Best CD, MM Rates & Bank Special Deals Thread 2020 - Please post updates here

[jazz4cash]

I just had a one year Ally renew at 2% + 05% bonus, but the one year is now 1.75%. I have another one coming due in about a month - so I hope there's something better available by then, maybe the 13 month or no-penalty.

Can someone remind me please of the Ally bonus details? I'm actually falling out of Ally lately but maybe the bonus would help keep me onboard. I have moved everything out of there as it matures because I always find better places to lockup CD money. I have the minimum in the savings right now and the no-penalty CD looks OK.

 

[CardsFan]

Just locked in the NFCU 17 month 2.25% add on cd (not ira) with a CC. I will transfer the balance next week.

Thanks to all here that have recommended them. Wish I got on the bandwagon earlier.

Even the regular CD rates are around 2%.

And, I can't say enough about the customer service via telephone.

I am sure this forum has saved/made me 10's of thousands of dollars with simple things like this.

Thanks all.

 

[GenXguy]

Can someone remind me please of the Ally bonus details? I'm actually falling out of Ally lately but maybe the bonus would help keep me onboard. I have moved everything out of there as it matures because I always find better places to lockup CD money. I have the minimum in the savings right now and the no-penalty CD looks OK.

Three of one of my one year high yield CDs recently renewed at 2.05% due to the .05% bonus.

They had emailed me in advance:

GenXguy, you recently received a maturity notice with details about your maturing CD. Did you know you'll get an extra 0.05% added to your new interest rate when your CD renews? It's our way of thanking you for banking with us.

What do you need to do to get the loyalty reward?

Nothing — it's automatically added when your CD renews. Want to change terms? No problem. Your loyalty reward will be added to any CD you choose.

To change terms or add funds, you will need to manage your CD account on your desktop computer or through the Ally Mobile app.

 

[jazz4cash]

Thanks GenX, I think I pulled me last CD funds out early.

 

[copyright1997reloaded]

We have far more money in our trust savings account (single inheritor) than I am comfortable with, exceeding the $500k insured limit. DW worked in banking for 40 years and has zero fears about the financial institution in question, but she understands if I want to move out some of the funds.

I would never keep a balance substantially over the FDIC/NCUA limit. There is no real benefit for doing so (other than a bit of convenience).

 

[Bruno]

I noticed my CIT available balance still less the $300 BONUS money after the 90 days. I called and CIT Bank 90 days are really more like 114 days. CIT has several things that extend the 90 days you need to keep your money in CIT Bank. Once you open the account you have 15 days to fund it. The clock does not START until these 15 days have passed. Then you have the actual 90 days. Then CIT has another 7 days to review it before you can get your BONUS on the 8 day. I still Like CIT Bank just hate all the small print.

 

[harley]

I noticed my CIT available balance still less the $300 BONUS money after the 90 days. I called and CIT Bank 90 days are really more like 114 days. CIT has several things that extend the 90 days you need to keep your money in CIT Bank. Once you open the account you have 15 days to fund it. The clock does not START until these 15 days have passed. Then you have the actual 90 days. Then CIT has another 7 days to review it before you can get your BONUS on the 8 day. I still Like CIT Bank just hate all the small print.

I'm going in today to start my 5th/3rd account. I am planning to fund it as required for the bonus, plus some additional. I'll keep it open and use it for automatic payments on our new mortgage. So it won't really matter if they skim a few days as per your example. I'll only shut it down if I find another good bonus deal in the future.

 

[gcgang]

I had been rolling TBills in my taxable account due to the high state income tax here. With rates collapsing to under 0.50%, I guess I’m going back to the banks.

 

[aza455]

I had been rolling TBills in my taxable account due to the high state income tax here. With rates collapsing to under 0.50%, I guess I’m going back to the banks.

You can run but you can’t hide. Bank rates will follow Treasuries...

 

[gcgang]

You can run but you can’t hide. Bank rates will follow Treasuries...

lol. For rates this low, it’s hardly worth bothering with.

 

[pb4uski]

I'm starting to feel like a freaking genius for loading up on those 3.5% and 3.0% CDs last summer.... while it is true that I haven't received the runup that bond funds have, the 3.0%-3.5% return for the next 4 1/2 years seems pretty juicy right now!

 

[jazz4cash]

I'm starting to feel like a freaking genius for loading up on those 3.5% and 3.0% CDs last summer.... while it is true that I haven't received the runup that bond funds have, the 3.0%-3.5% return for the next 4 1/2 years seems pretty juicy right now!

I know how you feel. The only way to benefit from the bond fund run up is to sell. Then you lose the divvy and need to find a new home for the funds. That’s OK for drawdown mode but If you’re not ready to spend I prefer the CDs.

