Best CD & MM Rates Thread 2019 - Please post updates here

[copyright1997reloaded]

GTE lowered their 5 year to 2.3% today from 3.0% with no jumbo extra yield available either.
Hope everyone got through on their applications.

Finally got my application approved on Friday after multiple chat sessions. Supposedly it is set up, actual ACH of funds is still in progress.

 

[Dtail]

Finally got my application approved on Friday after multiple chat sessions. Supposedly it is set up, actual ACH of funds is still in progress.

You made it just under the wire.

Also make sure the CD agreement you receive states that this special CD has unlimited add ons for unlimited amounts.

I just received in the mail this document and it states the current max add on rules (6k yearly) which is not correct, so I will visit them and get it corrected to the original agreement.

 

[jazz4cash]

I just saw email from Goldman Sachs re the Marcus online High Yeild savings rate drop from 2.15 to 2.00. The beat goes on....

 

[almost there]

CD Rates are still dropping. Navy still seems to be the best bet. Am now seeing a 1 and 3 month CD's higher than the 5 year at some places. I can get the same rate on a saving account as some 5 year CD's.
Its nuts. Thought we were finally through with 5000 year artificially low rates. Guess not.

 

[GenXguy]

I just started my 4th CD at NFCU getting another 18 mo 3% CD. I have some 2.75% Ally CDs coming up for renewal in 6 months. Ally just dropped their 1 yr to 2.4%, so I hate to think what it might be in another 6 months.

 

[Dtail]

Yeah have a 2.85% Ally Bank CD coming due in 6 months. Will probably add on to our 3% GTE CD.

 

[calmloki]

So a funny/not funny experience: Had a CD mature at Andrews FCU yesterday. It transferred into our normal account at Andrews and showed online right away. I did an ACH pull from Discover and then tried to move the bulk to CIT bank, which was paying 2.3%. Andrews said wires were free for me, so I requested a wire from them in the morning. Pretty painless doing a wire via phone. They needed someone to call me and vet me - fine, appreciate that they aren't just being too casual about shipping our $$. Told multiple people there that timing was pretty critical. Took them till after 3 eastern to call me, so no wire delivery yesterday. Discover shows the ACH deposit effective this morning.
Discover's ACH transfer was faster than Andrews wire.

 

[almost there]

Have a 2.75% 1 yr with Ally up on 1/1/20.
Plan to add it to an "ok to add" 3.25% NFCU 17 month thats up on 6/11/20.
After that? No idea where this $$ will go.
Just glad most of my $ is tied up for 3-5 yrs....
Strange times indeed........

 

[pb4uski]

GTE lowered their 5 year to 2.3% today from 3.0% with no jumbo extra yield available either.
Hope everyone got through on their applications.

I slithered in under the deadline and got the 3.0%.... now just need to transfer IRA money from Vanguard. Vanguard must be wondering what is going on... I'll have made 3 sizeable rollovers in the last 4 months.

 

[almost there]

Vanguard has no idea whats going on.
Good luck with the move.
Fingers crossed for you.

 

[Dtail]

I slithered in under the deadline and got the 3.0%.... now just need to transfer IRA money from Vanguard. Vanguard must be wondering what is going on... I'll have made 3 sizeable rollovers in the last 4 months.

If you qualified for the 3% 5 year and are making a sizable IRA rollover, you should qualify for the the 3.30% APY 5 year for jumbo CD's over 100k.

 

[pb4uski]

If you qualified for the 3% 5 year and are making a sizable IRA rollover, you should qualify for the the 3.30% APY 5 year for jumbo CD's over 100k.

I just asked about that and am awaiting a response.... if it works I owe you lunch when we get back to Florida.

 

[Dtail]

I just asked about that and am awaiting a response.... if it works I owe you lunch when we get back to Florida.

haha. My fingers are crossed for you. It should work. The 3% and 3.30% jumbo were both initiated and stopped at the same time.

 

[pb4uski]

haha. My fingers are crossed for you. It should work. The 3% and 3.30% jumbo were both initiated and stopped at the same time.

Sorry, no free lunch for you.

We do not offer the jumbo certificates anymore. We would have had to open it as a jumbo certificate and have gotten the jumbo funds in before the rate change.

Things have progressed... Vanguard has the transfer paperwork including wiring instructions... and I initiated the trades to raise the cash before 4pm today... so as soon as those trades settle Vanguard will wire the money to GTE Financial.

 

[Dtail]

Sorry, no free lunch for you.



Things have progressed... Vanguard has the transfer paperwork including wiring instructions... and I initiated the trades to raise the cash before 4pm today... so as soon as those trades settle Vanguard will wire the money to GTE Financial.

Okay sorry to hear.

