Best CD & MM Rates Thread 2019 - Please post updates here

[pb4uski]

^^^^ If you have a Vanguard MM fund and checks, you could just write a check and deposit it at one of their physical locations or exress mail it to them.

 

[Another Reader]

I submitted documents via their server, which were rejected for being fuzzy. I think it's the lines in the driver's license. The closest branch is an hour and a half away in Monterey, on a secure base with no public access. Not going to get in on this deal. Oh, well...

 

[Debinnov a]

I like the GTE cu 3% 5 year add on cert. I opened with a 500 dollar balance and at any time in the 5 years I can add to it in any amount and get the 3 percent.

I view it as cheap “interest rate decline insurance “

If we follow Europe 3% will look awesome!

Is this GTE Federal CU or a bank? Trying to research and can't find website. Is this still available, do you know?

 

[Debinnov a]

Never mind, found it. GTE Financial.

 

[Dtail]

I like the GTE cu 3% 5 year add on cert. I opened with a 500 dollar balance and at any time in the 5 years I can add to it in any amount and get the 3 percent.

I view it as cheap “interest rate decline insurance “

If we follow Europe 3% will look awesome!

Thanks for the info.
Found out there is a branch literally 5 minutes from me. They have a 3.25% jumbo CD version (over 100k).
I can't get to the Space Coast CU until next Thursday, so either them at 3.5%, or if they come down in rates to 3.25%, then GTE unless they come down too.

 

[almost there]

How does one get "locked in"? I signed up and submitted all the paperwork to them on 8/1.... they mailed to Vanguard, Vanguard mailed out a check yesterday and the impression that I have is that worst case I get locked in when the check is received... perhaps even earlier.

From a cash account at the broker the funds came from, I could wire same day doing it my self online. Simple wire form. Name, account number and routing number. Added notes "Roth to Roth transfer". And the account number again in the notes. (Did 2 of them yesterday, mine and my brides) I set up the new accounts with NFCU in advance. As you need a place for it to go 1st. And the new account numbers.
Not all "representatives" at NFCU are equal. I got lucky with a veteran in the IRA dept. She put notes on my account to lock the rate. But did call 1/2 dozen times making sure it went smoothly. All day task. But, it was a same day transfer. Doing it this way, means zero forms to submit. It was a Roth IRA to Roth IRA transfer. Have done several over the years, and this was the best to date. The worst? Was Vanguard. Cut ties with them yrs ago. After over 20 years with them. Who wants to wait weeks or more to move money? At one point they had 500k of mine floating in the mail. Took 4-5 weeks total. No thanks.

 

[Aerides]

For a MM:

$50k with capital one for 90 days earns a $500 bonus, and is paying 2%, on accounts opened by 8/31.

Might be a good idea for short term cash not in CD's...

https://www.capitalone.com/cash500/

 

[pb4uski]

^^^^ or even a 1-year hold.... 3% for the year if the MM yield stays at 2%.... or 2.5% for a 2 year hold.

 

[BeachOrCity]

Thanks for the info.
Found out there is a branch literally 5 minutes from me. They have a 3.25% jumbo CD version (over 100k).
I can't get to the Space Coast CU until next Thursday, so either them at 3.5%, or if they come down in rates to 3.25%, then GTE unless they come down too.

Remember it is an Add on. So even if you deposit, you can add to it.

 

[HI Bill]

Just received an offer from American Express....2.10% APR on a savings account. No fees, FDIC insured, no minimum balance. Good place for short-term cash?

 

[audreyh1]

Just received an offer from American Express....2.10% APR on a savings account. No fees, FDIC insured, no minimum balance. Good place for short-term cash?

Yes. I’ve had a high yield savings account with them for over 5 years. They have been excellent. Fast transfers.

Synchrony bank has a bit higher yield - 2.15%. Also good.

Neither has dropped their rate recently like Ally did. But if rates keep dropping these will come down too.

Good source to compare rates https://www.depositaccounts.com/savings/

 

[Golden sunsets]

Yes, but this offer is rolled out regularly, most recently last October. Anyone who has opened a saving product since 2016 is ineligible.

