Best CD, MM Rates & Bank Special Deals Thread 2022 - Please post updates here

[jazz4cash]

Best CD, MM Rates & Bank Special Deals Thread 2022 - Please post updates here

An add-on CD is a spectacular deal. After a year the NFCU deal becomes 3.3% for 21 months. After 2 years it's 3.3% for 11 months. You're getting a long dated call option on that rate. I wish the term was longer, and of course a higher rate I would not hate! I had just about 1K laying around in a share account earning 0.25%

Edit: that should be 3.3% for 9 months after 2 years.

 

[mpeirce]

With interest rates going up I was checking the rates on Capital One where we keep some of our cash, and their rates on the money market account looked kind of low.

After checking a bit, it turns out there is a “new” account, the 360 Performance Savings which now has the best rate. It used to the their money market account did, but not now.

Just wanted to post here in case only one hasn’t been paying close attention and has money in the Cap1 MM account at 0.8% rather than the better PS account at $1.3%. It’s time to move some money around.

 

[COcheesehead]

I am getting 1.9% on my money market at Fidelity.

 

[Montecfo]

With interest rates going up I was checking the rates on Capital One where we keep some of our cash, and their rates on the money market account looked kind of low.

After checking a bit, it turns out there is a “new” account, the 360 Performance Savings which now has the best rate. It used to the their money market account did, but not now.

Just wanted to post here in case only one hasn’t been paying close attention and has money in the Cap1 MM account at 0.8% rather than the better PS account at $1.3%. It’s time to move some money around.

I have the performance savings but took money out long ago. I am thinking of closing out the small balances there. Has not been competitive for quite a while.

 

[Montecfo]

CFG Bank latest hike on MM account is to 2.10% yesterday.

That's leading the pack on nationally available accounts.

CDs pretty competitive also ( but I no longer have any there.)

 

[nwsteve]

Found a brokered CD for Feb,2023 on fidelity at 2.7 this morning. no CALL

 

[mpeirce]

I know Capital One isn’t the best rate at the moment, but it’s handy to have some money be in a “bank” rather than in a brokerage (yes, Vanguard has 1.92% SEC yield today for their Federal Money Market Fund where most of my cash is).

I stopped chasing the top rate bank account a long time ago - though if it lags significantly for a while it’s probably worth changing.

Regardless, I just wanted people to be aware of the account differences at Capital One since Capital One is a pretty commonly used bank.

 

[Henry Lili]

Navy FCU - 33 month CD available starting today with 3.3% APY. $100k max. You can open it with $1k and additions up to the $100k maximum are allowed at any time. Look under "Certificate Special Offers"

CAR GUY - Looks like you're spot on -"I wouldn't be surprise to see 4% in the next ~30 days for 4 and 5 yr CD's."

I signed up for the Navy CD add on at $1k. Give me options if/when rates drop in the next months/years

 

[Henry Lili]

Back a few years ago I missed a 3.5% CD - it was there on a Friday and by the time i bought on Monday it was 3%. Irked me.

Bearing in mind GTE's add-on CD and how good it has made me feel I'm going to stick $1000 in the Navy add-on , just in case rates don't keep going up.

+1

 

[Earl E Retyre]

An add-on CD is a spectacular deal. After a year the NFCU deal becomes 3.3% for 21 months. After 2 years it's 3.3% for 11 months. You're getting a long dated call option on that rate. I wish the term was longer, and of course a higher rate I would not hate! I had just about 1K laying around in a share account earning 0.25%

Edit: that should be 3.3% for 9 months after 2 years.

I decided to also put $1k in the NFCU add-on ... if rates drop in the future then this is a good back up plan.

Thanks all for sharing the info.

 

[jazz4cash]

My IRA MM account is up to 2.38. They generally set the rate at .5% above the 13 wk T bill but sometimes they delay before posting the new rate. Besides that I hesitate to recommend as they are a small community bank. I generally have to get in touch with a particular banker to get anything done. In 2021 they sent me a 1099R by mistake and it was a nightmare. Harbor Bank Maryland. The non-IRA MM is a joke.

