Join Early Retirement Today
Closed Thread
 
Thread Tools Display Modes
Best CD, MM Rates & Bank Special Deals Thread 2021 - Please post updates here
Old 01-01-2021, 06:24 AM   #1
Administrator
Gumby's Avatar
 
Join Date: Apr 2006
Posts: 22,923
Best CD, MM Rates & Bank Special Deals Thread 2021 - Please post updates here

New Year, new thread.
__________________
Living an analog life in the Digital Age.
Gumby is online now  
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-01-2021, 09:12 AM   #2
Thinks s/he gets paid by the post
njhowie's Avatar
 
Join Date: Mar 2012
Posts: 3,925
On 12/30, harley posted:

Quote:
Not sure if this has been mentioned, but Chase has a deal going where if you're not an existing customer you can start a checking account (with Direct Deposit) and get $200, open a savings account ($15K for 90 days) and get $200, or do both and get $500. I'm not eligible having done the last deal, but I thought I'd pass it on in case anyone is interested.

https://account.chase.com/consumer/b...asehome_3/hero
There is also a $150 savings offer for $10k with same terms.

https://account.chase.com/consumer/banking/NV29427

Yesterday I opened $15k/$200 savings under DD's existing Chase account using harley's link. That link is no longer working this morning.

Today I opened the $10k/$150 under my Chase account, and another $10k/$150 under DW's Chase account.

It's been just a month over 2 years since we last did these with Chase.
njhowie is offline  
Old 01-01-2021, 12:46 PM   #3
Thinks s/he gets paid by the post
njhowie's Avatar
 
Join Date: Mar 2012
Posts: 3,925
Citizens Bank is also offering similar offer to Chase's for both checking and savings:

https://www.citizensbank.com/promo/cash-offer-600i.aspx
njhowie is offline  
Old 01-01-2021, 12:57 PM   #4
Recycles dryer sheets
 
Join Date: Aug 2018
Posts: 342
Happy new year to everyone!!

I had a guest from my Airbnb. He is from Pakistan. He introduce me a Pakistan bank product.

It can be invested to USD so no exchange rate etc.

5.5-7% based on investment period.

https://www.sbp.org.pk/RDA/index.html

I didnt dig up much. welcome to know to pros and cons.

I haven't decided to invest there though. I just wanted to share with you here.

Hope we have a better year and stay safe.

Thanks.
retire to nature is offline  
Old 01-01-2021, 01:07 PM   #5
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,000
^ Yikes!
__________________
Numbers is hard
REWahoo is offline  
Old 01-01-2021, 01:25 PM   #6
Administrator
Gumby's Avatar
 
Join Date: Apr 2006
Posts: 22,923
I think "Location: STL" must mean "streets of Lagos".
__________________
Living an analog life in the Digital Age.
Gumby is online now  
Old 01-01-2021, 01:33 PM   #7
Full time employment: Posting here.
mn54's Avatar
 
Join Date: Sep 2007
Location: mpls, mn
Posts: 761
but it says it's risk free. what could go wrong?
mn54 is online now  
Old 01-01-2021, 01:36 PM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,204
Quote:
Originally Posted by REWahoo View Post
^ Yikes!
plus it is only open to non-resident Pakistanis as I read so of limited use here.

Quote:
Q1. Who can open a Roshan Digital account?

A. Non-Resident Pakistanis and resident Pakistanis with wealth declared abroad can open a Roshan Digital account with Standard Chartered.
https://av.sc.com/pk/content/docs/pk...ar-account.pdf
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.

Retired Jan 2012 at age 56
pb4uski is offline  
Old 01-01-2021, 02:36 PM   #9
Recycles dryer sheets
 
Join Date: Aug 2018
Posts: 342
Quote:
Originally Posted by Gumby View Post
I think "Location: STL" must mean "streets of Lagos".
I am not sure it is about me in STL?? Couldn't get correct Lagos meaning. It say Nigeria. It means my reply sounds like a scam?

He stayed my place in a month to get a fund for his start up business. He used to be a banker in Pakistan.

my location in STL is nearby Cortex, BioSTL etc, a lot of venture business.

so we talked about things deeply. He is not a flaky guy about the information he gave me.

He mentioned of Pakistan only, but I must not catch it right.
retire to nature is offline  
Old 01-01-2021, 02:54 PM   #10
Recycles dryer sheets
 
Join Date: Aug 2018
Posts: 342
Quote:
Originally Posted by pb4uski View Post
plus it is only open to non-resident Pakistanis as I read so of limited use here.



https://av.sc.com/pk/content/docs/pk...ar-account.pdf
so it was for only Pakistanis right? non resident Pakistanis- means Pakistanis but live in abroad. did i understand right?

I was thinking foreigner would be ok to invest.
retire to nature is offline  
Old 01-01-2021, 02:59 PM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
RunningBum's Avatar
 
Join Date: Jun 2007
Posts: 13,184
Let us know how it goes.
RunningBum is offline  
Old 01-01-2021, 05:25 PM   #12
Thinks s/he gets paid by the post
rk911's Avatar
 
Join Date: Dec 2018
Location: DuPage County IL
Posts: 2,697
a snowball in you know where would have a better chance.
__________________
Rich
Ham Radio, Sport Pilot, RVer
FIRE: 8/11/2005, age 55y,1d
Dispatcher, then shift supv, then administrator for a regional 9-1-1 call center
rk911 is offline  
Old 01-01-2021, 06:23 PM   #13
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Sunset's Avatar
 
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 16,972
I think I'll just buy lottery tickets instead, more of a sure thing.
__________________
Fortune favors the prepared mind. ... Louis Pasteur
Sunset is offline  
Old 01-02-2021, 08:35 AM   #14
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 37,931
Some confusion on my part on when Ally pays interest on their CDs. I have pay at maturity selected for all my CDs, but it was my understanding that there would also be a payment of accrued interest on Dec 31 of each year.

