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Old 12-29-2023, 12:09 PM   #2241
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Brokered CDs are indeed slim at Fidelity. It was even worse yesterday!

I'm seeing better deals from online banks. Many still offering 5.25%+
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Old 12-29-2023, 12:13 PM   #2242
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I bought the Ally 12 month 5.25% CD yesterday. I’m actually exceeding the $250K FDIC limit for about a month until another Ally CD expires.

I’d hate to have to open up accounts with other banks just to get in on good CD rates. But it may come to that. Brokered CD’s are so much easier.
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Old 12-29-2023, 12:45 PM   #2243
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Originally Posted by MuirWannabe View Post
I bought the Ally 12 month 5.25% CD yesterday. I’m actually exceeding the $250K FDIC limit for about a month until another Ally CD expires.

I’d hate to have to open up accounts with other banks just to get in on good CD rates. But it may come to that. Brokered CD’s are so much easier.
One nice thing about Ally Bank CDs is their early withdrawal penalty for 24 month or less is only 60 days interest. That’s quite generous!

We have joint account limits of $500K.

I bought a couple 15 month 5.50% CDs at Synchrony Bank last week.

In terms of brokered CDs versus direct bank. I’ve seen periods where direct purchase beats brokered CDs offered, and it’s been that way again for a few weeks.

The online banks and FCUs do tend to offer more hot deals near the end of the year, so that may be part of it.
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Old 12-29-2023, 12:52 PM   #2244
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Snaxx still paying 5.42% for dry powder.

I also just purchased a A++ rated MYGA for 7 years at 5.55%. MYGAs seem to be the way to go at the moment.
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Old 12-29-2023, 01:00 PM   #2245
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I bought the Ally 12 month 5.25% CD yesterday. Iím actually exceeding the $250K FDIC limit for about a month until another Ally CD expires.
Just in case you don't know, you can have a POD (pay on death) beneficiary which would add another $250K to FDIC limit.
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Old 12-29-2023, 01:46 PM   #2246
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Snaxx still paying 5.42% for dry powder.

I also just purchased a A++ rated MYGA for 7 years at 5.55%. MYGAs seem to be the way to go at the moment.
I agree with you re MYGAs right now, esp since you can lock rates for 30-60 days and even cancel during the free look period. I had planned to buy 5 yr A rated 5.75 but found a 10 yr bond over 6%. That bond has dropped significantly since I bought but the MYGA rate is still available.
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Old 12-29-2023, 03:32 PM   #2247
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One nice thing about Ally Bank CDs is their early withdrawal penalty for 24 month or less is only 60 days interest. Thatís quite generous!

We have joint account limits of $500K.

I bought a couple 15 month 5.50% CDs at Synchrony Bank last week.

In terms of brokered CDs versus direct bank. Iíve seen periods where direct purchase beats brokered CDs offered, and itís been that way again for a few weeks.

The online banks and FCUs do tend to offer more hot deals near the end of the year, so that may be part of it.
Just finished the year with a Synchrony and a couple of Marcus CD's at 5.50 percent. With Marcus, you can only transfer from one bank account into a CD, which is a minor annoyance. Thinking rates will drop, but hoping to be pleasantly surprised.
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Old 12-29-2023, 05:42 PM   #2248
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Originally Posted by audreyh1 View Post
One nice thing about Ally Bank CDs is their early withdrawal penalty for 24 month or less is only 60 days interest. Thatís quite generous!

We have joint account limits of $500K.

I bought a couple 15 month 5.50% CDs at Synchrony Bank last week.

In terms of brokered CDs versus direct bank. Iíve seen periods where direct purchase beats brokered CDs offered, and itís been that way again for a few weeks.

The online banks and FCUs do tend to offer more hot deals near the end of the year, so that may be part of it.
We have a joint account so maybe our limit is $500K as well. Iíll research this as I may want to buy more of that Ally 12 month if it stays at 5.25% for a bit. Thank you.
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Old 12-29-2023, 05:50 PM   #2249
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Yes, if you are both named on the accounts including on the CDs then combined you have $500K FDIC protection. When I open a CD I’m sure to add DH as joint. If any of this is missed you can call or chat and get the titling fixed.

Ally offers 5.25% in 8 month, 12 month, and 14 month options at the moment, FWIW.
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Old 12-30-2023, 09:00 AM   #2250
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Purchased 12 mth CD with 5.25% APR from Wings Financial CU this morning. Betting that rates will drop in January. I'll kick the dog if they go up.
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Old 12-30-2023, 09:51 AM   #2251
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Just opened a Synchrony Bank 18 month 5.25% CD.
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Old 12-30-2023, 09:54 AM   #2252
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Just opened a Synchrony Bank 18 month 5.25% CD.
Synchrony bank has a 5.5% 15 month CD available.

https://www.synchronybank.com/bankin...ISCode=0000000
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Old 12-30-2023, 10:20 AM   #2253
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Synchrony bank has a 5.5% 15 month CD available.
Several banks have promotional rates on one or more CD's. Depositaccounts.com can be helpful in searching for rates. Most banks have a list of all CD rates. Some will promote them on their landing page. Best to look at all the CD rates for a bank before choosing.
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Old 12-30-2023, 10:31 AM   #2254
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The special promotional CD rates aren't usually shown on Ally or Synchrony CD pages, so you have to go looking for them. For Ally I had to open the CDs from a promotional page. For Synchrony I think it showed up in the drop down list.

Yes, Bankrate.com and Depositaccounts.com sites are good places to check. They also come up on basic Google searches.
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Old 12-30-2023, 10:32 AM   #2255
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Depositaccounts is good. It seems that direct CDs pay better now that brokered products have made most of their products callable.
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Old 12-30-2023, 10:42 AM   #2256
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Brokered CDs offerings are quite slim at the moment and even the callable ones are below what online banks are offering.
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Old 12-30-2023, 11:43 AM   #2257
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The special promotional CD rates aren't usually shown on Ally or Synchrony CD pages, so you have to go looking for them. For Ally I had to open the CDs from a promotional page. For Synchrony I think it showed up in the drop down list.

Yes, Bankrate.com and Depositaccounts.com sites are good places to check. They also come up on basic Google searches.
I don't think I have ever found anything useful at Bankrate. Basically just advertising. I generally start with depositaccounts.com, which is independent of advertising, although it does promote some products. The guy that started it still runs the site, and it's comprehensive and accurate.

Happy that people post their discoveries here, though. Sometimes I forget to look or just plain miss something.
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Old 12-30-2023, 12:08 PM   #2258
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I was using some bankrate calculators recently, but yes I usually look at depositaccounts. My banks are pretty good at emailing me their special offers.
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Old 12-30-2023, 01:35 PM   #2259
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minor quibble - they've paying 3.25% interest. The APY is 3.3%. Ally likes to list the APY's for all their rates.
Geez. I know rates are dropping, but saw Gumby had posted the new year for this thread and started reading...

What a difference a year makes.... January 2023 alert
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