Best CD & MM Rates Thread 2018 Archive

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Fidelity Premium MM is at 1.97%
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The Fido MM paying 2% is FMPXX and it has a minimum of $1 million.
 
Well I'm annoyed with ALLY

adrift said:
Ally 11-month No Penalty CD - 2.00% ($25K minimum)

Ally savings 1.80%
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I decided that today was the day to jump on this change in rates. I closed five 11 mo no penalty CD's at the older 1.75% rate and did so successfully with just 5 clicks. I then began the process of opening 5 new 11 mo no penalty CD's at the new 2% rate. After opening 2 successfully, the system stopped opening them and after a call to ALLY I was told that all new apps for my account were pending and I will receive a call in 3-5 business days. Meanwhile the money sits in a minimal interest bearing Ally checking account. ANNOYING but not fatal.:mad:
 
I'm seeing 3.3% brokered callable CD's with maturity of approximately 2 years from JP Morgan and Wells Fargo in my brokerage fixed income screener.
 
Golden sunsets said:
I decided that today was the day to jump on this change in rates. I closed five 11 mo no penalty CD's at the older 1.75% rate and did so successfully with just 5 clicks. I then began the process of opening 5 new 11 mo no penalty CD's at the new 2% rate. After opening 2 successfully, the system stopped opening them and after a call to ALLY I was told that all new apps for my account were pending and I will receive a call in 3-5 business days. Meanwhile the money sits in a minimal interest bearing Ally checking account. ANNOYING but not fatal.:mad:
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Crap!

There are limits of 6 withdrawals from their high yield savings account - but I don’t think that’s what you ran into as you deposited in checking.

Also, you can open multiple CDs at once.
 
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Golden sunsets said:
I decided that today was the day to jump on this change in rates. I closed five 11 mo no penalty CD's at the older 1.75% rate and did so successfully with just 5 clicks. I then began the process of opening 5 new 11 mo no penalty CD's at the new 2% rate. After opening 2 successfully, the system stopped opening them and after a call to ALLY I was told that all new apps for my account were pending and I will receive a call in 3-5 business days. Meanwhile the money sits in a minimal interest bearing Ally checking account. ANNOYING but not fatal.:mad:
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Is there a maximum on the deposit amount per account? Curious why you want to open so many...
 
ExFlyBoy5 said:
Is there a maximum on the deposit amount per account? Curious why you want to open so many...
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Ally does not permit partial early withdrawals on CDs. For that reason some of us break it up into multiple CDs.
 
I see Ally is now offering 2.4% on their 12 month CDs. It was just 2% a little while ago.

Well, they had raised the 12 month CD from 2 to 2.25% in early May.
 
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I am watching the rates locally. Thanks for all the information. I will be making a few phone calls today to banking institutions in my area.
 
I am finding that some of the better rates are not posted on the usual sites. Probably because they do not sponsor them. So it is good to post your findings here.
 
audreyh1 said:
Crap!

There are limits of 6 withdrawals from their high yield savings account - but I don’t think that’s what you ran into as you deposited in checking.

Also, you can open multiple CDs at once.
Click to expand...

That's what I thought I was trying to do, but I think I may have done it wrong, thus something redflagged me. The closed CD's went into our Ally Checking Account so it wasn't the too many WD issue. The thing that annoyed me was the customer rep couldn't override the situation or get me to the back office where they could fix it immediately. So here I sit and wait for the call to fix this.
 
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ExFlyBoy5 said:
Is there a maximum on the deposit amount per account? Curious why you want to open so many...
Click to expand...

I wanted flexibility in case I wanted some of the money to invest elsewhere or cover an expense. That way I wouldn't have to close out more than I needed to, so I opened four $25,000 Cd's and one $50,000 CD.
 
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Heartland Bank, a regional bank (various locations). Their Princeton IL bank has 2.10% 14 month CD offer as of 8/1/18. Minimum of $5,000. They said it has to be "new money" to their bank. I asked if a person couldn't use money that was already on deposit there ?? They said Yes, with special permission.

That's the best I've found searching on-line today at local institutions.
 
US Senate Federal Credit Union has a 5 year 3.53% CD with a 1 year EWP.

Greenwood Credit Union has a 3 year 3.25% CD with a 6 month EWP.

I currently have a 2.25% CD with Barclays that will cost me 6 months worth of interest to terminate early but I'm thinking the Greenwood deal is hard to beat with only a 6 month EWP and a full percentage higher rate.
 
Bloomberg is showing the 1 year Treasury @ 2.41%. No state tax on Treasuries as well.
 
This week's ST Treasury are 2.01 for 3 months and 2.20 for 6 month. Takes about 2 clicks to buy at Fido. If you had to sell, Fido only charges a $1/1000 bond--10k of value+10 bonds+$10 sales cost
 
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