for credit union insurance.
I moved 2 Roth IRAs over to NFCU, one for each of us. Limits On the 37 Month IRA CD are 1 per member $150,000 max. 2.96% 3.00APY. Bonus, at NFCU, if it's your first IRA there, extra $50 each.

MikeG62
Posts: 2734
Joined: Tue Nov 15, 2016 3:20 pm
Location: New Jersey

Re: Best CD rates thread

Post by MikeG62 » Sun May 03, 2020 7:59 am

protagonist wrote:
Thu Apr 30, 2020 11:34 am
Bfwolf wrote:
Thu Apr 30, 2020 3:03 am
protagonist wrote:
Wed Apr 29, 2020 2:53 pm
Bfwolf wrote:
Mon Apr 13, 2020 8:47 pm
Navy Federal is still advertising the 3% 37 month IRA certificate. With 3 year Treasury rates at .31%, this is an incredible deal, right?
My understanding is that if you or an immediate relative has never served or worked for the DOD , membership is impossible, correct? Is there no simple back door to membership?
My grandfather was in the Army. When I applied for membership over the phone, I said my grandfather was in the Army. They didn't asking me for supporting documents. What you do with this information is up to you. 8-)
Thanks! My dad served in WW2 but trying to get documents to prove it would be more hassle than it is worth.
I had no problem whatsoever joining NFCU in March. They asked over the phone if I had a relative who served in the military. I told them my Dad did and provided his years of service. They asked for no proof of any kind to back up that claim. Said it's usually only requested when something pop's up from their background check. Taxable account was opened and funded in one 15 minute phone call. Transferred IRA funds (from Fidelity to NFCU) within one week. Very smooth process.
Real Knowledge Comes Only From Experience

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Thrifty Femme
Posts: 479
Joined: Sun Apr 12, 2015 1:54 pm

Re: Best CD rates thread

Post by Thrifty Femme » Sun May 03, 2020 9:32 am

MikeG62 wrote:
Sun May 03, 2020 7:59 am
protagonist wrote:
Thu Apr 30, 2020 11:34 am
Bfwolf wrote:
Thu Apr 30, 2020 3:03 am
protagonist wrote:
Wed Apr 29, 2020 2:53 pm
Bfwolf wrote:
Mon Apr 13, 2020 8:47 pm
Navy Federal is still advertising the 3% 37 month IRA certificate. With 3 year Treasury rates at .31%, this is an incredible deal, right?
My understanding is that if you or an immediate relative has never served or worked for the DOD , membership is impossible, correct? Is there no simple back door to membership?
My grandfather was in the Army. When I applied for membership over the phone, I said my grandfather was in the Army. They didn't asking me for supporting documents. What you do with this information is up to you. 8-)
Thanks! My dad served in WW2 but trying to get documents to prove it would be more hassle than it is worth.
I had no problem whatsoever joining NFCU in March. They asked over the phone if I had a relative who served in the military. I told them my Dad did and provided his years of service. They asked for no proof of any kind to back up that claim. Said it's usually only requested when something pop's up from their background check. Taxable account was opened and funded in one 15 minute phone call. Transferred IRA funds (from Fidelity to NFCU) within one week. Very smooth process.
How long ago did you join?

MikeG62
Posts: 2734
Joined: Tue Nov 15, 2016 3:20 pm
Location: New Jersey

Re: Best CD rates thread

Post by MikeG62 » Sun May 03, 2020 5:32 pm

Thrifty Femme wrote:
Sun May 03, 2020 9:32 am
MikeG62 wrote:
Sun May 03, 2020 7:59 am
protagonist wrote:
Thu Apr 30, 2020 11:34 am
Bfwolf wrote:
Thu Apr 30, 2020 3:03 am
protagonist wrote:
Wed Apr 29, 2020 2:53 pm


My understanding is that if you or an immediate relative has never served or worked for the DOD , membership is impossible, correct? Is there no simple back door to membership?
My grandfather was in the Army. When I applied for membership over the phone, I said my grandfather was in the Army. They didn't asking me for supporting documents. What you do with this information is up to you. 8-)
Thanks! My dad served in WW2 but trying to get documents to prove it would be more hassle than it is worth.
I had no problem whatsoever joining NFCU in March. They asked over the phone if I had a relative who served in the military. I told them my Dad did and provided his years of service. They asked for no proof of any kind to back up that claim. Said it's usually only requested when something pop's up from their background check. Taxable account was opened and funded in one 15 minute phone call. Transferred IRA funds (from Fidelity to NFCU) within one week. Very smooth process.
How long ago did you join?
March of 2020.
Real Knowledge Comes Only From Experience

HeelaMonster
Posts: 159
Joined: Sat Aug 10, 2019 11:46 am

Re: Best CD rates thread

Post by HeelaMonster » Sun May 03, 2020 8:28 pm

indexfundfan wrote:
Tue Oct 08, 2019 2:12 pm
PSECU CD's addon option allows you to add money periodically to the CD. Any money added will earn the APY of the CD.

