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Old 11-29-2023, 02:46 PM   #2141
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Yes and yes. The scale is different for preferreds because they are lower in the credit stack... they are generally 2 notches lower than debt. Athene's Senior Notes are rated A- by S&P... 2 notches lower would be BBB.

I personally think that 2 notches is a bit too much, but that is typical.

https://irathene.q4cdn.com/886888837...Supplement.pdf

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Old 11-29-2023, 03:30 PM   #2142
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Originally Posted by jazz4cash View Post
...If you really wish to get current rates for another few years all you have to do is extend maturities. ... Ladder, ladder, ladder.
+1 A few weeks ago I helped a friend buy a 10-rung, 5-year CD ladder that yields 5.4% using money that was in SWVXX earning 5.25%.
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Old 11-29-2023, 06:32 PM   #2143
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Thanks, pb. Very helpful.
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Old 11-29-2023, 09:39 PM   #2144
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I think it takes things like the 2008 financial crisis, deflation (which we intermittently experienced for brief periods afterwards) or a global pandemic to create emergency reactions like dropping rates to zero. Before 2008 dropping rates meant dropping the Fed Funds rate to 3%.
Agree and most of here won't be alive when if ever it returns to those near zero levels again. Unfortunately to many people now almost expect it to be the new norm.
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Old 11-29-2023, 10:34 PM   #2145
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Agree and most of here won't be alive when if ever it returns to those near zero levels again. Unfortunately to many people now almost expect it to be the new norm.
Well I tell you, the huge asset price run up in the face of those near 0% rates has reversed very little, so I suspect people are expecting rates to go much lower again.
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Old 12-01-2023, 06:10 PM   #2146
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FYI

Ally is offering a short term 8 month CD at 5.25%.
It is NOT the no penalty CD.
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7.50 APY with PenFed up to $750 Savings Bonus offer
Old 12-01-2023, 08:51 PM   #2147
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7.50 APY with PenFed up to $750 Savings Bonus offer

I just got an interesting offer in the mail from PenFed. They are offering a savings bonus of up to $750. Must make deposits on or before 12/30/23 into their Premium Savings account. Balance must be maintained from 12/30/23 to 4/30/24. You will receive a bonus of $150 for every $10,000 deposited (up to $50,000) at the end of the period.

Funds need to be in the account for four months, account earns a base rate of 3.0%. With the bonus this works out to be 7.50% APY. Thatís better than current basic savings account rates or any short term CD and worth considering if you have lots of spare funds in cash currently and won't be needing it in the near furture. Your funds are totally liquid but you must keep the funds in the account until 4/30/24 to receive the bonus.

https://www.penfed.org/psvoffer2
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Old 12-01-2023, 09:44 PM   #2148
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Originally Posted by Tracer View Post
I just got an interesting offer in the mail from PenFed. They are offering a savings bonus of up to $750. Must make deposits on or before 12/30/23 into their Premium Savings account. Balance must be maintained from 12/30/23 to 4/30/24. You will receive a bonus of $150 for every $10,000 deposited (up to $50,000) at the end of the period.

Funds need to be in the account for four months, account earns a base rate of 3.0%. With the bonus this works out to be 7.50% APY. Thatís better than current basic savings account rates or any short term CD and worth considering if you have lots of spare funds in cash currently and won't be needing it in the near furture. Your funds are totally liquid but you must keep the funds in the account until 4/30/24 to receive the bonus.

https://www.penfed.org/psvoffer2

Sounds good. But your existing balance in your account, plus the new funds must remain for the whole period to get the bonus. At least that's the way I read it.
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Old 12-01-2023, 10:52 PM   #2149
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Sounds good. But your existing balance in your account, plus the new funds must remain for the whole period to get the bonus. At least that's the way I read it.
The incoming transfer must also go directly to the online savings account. It specifically says it can't come from another PF account. It seems like you'd have to set up direct access from an outside account to this savings account, rather than transferring in to checking and then within PF transferring to savings.
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Old 12-02-2023, 04:47 AM   #2150
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Originally Posted by Tracer View Post
I just got an interesting offer in the mail from PenFed. They are offering a savings bonus of up to $750. Must make deposits on or before 12/30/23 into their Premium Savings account. Balance must be maintained from 12/30/23 to 4/30/24. You will receive a bonus of $150 for every $10,000 deposited (up to $50,000) at the end of the period.

Funds need to be in the account for four months, account earns a base rate of 3.0%. With the bonus this works out to be 7.50% APY. Thatís better than current basic savings account rates or any short term CD and worth considering if you have lots of spare funds in cash currently and won't be needing it in the near furture. Your funds are totally liquid but you must keep the funds in the account until 4/30/24 to receive the bonus.

https://www.penfed.org/psvoffer2
Quote:
Originally Posted by aja8888 View Post
Sounds good. But your existing balance in your account, plus the new funds must remain for the whole period to get the bonus. At least that's the way I read it.
Not only that, but in the fine print it states that it can take up to 60 days to receive the bonus and I believe then to be in good standing the account effectively must stay open for 6 months.
Thus the APY would really be 6%, which is still a nice 6 month return with no risk.
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Old 12-02-2023, 08:44 AM   #2151
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Sounds good. But your existing balance in your account, plus the new funds must remain for the whole period to get the bonus. At least that's the way I read it.
While I have a small CD and a credit card at PenFed, my existing balance in the savings account with this promotion is currently 1 cent. I'll gladly keep that penny in the account to get the bonus. It's kind of a moot point for someone opening this account for the first time to take advantage of the deal.

