Best CD, MM Rates & Bank Special Deals Thread 2024 - Please post updates here

audreyh1 said:
My experience with Fidelity transfers is that if you initiate transfer before market closing time it goes out that day, and both Synchrony and Ally will notify you funds available later in the day. I’ve transferred from Fidelity and bought CDs same day.

Also funds from maturing T-Bills seem to be available first thing at Fidelity, so you can do all this same day.
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Yep. Just got off the phone and did the online transfer at Synchrony. Verified that they will honor the 5.5%APY as I'm within the 15 day funding window - even though when transferring from Synchrony HI-Yield to CD it shows 5.2% on the funding screen.
 
I prefer this website for the latest CD rates: https://www.investopedia.com/best-cd-rates-4770214

I don't see forum members talking about 5% CD for 2 or 3 years from DollarSavingsDirect or My Savings Direct (both are under the same parent Emigrant Bank). The rate is tempting, but I don't know how hard/easy it is to open a new account with them and move money. If DollarSavingsDirect or My Savings Direct fall under riskier FDIC insured banks then I would rather avoid them than earn a few extra dollars. Would anyone know?

That's one of the reasons I have started to avoid CU's. So much hassle to open a membership account and then a CD account plus limited amounts of money one can transfer in or out. One local FCU offers 5.61% 12-month CDs, but it wants to perform a hard pull on my credit history through TransUnion in order to become a member. Uhmm, I don't think so. I'll try to open a 14-month 5.40% CD at Marcus instead.
 
Anybody know anything about UFB Direct (via Axos Bank)? I was helping a friend get his finances straight, and as part of the plan I told him to open a HYSA. The plan also involves opening a Schwab brokerage account and getting his many 401Ks rolled over to a single IRA at Schwab. I told him I use Ally for my HYSA. He chose UFB Direct. So when I look at their site I see a surprising 5.25% APY (Ally is giving me 4.35%). I'm not into chasing rates and am happy with Ally but I was surprised by nearly a 1% difference. Here's what I see on their site: https://www.ufbdirect.com/savingsac...1SIFihKUlmGFlhwnayWCtfqkPXMBB90YaAjt-EALw_wcB
 
JackJester said:
Anybody know anything about UFB Direct (via Axos Bank)? I was helping a friend get his finances straight, and as part of the plan I told him to open a HYSA. The plan also involves opening a Schwab brokerage account and getting his many 401Ks rolled over to a single IRA at Schwab. I told him I use Ally for my HYSA. He chose UFB Direct. So when I look at their site I see a surprising 5.25% APY (Ally is giving me 4.35%). I'm not into chasing rates and am happy with Ally but I was surprised by nearly a 1% difference. Here's what I see on their site: https://www.ufbdirect.com/savingsac...1SIFihKUlmGFlhwnayWCtfqkPXMBB90YaAjt-EALw_wcB
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I'm not a Schwab customer, but I've been saving this post from an Early-Retirement member just because . Think it's still valid, so get your friend some extra bucks if they're joining Schwab:
*********************************************
Old 03-24-2022, 06:28 AM #31
indiajust
Recycles dryer sheets

Join Date: Aug 2017
Location: claremont
Posts: 399
I use this myself and recommend it to my ex, since she is too busy to manage. We both use the Schwab Int Advisor (their version of Robo account). I expect to convert mine to income in another few years. painless and effortless. I like the auto-rebalancing to smooth the investing ride.

Feel free to pass along a recommendation code, it will get your friend extra money. Does nothing for me.

https://www.schwab.com/public/schwab...=REFER2XZGGM9H
 
Ally does it again! Third CD rates drop within 2 weeks. I guess they have too many customers/deposits to too much money coming in.

I turned off renewal on some CDs maturing soon and will buy T-bills instead.

I’m sure glad I signed up for notifications from depositaccounts.com! Very timely as I already had an autoroll on the Monday T-bill auction and added to it. I maintain strict dates on my T-bill purchases.

Ally Bank CD Rates as of 1-26-2024
RichardW | 4 hours ago
Ally lowers CD rates for the third time in 14 days.
This time Ally lowers the rates of 6 CDs.
Ally Bank CD rates (APY) as of 1-26-2024 include:
6-month @ 5.05% (no change)
8-month Select @ 5.00% (no change)
9-month @ 4.95% (was 5.15%)
11-month No-Penalty @ 4.25% (was 4.35%)
12-month @ 4.90% (was 5.00%)
14-month Select @ 5.00% (was 5.10%)
18-month @ 4.65% (was 4.80%)
3-year @ 4.00% (was 4.15%)
5-year @ 4.00% (no change)
For more information regarding all Ally Bank CDs see:
https://www.ally.com/bank/cd-rates/
https://www.ally.com/go/bank/8m-select-cd/
https://www.ally.com/go/bank/14m-select-cd/
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I understand Discover Bank's game a little better today.

On the way up, they lag competitors like Ally. On the way down they hold on to slightly higher rates (in some cases) a bit longer.

The 1- year was 5.2% last week, and today it is 5.0% (slightly lags Ally's 4.9%).

Schwab's SWVXX is dipping in much smaller increments. Over the last week it dropped to 5.22% (7-day yield). No FDIC insurance of course.
 
Banks are racing to drop their CD rates. Yesterday I picked up probably my last for a while.
 
aja8888 said:
Marcus just emailed me offering a 5.4% cd for 14 months! :)
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Hey, hey! Better snap it up!

I’m curious about what is happening with Marcus. DH already has an Apple savings account through Goldman Sachs. Goldman Sachs issues the Apple Card.