 

[CardsFan]

I'm starting to feel like a freaking genius for loading up on those 3.5% and 3.0% CDs last summer.... while it is true that I haven't received the runup that bond funds have, the 3.0%-3.5% return for the next 4 1/2 years seems pretty juicy right now!

I only wish I had followed your lead back then, but I did not think I would qualify for membership at NFCU (Dad served in WWII, but I have zero paperwork).

Finally applied last month, and managed to lock in a 3% 37 month IRA CD, and just locked in a 2.3% 17 month Share CD. Should have both of these fully funded over the next few weeks.

On a side note, does anyone know if the regular CD's offered by NFCU are add-on, like these specials? They still are offering 2% CD's, which looks pretty good right now, and I have some other CD's maturing over the next few months. If they are add-on, it might make sense to fund one now with seed money for the future additions.

 

[pb4uski]

Similiar situation here.. Dad served but after WWII.. but they accepted my enrollment and thankfully never asked for documentation... I think there might be some somewhere but it would be a scavenger hunt of my Dad's old desk and files.

 

[Dtail]

I'm starting to feel like a freaking genius for loading up on those 3.5% and 3.0% CDs last summer.... while it is true that I haven't received the runup that bond funds have, the 3.0%-3.5% return for the next 4 1/2 years seems pretty juicy right now!

I got the GTE 3.05/3.30% 5 yr CD's and will put more into it this week with my maturing Ally CD.
Also bought the Fidelity TSY bond fund on 02/19 for 5.5% of our portfolio, so getting a little extra juice there too.
Still lots of losses overall. Will continue to stay the course and will never consider working again.

 

[Dave J]

On a side note, does anyone know if the regular CD's offered by NFCU are add-on, like these specials? They still are offering 2% CD's, which looks pretty good right now, and I have some other CD's maturing over the next few months. If they are add-on, it might make sense to fund one now with seed money for the future additions.

Unless it says add-on, I don't think they are. That said, sometimes in the IRA season,( Dec 15-April15) they allow you to add new money to existing IRA CD's. This is year to year and not guarenteed(per CSR about 2 1/2 week ago). I was able to add to a 3.2% CD, so I was happy(It was not an add-on CD). My 3.75% was already full up to add on limit.(This was on a Roth Conversion)

 

[calmloki]

I just called Navy this morning and neither our non-IRA 3.5% CDs from 8/19 nor the 3% from 6/19 are Add-on. Bummer, as they are all small CDs so if we needed to fund something we would break a minimum amount. Going to have to stick money in the GTE 3% we've been holding in the back pocket. The 3% is now looking pretty good.

 

[Momcpa]

Just bought a 2.41% 60 month and a 2.01% 23 month CD this morning at a local bank. Not big, as I have my "CD monies" pretty much already locked up and committed. But something is better than nothing. And I'm filling in some of the blank spots on my CD ladder that I started a year or so ago.

 

[pb4uski]

I just called Navy this morning and neither our non-IRA 3.5% CDs from 8/19 nor the 3% from 6/19 are Add-on. Bummer, as they are all small CDs so if we needed to fund something we would break a minimum amount. Going to have to stick money in the GTE 3% we've been holding in the back pocket. The 3% is now looking pretty good.

I left them a secure message asking the same thing but I suspect that the answer is no because I bought mine the same time as you and I have a faint recollection of calling and asking back a few months ago when I was adding some money to my GTE Financial 3% IRA CD.

 

[njhowie]

Current yields:
Fidelity SPAXX = 1.03%
Fidelity FNFXX = 1.00%
Fidelity FZFXX = 1.00%
Fidelity FDRXX = 1.08%

All will be sub-1.0% by month end.

 

[Dtail]

Current yields:
Fidelity SPAXX = 1.03%
Fidelity FNFXX = 1.00%
Fidelity FZFXX = 1.00%
Fidelity FDRXX = 1.08%

All will be sub-1.0% by month end.

Still have their premium MM fund FZDXX at 1.42%.

 

[audreyh1]

Still have their premium MM fund FZDXX at 1.42%.

No, it’s not yielding that. It’s down to 1.33% as of yesterday. These are all dropping fast.

Here is a useful Fidelity link to see all current yields https://fundresearch.fidelity.com/mutual-funds/fidelity-funds-daily-pricing-yields

 

[Dtail]

Looked it up on the internet, but it appears to be at 1.33% on Fidelity.

 

[fosterscik]

vmmxx now 1.53% - probably dropping soon

 

[pb4uski]

Discover Bank dropped to 1.6% when I looked at it yesterday.