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End of Year CD Deals
Old 10-31-2017, 07:47 AM   #1
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End of Year CD Deals

Online banks have already been offering some better deals on CDs this year such as the Ally Bank 1.5% 11 month no penalty CD. Traditionally in November and December banks offer "holiday special" CD rates. Please post any good holiday CD rate specials you find here. Thanks!
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Old 10-31-2017, 08:23 AM   #2
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Yes, please do! I just had a significant CD mature, and I just rolled it into my savings account since I didn't see anything worth putting it in. A nice 3% or so like the one from Pen Fed a few years ago would be sweet.
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Old 10-31-2017, 09:47 AM   #3
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CIT Bank has a no-penalty 11 month CD at 1.45%

I recently moved a maturing 2 year CD (also at CIT) into that.
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Old 10-31-2017, 09:58 AM   #4
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If you have $25k, Ally offers 1.65 percent for their high-yield 12 month CD.

https://www.ally.com/bank/high-yield...CONBRR&term=12

ETA: Goldman Sachs offers the same rate for a $500 minimum.
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Old 10-31-2017, 10:01 AM   #5
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Penfed had a raise recently I think it s 1.6 for 12 mos , 2.02 for 60 mos, 2.27 for 72.
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End of Year CD Deals
Old 10-31-2017, 02:59 PM   #6
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End of Year CD Deals

Quote:
Originally Posted by jazz4cash View Post
Penfed had a raise recently I think it s 1.6 for 12 mos , 2.02 for 60 mos, 2.27 for 72.


Be careful of PenFeds early withdrawal penalties. They’re pretty stiff.

Edit to add:
“Early Redemption Penalties

If the certificate is redeemed within the first year, all dividends will be forfeited.

If after the first year, but prior to the maturity date, the early withdrawal penalty will equal 30% of what would have been earned if the certificate had been held to maturity, not to exceed total dividends earned.”
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Old 10-31-2017, 03:20 PM   #7
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Penfed has become saver unfriendly. Vanguard ultra short term bond fund is the better choice for 12 month money.
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Old 10-31-2017, 04:50 PM   #8
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Andrews FCU had 3% 5-year CDs as holiday specials last year, and brought them back early this year for a while.
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Old 10-31-2017, 04:56 PM   #9
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The rates on some of the money market funds are moving up. I see VMMXX quoted at a 1.13% yield now.
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Old 10-31-2017, 05:04 PM   #10
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CDs are a third world prison for money. You have to pay to get out. The war on savers has created unfavorable terms for savers. Its a risk on environment as dictated by the system.
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Old 10-31-2017, 05:27 PM   #11
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By the the time its over saving money in a bank account or CD will be as popular as disco music land lines 8 tracks & dial up internet.
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Old 10-31-2017, 05:34 PM   #12
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By the the time its over saving money in a bank account or CD will be as popular as disco music land lines 8 tracks & dial up internet.


Bored tonight?
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Old 10-31-2017, 05:53 PM   #13
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No I'm livin on the edge. How bout you?
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Old 10-31-2017, 06:02 PM   #14
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From the PenFed website:

Partial withdrawals for members over the age 59 1/2 (including Required Minimum Distributions) and qualified distributions regardless of age (including Disability) may be processed from IRA certificates without incurring an early redemption penalty.

https://www.penfed.org/accounts/disc...ra-disclosures
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Old 10-31-2017, 06:19 PM   #15
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From the PenFed website:

Partial withdrawals for members over the age 59 1/2 (including Required Minimum Distributions) and qualified distributions regardless of age (including Disability) may be processed from IRA certificates without incurring an early redemption penalty.

https://www.penfed.org/accounts/disc...ra-disclosures


I was just looking at the verbiage on a Penfed IRA CD I currently hold and it was different from what you noted above. I do hold some older PF IRA CDs that waive the penalty as noted above. It seems their policies on EWP are fluid. I'm not sure what is meant by qualified distributions.
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Old 10-31-2017, 06:22 PM   #16
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Regardless of age?
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Old 10-31-2017, 06:22 PM   #17
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No I'm livin on the edge. How bout you?


I went over the edge last year.
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Old 10-31-2017, 06:24 PM   #18
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Its all good.
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Old 10-31-2017, 06:25 PM   #19
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Being bored takes on new meaning when your retired.
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Old 10-31-2017, 06:26 PM   #20
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Being bored takes on new meaning when your retired.


It’s called stress free relaxation.
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