Best CD, MM Rates & Bank Special Deals Thread 2023 - Please post updates here

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I bought a 1yr CD at 5.3% and a 2yr CD at 5.05% through Schwab yesterday. Both were non-callable. There may be some that may be a little bit higher if callable but I am happy with my choices. I also have a CD that matures in another month that will be used to buy another while the rates are up. No crystal ball here so I will keep buying as money becomes available and the rates are good.
I am in the spending down phase of life so chasing after higher returns in stock purchases is not my plan now. I have more than enough MFs and stocks as it is.

Cheers!
 
A bit longer duration: 2.5 yrs, non-callable, First Foundation Bank. Coupon is 4.950%/YTM is 5.011% ID#32026UV86
 
American Express increases it's interest rate on High Yield savings from 4.00 APY to 4.15 APY effective 8/1. Nice bump for a somewhat traditional bank, even if it is all internet-based.

CD rates are all over the board: 4.75% for 12-months, 4.25% for 24-months, 3.00% for 60 months, all other terms range from 1.00% to 1.20%
 
Marcus by Goldman Sachs is at 4.15%. If you're willing to jump thru some hoops you can get that to 5.25%. You need to sign up with a bonus referral you can easily find on Reddit to gain an additional 1% for 3 months. Add AARP to get an additional .1%. Once you open an account you will get your own referrals (5) which you can post on Reddit or elsewhere to get an additional 3 months for every referral effectively giving you 18 months of the higher rate if all your referrals are used. Within 2 weeks all my referrals on Reddit were used. The Good - you start earning interest when you initiate transfers into Marcus and their transfers are seamless. The Bad - no debit cards or checks and it's sort of a PIA with all the moving parts to maximize your rate.
 
Cit Bank Platinum is at 5.05% APY on minimum balance of $5K. Also free wire transfer if balance is $25K+
 
MJ said:
Cit Bank Platinum is at 5.05% APY on minimum balance of $5K. Also free wire transfer if balance is $25K+
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+1. The only thing needs to watch is pulling from CIT side would take a few business days before available, no like Ally which you can pull the next business day. So I try to push to CIT, which is available right away.
 
xlf11 said:
+1. The only thing needs to watch is pulling from CIT side would take a few business days before available, no like Ally which you can pull the next business day. So I try to push to CIT, which is available right away.
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As a rule, I push/pull money from Ally. One except for me has been Chase, which has 1 business transfer out.
 
calmloki said:
My *guess* would be that Treasuries end up having a lower purchase cost, as the risk is higher, so more return is expected. Ditto Agency bonds.
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That is my sentiment too.

10 year Treasury up 11 basis points today to 4.19%. Definitely on the move.
 
calmloki said:
My *guess* would be that Treasuries end up having a lower purchase cost, as the risk is higher, so more return is expected. Ditto Agency bonds.
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11522914 said:
That is my sentiment too.

10 year Treasury up 11 basis points today to 4.19%. Definitely on the move.
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Near term that makes sense to me too. Just wonder if/when CD's will see an impact at some point too.
 
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FlaMariner said:
Dominion Energy Reliability Investment Account at 5.5% for $50k +....Account works like an online savings account.....

https://investors.dominionenergy.co...on-energy-reliability-investment/default.aspx
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You are directly investing in Dominion debt obligations.


Dominion Energy Reliability Investment is not a money market fund. The investment is not subject to regulation under the Investment Act of 1940, as amended. Dominion Energy Reliability Investment is a direct investment of new debt obligations of Dominion Energy.
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Good luck!
 
I've owned DERI before. It does indeed function similar to an online savings account but it isn't FDIC insured, it is a general obligation of Dominion Energy akin to commercial paper.

5.5% for the degree of liquidity that it provides isn't bad if you are ok with the credit risk.
 
I was able to pick up a brokered CD in the secondary market today - 4 years for 5.5% and "effectively non-callable".

It's effectively non-callable because although it is callable beginning in December, the coupon is 1.1%, and so the issuer (JPM) would not be calling unless rates fell below 1.1%. I paid 84.65 for it.

However, should JPM decide to call it, I'd immediately capture the capital gain from 84.65 to 100, which is also ok by me.

CUSIP = 48128U5Q8
 
njhowie said:
I was able to pick up a brokered CD in the secondary market today - 4 years for 5.5% and "effectively non-callable".

It's effectively non-callable because although it is callable beginning in December, the coupon is 1.1%, and so the issuer (JPM) would not be calling unless rates fell below 1.1%. I paid 84.65 for it.

However, should JPM decide to call it, I'd immediately capture the capital gain from 84.65 to 100, which is also ok by me.

CUSIP = 48128U5Q8
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That’s a great deal. How do you find these? Do you logon every day searching for a deal or is there any software that will send you notice when a deal is available meeting your parameters? Seems like it would be easy for a brokerage to provide an automated notice that would help both buyers and sellers.
 
Earl E Retyre said:
That’s a great deal. How do you find these? Do you logon every day searching for a deal or is there any software that will send you notice when a deal is available meeting your parameters? Seems like it would be easy for a brokerage to provide an automated notice that would help both buyers and sellers.
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Thanks. I do actively trade fixed income (primarily buying and reinvesting as maturities, interest, and redemptions roll in), so I am logged on daily searching. I do have some predefined queries stored at Fidelity which facilitates it for me.
 
I have 2 CDs maturing in 2 weeks. Got a courtesy call from the credit union today telling me that I can roll them into 2 CDs today without taking a penalty. The new rate is 5.25% for my choice of 8 months, 11 months, or 15 months. I said THANKS !!!!
 
Just an observation, since last weeks .25% Fed increase I haven't noticed any brick and mortar or online banks increase their rates (at least here in CA) yet. I had a $100k CD at a local bank come due the other day and all they offered was 4.60% so I took my money and ran. Around here 5% seems to be the norm and unfortunately it's holding steady.

Feds might still be raising rates but that certainly doesn't mean banks are following like they were several months ago. At this point I'm more interested in longer terms than the rate itself anyway.
 
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