Best CD, MM Rates & Bank Special Deals Thread 2023 - Please post updates here

[lordjust]

The best deal today on Fidelity is the City National 5.1%/3 year non-callable. But with the SVB bank asset sale, treasury yields are ticking back up.

so we should wait for the 8% 5 year non-callable cd ?

 

[Car-Guy]

The best deal today on Fidelity is the City National 5.1%/3 year non-callable. But with the SVB bank asset sale, treasury yields are ticking back up.

I guess the big brokerage houses pretty much all have the same things since Schwab has that one too.

 

[Freedom56]

so we should wait for the 8% 5 year non-callable cd ?

We would need a time machine to take us back to 1990.

 

[PatrickA5]

Wells Fargo has an offer: move $25k in new money to their savings for 90 days and you will receive $525. Sounds great until you read the fine print. Their savings account pays 0.15%. So, if you are moving money from a HYSA to their savings, the deal isn't so lucrative.

The best one I've seen lately is CapOne savings. $1,000 bonus for $100,000 deposited - currently paying 3.4%. Newish customers only. Could probably eek out 6.5% or so if left in for the minimum time.

 

[Brook2]

Newbie to CD's and this thread. It seems like a lot of people here rush to buy CD's at certain times of day during the week, but I've found some of the same or better rates on the weekend. What's that about? To me it seems to go in waves, not in what time or what day, but more in clusters of several days together. Your experience?

 

[Car-Guy]

I've never really identified a specific time or day or the week for the best rates/buys. It varies but I usually only keep a close eye during business days. Weekends seem to be really dead to me.

 

[Slater]

So looking at locking in $53K into a vanguard cd.
Appears First Fed bank callable 9/23 @100 2 year term 5.25%
vs
Charles Shwab 5.05 2 year within VG also
if I search 18 months all cd listed are not callable,
If its callable, what are the chances that the rate apy will actually be adjusted / lowered?
Dont really care to deal with a lower rate.
Should I just go for the 18 months non callable & call it done?

 

[Car-Guy]

So looking at locking in $53K into a vanguard cd.
Appears First Fed bank callable 9/23 @100 2 year term
vs
Charles Shwab 5.05 2 year
if I search 18 months all cd listed are not callable,
If its callable, what are the chances that the rate apy will actually be adjusted / lowered?
Dont really care to deal with a lower rate.
Should I just go for the 18 months non callable & call it done?

Schwab has a non callable 18mo for 5.4% at this time. You might want to check it out. But you'll probably need to move quick.

 

[Freedom56]

Zion 5.4% 18 month, City National 5.1% 36 month, and 5%/60 month are available again at Fidelity.

 

[Slater]

I see Zion now, on hold with VG, hoping something can be done as funds still pending transfer...
I know, my drama...
hoping to get this done

 

[Freedom56]

Alternatively those who wan the "touchy feely" in branch experience can get a 4.35% APY 11 month CD at City National Bank.

https://www.cnb.com/personal-banking/accounts/certificates-of-deposit.html

 

[ShokWaveRider]

I skipped Zion. Did not like their rating. I am almost all in on my CDs now, we currently have 4 in our ladder + a MYGA, average return over 5.3% (Very happy with that!). We Still have $250k to go. I probably will go for a 9-month next month, so return is not recognized till 2024. DW still with the ACA.

 

[Free bird]

Rates are bouncing hard today.

 

[Free bird]

Zion back at VG. It’s a government bank up to $250k.

 

[Slater]

Im irritated...
Hands are tied, hopefully money will be available in the VG settlement fund by morning,,,,
& the Zion 5.4% cd will still be available...

 

[dmpi]

I skipped Zion. Did not like their rating. I am almost all in on my CDs now, we currently have 4 in our ladder + a MYGA, average return over 5.3% (Very happy with that!). We Still have $250k to go. I probably will go for a 9-month next month, so return is not recognized till 2024. DW still with the ACA.

5.3% overall is not that shabby. My overall rate got hurt because I bought some in January around the 4.6-4.7 area. I just bought a 9-month Cadance Bank at 5.35% which matures very close to the last day of the year because unlike you I need income this year rather than next year. Having to manage your income and taxes adds yet another constraint to this CD game.

 

[Dtail]

Alternatively those who wan the "touchy feely" in branch experience can get a 4.35% APY 11 month CD at City National Bank.

https://www.cnb.com/personal-banking/accounts/certificates-of-deposit.html

True. Not sure how many on this site feel that way, but who knows?
Will stick with my multiple 4.75% no penalty 11 month CDs at Ally, effectively used as a MM substitute.

 

[Free bird]

Futures for a rate increased jumped big today. Closing in on a 50/50 chance of another .25 bp hike

 

[COcheesehead]

Always assumed there will be another. Question is will it be the last.

 

[Car-Guy]

^^^^^^
Assuming no more big surprises , I'm guessing one more .25 point then a long pause.

 

[jldavid47]

I bought a 9 month brokered CD from Signature Bank (yes, that Signature Bank) back in January. Late today I got this from Schwab.

You may already know that Signature Bank of New York, NY, was recently closed by its primary banking regulator. I'm writing regarding your Signature Bank certificate(s) of deposit (CD), which are held in your account noted above. Please note that to protect depositors, the FDIC entered into an agreement with Flagstar Bank of Hicksville, NY, to assume all brokered deposits of Signature Bank.

There is no known impact to your Signature Bank CD(s) at this time. However, the acquiring bank may lower the interest rate(s) on the CD(s) or redeem the CD(s) ahead of their maturity date(s). If the CD(s) are redeemed early, the cash proceeds will be credited to your account. If the interest rate(s) on the CD(s) are lowered, we will notify you as soon as possible, and you will likely have the option to redeem the CD(s) early.

So, as of now nothing changes. We'll see what Flagstar Bank decides to do. Worst case scenario is I get my money back early plus some interest.

 

[HealthyFuture]

I skipped Zion. Did not like their rating.

ShokWaveRider, which rating/ source, and what gave you concern? (From someone seeking to learn more.)

 

[Brook2]

CD rates in big transition?

Just saw this alert on a website that has a database of CD's (https://www.depositaccounts.com/)

"ALERT: Due to the recent rate changes by the Federal Reserve, we're detecting a high volume of deposit rate changes by banks and credit unions. If you're unable to find an account, it may be hidden temporarily while it is being reviewed for accuracy. We appreciate your patience."

 

[jldavid47]

SWVXX is up to 4.61% this morning.

 

[GenXguy]

SWVXX is up to 4.61% this morning.

Vanguard

VMFXX is 4.68% 7 day SEC
VMRXX is 4.70% 7 day SEC