However Apple is in talks with other issuers and I’ve heard they will probably switch to Synchrony. Goldman apparently wants to get out I’ve the credit card side of the consumer business? So I figure Goldman will offer something to the existing savings account holders - perhaps migrating them to Marcus?

Several stories. Here is one: https://www.zdnet.com/article/who-w...nd-what-does-this-shakeup-mean-for-its-users/
 
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audreyh1 said:
Hey, hey! Better snap it up!

I’m curious about what is happening with Marcus. DH already has an Apple savings account through Goldman Sachs. Goldman Sachs issues the Apple Card.

However Apple is in talks with other issuers and I’ve heard they will probably switch to Synchrony. Goldman apparently wants to get out I’ve the credit card side of the consumer business? So I figure Goldman will offer something to the existing savings account holders - perhaps migrating them to Marcus?

Several stories. Here is one: https://www.zdnet.com/article/who-w...nd-what-does-this-shakeup-mean-for-its-users/
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The rate is good thru 4/17! Which to me is amazing.
 
audreyh1 said:
Are you sure? Often a bank will say a special CD will be available through some date, but they don’t guarantee the rate.
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Hidden in the email (not easily seen) was a 10 day rate guarantee.

Im have a lot of stuff coming into maturity so I will jump on this with $100K.
 
aja8888 said:
Hidden in the email (not easily seen) was a 10 day rate guarantee.
Im have a lot of stuff coming into maturity so I will jump on this with $100K.
Click to expand...

Re Marcus, they say that their special rates are good through some date in April. However, then later on it states that "rates can change anytime without notice"... Isn't this a blatant oxymoronish speech? :confused::mad:

FWIW, I opened a new account with them last Sunday for the 14-month 5.40% special CD. A min. deposit is $500, but you can keep adding more $$ up to 10 days, and then the CD is locked. After the initial money that you deposit by an ACH transfer, you must call Marcus for the additional add-ons. They are open 24/7 and somebody picks up the phone pretty quickly. For example, my new account was locked for some reason when I wanted to login yesterday to confirm the deposit. I got help right away. I thought that if I've had an account with a small bank or a CU and the same happened there on Friday evening, well, good luck... you must wait until Monday to get help. In addition to other issues I've read other people experiencing on Deposit Accounts, I've decided that perhaps it's OK to sacrifice some interest income for the piece of mind. But that's just me though I still have to convince myself it's OK as like others I would like to maximize earnings :cool:

I will attempt to open longer term CD's today at Marcus. I don't see Fed increasing rates today.
 
audreyh1 said:
Banks are racing to drop their CD rates. Yesterday I picked up probably my last for a while.
Click to expand...

Well how about that! I just snagged the 9 month 5.30%, funding it on 1-29 and lo and behold they dropped rates the next day! Which was only a week after the previous reduction.
Synchrony Bank CD Rates as of 1-30-2024 - 1/30/2024
Synchrony lowers the rates of 11 CDs. Synchrony Bank CD rates (APY) as of 1-30-2024 include: 3-month @ 2.05% (was 2.25%) 6-month @ 4.80% (was 5.00%) 9-month @ 5.15% (was 5.30%) 11-month NP @ 3.65% (was 4.05%) 12-month @ 5.00% (no change) 13-month @ 4.50% (was 5.00%) 14-month @ 4.90% (was 5.00%) 15-month @ 5.00% (was 5.20%) 16-month @ 4.50% (was 5.00%) 18-month @ 4.50% (was 5.00%) 19-month @ 4.50% (no change) 24-month @ 4.20% (was 4.40%) 36-month @ 4.15% (was 4.30%) 48-month @ 4.00% (no change) 60-month @ 4.00% (no change) For more information regarding all Synchrony Bank CDs see: https://www.synchronybank.com/banking/ratesandterms/

Synchrony Bank CD Rates as of 1-23-2024 - 1/23/2024
Synchrony lowers the rates of 8 CDs. Synchrony Bank CD rates (APY) as of 1-23-2024 include: 6-month @ 5.00% (was 5.25%) 9-month @ 5.30% (no change) 11-month NP @ 4.05% (was 4.50%) 12-month @ 5.00% (was 5.30%) 13-month @ 5.00% (was 5.25%) 14-month @ 5.00% (was 5.25%) 15-month @ 5.20% (was 5.50%) 16-month @ 5.00% (was 5.25%) 18-month @ 5.00% (was 5.25%) 19-month @ 4.50% (no change) 24-month @ 4.40% (no change) 36-month @ 4.30% (no change) 48-month @ 4.00% (no change) 60-month @ 4.00% (no change) For more information regarding all Synchrony Bank CDs see: https://www.synchronybank.com/banking/ratesandterms/
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Info from depositaccounts.com
 
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I've been on the road a while and had a number of CD's mature while I was away. It was my plan when I left to just let the cash accumulate and wait until I got back to do anything. (Also I knew Powell would be speaking this week). So now I'm back and ready to start adding steps to my CD ladder. I think by the end of next week I'll be all in "again" and will probably be buying longer terms than I usually do. IMO, rates are past their peaks but still reasonable.
 
I figured out one important clue - Ally appears to change their rates only on Fridays, first thing.

No change today so I think my Sunday rollover will be OK. Fingers crossed!
 
audreyh1 said:
I figured out one important clue - Ally appears to change their rates only on Fridays, first thing.

No change today so I think my Sunday rollover will be OK. Fingers crossed!
Click to expand...
2-6-24 - Yet another Ally CD Rate change! And this time on a Tuesday.

Fortunately I completed my last rollover on 2-4. The CD I rolled into didn’t change later, but I’m tired of the frequent rates changes.
 
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