I am using the addon option to add money to the CD monthly. I thought I would share what I learnt.

o Money needs be available in the source account the day before (because the money is transferred early in the morning of the specified day).
o The source account must be one of your accounts (e.g. savings or checking) at PSECU.
o If there is insufficient funds in the source account, the transfer will wipe out the entire balance in the account. If the source happens to be your PSECU checking account, beware of possible overdrafts.
o Because the transfer is internal to PSECU, money will be transferred even on weekends.

I have set up the addon so that when the Marcus promotion matures next month, I can have the proceeds go into the PSECU CD.
Thanks to this thread, I purchased a 36-month PSECU CD last Fall. I didn't pay much (or any) attention to the add-on feature at that point, thinking the initial investment would be all we would want to put in that direction. Now, of course, 3.25% doesn't look so bad! I haven't been able to locate details on setting up the mechanism for additional funds, and don't know if this is still an option this far down the road. Can any of you tell me if that door is shut (since I didn't establish upfront), or if not, how to take advantage now?

Katietsu
Posts: 3473
Joined: Sun Sep 22, 2013 1:48 am

Re: Best CD rates thread

Post by Katietsu » Sun May 03, 2020 11:41 pm

HeelaMonster wrote:
Sun May 03, 2020 8:28 pm
indexfundfan wrote:
Tue Oct 08, 2019 2:12 pm
PSECU CD's addon option allows you to add money periodically to the CD. Any money added will earn the APY of the CD.

I am using the addon option to add money to the CD monthly. I thought I would share what I learnt.

o Money needs be available in the source account the day before (because the money is transferred early in the morning of the specified day).
o The source account must be one of your accounts (e.g. savings or checking) at PSECU.
o If there is insufficient funds in the source account, the transfer will wipe out the entire balance in the account. If the source happens to be your PSECU checking account, beware of possible overdrafts.
o Because the transfer is internal to PSECU, money will be transferred even on weekends.

I have set up the addon so that when the Marcus promotion matures next month, I can have the proceeds go into the PSECU CD.
Thanks to this thread, I purchased a 36-month PSECU CD last Fall. I didn't pay much (or any) attention to the add-on feature at that point, thinking the initial investment would be all we would want to put in that direction. Now, of course, 3.25% doesn't look so bad! I haven't been able to locate details on setting up the mechanism for additional funds, and don't know if this is still an option this far down the road. Can any of you tell me if that door is shut (since I didn't establish upfront), or if not, how to take advantage now?
Unfortunately, this feature had to set up within the first 30 days of opening the account. You also had to be adding in the set amount on the given day every month or every payday.

HeelaMonster
Posts: 159
Joined: Sat Aug 10, 2019 11:46 am

Re: Best CD rates thread

Post by HeelaMonster » Mon May 04, 2020 8:30 am

Katietsu wrote:
Sun May 03, 2020 11:41 pm
Unfortunately, this feature had to set up within the first 30 days of opening the account. You also had to be adding in the set amount on the given day every month or every payday.
That's what I was thinking, so no shock. Thanks for confirming.

friar1610
Posts: 1722
Joined: Sat Nov 29, 2008 9:52 pm
Location: MA South Shore

Re: Best CD rates thread

Post by friar1610 » Mon May 04, 2020 12:11 pm

friar1610 wrote:
Thu Apr 30, 2020 1:06 pm
Just a quick update...I did the paperwork about a week-10 days ago to transfer IRA funds from VG to NFCU to hop on the 37 mo/3% deal. (This involved filling out an NFCU form and faxing or emailing a scan of it to them. NFCU, in turn, faxed it to VG to effect the actual money transfer.) Before I did all this I had been concerned that NFCU might withdraw its promotion before the process was complete and I would not get the good rate. BUT, I called NFCU prior to starting and they confirmed that once they received the initial paper work from me they would honor the rate even if the promotion was withdrawn the following day. They did not have to have the actual cash in hand from VG to lock in the rate.

So there may still be time to take advantage of this offer. Not sure if they have any plan to terminate it on May 1.
I just checked the NFCU web site and this offer is no longer there.
Friar1610

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Summit111
Posts: 340
Joined: Sun Mar 17, 2013 6:32 pm

Re: Best CD rates thread

Post by Summit111 » Mon May 04, 2020 2:40 pm

Wonder why Vanguard CD rates are lower than others...Much higher at individual banks....

Summit
“Got my mind on my money, and my money on my mind!” Snoop Dog

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Kevin M
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Re: Best CD rates thread

Post by Kevin M » Mon May 04, 2020 5:50 pm

Summit111 wrote:
Mon May 04, 2020 2:40 pm
Wonder why Vanguard CD rates are lower than others...Much higher at individual banks....

Summit
It is not uncommon for brokered CDs to have lower yields than direct CDs. It has been that way most of the time since I started moving fixed income heavily into CDs in late 2010.

Kevin
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hudson
Posts: 2854
Joined: Fri Apr 06, 2007 9:15 am

Sometimes Brokered CDs Have Good Rates...

Post by hudson » Tue May 05, 2020 8:53 am

Kevin M,
I've noticed the same thing. Banks and credit unions usually have better deals. Sometimes it's good to have a CD in a brokerage account. Sometimes the rates available in brokerage account are pretty good....not now of course. It pays to check around.

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