 

[Drake3287]

Just got 2.75% on a 12 month CD from Summit State Bank here in the Bay Area. My $100k CD had renewed at 2% last week and I had until Thursday's grace period to change things but I simply let it renew.

Two days later on Saturday I noticed an ad in the morning paper advertising a 2.75% rate at the same bank. Called first thing Monday morning and asked about extending the rate to me still and they were happy to do it. Easiest $810. I've ever made!

 

[Habitater]

Save Better?

Is anyone familiar with Save Better? https://www.savebetter.com/

They currently have a Sallie May No Penalty CD at 2.5%. Seems legit, and FDIC insured through Sallie Mae.

Anyone have experience or thoughts? Thanks in advance.

 

[tulak]

Yesterday the Vanguard Federal Money Market Fund VMFXX (settlement fund) 7 day SEC yield increased to 1.84%, IIRC it was 1.60% on Thursday.

And now at 2% as of 8/2.

 

[aja8888]

Using some uninvested cash in my IRA today:

Settle Date: 08/16/2022
Action: Bought
Quantity: 10,000
Symbol: JP MORGAN CHASE & 3.1% CD FDIC INS DUE 08/16/23 US
Unit Price: $100.00

Note 3.1% on a one year CD (new issue).

 

[almost there]

"The market thinks" I have a feeling the "market" is going to get it wrong.....
I look for rates to climb well into 2023.

 

[Another Reader]

Using some uninvested cash in my IRA today:

Settle Date: 08/16/2022
Action: Bought
Quantity: 10,000
Symbol: JP MORGAN CHASE & 3.1% CD FDIC INS DUE 08/16/23 US
Unit Price: $100.00

Note 3.1% on a one year CD (new issue).

Did you buy all of them? None left...

 

[COcheesehead]

Fidelity money market FZDXX 2.08%

 

[aja8888]

Did you buy all of them? None left...

Darn, maybe I got lucky? This stuff does move fast though.

 

[tulak]

Fidelity money market FZDXX 2.08%

Where do you see this?

I’m seeing 1.99% on 8/2 on the Fidelity website: https://fundresearch.fidelity.com/mutual-funds/performance-and-risk/31617H805

 

[DawgMan]

So here is something I just don't get. I am a Schwab guy and prefer to keep my dollars under one roof if nothing else to just keep things simple. Part of my plan has me holding about mid 6 figures in cash equivalents. About a year ago I opened up a Marcus HYSA (towards the top of competitors at the time for both HYSAs and MMKT accts) to get some yield on those funds since Schwab had nothing to compete with Marcus. Fast forward to today, now Schwab's SWVXX (MMKT) is yielding 1.99% and Marcus is at 1.50%? Looking at the recent history, SWVXX did not start showing any real equivalent yield until end of June. Can someone explain to me why these HYSAs and MMKTs do not move more in tandem, especially in a rising interest rate environment? So now, I'm inclined to move my cash back to SWVXX and perhaps keep a small amount in Marcus to keep that account open in the event I need to switch back. I hate to micromanage chasing yield, but a .50% pop on $600K might buy an extra steak dinner from time to time. How anal do you all get in chasing yield on cash?

 

[mpeirce]

And now at 2% as of 8/2.

2.08% this morning. Tracking up!

 

[COcheesehead]

Where do you see this?

I’m seeing 1.99% on 8/2 on the Fidelity website: https://fundresearch.fidelity.com/mutual-funds/performance-and-risk/31617H805

The research pages are behind. I have the fund and it reports the yield daily. As of this morning it says 2.08%.

Edit, if you click on your link, it also says 2.08%.

 

[John Galt III]

Penfed 5 year CD is now 3.2 %. 7 year CD also 3.2 %. Not high enough! cmon 4 % !

 

[DuluthGA]

The research pages are behind. I have the fund and it reports the yield daily. As of this morning it says 2.08%.

Edit, if you click on your link, it also says 2.08%.

Is there a fidelity fund MM earning similar open to new investors with $25k to invest? This one says $100k min and the other mentioned is closed to new investors.