 

[friar1610]

Keeping my fingers crossed that NFCU's rates extend into early Sep. I have some money that I can't get my hands on until Sep 3 or 4 and would love to lock up with Navy!

 

[RetiredAndLovingIt]

I slithered in under the deadline and got the 3.0%.... now just need to transfer IRA money from Vanguard. Vanguard must be wondering what is going on... I'll have made 3 sizeable rollovers in the last 4 months.

Be sure to check your paperwork when you get it. Mine had 0.00 for the rate and the add on cd disclosure said a limit of $6000.00 per year for a 12 month certificate, mine was the 60 month add on CD. I contacted them through chat and they sent me a corrected certificate but she mentioned that they have had problems with the auto generated letters being wrong depending on how the account was funded. Mine was an ACH from Discover. I funded on the 19th and just got the paperwork today.

 

[pb4uski]

I had a similar issue. The CD was 2.2% when I first got online on Monday. Later in the day they caught it and corrected it to 3.0%.

 

[REWahoo]

Keeping my fingers crossed that NFCU's rates extend into early Sep. I have some money that I can't get my hands on until Sep 3 or 4 and would love to lock up with Navy!

I took advantage of a 40 mo IRA CD offer at Navy in April paying 3.68%. I realized last month when rates started dropping rapidly that the CD allowed me to add to it at any time up to a max of $150k. So I did.

 

[Golden sunsets]

Be sure to check your paperwork when you get it. Mine had 0.00 for the rate and the add on cd disclosure said a limit of $6000.00 per year for a 12 month certificate, mine was the 60 month add on CD. I contacted them through chat and they sent me a corrected certificate but she mentioned that they have had problems with the auto generated letters being wrong depending on how the account was funded. Mine was an ACH from Discover. I funded on the 19th and just got the paperwork today.

Did you receive this incorrect paperwork by snail mail, or email? I'm away now but back next Thursday. I don't recall if I received a letter via mail. I might have and failed to look at it.

 

[Dtail]

Did you receive this incorrect paperwork by snail mail, or email? I'm away now but back next Thursday. I don't recall if I received a letter via mail. I might have and failed to look at it.

I got mine in the snail mail and it was also incorrect as to it was the regular rules which are now in place for the standard CD's.
Since the branch is only 5 minutes away, I went there personally and they printed the correct CD agreement from my file.

They just said that the standard letter was sent to all folks with CD's (however incorrectly). All good now. Got to watch them administratively.

 

[friar1610]

I took advantage of a 40 mo IRA CD offer at Navy in April paying 3.68%. I realized last month when rates started dropping rapidly that the CD allowed me to add to it at any time up to a max of $150k. So I did.

I jumped on that bandwagon too and may well add to it. In the current situation, I'm dealing with a taxable account situation and am hoping the current deal (5 year, 3.2/3.25%) lasts for another week or so.

 

[GenXguy]

I didn't setup any POD when I purchased my NFCU CDs and was looking into how to do it after the fact because I have quite a few beneficiaries. You have to print out a POD form, sign it, and send it to NFCU, and it's limited to 6 primary beneficiaries, and you have to enter the SS numbers of the beneficiaries. I have more than 6, and I don't know their SS and would rather not provide that info. But being limited to 6 makes it a non-starter. And third, you also can't view this info online for any of the NFCU accounts to see what the current POD info is. It's generally disappointing and surprising for such a large credit union.

I don't think any of these 3 issues come into play with Vanguard or Ally Bank, for example.

 

[jazz4cash]

I didn't setup any POD when I purchased my NFCU CDs and was looking into how to do it after the fact because I have quite a few beneficiaries. You have to print out a POD form, sign it, and send it to NFCU, and it's limited to 6 primary beneficiaries, and you have to enter the SS numbers of the beneficiaries. I have more than 6, and I don't know their SS and would rather not provide that info. But being limited to 6 makes it a non-starter. And third, you also can't view this info online for any of the NFCU accounts to see what the current POD info is. It's generally disappointing and surprising for such a large credit union.

I don't think any of these 3 issues come into play with Vanguard or Ally Bank, for example.

I don't think any of these issues exist with IRA CDs at NFCU, either. Doesn't make sense to have different procedure for regular CD's.

I think when I buy new CD's it defaults to my previous beneficiary choices or I can modify.

 

[almost there]

Just noticed Charles Schwab CD's are all about the same rate?
Got a 3.4% 5 yr with them not that long ago. (Jan 2019)
1 month, 3 mo, 9mo, 1yr, 2yr, 3yr, 5yr are all within .21% now.
With the 1 month being the highest 1.967%. Lowest is the 1 yr 1.75%.
Its nuts. lol lol Never seen anything like it............
Rates have been lower "once" a few yrs ago. Just dont recall them ever being so close.
Good thing we have Credit unions, and a few other options.
Just wanted to share with someone.