Best CD & MM Rates Thread 2019 - Please post updates here

[audreyh1]

Quote:

Originally Posted by Dimsumkid Andrews Federal CU Get Paid to Save with a Special Share Certificate Now through December 6, open a 3-Month Share Certificate and earn 3.01% APY*. Hurry! Don't miss out on this limited time offer. You can never go wrong with a little extra savings. So, when the masses are out spending, stay home and relax while your Share Certificate grows dividends. Enjoy 3.01% APY* for 3-months Absolutely no account fees (penalities apply for early withdrawal) $1,000 minimum deposit required to open account Offer valid November 25, 2019 through December 6, 2019.

Yeah - I saw that. Very nice even if short. But I'm really corralling my cash at the moment for other needs and don't have any spare to park for 3 months.

[sengsational]

Someone I know just got about $65K of inheritance and asked me where to put it. They had a Roth account with Fidelity (but not a cash management or brokerage account), so I said to open the cash/brokerage just to get the money out of the 0% checking account it was currently in. There were 3 options for cash management (spaxx, fcash, fzfxx), and I didn't think it made too much difference which of those was selected.


I asked when the cash would be needed, and learned maybe about 1/3 of it in the next 12 months, and another 1/3 the following year, with the overall goal to have the option to use the funds any time without risk of losing principle.


My idea was to suggest that the funds be used to buy treasuries (I read trades are free) or conservative bonds, just to get some kind of return. I don't see chasing the special rate CD's would be in the cards for these funds, though...too much trouble for this situation.


Anything about this that doesn't sound right? Any alternatives that would be better?

[mrfeh]

Quote:

Originally Posted by sengsational Someone I know just got about $65K of inheritance and asked me where to put it. They had a Roth account with Fidelity (but not a cash management or brokerage account), so I said to open the cash/brokerage just to get the money out of the 0% checking account it was currently in. There were 3 options for cash management (spaxx, fcash, fzfxx), and I didn't think it made too much difference which of those was selected. I asked when the cash would be needed, and learned maybe about 1/3 of it in the next 12 months, and another 1/3 the following year, with the overall goal to have the option to use the funds any time without risk of losing principle. My idea was to suggest that the funds be used to buy treasuries (I read trades are free) or conservative bonds, just to get some kind of return. I don't see chasing the special rate CD's would be in the cards for these funds, though...too much trouble for this situation. Anything about this that doesn't sound right? Any alternatives that would be better?

Bond funds are out, if having the value decrease is not an option.

For such a short time frame, I suggest savings/MM.

[sengsational]

Quote:

Originally Posted by mrfeh Bond funds are out, if having the value decrease is not an option. For such a short time frame, I suggest savings/MM.

Thanks for the suggestion. I'd never recommend bond funds for this. I was thinking of individual bonds, held to maturity. But if the rate delta isn't very large, just sticking with money market might be where these funds will end-up.

[pb4uski]

For the 2/3 that will be needed in the next 24 months, I'd go with an online savings account... FDIC insured, no interest rate risk, total liquidity and about 2% APY if you shop around. Beats most 12-24 month CDs easily unless you catch a credit union CD special somewhere.

https://banking.citi.com/cbol/saving...6BFCD10A618560

[SunBlueSky]

Just a "thank you" to this forum for posting the PSECU 36 month 3.25% CD special.

- I started my new member application on Nov. 1. Whole process took a while.
- Today I funded it from Fidelity (wire transfer, same day)
- PSECU IRA dept. walked me through filling out the form (pleasant & helpful).
- Fidelity faxed the IRA rollover application to PSECU for me (my home phone does not have long distance).
Glad to have the Fidelity brick and mortar office right down the road: he said they don't normally do this for you - but he remembered me and did me a favor. I still have most of my monies at Fidelity, but wanted to take advantage of the PSECU CD special.

[ShokWaveRider]

Quote:

Originally Posted by SunBlueSky Just a "thank you" to this forum for posting the PSECU 36 month 3.25% CD special. - I started my new member application on Nov. 1. Whole process took a while. - Today I funded it from Fidelity (wire transfer, same day) - PSECU IRA dept. walked me through filling out the form (pleasant & helpful). - Fidelity faxed the IRA rollover application to PSECU for me (my home phone does not have long distance). Glad to have the Fidelity brick and mortar office right down the road: he said they don't normally do this for you - but he remembered me and did me a favor. I still have most of my monies at Fidelity, but wanted to take advantage of the PSECU CD special.

Brilliant!

[LarryL]

Rates have come off the highs and now 3year is 2.35 with 100K.

[Carol1862]

Ugh...2 of my CDs come due De. 12th. I am back and forth deciding between NFCU and Ally. They’re our IRAs. They’ll probably even go lower next week😞

[Another Reader]

I'm so disgusted at the current rates that I decided to take some of the unemployed cash and combine it with a teaser rate on my HELOC to pay off two higher rate rental mortgages. I will pay off the HELOC in the low interest window, using the money that would have gone to new savings along with the net rent. I'm still keeping a large cash buffer because of the rentals, but I am not happy with the anemic "return" on those dollars.

