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10-31-2017, 07:47 AM
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#1
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 37,931
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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!
__________________
Retired since summer 1999.
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10-31-2017, 08:23 AM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Location: No fixed abode
Posts: 8,764
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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.
__________________
"Good judgment comes from experience. Experience comes from bad judgement." - Anonymous (not Will Rogers or Sam Clemens)
DW and I - FIREd at 50 (7/06), living off assets
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10-31-2017, 09:47 AM
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#3
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Recycles dryer sheets
Join Date: Jun 2010
Location: Sac suburb
Posts: 437
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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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10-31-2017, 09:58 AM
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#4
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Thinks s/he gets paid by the post
Join Date: Jan 2013
Posts: 3,405
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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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10-31-2017, 10:01 AM
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#5
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,304
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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.
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
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10-31-2017, 02:59 PM
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#6
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2013
Location: Limerick
Posts: 5,633
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End of Year CD Deals
Quote:
Originally Posted by jazz4cash
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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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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10-31-2017, 03:20 PM
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#7
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Full time employment: Posting here.
Join Date: Dec 2013
Posts: 774
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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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10-31-2017, 04:50 PM
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#8
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 37,931
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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.
__________________
Retired since summer 1999.
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10-31-2017, 04:56 PM
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#9
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Thinks s/he gets paid by the post
Join Date: Nov 2011
Posts: 3,865
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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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10-31-2017, 05:04 PM
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#10
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Full time employment: Posting here.
Join Date: Dec 2013
Posts: 774
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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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10-31-2017, 05:27 PM
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#11
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Full time employment: Posting here.
Join Date: Dec 2013
Posts: 774
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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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10-31-2017, 05:34 PM
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#12
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2013
Location: Limerick
Posts: 5,633
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Quote:
Originally Posted by Free bird
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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Bored tonight?
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10-31-2017, 05:53 PM
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#13
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Full time employment: Posting here.
Join Date: Dec 2013
Posts: 774
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No I'm livin on the edge. How bout you?
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10-31-2017, 06:02 PM
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#14
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Recycles dryer sheets
Join Date: Nov 2013
Posts: 233
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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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10-31-2017, 06:19 PM
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#15
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,304
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Quote:
Originally Posted by 34rlsa
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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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.
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
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10-31-2017, 06:22 PM
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#16
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Full time employment: Posting here.
Join Date: Dec 2013
Posts: 774
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Regardless of age?
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10-31-2017, 06:22 PM
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#17
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2013
Location: Limerick
Posts: 5,633
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Quote:
Originally Posted by Free bird
No I'm livin on the edge. How bout you?
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I went over the edge last year.
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10-31-2017, 06:24 PM
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#18
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Full time employment: Posting here.
Join Date: Dec 2013
Posts: 774
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Its all good.
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10-31-2017, 06:25 PM
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#19
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Full time employment: Posting here.
Join Date: Dec 2013
Posts: 774
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Being bored takes on new meaning when your retired.
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10-31-2017, 06:26 PM
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#20
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2013
Location: Limerick
Posts: 5,633
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Quote:
Originally Posted by Free bird
Being bored takes on new meaning when your retired.
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It’s called stress free relaxation.
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