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

[jazz4cash]

Rates on MYGAs seem to be trending up. I see 2.7 for 5yrs for an A insurer, up from 2.5ish They were edging up before the T-Notes jumped up lately.

 

[RHONDAVE]

I just finished the Citi Priority package. Deposited money to meet the requirements and didn't touch. All went fine. Depending on the state you live in, you might be about to do a similar thing with Huntington, for $500 bonus for $25K. I mentioned the above in a recent post.

This offer expires 4/1/2021, is there still time to complete the steps?

 

[Golden sunsets]

This offer expires 4/1/2021, is there still time to complete the steps?

If you're referring to the Citipackage paying $700 per (2)accounts, the answer is yes. I opened 4 accounts on two social security numbers in minutes and linked to a different bank to fund the accounts. The whole process took less than half an hour.

 

[RHONDAVE]

If you're referring to the Citipackage paying $700 per (2)accounts, the answer is yes. I opened 4 accounts on two social security numbers in minutes and linked to a different bank to fund the accounts. The whole process took less than half an hour.

The Citi Gold Account Package says that you must first open regular or interest checking account, then enroll in the cash checking bonus offer, then open a savings account in an eligible package in that order. I do not see any mailing address restrictions here.



I would use 2 different funding banks also.

 

[Golden sunsets]

Actually there is a link on one of their pages advertising this package that you can click to get to the page where you then open the checking and then savings account. The page walks you through the process. Just make sure that when you are ready to set up the second group of two accounts that you start again from the link.

I called after I followed this procedure and was told that the offer code had been added to the accounts. You don't have to fund the entire $50,000 on day one. But the 60 days does not start until the full $50,000 is in the accounts. Also I'm sure that there is some sort of expiration on how long you have to fund the accounts. I did it the next day.

 

[retiredunder50]

AMEX just dropped to 0.40 percent for "High" Yield Savings


I wonder when this trend starts to reverse itself; 10 year treasury is at 1.534 as I type this.

 

[simple girl]

I'm contemplating doing the Citi Priority Account Package for DH and I as well, as I have some CD's coming due and I don't want to tie all of the $ up in my GTE add-on CD this early.

So, if I understand it correctly, I would:

1. Open two individual checking accounts by 4/1
2. Enroll in the Cash Bonus offer by the 30th day
3. Open a new savings account for each of us by the 30th day
4. Fund either the checking/savings account for each of us with $50K each
5. Keep the $ there for at least 60 days and keep the eligible account open for up to 90 days afterwards until the cash bonus is paid

If they take the full 90 days then your money is held for 5 months, and on $50K this equates to approximately 3.36% annualized return.

Questions:

1. Is the above correct?
2. Is it better to keep the $ in the checking account due to the potential fee for minimum balance below $10K? Or best to split $ between the two accounts, keeping at least $10K in the checking? I'm not sure if I am reading the fine print correctly.
3. Are there any account closing fees?

 

[Golden sunsets]

I'm contemplating doing the Citi Priority Account Package for DH and I as well, as I have some CD's coming due and I don't want to tie all of the $ up in my GTE add-on CD this early.

So, if I understand it correctly, I would:

1. Open two individual checking accounts by 4/1
2. Enroll in the Cash Bonus offer by the 30th day
3. Open a new savings account for each of us by the 30th day
4. Fund either the checking/savings account for each of us with $50K each
5. Keep the $ there for at least 60 days and keep the eligible account open for up to 90 days afterwards until the cash bonus is paid

If they take the full 90 days then your money is held for 5 months, and on $50K this equates to approximately 3.36% annualized return.

Questions:

1. Is the above correct?
2. Is it better to keep the $ in the checking account due to the potential fee for minimum balance below $10K? Or best to split $ between the two accounts, keeping at least $10K in the checking? I'm not sure if I am reading the fine print correctly.
3. Are there any account closing fees?

I did it slightly differently. I followed this link:

https://banking.citibank.com/cbol/c...1&ProspectID=0DE7C5839F0246048F7A7B9972A10848

The link leads you through the steps. Read all of the fine print first. Make sure that for the second set of accounts you go back to the original link. Make sure that you leave at least $1 in one of the accounts, as they warn you that an account with no balance can be closed. I called after I set up the accounts and they verified that the bonus code was attached to my accounts. If you want to minimize the amount of time the money is held, don't wait long to fund the full 50K. The sixty days does not begin until after the full 50K is in the account. I believe there are no monthly fees as long as the balance between the 2 accounts exceeds 50K. I don't know about any account closing fees. Once the bonus hits the accounts, it is my intention to consolidate all of the funds into the checking account and then do a pull from Ally to clear out all of the funds.

It took me less than half an hour to do all of this. Very easy. In addition to linking an outside account from the Citi side, I also set up a linked account from the Ally side so that I can pull or push.

 

[simple girl]

I did it slightly differently. I followed this link:

https://banking.citibank.com/cbol/c...1&ProspectID=0DE7C5839F0246048F7A7B9972A10848

The link leads you through the steps. Read all of the fine print first. Make sure that for the second set of accounts you go back to the original link. Make sure that you leave at least $1 in one of the accounts, as they warn you that an account with no balance can be closed. I called after I set up the accounts and they verified that the bonus code was attached to my accounts. If you want to minimize the amount of time the money is held, don't wait long to fund the full 50K. The sixty days does not begin until after the full 50K is in the account. I believe there are no monthly fees as long as the balance between the 2 accounts exceeds 50K. I don't know about any account closing fees. Once the bonus hits the accounts, it is my intention to consolidate all of the funds into the checking account and then do a pull from Ally to clear out all of the funds.