Turns out that for CDs with periods less than 12 months, there is no Dec 31 payment of accrued interest. So the No Penalty CDs at 11 months pay nothing on Dec 31. Only my two 14 month CDs paid accrued interest on Dec 31.

Reduces my 2020 taxable income. I have several No Penalty CDs maturing in Jan, Feb and March 2021.
__________________
Retired since summer 1999.
audreyh1 is online now  
Old 01-02-2021, 08:49 AM   #15
Dryer sheet aficionado
 
Join Date: Jan 2014
Posts: 31
audreyh1 - That's interesting/annoying. I am in the same boat and was expecting that interest to be included in 2020. Guess I am going to have to update my 2021 planning. Thanks for the info!
CountingDown2014 is offline  
Old 01-02-2021, 09:00 AM   #16
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
calmloki's Avatar
 
Join Date: Jan 2007
Location: Independence
Posts: 7,271
Quote:
Originally Posted by audreyh1 View Post
Some confusion on my part on when Ally pays interest on their CDs. I have pay at maturity selected for all my CDs, but it was my understanding that there would also be a payment of accrued interest on Dec 31 of each year.

Turns out that for CDs with periods less than 12 months, there is no Dec 31 payment of accrued interest. So the No Penalty CDs at 11 months pay nothing on Dec 31. Only my two 14 month CDs paid accrued interest on Dec 31.

Reduces my 2020 taxable income. I have several No Penalty CDs maturing in Jan, Feb and March 2021.
Very Good! At mostly 1.5% on the CDs this won't make a huge difference, but selling an old 9-plex last year means anything I can keep out of the 35% bracket is very welcome.
__________________
"Be kind whenever possible. It is always possible." Dalai Lama
calmloki is offline  
Old 01-02-2021, 09:08 AM   #17
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 37,931
I think online at Ally you can modify how often interest is paid while the CD is still open, so for those wanting interest to be paid during a given year, they can change to quarterly or whatever.
__________________
Retired since summer 1999.
audreyh1 is online now  
Old 01-02-2021, 10:21 AM   #18
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Sunset's Avatar
 
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 16,972
I also have some CD's maturing next year, that didn't pay my interest.
I was thinking this makes everything a bit harder, as isn't interest in the USA taxable the year it's earned, regardless of when paid

It's a small amount, and perhaps Ally includes the interest in the tax statement (if it's taxable) so I won't have to do extra effort
__________________
Fortune favors the prepared mind. ... Louis Pasteur
Sunset is offline  
Old 01-02-2021, 11:37 AM   #19
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 37,931
I don't think so, because I have interest bearing accounts that pay interest, say mid-month, even though I have earned a bit more by the end of Dec. They don't have to pay me a bit more on Dec 31.

I had to go back to Dec 2018, at which time I was holding 5 No Penalty 11 month CDs at Ally. Looking at the 2018 1099-INT, none of these CDs are listed for accrued interest during 2018. They didn't pay out until maturing or early withdrawal in 2019, so they didn't count against my 2018 taxes.

There must be some rule about paying accrued interest within a 12 month period.
__________________
Retired since summer 1999.
audreyh1 is online now  
Old 01-03-2021, 01:02 PM   #20
Thinks s/he gets paid by the post
 
Join Date: Feb 2007
Posts: 3,678
An update from a promo that we started in Oct 1, 2020 -
Quote:
I heard about this Dollar Bank promo offer this morning on the radio. I know it's good in OH, VA and PA.

https://www.dollar.bank/Personal/Workplace-Banking/Offers/Get-$400

The bonuses are paid out in steps, some as debit card rebates, some as checking account credits (hmm, what's the difference?) and then the last $100 at your one year anniversary. Checking account has a $5 monthly fee unless you have $2500 average collected balance or six payments https://www.dollar.bank/Personal/Ban...ation-Schedule

The bonuses are tied to the amount of direct deposits within 90 days.

I feel like somebody at the bank is going out of their way to invent new hoops to jump through! Dollar Bank is local to us and DHs pension direct deposit would get us the bonuses for that requirement. My Social Security deposit is already tied up from a previous bank promo (Key Bank $400) for a few more months.

We may go ahead and do this one. Our cash is sitting at DiscoverBank earning .60% as of this morning. I could park $2500 at Dollar Bank and get something out of it.

I just called Dollar Bank and asked some questions. You are issued a debit card and need to make $100 in purchases and then they refund $100 of that.

There is no credit check when you apply. There are verification questions based on public info.

"Average collected balance" can be satisfied by just leaving $2500 in there which is what I would do.

This promotion can all be done online, you don't have to go into a branch. This offer is for OH, PA and parts of VA in the Virginia
We got the $100 in debit card refund early on, right after making a purchase just over $100. DH's pension deposit went to this bank account on Nov 1 and Dec 1 and the $200 promo bonus has just posted on Jan 1, 2021! So we have received $300 of the $400 that we are eligible for.

We will keep this account open until the last $100 bonus posts on our 1 year anniversary. To avoid fees we are keeping a minimum balance of $2500. So that $100 is like getting 4% on our $2500. This is instead of having it at Discoverbank which is paying .5%.

This one had a lot of steps and takes a year to complete for the last $100 but was easy enough once we got it set up.
__________________
Married, both 69. DH retired June, 2010. I have a pleasant little part time job.
Sue J is online now  
Closed Thread


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Best CD, MM Rates & Bank Special Deals Thread 2020 - Please post updates here ShokWaveRider FIRE and Money 976 12-31-2020 10:51 PM

» Quick Links

 
All times are GMT -6. The time now is 08:51 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.