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

[aja8888]

Some Triple A MYGA's - see below

https://www.blueprintincome.com/fix...amBestRating=A%2B%2B&premium=250000&states=FL

Wow, those are great rates. By August after the next two 0.5% FFR increases, these rates may be even higher.

 

[Montecfo]

My message above was a bit garbled. i have moved most of my cash from TMobile Money (1.00 pct) to my existing MM account at CFG Bank (1.17 pct) which has shown some rate leadership ataying higher and rising faster than Ally, Discover, Cap1 etc.

 

[audreyh1]

The no penalty cd should soon rise from .85 percent then.

No penalty CD is now 1% at Ally.

 

[jazz4cash]

Some Triple A MYGA's - see below



https://www.blueprintincome.com/fix...amBestRating=A%2B%2B&premium=250000&states=FL

Ok, thanks. I thought it might be from Blueprint. They have really good transparency. I see some rates headed up as well.

 

[ShokWaveRider]

Some MYGA yields will be reduced shortly.

Interesting, my annuity agent recommended I wait till after the July FED meeting before pulling the trigger as he thought they would increase. No other resource other than his input.

 

[Dtail]

Interesting, my annuity agent recommended I wait till after the July FED meeting before pulling the trigger as he thought they would increase. No other resource other than his input.

Seems to be a mixed bag. It appears the top quality ones could be pulling back a bit, but not the others.

 

[ShokWaveRider]

Seems to be a mixed bag. It appears the top quality ones could be pulling back a bit, but not the others.

Ah OK. However, I am happy with A- and above, as long as one sticks under the Florida Guarantee Association (I called them) Annuity Guarantee of $250k per person per company ($500k Joint).

 

[pb4uski]

Wow, those are great rates. By August after the next two 0.5% FFR increases, these rates may be even higher.

On the first part, they don't look all that attractive to me. Mass Mutual is 3.30%, 3.40% and 3.50% for 3, 4 and 5 year, respectively. 3, 4 and 5 year brokered CDs on Vanguard are 3.10%, 3.15% and 3.30% and are a lot easier to buy or get out of if you need to but 20 bps less.


I'm expecting higher rates from the Fed so I'm staying short with a 3/6/9/12/15/18/24 month ladder for now and wlll lock into higher rates later on.

 

[frank]

did the fed meeting in june not have a rate increase?

 

[pb4uski]

did the fed meeting in june not have a rate increase?

Next FOMC meeting is June 14-15. Expectations are 50 bps in June and 50 bps in July.

 

[Willers]

Yes, I redeemed my DERI, GMRightNotes and Toyota IncomeDriver notes on April 1 when it became apparent that they were all laggards in raising rates and better laternatives were available.

I redeemed my DERI and Toyota IncomeDriver, but GM moved their rate to 1.75% so I left that one. I'm leaving that one for now.

 

[almost there]

I'm expecting higher rates from the Fed so I'm staying short with a 3/6/9/12/15/18/24 month ladder for now and wlll lock into higher rates later on.

Am thinking about doing the same. A new 1 yr / (5) tier ladder at around 2%. 1/3/6/9/12 month.

Have 3/4 of a huge lump in 1 month CD's that matures on the 27th.
And 1/4 just sitting there, in case I decide to do something.

But in the end, I know I need to wait. If I want over 3%. (or 3.3% lately)

My last 5 yr ish (still on going) group average is/was 3.5%.
And would like the same or better.
On another note, waiting for higher rates is costing me $. How much? Don't know. Too much work to find out. LOL LOL

 

[almost there]

Just out CPI "8.6% annual increase in May, following April's 8.3% rise. That marked the biggest jump since late 1981, and took out the prior 41-year high set in the March CPI, which rose 8.5%."

 

[Gotadimple]

Not to be outdone, Live Oak Savings is going to 1.05 percent tomorrow...

That's a big jump. In May they went from .55 to .60 May 1 and .80 May 11. Nice to know another big jump is coming.

- Rita

 

[Gotadimple]

American Express announced a rate increased on its high yield savings from .6% in May to .75% - effective 6/9

 

[kongmen]

"You got me to log into paypal and look up more details. Funds are held at Synchrony Bank via partnership with paypal. However, there are a lot of fees and fine print details, including:

Your cash funds held in balance are FDIC insured if you have:
- Enrolled in Direct Deposit or
- Bought cryptocurrency"


Anyone know if this is the case with Synchrony?

I just opened a savings account with them...1st time with online bank for me.


Thanks for any replies.

 

[audreyh1]

American Express announced a rate increased on its high yield savings from .6% in May to .75% - effective 6/9

Pretty far behind Ally at 0.9%. Think I’ll be transferring some funds back.

 

[audreyh1]

"You got me to log into paypal and look up more details. Funds are held at Synchrony Bank via partnership with paypal. However, there are a lot of fees and fine print details, including:

Your cash funds held in balance are FDIC insured if you have:
- Enrolled in Direct Deposit or
- Bought cryptocurrency"


Anyone know if this is the case with Synchrony?

I just opened a savings account with them...1st time with online bank for me.


Thanks for any replies.

I don’t understand your question. I am using Synchrony bank for savings and occasionally CDs. They are FDIC insured. I’m using them directly, no partnership with any other company. They’ve been fine and I’ve had accounts with them for years.

 

[kongmen]

Sorry, I was attempting to ask a question regarding the information in quotes.


I just wanted to know if Synchrony is FDIC insured without having things like auto deposit.

 

[audreyh1]

Yes.

 

[tulak]

Pretty far behind Ally at 0.9%. Think I’ll be transferring some funds back.

American Express always seems to lag the other banks. I gave up on them a year or two ago. It’s a shame, because they are quick with transfers in and out.

 

[audreyh1]

Well, they increased rates ahead of Ally a month or so ago. Ally has been playing catch-up until now.

 

[Another Reader]

Sorry, I was attempting to ask a question regarding the information in quotes.


I just wanted to know if Synchrony is FDIC insured without having things like auto deposit.

Synchrony is a bank and treats its' depositors the same as other banks. It's primary lending business is retail credit cards. If you deal directly with Synchrony as a depositor, there will be none of these issues.

 

[Turbo29]

I skipped Ally, Discover, and CapitalOne today and purchased 1yr Treasuries at ~2.6%.

 

[Gotadimple]

Well, they increased rates ahead of Ally a month or so ago. Ally has been playing catch-up until now.

True, for Amex. But as noted elsewhere if you were planning leaving $ with a bank in a high yield savings account for a year, you could purchase a 1-year-Treasury Bill for over 2% either direct or through a broker.

All the banks seem to be trailing the Fed with interest rates!

- Rita