For a MM:

$50k with capital one for 90 days earns a $500 bonus, and is paying 2%, on accounts opened by 8/31.

Might be a good idea for short term cash not in CD's...

https://www.capitalone.com/cash500/

 

[calmloki]

Trying to get in on the Navy 3.5% 5 year certs. They are happy to do a check(?) draw from another checking account at a different bank. Not an ACH. Or we could do a wire transfer. Problems developed this morning: first, our East Boston Savings Bank account is a saving account , so no pseudo-check draw. Not linked to Navy, no time to verify micro-deposits, so no simple transfer of money. Bite the bullet Mr. Cheapo - spend the $25 on a wire. Only thing is EBSB saying I have to come into a branch office (on the wrong coast) and display my driver's license while reciting magic passwords.

Breathing deeply. OK, how about I open a free checking account at EBSB and transfer money out of our EBSB savings account into it, then have Navy do it's air check draw. EBSB rep says that can be done, but they need to have me fill out forms they will mail me. Mail me?!? Tick tock. I thanked the nice lady for the help she gave me. Oddly enough, I was able to open an EBSB account online immediately thereafter and transfer money out of our EBSB savings account into it Then called Navy and asked that they do a couple air checks and open three of the 5 year certs. Sometimes people say that which is not so, through imperfect understanding.

 

[Dtail]

I like the GTE cu 3% 5 year add on cert. I opened with a 500 dollar balance and at any time in the 5 years I can add to it in any amount and get the 3 percent.

I view it as cheap “interest rate decline insurance “

If we follow Europe 3% will look awesome!

Just did the same today with $500.
Hopefully will lock down 3.25% tomorrow for the jumbo version. Did the wire transfer mode (for free), so will have to deal with the 1099/5498 tax reporting.
Unfortunately do not qualify for Space Union CU at 3.50%.

 

[Henry Lili]

Agree on thr GTE add -on CD as "insurance" to further rate declines. I applied today. Have lots of Cds maturing in the nextb 6-12 months . Nice to have the 3yr add-on at 2.84 (i think) as a back-up plan.

 

[Gotadimple]

Breathing deeply. OK, how about I open a free checking account at EBSB and transfer money out of our EBSB savings account into it, then have Navy do it's air check draw. EBSB rep says that can be done, but they need to have me fill out forms they will mail me. Mail me?!? Tick tock. I thanked the nice lady for the help she gave me. Oddly enough, I was able to open an EBSB account online immediately thereafter and transfer money out of our EBSB savings account into it Then called Navy and asked that they do a couple air checks and open three of the 5 year certs. Sometimes people say that which is not so, through imperfect understanding.

And sometimes, the branch staff are not trained to adequately deal with certificates. That's been my experience with adding CDs to an account our condo association has with a local bank.

It's like pulling teeth without the novacaine.
- Rita

 

[calmloki]

Just got off the phone with Navy. The phone rep was soooo helpful - stark contrast with the EBSB rep. I had screwed up and bought two "Easy Start" 1 year 3.5% certs for a maximum of $3000 each last week - glossed over the requirement for direct deposits. The rep today was able to close those Easy Starts and fold the two $3000 amounts into the three 5 year 3.5% certs he set up with the EBSB money. Start date for the five year certs is backdated to the date Navy requested funds from EBSB.

Uniform excellent service from Navy - I'm very impressed.

 

[bmcgonig]

Just got off the phone with Navy. The phone rep was soooo helpful - stark contrast with the EBSB rep. I had screwed up and bought two "Easy Start" 1 year 3.5% certs for a maximum of $3000 each last week - glossed over the requirement for direct deposits. The rep today was able to close those Easy Starts and fold the two $3000 amounts into the three 5 year 3.5% certs he set up with the EBSB money. Start date for the five year certs is backdated to the date Navy requested funds from EBSB.

Uniform excellent service from Navy - I'm very impressed.

