Best CD, MM Rates & Bank Special Deals Thread 2021 - Please post updates here

[jazz4cash]

With CD rates so low, I’ve switched to investing maturing CDs into insurance company issued MYGAs, which are very similar. You can find 3% for 5 year MYGAs. Granted they are not FDIC insured. One advantage is that taxes on earnings are deferred until the money is withdrawn.

+1. I locked one in just before rate dropped from 3.05 to 2.5 for A rated insurer. If I was buying today I’d accept B+ to get 3%. It took 5 weeks to fund. I really like the 10% /yr withdrawal feature even though I shouldn’t need to do that. I have a bit of room to add-onto my NFCU CD. I am very surprised by some of the riskier suggestions to replace FDIC CDs.

 

[audreyh1]

I have a few NFCU CDs coming up for renewal, all 3%. Just checked their renewal rates - .55% for 12 month, .6% for 18 month.

I would consider moving to Ally for .6% on a 12 month, but I think NFCU has a limit on transferring out.

You can pull from Ally once you have a bank transfer link established. Limits are very high, and NFCU limit will not apply.

Ally is currently offering a 15 month 0.65% CD special. You may have to google it as Ally doesn’t include the offer in their standard CD list.

 

[Mike1968]

You can pull from Ally once you have a bank transfer link established. Limits are very high, and NFCU limit will not apply.

Ally is currently offering a 15 month 0.65% CD special. You may have to google it as Ally doesn’t include the offer in their standard CD list.

Here is the link to the Ally 15 month(Select CD) special:


https://www.ally.com/go/bank/15m-select-cd/

 

[pb4uski]

Sad that 0.65% for 15 months is attractive enough to be worthy of mention... but those are the times that we live in.

 

[audreyh1]

Yes, it’s still better than MM funds at brokerages, and most high yield savings accounts which can continue to drop further.

The extra 0.5% bonus for renewing an Ally CD at least brought it to 0.7%.

 

[pb4uski]

Yes, it’s still better than MM funds at brokerages, and most high yield savings accounts which can continue to drop further.

The extra 0.5% bonus for renewing an Ally CD at least brought it to 0.7%.

You mean 0.05% bonus... right?

 

[Dtail]

You mean 0.05% bonus... right?

Yes.

 

[audreyh1]

You mean 0.05% bonus... right?

Right, sorry!

 

[audreyh1]

The Ally 15 month "Select" promotional CD offer has been extended to 5/04/21 and is currently still offered at 0.65%.

If you rollover a maturing Ally CD you get an additional 0.05% interest rate bonus added.
https://www.ally.com/go/bank/15m-select-cd/

 

[BergLust]

The Ally 15 month "Select" promotional CD offer has been extended to 5/04/21 and is currently still offered at 0.65%.

If you rollover a maturing Ally CD you get an additional 0.05% interest rate bonus added.
https://www.ally.com/go/bank/15m-select-cd/

Well, this may be one I look into. Thanks for the tip. The end of last year I did the Citi bonus offer: deposit 50k for 60 days and get $700 bonus. I just got the bonus deposited and am in the process of closing that account. Need to park the money somewhere.

 

[Dtail]

The Ally 15 month "Select" promotional CD offer has been extended to 5/04/21 and is currently still offered at 0.65%.

If you rollover a maturing Ally CD you get an additional 0.05% interest rate bonus added.
https://www.ally.com/go/bank/15m-select-cd/

This offer automatically renews into a 12 month CD, so one would need to actively manage this aspect if not wishing to do so.
Easy to do, but just need to be aware of.

 

[audreyh1]

This offer automatically renews into a 12 month CD, so one would need to actively manage this aspect if not wishing to do so.
Easy to do, but just need to be aware of.

Very easy to do. You might have to wait until within 12 months of maturing, but then you can change renew options online to move funds to savings or whatever.

60 day interest early withdrawal penalty too, which is about as good as it gets for a penalty.

 

[jazz4cash]

Very easy to do. You might have to wait until within 12 months of maturing, but then you can change renew options online to move funds to savings or whatever.

