Best CD, MM Rates & Bank Special Deals Thread 2022 - Please post updates here

[Car-Guy]

I mentioned the 7-figure $ amount because at the point of transfer, I could purchase a fund with a $1,000,000.00 minimum (which I won't be able to do once I start doing a bond ladder and equity purchases.) [It wasn't meant to be a humble brag - I've never had that much cash transfer ever before.]

I don't think anyone here takes offense. After all, it's just another zero placeholder added to $100,000.00. A zero really isn't that much, is it.

 

[copyright1997reloaded]

I don't think anyone here takes offense. After all, it's just another zero placeholder added to $100,000.00. A zero really isn't that much, is it.

I'll take another!

 

[Car-Guy]

^^^^ Me too

 

[audreyh1]

I mentioned the 7-figure $ amount because at the point of transfer, I could purchase a fund with a $1,000,000.00 minimum (which I won't be able to do once I start doing a bond ladder and equity purchases.) [It wasn't meant to be a humble brag - I've never had that much cash transfer ever before.]

Well you’ll just have to do your own research to see if Fidelity has MM funds with $1M minimums that pay significantly higher yields.

 

[Montecfo]

Million here and million there and pretty soon, well, you know.

To the OP, you could collect $2500 if you moved that money to Etrade as they have a bonus deal running.

Fidelity doesn't do that but I understand they may make a match to a competitor. I would go for that and also ask them to pay the transfer fees.

https://us.etrade.com/what-we-offer...WThyf4f21ixOlxlCOxhoCHMYQAvD_BwE&gclsrc=aw.ds

 

[copyright1997reloaded]

Million here and million there and pretty soon, well, you know.

To the OP, you could collect $2500 if you moved that money to Etrade as they have a bonus deal running.

Fidelity doesn't do that but I understand they may make a match to a competitor. I would go for that and also ask them to pay the transfer fees.

https://us.etrade.com/what-we-offer...WThyf4f21ixOlxlCOxhoCHMYQAvD_BwE&gclsrc=aw.ds

Thanks for the mention on e-trade. I had decided (at least for the moment) to with FIDO because my mega-corp 401K was already there, and because I didn't do much in-kind. I did this mid-afternoon yesterday and my new Rollover is already showing the deposit "pending" with the correct amount in the new account. So that is pretty darn quick. Once I get positions established the way I want them (individual stocks, ETF's, individual bonds) then I can think about moving it again.

OTOH, I have accounts at Fido, Schwab, Ameritrade, "quite a few" banks, treasury direct, paper savings bonds, term insurance w/cash fund (4% min guaranteed which had been great but now not so)...so most likely consolidation should be the plan for my beneficiaries sake.

 

[ShokWaveRider]

Snaxx

 

[mickeyd]

My Ally account now pays an interest rate of 3% APY. That, in addition to the 1% of $50K, makes this an even sweeter deal for those who hopped on this wagon on time.

 

[4legsgood]

...
OTOH, I have accounts at Fido, Schwab, Ameritrade, "quite a few" banks, treasury direct, paper savings bonds, term insurance w/cash fund (4% min guaranteed which had been great but now not so)...so most likely consolidation should be the plan for my beneficiaries sake.

I haven't hit them up for this in awhile but I have had good luck with Schwab matching other brokerage offers - only required talking on the phone to a representative, and providing them a link to the offer you're asking them to match.

 

[John Galt III]

The 7 day hold came off my new settlement fund stash at Vanguard, and I just threw a modest amount of cabbage into my first Vanguard CD. First Business Bank of Milwaukee. 4.3 %. Three year term. Non-callable. Proud member of the 4.X club now. Woohoo !

 

[Fermion]

While the e-trade $2500 deal does sound attractive, if they don't have a settlement fund equal to Fidelity, there is some loss of potential money there.

$1,000,000 sitting in Fidelity 3.8% fund throws off $3166 per month!

 

[ShokWaveRider]

While the e-trade $2500 deal does sound attractive, if they don't have a settlement fund equal to Fidelity, there is some loss of potential money there.

$1,000,000 sitting in Fidelity 3.8% fund throws off $3166 per month!

3.9% at Schwab SNAXX

 

[NomDeER]

The 7 day hold came off my new settlement fund stash at Vanguard, and I just threw a modest amount of cabbage into my first Vanguard CD. First Business Bank of Milwaukee. 4.3 %. Three year term. Proud member of the 4.X club now. Woohoo !

Congrats on finally being able to buy!

Also, FYI, the best CDs are usually gone by late in the week at Vanguard and the pickings are generally worse over the weekend. Recently, the best non-callable yields seem to be available Monday mornings, though I think I saw some once on a Wednesday morning. You should be able to get better than 4.3% on Monday. It's also always a good idea to check the Treasury prices just before buying a CD because sometimes the Treasuries are actually giving better yields (even before taking into account the benefit of state taxes).

 

[John Galt III]

Congrats on finally being able to buy!

