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Old 11-19-2020, 06:51 AM   #861
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Thanks for the information on the 15 month CD from Ally.
I moved some cash sitting in my savings into this CD. Not much of an increase but at least it won’t go down if interest rates decrease even more on savings.
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Old 11-19-2020, 03:44 PM   #862
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Just tough for me to think about locking up money for any period of time when it does not even net you a point.

My guess is that within a year we could have somewhat better choices but your results may vary.
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Old 11-20-2020, 03:55 AM   #863
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Thanks for the information on the 15 month CD from Ally.
I moved some cash sitting in my savings into this CD. Not much of an increase but at least it won’t go down if interest rates decrease even more on savings.
It is available through February, so instead of locking in right now, I believe it may be more prudent to stay in the savings or 11-month no-penalty CD currently at 0.6% until then.

Since you've already done it, this doesn't apply to you, but others who are considering it might want to hold off. Rates could go higher over the next two months.

If you or others are looking for higher rates now, depositaccounts is showing andigo.org having high yield CDs - 20-month for 1.00% with $250 minimum, jumbo 20-month for 1.10% with $100,000 minimum, and super-jumbo 20-month for 1.2% with $250,000 minimum.

https://www.andigo.org/Bank/Savings#rates

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Andigo Credit Union is open to: (1) anyone through making a $15 donation to ConnectVETS; (2) those who live or work in the greater Chicago area; (3) employees of Americaneagle.com, Google, Andigo, Nokia Networks, Motorola Mobility, Motorola Solutions, NewNet Communication Technologies, Academy of General Dentristy, ARRIS, Cambium Networks, Brook Electrical Supply, Ceannate Corp, Continental, GO2 Partners, Direct Selling Association (DSA), Heartland Alliance, Jameson Sotheby’s International Realty, Jim Beam, KinderCare, LPL Financial, Nidec-Shimpo America, Property Specialists, Inc., Royal Power Solutions, SAC Wireless, Smalley Steel Ring, Twisted Pair Solutions, Velocity, or Zebra Technologies Corporation
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Old 11-20-2020, 04:04 AM   #864
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Just tough for me to think about locking up money for any period of time when it does not even net you a point.

My guess is that within a year we could have somewhat better choices but your results may vary.
Agreed. This is the time to stay short-term if locking up money. The current environment is a boon to corporations and anyone looking to refinance long-term debt. For those lending money, you could very easily shoot yourself in the foot should rates move higher.
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Old 11-20-2020, 08:41 AM   #865
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Agreed, but the nice thing is that even if you are long with a 180 day EWP then at these low rates it doesn't take much of a rate increase to make it worthwhile to break the CD and absorb the EWP.
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Old 11-20-2020, 09:19 AM   #866
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Ally sub 2 year CDs have only a 90 day penalty. I hope that’s still true.

Wait - it’s only 60 days interest penalty for up to 24 months.
https://www.ally.com/bank/high-yield-cd/
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Old 11-20-2020, 11:14 AM   #867
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I've switched to buying the Ally 5 yr CD at 1%, because even with the penalty of 5 months interest (tiny), after 17 months it earns more than all the others.

https://www.depositaccounts.com/tool....aspx?ids=5207

17 Months 0.71%
24 Months 0.79%
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Old 11-20-2020, 11:34 AM   #868
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My MM is still at .76. Have to watch these things closely.
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Old 11-20-2020, 11:49 AM   #869
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^^^ Where is it .76% ?
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Old 11-20-2020, 01:16 PM   #870
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I have some 1.35% CDs maturing in May 2021 and some 2.25% CDs maturing in August 2021. I hope that rates get better before it comes time to roll them over.
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Old 11-20-2020, 02:52 PM   #871
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^^^ Where is it .76% ?
CFG bank.
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Old 11-20-2020, 03:10 PM   #872
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Agreed, but the nice thing is that even if you are long with a 180 day EWP then at these low rates it doesn't take much of a rate increase to make it worthwhile to break the CD and absorb the EWP.
The above, which I find very logical, is also one of the best and saddest ways to describe how bad these rates are. The realization that giving up 6 months of interest may not be a big deal is rather amazing.
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Old 11-27-2020, 07:58 PM   #873
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I have a $10,000 CD renewing on Nov 30 (Monday). Called around to banks and credit unions today. I can roll it over at the same bank for 15 months @ .91%. The second best rate I could find was for a 60 month at a little over 1%. We decided to keep it at the 15 month rate. We currently have a couple CDs for 60 months, but didn't want to tie up more money for that length. In reality, at that point we will have been all the way through this new presidential term. A lot could happen.....good, bad, or somewhere in between. Didn't want to chance it.
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Old 11-27-2020, 09:01 PM   #874
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That's a pretty good rate for 15 months.
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Old 11-27-2020, 10:36 PM   #875
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And an opportunity to say thanks again to pb4uski for the wisdom of opening multiple add-on CDs for a modest ($50) amount when the chance arises. That 1.34% at NavyFCU looked pretty sad when we opened them, but we may add to them as they look much better now that rates continued down. And had they gone up we had just a tiny amount at risk.
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Old 11-27-2020, 10:57 PM   #876
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Thanks, but I wish that I had learned that trick about 6 months earlier when GTE was offering their 3.0% 5-year add-on CD like some others on the forum did.
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Old 11-28-2020, 08:46 AM   #877
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Thanks, but I wish that I had learned that trick about 6 months earlier when GTE was offering their 3.0% 5-year add-on CD like some others on the forum did.
That one I'm in on, but have to admit I'm really glad it is insured, given the way people flooded them on their add-on account. Though the insurance is through the NCUA rather than the FDIC. Just was looking last night and discover that a single owner is insured up to $250k, but a single owner with two beneficiaries and $750K is only insured to $500k, unlike the same person in an FDIC insured account. Not that it makes any difference to me, but a surprise.

https://www.mycreditunion.gov/insurance-estimator
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Old 11-28-2020, 01:21 PM   #878
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And an opportunity to say thanks again to pb4uski for the wisdom of opening multiple add-on CDs for a modest ($50) amount when the chance arises. That 1.34% at NavyFCU looked pretty sad when we opened them, but we may add to them as they look much better now that rates continued down. And had they gone up we had just a tiny amount at risk.
Just understand they can probably change the add-on feature unilaterally. Like when rates drop .
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Old 11-28-2020, 02:09 PM   #879
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No, they cannot... that's the whole point and why you don't see them very often.

I think GTE Financial's at 3% for 5-years was a mistake on their part as they tried to backtrack on it soon after the offered it and realized what they had done... but some depositors challenged them and threatened to raise a stink with regulators and they acquiesced.

The NCUA limit is the only thing keeping many of us from loading it up any more than we have since the credit risk comes into play for any deposits over the NCUA limit.
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Old 11-28-2020, 04:18 PM   #880
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No, they cannot... that's the whole point and why you don't see them very often.

I think GTE Financial's at 3% for 5-years was a mistake on their part as they tried to backtrack on it soon after the offered it and realized what they had done... but some depositors challenged them and threatened to raise a stink with regulators and they acquiesced.

The NCUA limit is the only thing keeping many of us from loading it up any more than we have since the credit risk comes into play for any deposits over the NCUA limit.
Oh, yes, they can change them. I know, it happened to me. It was buried the fine print. I expect this is typical.

It does not mean they would change it casually.
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