High(er)-rate CD deals

[jazz4cash]

Some of my older Penfed IRA CDs waive the early withdrawal penalty when you get to 59.5 yrs of age. I think they omitted that feature for newer CDs but I am going to contact them to verify.


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[Moneygrubber]

These penfed deals, nasa, navy cds only appy to those with mil service right?


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[jazz4cash]

These penfed deals, nasa, navy cds only appy to those with mil service right?


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Penfed and NASA have other ways to qualify. Check their membership rules.
Edit: I qualified at Navy FCU as a defense contractor.

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[scrinch]

Patelco CU has 5-yr CD and IRA CD rates of 2.5% w/ 6 mo early withdrawal penalty.

 

[Skyward1]

This seems like it would be a good candidate to be Sticky worthy.

 

[Golden sunsets]

This seems like it would be a good candidate to be Sticky worthy.

+1. Mods?

 

[RunningBum]

This seems like it would be a good candidate to be Sticky worthy.

I don't think so. The deals are often short-lived, so the info is quickly outdated. If there's are new deals people post, then it gets bumped back to the top. I'm just not a fan of stickys, if you get too many of them they take most of the first page and hide the newer threads.

 

[John Galt III]

Anyone have any comments on the ease or difficulty of dealing with these banks and credit unions, as far as buying a CD? I've read reviews online and Patelco and Barclays are generally liked by customers. But some others got very bad reviews, like Discover and Synchrony, with clueless customer service people, money temporarily vanishing, conflicting instructions, etc. When I opened my PenFed account for the 3 % 5 year cd a few years ago, it was fairly straightforward. Thanks

 

[audreyh1]

I read the bad Synchrony reviews, but I personally have never had any issues. I've only done things on line, not called customer support.

We'll see if I have any issues once my current CDs mature.

PenFed generally has been fine, in spite of their somewhat clunky website.

 

[jazz4cash]

I just had an issue with Penfed which has been resolved. $9k disappeared from my account which they chalked up to "human error". A check for $9k did show up in the mail 3 weeks later with a note from the Post Office ("sorry your mail was late/damaged). I don't usually check these CD balances regularly, but from now on I will since I am retired and have plenty of time.

 

[travelover]

$9k disappeared from my account.

Well aren't you the nit picker.

 

[Debinnov a]

I have opened cds online with Synchrony and Barclays and no issues with either.

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[begood]

These penfed deals, nasa, navy cds only appy to those with mil service right?

I was able to open a PenFed account thanks to my dad's service in WWII.

 

[John Galt III]

Poking around on the internet, I found Pioneer Valley FCU in Springfield, MA 2.57% 57 month CD. Slightly higher than Patelco's 2.50% 5 year CD. Hmmmm. Maybe rates are nudging up week by week? I noticed some have dropped their 5 year rates in the last few weeks though. Arggggh.

 

[lucky penny]

To buy a Penfed certificate, you have to join Penfed (free) & their site has a list of ways to qualify. I qualified a few years ago by making a tax-deductible payment of $10 to join the National Military Families Assn. It's a one-time only payment to NMFA, but I see it's now $15.

 

[Tadpole]

I had a cd mature yesterday and another tomorrow. I managed to point them to the 15 month rollover. Thanks!

 

[John Galt III]

When you guys are buying cds online what info are you entering? Are you doing an EFT from your checking account? ACH transfer? Mailing in a check? Do they ask for your SSN? I'd rather mail them a check so I don't have my checking account number floating around on the internet.

 

[audreyh1]

When you guys are buying cds online what info are you entering? Are you doing an EFT from your checking account? ACH transfer? Mailing in a check? Do they ask for your SSN? I'd rather mail them a check so I don't have my checking account number floating around on the internet.

Most give you options of how to fund. You usually can select this when you open the account. I do mine via EFT which I much prefer over a check floating around in the mail.

My checking account number is not "floating around on the Internet" - at least not unencrypted. The session with the financial institution is encrypted.

Yes they ask your SSN. They have to as they must file 1099-INTs with the IRS.

 

[kaneohe]

Anyone have any comments on the ease or difficulty of dealing with these banks and credit unions, as far as buying a CD? I've read reviews online and Patelco and Barclays are generally liked by customers. But some others got very bad reviews, like Discover and Synchrony, with clueless customer service people, money temporarily vanishing, conflicting instructions, etc. When I opened my PenFed account for the 3 % 5 year cd a few years ago, it was fairly straightforward. Thanks

My memory tells me that the bad reviews for Synchrony were mostly related to their credit card dealings, not the banking side. My experience has been mostly positive on the banking side. The only problem I've had is that in handling written instructions for an IRA withdrawal , somehow they managed to lose the signature page before scanning (I claim that I stapled them together and they never confirmed whether there was forensic evidence.....staple holes....or not). Also they seem to give mixed messages: send all correspondence to our new handling center in Atlanta on one mailing but the statement continues to show mailing address in New Jersey months after they were informed of the issue........and they seem to be somewhat slow in handling the mail.

 

[aja8888]

When you guys are buying cds online what info are you entering? Are you doing an EFT from your checking account? ACH transfer? Mailing in a check? Do they ask for your SSN? I'd rather mail them a check so I don't have my checking account number floating around on the internet.

You would be surprised as to what information about you and your personal life is already available on the internet, most provided by you and your internet connection. As Audrey stated, all the transaction details when applying for the CD is encrypted.

 

[Dave J]

Some of my older Penfed IRA CDs waive the early withdrawal penalty when you get to 59.5 yrs of age. I think they omitted that feature for newer CDs but I am going to contact them to verify.


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I have been a member of PenFed for many years. They have allowed partial redemption's from certificates as long as you leave $1000 in the certificate until it matures.
I can verify I have done this after age 59.5 with zero penalty. The current wording on IRA certificate application is copied below. They are not offering the 15 month special on IRA's. I verified this in writing from Penfed about 10 days ago.

*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.

 

[jazz4cash]

I have been a member of PenFed for many years. They have allowed partial redemption's from certificates as long as you leave $1000 in the certificate until it matures.
I can verify I have done this after age 59.5 with zero penalty. The current wording on IRA certificate application is copied below. They are not offering the 15 month special on IRA's. I verified this in writing from Penfed about 10 days ago.

*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.

Thanks. This is a really good option to have and you just saved me a lot of time on the phone with them!

 

[Dave J]

The website www.depositaccounts.com is the most comprehensive source of rates I have found. I would have seen the PenFed deal the next time I checked, but deals are so rare these days that I only check about once a week.

Plus 1 on depositaccounts.com

Someone posted about 10 days before PenFed had the 1.5 %Cd that it was coming. It was in the coments to the post about the NavyFed 2.5% CD.

Good site, as is this one.

 

[ShokWaveRider]

I am still running on 3% PenFed 5 Year CDs from 3 years ago......

Hi folks, I was thinking it might be helpful to post info about CD deals and rate promotions in one thread. They tend to come & go fairly quickly.

(If there is already such a thread here, I applogize -- let me know & I'll delete this).

I'll start:



PenFed recently announced a 15-month CD (1.51% APY), minimum deposit $1K, with no maximum balance cap.

More details here

 

[Rosie]

FYI, the PenFed 15-month CD special is over;
according to the fine folks at depositaccounts.com, as of 1/30/16 the rate dropped from 1.51% down to 1.26%. So it goes.