Also, FYI, the best CDs are usually gone by late in the week at Vanguard and the pickings are generally worse over the weekend. Recently, the best non-callable yields seem to be available Monday mornings, though I think I saw some once on a Wednesday morning. You should be able to get better than 4.3% on Monday. It's also always a good idea to check the Treasury prices just before buying a CD because sometimes the Treasuries are actually giving better yields (even before taking into account the benefit of state taxes).

Thanks for the tip on timing !

 

[mickeyd]

The 7 day hold came off my new settlement fund stash at Vanguard, and I just threw a modest amount of cabbage into my first Vanguard CD. First Business Bank of Milwaukee. 4.3 %. Three year term. Non-callable. Proud member of the 4.X club now. Woohoo !

Can you refer me to the VG web page that references this CD.

Thanks,
mickeyd

 

[disneysteve]

Can you refer me to the VG web page that references this CD.

Thanks,
mickeyd

https://personal.vanguard.com/us/FixedIncomeHome


Go to this page. It lists CDs, Treasuries, Agencies, Munis, and Corporates sorted by duration and risk. Just click on the 3-year CD number and it will pull up a list of CDs including the one John Galt III mentioned.

 

[NomDeER]

Can you refer me to the VG web page that references this CD.

Thanks,
mickeyd

https://personal.vanguard.com/us/FixedIncomeHome


Go to this page. It lists CDs, Treasuries, Agencies, Munis, and Corporates sorted by duration and risk. Just click on the 3-year CD number and it will pull up a list of CDs including the one John Galt III mentioned.

Make sure you log in. You often can't see all the offerings if you aren't logged in. Notice that you can get a 3-year Treasury on the secondary market that is just as good as the 4.3%.

Also, there is an FDIC insured 3-year non-callable CD from Bank of India at 4.95%. It won't last long, though. There will be more options Monday morning.

 

[disneysteve]

there is an FDIC insured 3-year non-callable CD from Bank of India at 4.95%. It won't last long, though. There will be more options Monday morning.

I grabbed some of that one myself. Even a touch better than the 4.90% I bought last week. I've got no problem locking in 3 years at nearly 5% at this point. And if the rates climb even higher, we've got stuff maturing monthly so we can still take advantage of that.

 

[Fermion]

I have been wondering how the theory of lump sum vs DCA in stocks might apply also to bonds.

It is generally accepted that lump sum beats DCA in stocks.

By laddering or waiting for better rates, is it similar to trying to time the market in stocks by DCA?

 

[Earl E Retyre]

... there is an FDIC insured 3-year non-callable CD from Bank of India at 4.95%. It won't last long, though. There will be more options Monday morning.

Is this bank headquartered in India and locally in NY? Is it just as safe as local banks since it is FDIC insured?

 

[Another Reader]

I grabbed some of that one myself. Even a touch better than the 4.90% I bought last week. I've got no problem locking in 3 years at nearly 5% at this point. And if the rates climb even higher, we've got stuff maturing monthly so we can still take advantage of that.

Bought one today. We will see what appears on Monday...

 

[John Galt III]

Make sure you log in. You often can't see all the offerings if you aren't logged in. Notice that you can get a 3-year Treasury on the secondary market that is just as good as the 4.3%.

Also, there is an FDIC insured 3-year non-callable CD from Bank of India at 4.95%. It won't last long, though. There will be more options Monday morning.

Wow, where did that Bank of India 4.95% CD come from? I didn't see it earlier today. I notice it is nestled in amongst the callable CDs high up in the list. Dang.

 

[audreyh1]

Texas has a Blue Sky Law that means we can’t purchase CDs from some of these issuers including Bank of India even thought they are FDIC insured. Fidelity has an “SKY” memo next to the offering.

We’re not the only state: https://www.investopedia.com/terms/b/blueskylaws.asp

 

[John Galt III]

Just some more Vanguard user experience to share here. I wanted to cancel my order for the 4.3 % CD so I could use that money to buy the 4.95 % CD instead. The website allowed me to cancel it. But.... the money is not available to purchase anything else at this time. And in another screen (upstream) it says the order is still 'accepted'. So in one screen it says 'accepted' and in the other screen it says 'canceled' and I do not have access to the money.

But I had some powder remaining to buy some 4.95 % Bank of India CD, so I did that.

Don't know how long I have to wait for my canceled order's money to be usable again.
Maybe on Monday. Or maybe it isn't canceled at all.

 

[NomDeER]

Texas has a Blue Sky Law that means we can’t purchase CDs from some of these issuers including Bank of India.p even thought they are FDIC insured. Fidelity has an “SKY” memo next to the offering.

We’re not the only state: https://www.investopedia.com/terms/b/blueskylaws.asp

According to Vanguard, if there is a Blue Sky limit on your state, the CD won't even show up as an option for you. They sometimes also list the restricted states.

https://personal.vanguard.com/us/content/Funds/FundsCertOfDepositOVContent.jsp