60 day interest early withdrawal penalty too, which is about as good as it gets for a penalty.

There is also a 10 day grace period starting on the maturity date if you need to make changes

 

[roadyrunner]

Marcus Bank Goldman Sachs has 0.70% APY bonus savings available:
https://www.marcus.com/us/en/savings/referral?referralcode=TIM-N2W-U53P

 

[pb4uski]

For 3 months...

... Simply open an Online Savings Account as a new customer by clicking below, and for 3 months, you could earn an Annual Percentage Yield (APY) that's 0.20% higher than the stated APY available at marcus.com.

 

[jazz4cash]

I received a flyer in the mail but cannot find any details online......

M&T Bank MyChoice Premium Checking Bonus offer
Open new account by 2/26 with promo code CA
Maintain average monthly balance of $10k for March and April
Bonus of $350 will be credited by 5/31.

$50 close out fee if account is closed within 180 days. Offer not available in all regions

 

[njhowie]

I received a flyer in the mail but cannot find any details online......

M&T Bank MyChoice Premium Checking Bonus offer
Open new account by 2/26 with promo code CA
Maintain average monthly balance of $10k for March and April
Bonus of $350 will be credited by 5/31.

$50 close out fee if account is closed within 180 days. Offer not available in all regions

I did this deal a couple years ago. Had to go in to the local branch to do it. The account was set up very quickly - in and out in 20 minutes. Bonus was credited when indicated. Closed account after the 180 days past. Once you pass the window for the bonus, you can lower the balance to the minimum to avoid fees.

 

[jazz4cash]

I did this deal a couple years ago. Had to go in to the local branch to do it. The account was set up very quickly - in and out in 20 minutes. Bonus was credited when indicated. Closed account after the 180 days past. Once you pass the window for the bonus, you can lower the balance to the minimum to avoid fees.

According to the fine print you should be eligible if it’s been more than 12 months. I just tied up my disposable cash in the Marcus promo and don’t really wanna jump thru hoops or start up with a new bank.

 

[njhowie]

According to the fine print you should be eligible if it’s been more than 12 months. I just tied up my disposable cash in the Marcus promo and don’t really wanna jump thru hoops or start up with a new bank.

Thanks - will look into it...but we've also loaded up on other promos already so not much free cash floating around here either. Have one with Marcus, two with Citi, and two with Chase.

 

[jazz4cash]

M&T Bank has another promo that is $250 for opening a new account with "qualifying" direct deposits of $500 within 90 days. That might actually be better if you can pass the qualifying direct deposit test, I can't.

 

[Dtail]

Very easy to do. You might have to wait until within 12 months of maturing, but then you can change renew options online to move funds to savings or whatever.

60 day interest early withdrawal penalty too, which is about as good as it gets for a penalty.

On a semi related matter, I didn't know until today that interest on a no penalty 11 month Ally CD is not credited at year end for tax purposes, but only at maturity and thus taxed in that associated year.

 

[audreyh1]

On a semi related matter, I didn't know until today that interest on a no penalty 11 month Ally CD is not credited at year end for tax purposes, but only at maturity and thus taxed in that associated year.

Yes! I discovered this on Jan 1 and was quite delighted that my taxable income for the year was lower than expected!

 

[RetireAge50]

Had some Navy Federal cd’s mature today. Moved it over to T-mobile savings 1% until I can find something better. This is available to everyone even if you do not use T-Mobile and is FDIC insured.

 

[BergLust]

Had some Navy Federal cd’s mature today. Moved it over to T-mobile savings 1% until I can find something better. This is available to everyone even if you do not use T-Mobile and is FDIC insured.

Any downside to this T-Mobile checking at 1%. Right now I have some money in Ally at 0.5%. Obviously 1% sounds better.

 

[RetireAge50]

Any downside to this T-Mobile checking at 1%. Right now I have some money in Ally at 0.5%. Obviously 1% sounds better.

It doesn’t have the fanciest web page or app (and everything is pink[emoji254]). The rate has remained 1% so may not adjust upward if rates move in the future.