Ally up to 1.50%

[4legsgood]

I noticed today that Ally is offering 2% rate on 3 month CDs thru Fidelity. Quite a bit higher than their 1.5% offered online, which is also lower than their high yield savings rate.

Two other new issue offers listed for 3 month CDs at 2.05%

Very short term rates seem to have stepped up since last week? Didn’t see offers higher than 2.35% for 12 month new issue CD last week, now see several for 2.45%.

I bought some 2% 3 month. 3 months is a good time frame for those waiting for higher rates. Next Fed meeting where they may raise rates is in September.

Fingers crossed!

 

[GalaxyBoy]

Looks like Ally's savings accounts went from 1.65% to 1.75% today. Might have to retitle this thread again soon.

 

[Another Reader]

Looks like the anticipated yields at next week's Treasury auction are 1.80 for one month, 1.93 for three months, and 2.11 for six months. These are not subject to state income tax.

If you are not subject to the blue sky rules, you can get 1.90 for one month, 2.10 for three months, and 2.25 for six months, but there is a delay in the purchase date.

ETA: The Ally three month CD's were sold out, but I picked up some from another bank for three months at the same 2.00 percent.

 

[wolf]

Rather than "chase" savings rates. I'm putting liquid $ in Vanguard Prime Money Market fund. Yield around 2% now.

Granted not FDIC. But with rising rates. MM tends to follow. Much simpler.

 

[audreyh1]

Looks like Ally's savings accounts went from 1.65% to 1.75% today. Might have to retitle this thread again soon.

Well OK!, that’s better! Second hike in a month, I believe.

 

[nwsteve]

Ally's newest rates also features the return of their No Penalty withdrawal, 11 Month CD, now at 1.85 for 25K+

 

[aja8888]

Ally's newest rates also features the return of their No Penalty withdrawal, 11 Month CD, now at 1.85 for 25K+

With the new savings rate of 1.75% it's hardly worth putting it in the 11 month CD unless you put in a huge amount.

 

[audreyh1]

Ally's newest rates also features the return of their No Penalty withdrawal, 11 Month CD, now at 1.85 for 25K+

That’s better too - still needs to go up.

The 11 month CD has had a special, in the past, of gaving a nice jump in late Nov or Dec.

 

[audreyh1]

With the new savings rate of 1.75% it's hardly worth putting it in the 11 month CD unless you put in a huge amount.

It’s very little effort.

 

[aja8888]

It’s very little effort.

Yes, on $25K the interest difference (1.85% - 1.75%) would be $25 before taxes, or around $20.

 

[SumDay]

Rather than "chase" savings rates. I'm putting liquid $ in Vanguard Prime Money Market fund. Yield around 2% now.

Granted not FDIC. But with rising rates. MM tends to follow. Much simpler.

I'm doing the same.

 

[googily]

Rather than "chase" savings rates. I'm putting liquid $ in Vanguard Prime Money Market fund. Yield around 2% now.

Granted not FDIC. But with rising rates. MM tends to follow. Much simpler.

+1. Except for the 2% one-year CD I got at Ally back in April. But basically all other cash is now in VMMXX.

 

[BladeS.]

I've placed some $$ with CIT Bank. Their current MM rate is 1.85% and it's FDIC. They are also offering a 1 year CD at 2.5%. Setting up the MM was easy and they were very helpful on the phone when I needed to ask questions.

 

[simple girl]

I've placed some $$ with CIT Bank. Their current MM rate is 1.85% and it's FDIC. They are also offering a 1 year CD at 2.5%. Setting up the MM was easy and they were very helpful on the phone when I needed to ask questions.

+1

 

[Mark24609]

Those are not bad rates. I get mine through Vanguard where they have all the rates per banks so I choose the highest

 

[audreyh1]

Andrews FCU just introduced a 2.75% 9 month CD special. Limited to one CD per customer.

https://www.andrewsfcu.org/whats-new/promotions/specials.html#goto_1

 

[retired1]

Andrews FCU just introduced a 2.75% 9 month CD special. Limited to one CD per customer.

https://www.andrewsfcu.org/whats-new/promotions/specials.html#goto_1

Wow! This is highest short term CD rate I've seen. Thanks !!

 

[simple girl]

Andrews FCU just introduced a 2.75% 9 month CD special. Limited to one CD per customer.

https://www.andrewsfcu.org/whats-new/promotions/specials.html#goto_1

Yes, thank you!

 

[MJ]

Muchas gracias.
Btw, if you want to join the credit union and don't qualify, join the American Consumer Council for free and use the promo code Andrews.

 

[Dave J]

In July 2016 I joined Andrews to take advantage of a 3% CD special they had for my Roth IRA. Anyone joining, prepare for delays and several phone calls and time on hold to get your membership and CD started. Not an easy join. In person may be different. Otherwise, they have done fine, but I have had no other dealings with them but check account every 3 months.

 

[jazz4cash]

In July 2016 I joined Andrews to take advantage of a 3% CD special they had for my Roth IRA. Anyone joining, prepare for delays and several phone calls and time on hold to get your membership and CD started. Not an easy join. In person may be different. Otherwise, they have done fine, but I have had no other dealings with them but check account every 3 months.

Yeah the customer service can be spotty.
I had no problems getting qualified and joining up online. I did call them once and it was not the best experience. I funded the CD in person and that went well also. I usually download the forms and fill them out before I go. I think the forms were not too easy to locate on the website and fill out. They can be mailed in also.

 

[audreyh1]

Fortunately I was able to cancel a CD purchase through Fidelity from last week that didn't settle until 7/13, and transferred the funds to Andrews instead.

Funds showed up the next day at Andrews, and I was able to buy the 9 month CD special.

 

[MJ]

Fortunately I was able to cancel a CD purchase through Fidelity from last week that didn't settle until 7/13, and transferred the funds to Andrews instead.

Funds showed up the next day at Andrews, and I was able to buy the 9 month CD special.

Did you transfer up to $10K (their limit) through them?
I am transferring a much higher amount so I had to wire the funds. Hopefully the funds will arrive by tomorrow PM so I can open that 9 month CD.

 

[audreyh1]

Did you transfer up to $10K (their limit) through them?
I am transferring a much higher amount so I had to wire the funds. Hopefully the funds will arrive by tomorrow PM so I can open that 9 month CD.

There are no such limits if you initiate the transfer from the source institution (assuming the source institution has much higher limits). I had no trouble transferring in a larger amount via ACH, initiating it at my brokerage.

 

[njhowie]

Fortunately I was able to cancel a CD purchase through Fidelity from last week that didn't settle until 7/13, and transferred the funds to Andrews instead.

Funds showed up the next day at Andrews, and I was able to buy the 9 month CD special.

Good job.

That is actually one reason I like the new issue CDs at Fidelity that have an issue/settle date a few days or a week or so later - if rates adjust or something better shows up you can just click the button to cancel. I've done it a few times in the past.

In addition to my CD acquisitions lately (3.11% for 2.5 years today, 3.52% for 5 years yesterday), I've also continued churning the bank bonus offers for opening new checking/savings accounts. Those are getting me up to 25% APY. I've encountered a couple banks that give me push back where they won't open an account if they can't do a credit check - I have mine frozen and won't unfreeze it for them to play their games. Aside from that, it's easy risk free money.