Dtail
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Perhaps a good time to lock in the 1.5% at Ally with their no penalty 11 mo CD?
Savings is still at 1.50% at Ally, but will probably change within days.
Perhaps a good time to lock in the 1.5% at Ally with their no penalty 11 mo CD?
I think you all have high expectations considering that fed funds futures were pricing in negative rates as early as November this morning. If you have access to Navy Federal, might be worth opening a 2 year "Easy Start" CD that allows additional deposits.
Savings is still at 1.50% at Ally, but will probably change within days.
Savings is still at 1.50% at Ally, but will probably change within days.
Savings is still at 1.50% at Ally, but will probably change within days.
The Annual Percentage Yield (APY) for your Online Savings Account is changing from 1.50% APY to 1.25% APY on all balance tiers, and the APY for your Money Market Account is changing from 0.75% APY to 0.50% APY on all balance tiers. Your new APYs are effective 5/12/2020 and will show online in your account details on 5/13/2020.
Got the email just now:
Kind of scary that we’re excited to lock in 1.5%!
Me too, so I quickly opened and funded a new 11-mo "no penalty" CD at 1.50%.
Sigh... these constant rate moves downward are getting depressing.
I have the option to load up at Navy at 2.3% through next July. I also have the option to do a dump in at 2.5% a year end for one year. I am having a hard time coming up with reasons why I should not show up with an awful lot of cash.
Don’t they limit the amount you can put in those?
The specials have limits, the rest do not. The 2.5 rate is no limit.
I'm looking all over the NFCU site and I don't find this 2.5% rate for any certificate. Can you point it to me? Thanks.
I am a member and see the "Special EasyStart℠ Certificate" but that has a $3K max for one year only. Everthing else is much lower in rate.
The 2.5% is a past variable CD deal that is not available. What you want is the regular Easy Start CD, not the Special.
Hopefully by this time next year, rates will start inching up again.
For folks with Fidelity - now that most of the money fund and FDIC insured program bank sweep yields have gone to 0.01%, you may want to consider moving those balances to FCASH. Currently FCASH is likewise paying 0.01%. I moved our balances a few weeks ago once it became clear what was taking place. Unlike the money funds, FCASH will not "break the buck", and I do not believe it can go to negative yields. I suppose should the situation arise, they could go to 0.00% (as Fidelity is not required to pay interest on FCASH) and begin charging some sort of fee. However, at this time, I believe that there is less risk than in the other money funds which do not guarantee against potential losses.
Ally just lowered their online banking percentage rate from 1.5% to 1.25% effective today.
Mike
I am trying to lock in at Ally's no penalty CD before they lower the rate. I have money in two MM accounts at Fido, but it appears I can only move $100k per account at a time. I have to call Fido today to see what the limit is about. I have 10 days total to get the money into the CD.
I had a couple of CD's maturing this month so I just opened up a 1 YR CD at Marcus Bank for 1.6%...couldn't find anything higher and I didn't want to lock in the money longer than a year at this point. Hopefully by this time next year, rates will start inching up again.
I just move the sweep balances into FZDXX which is at 0.37%, but of course need 100k to start it but no minimum balance after that.
Alternatively for our accounts without FZDXX, I have been using 1 month brokered CD's at 0.10% instead of the 0.01% cash sweep accounts.