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12 month CD rates
Old 01-03-2015, 05:34 PM   #1
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12 month CD rates

Just took a look at 12 month CD rates. Looks like 1.1% to 1.25% are currently available.

From December 14: Top 12-month CD rates surge to 3-year high | Interest.com
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Old 01-04-2015, 08:14 AM   #2
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PenFed also offering 1.1% CD rates this month.

I think in Jan a year ago the offer was 0.75% for 1 year CDs at PenFed.
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Old 01-04-2015, 03:43 PM   #3
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I guess I'm the only one shopping for 1 year CDs today.
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Old 01-04-2015, 04:35 PM   #4
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Getting nearly 1% with an online savings account makes the 1-year CDs seem not worth the hassle. Thanks for the thought, though!
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Old 01-04-2015, 04:42 PM   #5
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Getting nearly 1% with an online savings account makes the 1-year CDs seem not worth the hassle. Thanks for the thought, though!
It's for a block of money I won't need for 12 months exactly. So I'll take the 1.1% since I already have PenFed account and ACH transfers in place.

My online savings account is currently paying 0.85%, but I'm not willing to open another online savings and deal with yet another financial institution to bump that up to 0.9% or 0.95% at this moment. I'll be keeping my eye on things though.
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Old 01-04-2015, 04:59 PM   #6
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GE Capital is at 1.05% for savings and 1.1 for 12-month CD. I don't know why anyone would go the 12 month.
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Old 01-04-2015, 05:13 PM   #7
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but I'm not willing to open another online savings and deal with yet another financial institution to ...
Oh, I heard that!
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Old 01-04-2015, 05:51 PM   #8
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GE Capital is at 1.05% for savings and 1.1 for 12-month CD. I don't know why anyone would go the 12 month.
Because you are setting aside the money for one year?

But yeah, if you already have a savings account at GE capital, why bother with the CD.

That's interesting that GE Capital is offering a better savings rate than Sychrony which is their spinoff. I thought Synchrony would be more aggressive about attracting new money. Their savings rate is 1.00%
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Old 01-04-2015, 06:05 PM   #9
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Barclays offers a 2.25% five year CD with a six month early withdrawal penalty. So if you withdraw after a year, you would earn 1.125%, and if for whatever reason you change your mind and don't need the cash, you will have earned double the rate for the year.

OK, not that great compared to the other one year rates I guess, but maybe a decent option for people who aren't sure they need the cash after one year?
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Old 01-04-2015, 06:48 PM   #10
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Many of the on line savings accounts like GE Capital specify:
  • Rate is variable and may change after the Account is opened.
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Old 01-04-2015, 07:09 PM   #11
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GE Capital is at 1.05% for savings and 1.1 for 12-month CD. I don't know why anyone would go the 12 month.

If one thought interest rates would take another plunge within a few months one might wish to lock in that massive 1.1% rate. 😳


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Old 01-04-2015, 07:30 PM   #12
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Many of the on line savings accounts like GE Capital specify:
  • Rate is variable and may change after the Account is opened.
Good point!

Although I tend to believe that next year the trend will be up - gradually.
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Old 01-05-2015, 07:35 AM   #13
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next year as in 2015 or 2016?
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Old 01-05-2015, 07:48 AM   #14
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next year as in 2015 or 2016?
Oops - I'm meant in the next year, meaning this year - 2015. Thanks.
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Old 01-05-2015, 07:49 AM   #15
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Barclays offers a 2.25% five year CD with a six month early withdrawal penalty. So if you withdraw after a year, you would earn 1.125%, and if for whatever reason you change your mind and don't need the cash, you will have earned double the rate for the year.

OK, not that great compared to the other one year rates I guess, but maybe a decent option for people who aren't sure they need the cash after one year?
That's a good suggestion. If I thought it likely the cash would stay there longer I'd be very tempted.
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