[Live And Learn]

Quote:

Originally Posted by Carol1862 Ugh...2 of my CDs come due De. 12th. I am back and forth deciding between NFCU and Ally. They’re our IRAs. They’ll probably even go lower next week😞

Same here. I just put some of my current cash into CapitalOne 1 yr 2.1%. The 2 CDs I have that come due Dec 12 will earn even less that that I'm sure. PenFed Online savings is 1.7%. I can't find anything better.

[simple girl]

Quote:

Originally Posted by Live And Learn Same here. I just put some of my current cash into CapitalOne 1 yr 2.1%. The 2 CDs I have that come due Dec 12 will earn even less that that I'm sure. PenFed Online savings is 1.7%. I can't find anything better.

Same boat. CD coming due Dec 8th. Keeping my eyes open here and will soon start searching depositaccounts.com.

[Montecfo]

Quote:

Originally Posted by Another Reader I'm so disgusted at the current rates that I decided to take some of the unemployed cash and combine it with a teaser rate on my HELOC to pay off two higher rate rental mortgages. I will pay off the HELOC in the low interest window, using the money that would have gone to new savings along with the net rent. I'm still keeping a large cash buffer because of the rentals, but I am not happy with the anemic "return" on those dollars.

Yes. Nothing too exciting right now. i am happy I got into Signal Financial in October. I have a new tranche freeing up next few days, then nothing coming due till next Dec. Probably allocate some to Cap1 (which is my near-term spending account) and maybe a low risk equity fund. My shortest term bond fund has been great for past year but tepid past 6 months, not sure I will add there, and I may even harvest some. May allocate some to promo bank deals if not too much "overhead"involved.

Debt paydown does not look crazy. I may look to extend my small mortgage though if rates tick lower, but value proposition for paydown perhaps a bit stronger over next few years with new tax law.

[John the third]

I use bankrate.com to search for good Savings/MM rates. Also good for searching best loan and mortgage rates.

[Montecfo]

Quote:

Originally Posted by Another Reader I'm so disgusted at the current rates that I decided to take some of the unemployed cash and combine it with a teaser rate on my HELOC to pay off two higher rate rental mortgages. I will pay off the HELOC in the low interest window, using the money that would have gone to new savings along with the net rent. I'm still keeping a large cash buffer because of the rentals, but I am not happy with the anemic "return" on those dollars.

Yes. Nothing too exciting right now. i am happy I got into Signal Financial in October. I have a new tranche freeing up next few days, then nothing coming due till next Dec. Probably allocate some to Cap1 (which is my near-term spending account) and maybe a low risk equity fund. My shortest term bond fund has been great for past year but tepid past 6 months, not sure I will add there, and I may even harvest some. May allocate some to promo bank deals if not too much "overhead"involved.

Debt paydown does not look crazy. I may look to extend my small mortgage though if rates tick lower, but value proposition for paydown perhaps a bit stronger over next few years with new tax law.

[audreyh1]

Synchrony emailed me about an 18 month 2.05% CD today.

[jazz4cash]

Quote:

Originally Posted by John the third I use bankrate.com to search for good Savings/MM rates. Also good for searching best loan and mortgage rates.

Have you tried Depositaccounts.com?
I haven't been on the Bankrate site since someone here suggested using depositaccounts.com. The best CDs seem to be temporary Promo deals from Credit Unions and Online Banks. The details are sometimes provided by readers. I don't see much capability for Bakerate.com to be nearly as comprehensive.

[Dtail]

Quote:

Originally Posted by Live And Learn Same here. I just put some of my current cash into CapitalOne 1 yr 2.1%. The 2 CDs I have that come due Dec 12 will earn even less that that I'm sure. PenFed Online savings is 1.7%. I can't find anything better.

Just had a no penalty 2.3% Ally CD mature and deposited the monies to Simple.com at 2.15%.
Have a 14 month 2.85% 14 month CD maturing in March 2020.
The only thing I have to put it into is the GTE 3.0% CD, but it would be for 5 years and will need some of the monies before that time.

[ShokWaveRider]

Still a Few 3% available for some.

Lafayette Federal Credit Union 5-Year CD Earns 3.03% APY

P1FCU (ID/OR/WA) Offers 3.05% APY On 60-Month CD

GPO Federal Credit Union (NY) Adds 14-Month CD Special, 3.00% APY

Space City Credit Union (TX) Offers 3.04% APY On 5-Year Jumbo CD

Andrews Federal Credit Union Adds 3-month CD Special, 3.01% APY

All In Credit Union Unveils 53-Month Special CD, 3.00% APY

[lordjust]

Quote:

Originally Posted by Dtail Just had a no penalty 2.3% Ally CD mature and deposited the monies to Simple.com at 2.15%. Have a 14 month 2.85% 14 month CD maturing in March 2020. The only thing I have to put it into is the GTE 3.0% CD, but it would be for 5 years and will need some of the monies before that time.

How did you deal with the simple.com's split your money/goal thing? I think ill be moving over to first foundation bank (2.372%) from comenity (1.9%).