It took me less than half an hour to do all of this. Very easy. In addition to linking an outside account from the Citi side, I also set up a linked account from the Ally side so that I can pull or push.

Thank you very much for the additional details!!!

 

[audreyh1]

AMEX just dropped to 0.40 percent for "High" Yield Savings


I wonder when this trend starts to reverse itself; 10 year treasury is at 1.534 as I type this.

Yeah, me to. I was very surprised.

 

[Golden sunsets]

Thank you very much for the additional details!!!

Once you are set up, you can go on line and hit chat and then ask for a representative and ask if your accounts are set up for the bonus. They will respond that you are and cite the bonus code which is 4HRZBDE95K .

 

[Dtail]

AMEX just dropped to 0.40 percent for "High" Yield Savings


I wonder when this trend starts to reverse itself; 10 year treasury is at 1.534 as I type this.

The short end of the yield curve hasn't really changed too much. The curve has steepened quite a bit.

 

[Gotadimple]

Live Oak Bank holding at .60% APY for high yield savings. This rate has been in effect since December.

 

[Golden sunsets]

If you live in one of TD Bank's 16 qualifying states, they have a revision of an old offer that will pay up to $500 for new accounts. $300 for opening a checking account, with a qualifying DD of $2,500(60 days) and $200 for opening a savings account with a minimum balance of $20,000(for 90 days). You don't have to do both. You can do one or the other, or both. So a potential $1,000 if we open one for each of us in our household. Bonus paid out within 140 days of meeting criteria, however if an account is closed within 6 months of opening they reserve the right to holdback the bonus from the closeout balance.

Details here: https://www.doctorofcredit.com/targeted-td-bank-300-checking-200-savings-bonus/#The_Offer

 

[jazz4cash]

I signed up for that TD Bank deal. The account opening process was very easy.

 

[Golden sunsets]

I signed up for that TD Bank deal. The account opening process was very easy.

Did you have to use a special link and did you open one of each or just the savings?

 

[jazz4cash]

Did you have to use a special link and did you open one of each or just the savings?

I received a mailer directing me to TD bank.com/earn500. It said the offer was only valid for addressee and I could not find this offer by searching. At that time the offer on the general website was not as good. I only opened the Beyond Checking account ($300).

 

[Chuckanut]

Just as a point of comparison, I notice that the S&P500 dividend yield is currently about 1.8%. That's about 3.5x more than the current savings account rate at Ally. Yes, there is more risk with stocks.

 

[njhowie]

Just as a point of comparison, I notice that the S&P500 dividend yield is currently about 1.8%. That's about 3.5x more than the current savings account rate at Ally. Yes, there is more risk with stocks.

Just my view...if you're going to go with stock dividends as a replacement/alternative for interest on cash, consider sticking to preferred shares where there is less volatility in the share price and minimal risk to the dividend (relative to the common stock dividend). I continue picking up preferred shares in strong issuers paying 6% to 7%. Preferred shares are closer to a fixed income instrument than common shares. quantumonline.com has a good section for preferred stocks.

 

[pb4uski]

+1

 

[ShokWaveRider]

Got $1.2m coming off 5 & 3% CD next month..... Nowhere to put the money...

 

[Dtail]

Got $1.2m coming off 5 & 3% CD next month..... Nowhere to put the money...

I know you are not in the stock market, but when rates are low over a sustained period, the choices get tougher.

 

[nwsteve]

Just my view...if you're going to go with stock dividends as a replacement/alternative for interest on cash, consider sticking to preferred shares where there is less volatility in the share price and minimal risk to the dividend (relative to the common stock dividend). I continue picking up preferred shares in strong issuers paying 6% to 7%. Preferred shares are closer to a fixed income instrument than common shares. quantumonline.com has a good section for preferred stocks.

NJ--would you be willing to share a couple of your favorite preferred issues? What source do you used to uncover and get quotes?
Thx

 

[pb4uski]

Some good sources are quantumonline and innovativeincomeinvestor. I also like Schwab's stock screener. I try to focus on investment grade companies but I do occasionally dip into below investment grade issues. Also check out our preferred stock thread.... https://www.early-retirement.org/fo...the-bad-and-the-in-between-2021-a-107188.html

If you get into this a real important thing to focus on is call risk... if you pay more than stated value for a preferred stock or baby bond that is callable now or soon, it might get called and you'll receive less than you paid... so as a general rule you want to also know yield-to-call (which is frequently hard to find).

Some of my holdings include Bank of America, Capital One Bank, Duke Energy, El Paos Energy, Goldman Sachs, Hartford Financial, JPMorgan Chase, MetLife, Charles Schwab, Wells Fargo and others. YMMV.

 

[camfused]

Got $1.2m coming off 5 & 3% CD next month..... Nowhere to put the money...

Consider the T-mobile, UHaul, (others) investment accounts.