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PEN FED certificate rates 2 Jan
Old 01-02-2015, 03:51 PM   #1
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PEN FED certificate rates 2 Jan

Finally gave in to the don't time the market and bought my latest step of cCD ladder at penfed. Rates slightly better than last month:

6 month 0.35%
1 yr 1.1%
2 yr 1.35%
3 yr 1.4%
4 yr 1.4%
5 yr 1.75%
7 yr 2.0%
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Old 01-02-2015, 04:03 PM   #2
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If you're eligible to join, Wright-Patt Credit Union is offering a 52-month CD at 1.77% with the ability to bump it up to a higher rate (whatever the higher rate is at the time) once during the term. The higher rate will apply for the remainder of the term.

Bump-Up Your Certificate Rate | Wright-Patt Credit Union
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Old 01-02-2015, 04:28 PM   #3
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Midfirst Direct has a 3% apy 10 year CD available. 10 years is a long time to tie up cash though certainly interest rates will go up sometime down the road.

https://www.midfirstdirect.com/Produ...-CD-Rates.aspx
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Old 01-02-2015, 05:12 PM   #4
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Quote:
Originally Posted by powerplay View Post
Midfirst Direct has a 3% apy 10 year CD available. 10 years is a long time to tie up cash though certainly interest rates will go up sometime down the road.

https://www.midfirstdirect.com/Produ...-CD-Rates.aspx
Hahaha how many times have I said that

Of course, I was foolish enough to put a time frame on it where you didn't. Maybe that was the problem
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Old 01-02-2015, 07:33 PM   #5
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Quote:
Originally Posted by powerplay View Post
Midfirst Direct has a 3% apy 10 year CD available. 10 years is a long time to tie up cash though certainly interest rates will go up sometime down the road.

https://www.midfirstdirect.com/Produ...-CD-Rates.aspx
The 3% 10 year rate wouldn't be all that bad of a deal if it weren't for the fact that they hit you with a 36 month penalty for early withdrawal, whether the interest was earned or not. That's the worst penalty I've ever seen on a bank CD.

I just opened a Barclays CD for 5 years at 2.25% with a 6 month early withdrawal penalty. That was about as good as I could find. I hope I don't need to keep it there for five years. A six month penalty for early withdrawal makes it fairly painless to move it to a higher yielding CD down the road should one be offered.
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Old 01-03-2015, 06:56 PM   #6
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Hmm. Brokered CDs are 2.3% for 5 year and 3.3% for 10 year. Shop around


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Old 01-03-2015, 07:17 PM   #7
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Sheesh. Bought a fair amount of 3 year certs from PenFed at 6.25% on 1/5/2007. Converted to the offered 4% cert 1/5/2010. Now 1.75% for a 5 year cert? Most of our PenFed money will be going into index funds and we'll start rebuilding our cash pile in Barclays or TIAA accounts paying about 1% - but without penalties for early withdrawal. We got 2% as points up front for making several of our recent hard money loans!
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