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

[audreyh1]

From my experience, you should consider more than just this CD. Currently, they also have a 40-month 3.75% IRA CD (capped at $150K). I've topped up the 17-month one. I should have the IRA one topped up next month.


They periodically have odd term CDs with good rates. In August 2017, there was 5-month 3.0% one (untouchable at the time). In just under 2 months, I have a 2.25% 15-month CD maturing. That might not sound great now, but, 13 months ago it was pretty good.


As an institution, they are not without their quirks. You can ACH into their share accounts, but, not out. I've also set up a checking account ($0 minimum) to ACH money out.

I’m not considering moving around IRA money. That’s just too many hoops.

Thanks for the tips about ACH out.

 

[audreyh1]

Audrey, my DH joined NFCU last week and after several days of on line application, uploading of docs and unfreezing of credit he opened a joint share account and a 17 mo CD. We are joint owners of the share account and CD. I then learned from one of their CSR's that I qualify for membership as well, as the relative of the qualifying member and even though I am joint on the CD, I was told if I join as a member, that we can open another $50,000 CD with Me as member and DH as joint owner, so $100,000 max, one per member. We are contemplating doing it.

I must say though that their process is not as smooth as NASA's for example. You can arrange for a free transfer with a verbal conversation with a CSR. I did this to fund the share account with $55, from my B&M bank, $5 for the Share account and $50 to start the CD. That was a 2 step process of $55 to the share account and then open a CD and fund with a transfer from the share ac. The $55 from B&M did happen overnight though. I then planned to push from Ally the remaining $49, 950 to the share account. In order to set up NFCU with Ally you of course have to verify. Instant verification did not work. Next choice was the small deposits method, which I thought worked, but after pushing the funds on 1/16 from Ally and not seeing them show up after 2 days, I realized the transfer was rejected and went back to Ally. After another phone call with NF, I found out that Ally wants to be able to pull and push. NF will not allow a pull, at least from a share account, so Ally disabled the link. They tried to pull back the small deposits before pushing the $49K, but the pull did not work. On that same call to NF, I arranged for a transfer again with NF as I had for the $55. I arranged for that on the 18th, but the funds only showed up overnight today. There was a holiday of course this week, but I found the time factor annoying. I did figure out finally though that I could open a checking account at NF which Ally can push and pull from, so if you decide to go through this, my suggestion is to open a checking account as well as your transfer vehicle.

Sorry about the long winded details, but you are so helpful, I thought I'd relay my experience to you.

Oh and the EWP is 180 days.

And I also just realized that Adrift laid all of this out, with many fewer words��

Sent from my iPad using Early Retirement Forum

Oh, OK. As a spouse of a qualifying member I realized that I also qualified for membership, but didn’t consider that we each would be eligible to open one of those CDs. Thanks for the tip!

 

[ShokWaveRider]

Connexus Credit Union - 3-year CD = 3.35% - 5-year CD = 3.63%

 

[copyright1997reloaded]

^^^ That's the same yield as VMMXX and no limits... but not FDIC insured.

Not sure I am reading this right, or what you are quoting, but All America Bank/Red Neck bank are FDIC insured: https://www5.fdic.gov/idasp/externalConfirmation.asp?inCert1=20093

Or were you trying to say that VMMXX has no limits, but is not FDIC insured, i.e. the "not FDIC insured" refers to VMMXX and not All America/Redneck?

Isn't the English language fun?

 

[pb4uski]

I meant that VMMXX is not FDIC insured but has no limits and current yield is 2.5%.

I thought it would be evident that a brokerage money market fund was not FDIC insured but that bank money market accounts are FDIC insured but just wanted to call attention to that difference.

 

[Dtail]

I meant that VMMXX is not FDIC insured but has no limits and current yield is 2.5%.

I thought it would be evident that a brokerage money market fund was not FDIC insured but that bank money market accounts are FDIC insured but just wanted to call attention to that difference.

I use the Fidelity version which is 12 bps behind VMMXX, but usually they move up a little in response, but always behind.
I don't feel the "break the buck" risk is an issue of any kind, i.e. if Vanguard or Fidelity break the buck, then there are way more serious issues going on.

 

[pb4uski]

Amen.

 

[John Galt III]

I went to Penfed last week to authorize roll over of my cd and ira. Representative told me the rates would be good to the end of the month. I'm not sure I will get the higher rate on the 23rd when it rolls over. I guess I'll call tomorrow and find out. The IRA rolls over beginning of Feb.



When I transferred my Roth IRA to Penfed about 5 years ago, it took forever to get the money transferred from Fidelity. I had to set up camp at the local Fidelity office to make it happen and was very disturbed with them.

In early January the Penfed rep told me the 3.50% rate was good for the entire month of January. I took out some cds right away at 3.50% since customer service people are so often wrong. Also found out from penfed rep yesterday that we have a 10 day grace period after renewing a cd, to reconsider, ie, cancel it and do something else with the money.

 

[ShokWaveRider]

I think 3 years CDs with anything over 3% is my sweet spot for our first quarter maturities.

