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07-04-2018, 12:22 PM
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#41
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Thinks s/he gets paid by the post
Join Date: Mar 2012
Posts: 3,931
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 Quote:
Originally Posted by Gotadimple
I don't see where this question was answered. Bankrate.com can tell you about CDs on offer. Bauerfinancial.com rates the institutions (banks or credit unions) based on their financial reporting to the federal government.
4 or 5 stars are recommended, anything else means there may be financial problems.
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bauerfinancial is an excellent resource. However, Bank of China, Bank of India, and other foreign banks which do have FDIC backing their CDs are not covered by Bauer. I've tried looking them up in the past and just now unsuccessfully.
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07-04-2018, 12:28 PM
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#42
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Thinks s/he gets paid by the post
Join Date: Mar 2012
Posts: 3,931
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Quote:
Originally Posted by jazz4cash
I would consider buying a callable CD. It depends on the terms. It's not a black or white issue for me.
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Absolutely.
This past Friday I purchased a 5-year 3.4% callable CD, callable starting 6 months from now. Worst case they call it early and I've made more than the shorter term CD is offering today.
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07-04-2018, 07:00 PM
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#43
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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I may shortly be opening an account at Red neck Bank. Slogan: where bankins funner. Aside from the appeal of being a debit card carrying redneck, they offer 2% on a money market.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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07-04-2018, 07:10 PM
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#44
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,376
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Vanguard's Prime MM is currently paying ~2% as well and for me that is easier.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
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07-06-2018, 07:06 AM
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#45
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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: 38,154
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Hah - well I discovered something today looking at Fidelity's new issue CD offerings:
All of the foreign bank subsidiary offerings are not available to me in TX. Under "SKY" in the "Attributes" column, TX is one of the state listed as not available due to Blue Sky Restrictions. MT and OH are other states sometimes listed.
So even if I wanted to, not an option.
__________________
Retired since summer 1999.
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07-07-2018, 07:36 AM
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#46
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Thinks s/he gets paid by the post
Join Date: Mar 2012
Posts: 3,931
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You're not missing anything.
A year or two ago, when short-term rates were still well below 1%, the extra 0.05% of these CDs made a difference. Today, with short-term rates significantly higher, the 0.05% difference is almost nothing - you could easily make that up from a US-based bank by taking the term a month or two longer.
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07-07-2018, 08:47 AM
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#47
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Thinks s/he gets paid by the post
Join Date: Jan 2013
Posts: 3,413
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California is a Blue Sky state as well. Not missing that much yield and there are probably some reasons to avoid those banks anyway.
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