I'm thinking about dropping $20,000 in there that is currently earning about 5%. Raising that yield by 50% to 7.50% with zero risk, though only for a four month period, seems like a no brainer.

Quote:
Originally Posted by Dtail
Not only that, but in the fine print it states that it can take up to 60 days to receive the bonus and I believe then to be in good standing the account effectively must stay open for 6 months.
Thus the APY would really be 6%, which is still a nice 6 month return with no risk.
I saw that, but nowhere does it state the entire amount has to stay in the account until the bonus is paid. You could withdraw the amount after 4 months and leave $1.00 in the account. They will simply add your bonus to your $1 balance.
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Old 12-02-2023, 11:44 AM   #2152
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While I have a small CD and a credit card at PenFed, my existing balance in the savings account with this promotion is currently 1 cent. I'll gladly keep that penny in the account to get the bonus. It's kind of a moot point for someone opening this account for the first time to take advantage of the deal.

I'm thinking about dropping $20,000 in there that is currently earning about 5%. Raising that yield by 50% to 7.50% with zero risk, though only for a four month period, seems like a no brainer.



I saw that, but nowhere does it state the entire amount has to stay in the account until the bonus is paid. You could withdraw the amount after 4 months and leave $1.00 in the account. They will simply add your bonus to your $1 balance.
Good point. I am assuming there are no minimum balances.
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Old 12-02-2023, 01:32 PM   #2153
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Good point. I am assuming there are no minimum balances.
I believe PenFed requires at least $5 to open an account but no minimum to maintain an account. I've had a 1 cent balance in the Premium Savings account for the longest time.
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Old 12-02-2023, 01:49 PM   #2154
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Regarding the PenFed bonus, it seems like a big eh to me. If I deposit $10k in PF, I’ll end up with $450 more in 1 year. By comparison, if I deposit the same amount in Discover Savings, I’ll have $435 in 1 year.
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Old 12-02-2023, 09:28 PM   #2155
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Regarding the PenFed bonus, it seems like a big eh to me. If I deposit $10k in PF, Iíll end up with $450 more in 1 year. By comparison, if I deposit the same amount in Discover Savings, Iíll have $435 in 1 year.
That's if you leave your funds in PF after the bonus period ends when all you'll be yielding is 3%. Why would you do that if a couple of minutes and few clicks on your computer could move it to somewhere else that has a better return. Right now it's easy to find yields of 5% or better.
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Old 12-03-2023, 04:57 AM   #2156
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Northeast Bank is offering 5.3% yield for up to 15 months on a CD right now. $5k minimum. Regional bank out of Maine.
https://www.northeastbank.com/
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Old 12-03-2023, 10:20 AM   #2157
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I just got an interesting offer in the mail from PenFed. They are offering a savings bonus of up to $750. Must make deposits on or before 12/30/23 into their Premium Savings account. Balance must be maintained from 12/30/23 to 4/30/24. You will receive a bonus of $150 for every $10,000 deposited (up to $50,000) at the end of the period.

Funds need to be in the account for four months, account earns a base rate of 3.0%. With the bonus this works out to be 7.50% APY. Thatís better than current basic savings account rates or any short term CD and worth considering if you have lots of spare funds in cash currently and won't be needing it in the near furture. Your funds are totally liquid but you must keep the funds in the account until 4/30/24 to receive the bonus.

https://www.penfed.org/psvoffer2

I like doing these bonuses. I usually do a couple a year with money I won't need. Last year quite a few of us took advantage of the Ally $500 bonus. CapOne has a savings bonus that works out to 10.4% interest (over 105 days) that I posted about earlier and I think is still going on.
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Old 12-03-2023, 11:10 AM   #2158
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Here is a similar offer from CIBC Agility Saving of $500 bonus for holding $50k+ for 3 months on top of the current 5% interest:
https://us.cibc.com/en/agility/agility-savings.html
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Old 12-05-2023, 08:49 AM   #2159
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Current best non-callable brokered CD rates at Schwab (11/28/23):

12 mo - 5.20%
18 mo - 5.00%
24 mo - 4.85%
36 mo - 4.65%
48 mo - 4.55%
60 mo - 4.45%

In the past week rates on brokered non-callable CDs at Schwab have dropped 15-25 basis points. Buyers should look at longer callable maturities as substitutes for shorter maturities if the yield to call exceeds they yield for a comparable shorter-maturity non-callable. For example, this morning at Schwab this CD is available:

BankPlus MS 5.3% CD 12/14/2026 Callable
First call date: 12/13/2024
CUSIP 06647MAC1

You are guaranteed 5.3% for 12 months which is higher than the 5.2% you can get for the best 12 month non-callable CD. The "risk" isn't in getting called. It lies in being stuck with it for 3 years if rates resume their rise.
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Milli Bank 5.5% APY savings account
Old 12-08-2023, 01:34 PM   #2160
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Milli Bank 5.5% APY savings account

Milli Bank is the online division of First National Bank of Omaha (FDIC insured). They have a simple no fees, no-frills place to park your idle cash at an attractive rate of 5.50% APY. Highest in the country (I think). No bonuses, just a high rate with no minimum balance plus free unlimited transfers with linked accounts at other banks. They have a spending (checking) account also with a debit card that has free ATM withdrawals, but that account pays no interest. They are not offering CD's at this time. Their website is informational only.. No login. If you're comfortable doing all your transactions (transfers in and out of external banks) on a mobile app and you're looking for a simple, super high yield place for your idle cash with no fees or minimums and that's totally liquid, this sounds like a pretty good place for that.

https://milli.bank/
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