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

[BeachOrCity]

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!

[GenXguy]

Quote:

Originally Posted by 24601NoMore One word of caution on the NFCU Certs - the 3% 18-month has a 180 day EWP, and the 3.5% 5-year has a 365 day (!) EWP..

I had read that somewhere, but it wasn't a concern for me. I've never withdrawn a CD early in my life.

[Golden sunsets]

Quote:

Originally Posted by pb4uski Yeah, those are a bit stiff but I don't think I'll need the money in 5 years and they do allow partial withdrawals with the EWP applying only to the amount withdrawn.

Good to know. I bought one a few weeks ago, thinking I will have no need, but you never know.

[24601NoMore]

Quote:

Originally Posted by GenXguy I had read that somewhere, but it wasn't a concern for me. I've never withdrawn a CD early in my life.

Us either, but I'm looking for a new home for some funds currently in VMMXX and some of those $s could be needed in <5 yrs if we ever do find a new house to buy..sure would be nice to get the 3.5% yield, though if the EWP weren't so severe..

[GenXguy]

If the NFCU special ends on the 18th, it's not looking promising for me. I'm still waiting on Vanguard to complete the verification of the NFCU account, which could be about a week, and then I have to complete a transfer to my NFCU account as well. I hate to miss out, and I expect a lower rate with their next special.

[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]

Quote:

Originally Posted by BeachOrCity 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]

Quote:

Originally Posted by BeachOrCity 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]

Quote:

Originally Posted by pb4uski 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]

Quote:

Originally Posted by Dtail 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]

Quote:

Originally Posted by HNL 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?

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.

Quote:

Originally Posted by 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/

[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]

Quote:

Originally Posted by BeachOrCity 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.