My IRA transfer check is "in the mail" from E-Trade. Started the whole process 18 days ago. Navy told me they can't guarantee the rate and that I'll get whatever rate is available when the check arrives. Their request to E-Trade was snail mail, and it seems that the check is sent by snail mail. No idea why in this day and age.

 

[Dtail]

My IRA transfer check is "in the mail" from E-Trade. Started the whole process 18 days ago. Navy told me they can't guarantee the rate and that I'll get whatever rate is available when the check arrives. Their request to E-Trade was snail mail, and it seems that the check is sent by snail mail. No idea why in this day and age.

It is crazy. I just signed up with GTE for their special. Luckily, there is a branch 5 minutes from my house.
I chose to not wait out the trustee to trustee process, which usually avoids the 1099R form being generated.
So had Fido send the wire and then opened up the account within 2 days. Will deal with the 1099/5498 forms come tax time.

 

[Bruno]

I renewed my Personal Choice annuity for 5 yrs @3.92% with a free 10% withdrawal. Don't put your money here if you want it out early for sure they have high surrender charges. https://sslco.com/content/personal-choice

NFCU = only game in town at the moment.
Scored on their 40 month 3.75% $150k max cd earlier in the year.
17 month ok to add cd 3.25% started in Feb.
And am sweating the 5 yr 3.50% holds till Thurs as I have 140k in route.
That should show up Wed-Thurs............

Pen Fed 3.4 5yr, Ally 2.75 1 yr, and Mountain America 3.25-3.5 5yr, were great 8-12 months ago. But no mas.
Did score with brokered 12 month 2.7% CD's at Ch Schwab though. Was able to sell them last week at 100+%. As Ch Sch CD's are falling like a stone.
Their 5 yr is barley 2% now.........
Am locking everything up I can up for 5 yrs. As things do not look too good going forward. I can sleep like a rock with a 3.5% average..Just my take.
No idea why we had the rate cut this month. And again in Sep. But here we are.
Politics I guess. Huge Trump supporter over here. Until it comes to interest rates.

 

[pb4uski]

My IRA transfer check is "in the mail" from E-Trade. Started the whole process 18 days ago. Navy told me they can't guarantee the rate and that I'll get whatever rate is available when the check arrives. Their request to E-Trade was snail mail, and it seems that the check is sent by snail mail. No idea why in this day and age.

Same thing here.... Vanguard mailed the check on Aug 12 and they have told me the same thing....I'll be pissed if I don't get the 3.5%... perhaps enough to have then send it back to Vanguard for spite even if they are offering a decent rate but below 3.5%.

What really makes me made is that they called me when they received my transfer paperwork and I told them that I wanted them to instruct Vanguard to wire it.... they said if I had wanted that that there was a section of the application that I should have filled out but they said that they would requet Vanguard to wire it... Vanguard said that the paperwork that they received did not request a wire which is why the sent the check by mail. If they don't give me the 3.5% because they didn't request a wire as they told me I may complain to their regulator.

 

[pb4uski]

I renewed my Personal Choice annuity for 5 yrs @3.92% with a free 10% withdrawal. Don't put your money here if you want it out early for sure they have high surrender charges. https://sslco.com/content/personal-choice

A.M. Best B++ ..... no thank you.... the slight difference in yield isn't worth the negligible increased credit risk.

 

[ShokWaveRider]

A.M. Best B++ ..... no thank you.... the slight difference in yield isn't worth the negligible increased credit risk.

We actually agree on something. Absolutely not worth the risk with any sub A or A+ institution.

 

[Bruno]

A.M. Best B++ ..... no thank you.... the slight difference in yield isn't worth the negligible increased credit risk.

Not much RISK here in Oklahoma. Just don't go over the Guarantee amount of $300K by Oklahoma Life & Health Insurance Guaranty Association.

https://www.oklifega.org/FAQ/

 

[pb4uski]

I agree that the credit risk is negligible given regulatory constraints and guarranty protections.... but increase in yield is negligible as well.

3.5% FDIC insured vs 3.92% guaranty association insured isn't much of a decision to me (and I worked in the industry)... to me the 12% ncrease in yield isn't worth it.