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

pb4uski said:
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.
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Can you explain to me where the 12% came from? Was this supposed to be .42% increase?
 
"Best CD & MM Rates Thread 2019"

Let's stick to the topic. Annuities do not qualify to be here - not even close.
 
njhowie said:
"Best CD & MM Rates Thread 2019"

Let's stick to the topic. Annuities do not qualify to be here - not even close.
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When i saw ppl talking about 5 yr CD I only think about making money. This is a fixed annuity. I do believe it would be a cousin to CD and MM. It would also be a lot harder to get into.

Please accept my apologies for getting off topic.
 
I would agree... a fixed rate deferred annuity is very similar to a CD.... one initial deposit and a rate fixed for a term... withdrawal penalty differs... stated as a % withdrawn vs a number of days of interest... different credit risk profile... but very similar.

If the 3.96% was offered by a A+ or A++ rated carrier then I would view them as very similar.

Another notable difference is that if iis a taxable account investment then interest isn't taxed until withdrawn... can be helpful if you have taxable account cash and want to invest to reduce income for ACA.
 
pb4uski said:
I would agree... a fixed rate deferred annuity is very similar to a CD.... one initial deposit and a rate fixed for a term... withdrawal penalty differs... stated as a % withdrawn vs a number of days of interest... different credit risk profile... but very similar.

If the 3.96% was offered by a A+ or A++ rated carrier then I would view them as very similar.

Another notable difference is that if iis a taxable account investment then interest isn't taxed until withdrawn... can be helpful if you have taxable account cash and want to invest to reduce income for ACA.
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Another possible advantage to those with children going to college (and who don't need the $ for college payments) is that annuities do not have to be reported on the FASFA (but do get reported on CSS for those schools requiring it). Disclaimer: I haven't done this, my knowledge (or lack of) is just from cruising on the internet.
 
pb4uski said:
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.
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Crap. They've dropped it to 3.25%. I don't think it's enough of a drop for me to tell them to send it back but it's really annoying.

https://www.navyfederal.org/products-services/checking-savings/certificates-rates.php
 
The US 2 year treasury is a good indicator of future short term/cash interest rates. Right now it’s around 1.5%. So we could expect to see savings and MM rates gradually drift down to that level.

Of course markets can changed their mind, and rates go back up before reaching that level.....
 
Locked in the GTE add on 3.30% 5 yr last Friday with 140k and the non jumbo add on 3% 5 yr. with $500 as insurance with non IRA monies.
Was looking heavily at Navy Fed, but saw how many of you had delayed paperwork issues, so went with GTE in person which is next door to me.
 
Navy sent me notices that my ID paperwork is inadequate but opened an account and ACH'd the initial deposit. Won't let me set up on-line access to said account. Guess it's time to call...
 
Another Reader said:
Navy sent me notices that my ID paperwork is inadequate but opened an account and ACH'd the initial deposit. Won't let me set up on-line access to said account. Guess it's time to call...
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I had maybe what is a similar problem, you HAVE to open a checking account to enable ACH bi-directional transfers, they will not allow 3rd party institutions to pull money from the savings account.
 
That Capital One 360 $500. Bonus is the best deal around. I've already done it once before so it's not available to me again. Literally free money and no hidden rules or requirements, just keeping the account open for 90 days.
 
Drake3287 said:
That Capital One 360 $500. Bonus is the best deal around. I've already done it once before so it's not available to me again. Literally free money and no hidden rules or requirements, just keeping the account open for 90 days.
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Not available if you have or had a CapOne savings product since 1/1/2016. Looking for other options as we have a 6 month $112k CD maturing at Andrews on the 28th.
 
Ally also has these cash bonus deals sometimes. Not sure what's currently available though.
 
Vanguard completed the verification of my NFCU checking account, so I initiated an ACH to NFCU checking after 4 PM. Now, I've still got some days to wait before I can purchase an 18 month or 5 year CD. Hopefully, there aren't any additional rate drops in the meantime.
 
Far as I know, Navy only changes their rates on Mondays. So we should (hopefully) have at least another week at this point to get the 3.25 5-year or 3% 18-month Certificates. (Thankfully, I was able to lock in the higher 5-year at 3.5 prior to the drop).

I was actually pleasantly surprised to see the 18-month still up there this AM. That's one compelling deal, even though the EWP is pretty brutal at 180 days dividends.
 
This seems like a good feature, the GTE Financial IRA cds let you take out 20% of the total cd value out per year without early withdrawal penalty if you are over 59.5. Maybe that is a common feature, but first time I've noticed it. I think I'll be able to make good use of that if I manage to get through the hoops and establish an IRA cd. That's in addition to their add-to feature and currently great rates.
 
4legsgood said:
This seems like a good feature, the GTE Financial IRA cds let you take out 20% of the total cd value out per year without early withdrawal penalty if you are over 59.5. Maybe that is a common feature, but first time I've noticed it. I think I'll be able to make good use of that if I manage to get through the hoops and establish an IRA cd. That's in addition to their add-to feature and currently great rates.
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Didn't notice that fine print when we signed up. Good to know. Thanks.
 
4legsgood said:
This seems like a good feature, the GTE Financial IRA cds let you take out 20% of the total cd value out per year without early withdrawal penalty if you are over 59.5. Maybe that is a common feature, but first time I've noticed it. I think I'll be able to make good use of that if I manage to get through the hoops and establish an IRA cd. That's in addition to their add-to feature and currently great rates.
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I have a several jumbo CDs maturing in 2020. I am nervous about where rates will be. I drove to a local branch of GTE Financial today. Opened a membership and opened the 5 year 3.04 apy add-on CD with an initial $500. Now I at least feel like I will have a place to park some money if rates go even lower. I'm going to need some IRA CDs too. Hope there will be something to choose from.

I'm currently retired so heavy into CDs. I was lucky and was able to purchase some 3.5 and even a bit higher percentage CDs this year. Still have a few 2.2% brokered CDs through Vanguard. Ugh...
 
You may want to the math and take a penalty . I hated to close two CD I had a 1.98 that mature in 2020 . They both had 180 day interest penalties but the return after 6 months covers the loss .

Slepp
 
Slepp said:
You may want to the math and take a penalty . I hated to close two CD I had a 1.98 that mature in 2020 . They both had 180 day interest penalties but the return after 6 months covers the loss .

Slepp
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That’s the sweet thing about these add-on CDs. No math required. You’ve reserved the rate and it only gets better with time. Right now I can get 3.2 % on a CD with 12 months left to maturity. I have others to choose from depending on when I need the proceeds.
 
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