Best places to buy Cd's online

[summer2007]

I'm looking to put some money into Cd's. I have accounts with Vanguard Fidelity and Schwab.

A few months back it seemed that Fidelity had loads of Cd's and now they have very few like 21.

Vanguard has a 10k minimum order for new issue Cd's and some of the rates are good.

And Schawb has some good rates also and no 10k minimum.


I just wanted to see what others thought was the best places online to buy Cd's?

Jim

 

[Notmuchlonger]

Try this place. It might help.

CD Rates | Compare High Yield Certificate of Deposit Best Highest Certificates Laddering CD Rate Ladder

 

[saluki9]

Schwab is the best in my opinion. Do read up before buying as many of their CDs are callable.

 

[youbet]

I've been using Schwab and have been pleased with the offerings and easy transactions so far.

 

[d]

to see the best deals available, Bank Deals - Best Rates and Deals

 

[cute fuzzy bunny]

CD Thread, Post The Best Rates You Can Find Here!

 

[calmloki]

Columbia House and BMG are the first that jumped to my mind this morning:
Phone Number for BMG Music Service and Columbia House and Complaints

 

[CybrMike]

I'm getting ready to use Everbank. They seem to have great rates right now and have the CDARs feature that allows FDIC insurance up to $50million.

 

[tjon72]

I go between schwab and fidelity, think all the offerings are FDIC

 

[explanade]

Only 3.5 stars on bauerfinancial.com for Everbank.

They have high intro 3-month rates for MM and checking?

So if you do the CDARS thing, would the rates be lower than the regular CD rates?

And would they automatically place all of your deposits at other CDARS institutions at the rate they advertise?

 

[CybrMike]

They have a great rate. Depending on business or personal. I think its like 3.25%. It's on their site.

 

[youbet]

What about deferred money? Are folks actually transferring IRA money from institution to institution following the best CD rates? Or, for deferred money is it more common to just stay with someone like Fidelity or Schwab where you can buy brokered CD's offered by many institutions?

 

[Goonie]

I have 3 CD's at ING, as well as some other accounts there. The rates just went up on 8-26, to 4.0% APY for 12-48 month CD's, and 4.25% APY for 60 month, all with no minimum required to open.

 

[FANOFJESUS]

What about deferred money? Are folks actually transferring IRA money from institution to institution following the best CD rates? Or, for deferred money is it more common to just stay with someone like Fidelity or Schwab where you can buy brokered CD's offered by many institutions?

That's why I stay with them to avoid all the paperwork and moving money.

 

[summer2007]

Thanks everyone

I have been taking a closer look at schwab. I found out that my CD with fidelity that the interest just goes into the core account which paid like .79% and the most I could get it to earn is if I switched to one that paid 1.69% ....I would rather have it put into the select money market. So vanguard wins on that one since interest goes right into prime money market.

Cutefuzzybunny I wanted to say thanks for a post you made a while back on prepaid cell phones...it was right on and helped me out a lot!

Jim

 

[explanade]

Is this a good time to lock into CDs?

It seems rates are creeping up a bit.

Of course, there are some predictions of the Fed raising rates after the election.

But with the decline in the prices of oil and other commodities, Fed may continue to focus more on growth than price stability.

 

[Art G]

Now is not the time to be buying CD's based purely on yield. Instead you should be checking out the ratings on the banks. To get a quarter point higher yield is not worth the grief you may end up going through if the bank goes belly up. JMO

 

[FANOFJESUS]

Is this a good time to lock into CDs?

It seems rates are creeping up a bit.

Of course, there are some predictions of the Fed raising rates after the election.

But with the decline in the prices of oil and other commodities, Fed may continue to focus more on growth than price stability.

I would only go out 18 months or less on CD's right now.

 

[explanade]

Hmm, I was thinking less than one year and maybe even some high savings accounts while waiting to see what happens after the election and the first quarter/half of next year.

 

[FANOFJESUS]

Sounds good.

 

[DallasGuy]

FDIC insurance limits: This is a little off topic here, but I was wondering if I understand something I found out yesterday correctly. Yesterday I was told at a bank that if I set up my accounts with multiple POD's (payable on death beneficiaries), that I would have more than $100,000 FDIC insurance coverage. For example, if I set up my accounts at a bank with my mother and 2 sisters as POD's, I would have $300,000 FDIC insurance coverage (instead of $100,000). This was news to me and from now on I plan on putting more than one POD on all my new accounts. Is anyone here familiar with this FDIC law/rule and am I understanding it correctly?

I actually have more than $100,000 at Key Bank, so this will put my mind at ease once I get the POD designations changed on my accounts.

 

[REWahoo]

DallasGuy, this FDIC website should help answer your question: FDIC: Electronic Deposit Insurance Estimator (EDIE) – Online Version

 

[wolf]

Been buying Cd's for many, many ,years now. As mentioned earlier, "bankdeals.blogspot.com" is an excellent site. Much better than BankRate.com. IMHO.

In the past I purchased CD's at Vanguard. I noticed the CD rates were in general 1/2% less yield when compared to buying the CD's directly from the bank/credit union. That is why I quite using Vanguard for CD's.

I figure the rates were lower at Vanguard because the issuing institution had to pay Vanguard a fee. (Since Vanguard charges no fees for new issue CD's).

Lately, I've found I've received the best rates at CREDIT UNIONS! Also, a local credit union use match other institutions rates up to 1% over their existing rates. You have to ASK ABOUT MATCHING RATES.

 

[summer2007]

Wolf

I thought of doing something similar but isn't it a pain to be buying cd's from a bunch of different places having to set up the accounts and all that rather than going with one brokerage?

Jim

 

[youbet]

Wolf

I thought of doing something similar but isn't it a pain to be buying cd's from a bunch of different places having to set up the accounts and all that rather than going with one brokerage?

Jim

Jim.....

Go to the Schwab site and look at available CD rates. Then compare to the rates you could get by opening accounts at assorted banks and credit unions (those named to have the highest rates by the rating sites mentioned earlier). If the difference is worth it, say one half percent or so, open the separate accounts. If not, don't.

When I did this, I found that there were some shorter term (one year) rates available in my area that beat the brokered CD's available at Schwab. They required a branch visit and were obviously leaders designed to attract new money to the bank. But they are in the Chicago area where I live and worth the effort as long as the CD amount will be large. I didn't see anything available that beat the offered brokered CD's for longer term (five years) CD's.

See what you find.