 

[stepford]

Finally a decent rate available in Southern California. Premier America Credit Union (open to LA and Ventura County residents) now has a 17 month 3.20% CD. EWP is 180 days worth of dividends, which I can live with.

I think this is where I'm going to park much of my short term cash.

 

[Drake3287]

Jealous, just locked into 2.90% up here in the Bay Area. I knew thing's would change the minute I pulled the trigger.

 

[MJ]

Finally a decent rate available in Southern California. Premier America Credit Union (open to LA and Ventura County residents) now has a 17 month 3.20% CD. EWP is 180 days worth of dividends, which I can live with.

I think this is where I'm going to park much of my short term cash.

I put a chunk of money yesterday in their 16 month 3.15%. When I saw the 17 month CD, I called them today and asked if I could close the 16 month and open the 17 month. I found out that their 180 day EWP will eat into your principal if you withdraw during the 1st 179 days. Because I was a bit forceful, the supervisor said they would make a one time exception and change 16 months to 17. I guess it pays to read the EWP penalty before continuing.

 

[cbo111]

Just locked in a 17-month 3,25 with Navy Fed. The max cd is $50K, which I jumped on quickly. This may be the best short-term CD out there now.

 

[njhowie]

Marcus no-penalty 13-month CD 2.35%, 11-month 2.3%, 7-month 2.25%

https://www.marcus.com/us/en/savings/no-penalty-cds


12-month high yield CD 2.75%

https://www.marcus.com/us/en/savings/high-yield-cds


High yield savings 2.25%

https://www.marcus.com/us/en/savings/high-yield-savings

 

[WWDog]

I went to Penfed last week to authorize roll over of my cd and ira. Representative told me the rates would be good to the end of the month. I'm not sure I will get the higher rate on the 23rd when it rolls over. I guess I'll call tomorrow and find out. The IRA rolls over beginning of Feb.



When I transferred my Roth IRA to Penfed about 5 years ago, it took forever to get the money transferred from Fidelity. I had to set up camp at the local Fidelity office to make it happen and was very disturbed with them.

The paperwork came through on the roll over and it had the 3.44% compounded to 3.5% like the representative promised. I guess Penfed is good on their word. Now to see what I get on a roll over of my Roth IRA CD that happens early in Feb. The site does not show a different rate for IRA versus regular CD like it did last month.

 

[retired1]

Just locked in a 17-month 3,25 with Navy Fed. The max cd is $50K, which I jumped on quickly. This may be the best short-term CD out there now.

Yes, that's the best rate for non-IRA CD. For IRA CD, NFCU has 40 month at 3.75% which is also real good rate.

 

[simple girl]

CitBank has a 2.45% rate on their Savings Builder Account, if you have a balance of $25K or deposit $100/mo.

 

[CABarb]

What do you think of Citizen's Access bank?

https://www.magnifymoney.com/blog/reviews/citizens-access/

 

[copyright1997reloaded]

What do you think of Citizen's Access bank?

https://www.magnifymoney.com/blog/reviews/citizens-access/

The write up in DepositAccounts.com seems fairly positive: https://www.depositaccounts.com/banks/citizens-access/offers/. Disclaimer: I have no personal experience with them.

 

[copyright1997reloaded]

Just got an email from NorthernBankDirect raising the interest rate on my money market account from 2.25% APY to 2.50% APY. Interestingly enough, I don't see this rate advertised on their web site, https://www.northernbankdirect.com/

 

[Dave J]

Penfed The site does not show a different rate for IRA versus regular CD like it did last month.

When I check PenFed today, it still shows IRA certificates being 1/10 of a point less than regular CD's.

 

[24601NoMore]

The write up in DepositAccounts.com seems fairly positive: https://www.depositaccounts.com/banks/citizens-access/offers/. Disclaimer: I have no personal experience with them.

Sounds like there is no way to setup beneficiaries online or via mail, though. You apparently have to give all the info (including SS #) verbally to a CSR over the phone (no thanks!)

I'm interested in Citizens Access but the beneficiary issue is a big hurdle/potential deal breaker..

 

[Gumby]

With a hat tip to ShokWaveRider, we are splitting off the thread for 2019 and leaving the 2018 version as an archive. Link to 2018 is here http://www.early-retirement.org/for...2018-2019-please-post-updates-here-93051.html

 

[audreyh1]

With a hat tip to ShokWaveRider, we are splitting off the thread for 2019 and leaving the 2018 version as an archive. Link to 2018 is here http://www.early-retirement.org/for...2018-2019-please-post-updates-here-93051.html

Thanks! Whew!!!

 

[BeanCounter62]

I don't see much about CDbank.com here. Are they a good option?


12 Months 2.80%
18 Months 3.00%
24 Months 3.07% (up to 60 months all at 3.07%)

I'm just putting together my first CD ladder (took my first step a few weeks ago with a 2 year Capital One CD @2.8% since I already was using them for high interest savings)

My brother is retired Navy - got my parents into NFCU - but I don't have that option.