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

[calmloki]

Devil in the details all - regarding what Ally's paying I believe they start the bonus period at the end of this month: I funded yesterday, so my $500 bonus will be for about a 90 day period, not 75. Worse yet, I pulled it from an account paying 3.25% (thanks AARP and Marcus referral bonus and interest), so it will cost me about $1.37/day in lost interest while waiting for the bonus period at Ally to start. Real happy with that though - I know it is done and Ally has treated us mighty well in the past. And a big chunk of cash is due to take us over insured limits at Marcus and I like the $500 Ally interest not showing in this year's taxes.

 

[COcheesehead]

FZDXX is currently at 3.00%, but must open the account with 100k.

I think the min is $10k for IRAs. I use FZDXX as my core account. You just need to do manual buys.

 

[audreyh1]

I think the min is 10k for IRAs.

Yes, that sounds right.

 

[Chuckanut]

Assuming one does not have a spare 100,000 at the moment, what other MM funds might people recommend at Fidelity?

 

[Dash man]

Unless you know something the rest of us don't, it's for new accounts only, not existing ones. But yes, current Ally customers can still take advantage of it with a new account/money.

No, a new account is not required. Just need to enroll and put new money in.

 

[COcheesehead]

Assuming one does not have a spare 100,000 at the moment, what other MM funds might people recommend at Fidelity?

Go to Fidelity, go to fund research, click on money markets, observe data, decide.

 

[audreyh1]

Assuming one does not have a spare 100,000 at the moment, what other MM funds might people recommend at Fidelity?

Fidelity Government Cash Reserves is a staple as is Fidelity Government Money Market fund.

 

[John Galt III]

Anyone else getting the sense that CD rates have topped out, at 4.5% and the occasional 5%, for 5 and 7 year terms? And will stay at that same level for a year, then slowly drop? I have some dry powder left, but have been frozen in fear for the last two months, watching, and reading opinions everywhere.

 

[Car-Guy]

^^^^^
Just wait until the next Fed meeting (and rate hike) in early Nov. IMO, they will go up again starting a few weeks after that. I expect to see longer term CD's in the 5.5% range (maybe 6) before year end.


I bought 1/2m worth of CD's in the past 4 to 6 weeks with an average 6 month maturity and 4% return. I hope to reinvest at that point at 6%+. Anyway, that's the plan/hope.

 

[jim584672]

I'm seeing some Savings accounts at 3.06% Rate/3.11 APR% at depositaccounts.com.

 

[audreyh1]

Those high yield savings accounts should eventually rise to match the current Fed Funds Rate (3.25%).

 

[erkevin]

Car-Guy: "I bought 1/2m worth of CD's in the past 4 to 6 weeks with an average 6 month maturity and 4% return. I hope to reinvest at that point at 6%+. Anyway, that's the plan/hope."

We are pretty much on the same wave-length; I have purchased just over 1/2m in the past month or so with durations from 3 months to 13 months. I have the same hopes and dreams as you for the CD future!

 

[Chuckanut]

Anyone else getting the sense that CD rates have topped out, at 4.5% and the occasional 5%, for 5 and 7 year terms? And will stay at that same level for a year, then slowly drop? I have some dry powder left, but have been frozen in fear for the last two months, watching, and reading opinions everywhere.

Emphasis added.

No. I think their is a good probability they will go higher, especially in the area of 3-5 years. For now I am keeping my 18 month CD ladders at 18 months. I might go to two years on one ladder as an 'insurance policy' against an unexpected drop in rates. I don't have to catch the top, just not let my CD's sink too far when rates do turn down. No guarantees, of course. YMMV.

 

[aja8888]

Give me 6% CDs for 10 years or 6% treasuries and I am done. Heck, I'll be almost 90 when they mature and that game is almost over.

 

[lordjust]

Emphasis added.

No. I think their is a good probability they will go higher, especially in the area of 3-5 years. For now I am keeping my 18 month CD ladders at 18 months. I might go to two years on one ladder as an 'insurance policy' against an unexpected drop in rates. I don't have to catch the top, just not let my CD's sink too far when rates do turn down. No guarantees, of course. YMMV.

I am holding out for the CD rates of the early 80s ...

 

[Sunset]

I am holding out for the CD rates of the early 80s ...

Hopefully you are buying 4 -> 16 week treasuries while you wait.... as it could be a while.

 

[lordjust]

Hopefully you are buying 4 -> 16 week treasuries while you wait.... as it could be a while.

I was joking.. if we get to those rates... that will be scary.

I am actually buying 1 to 2 year CDs and corp bonds. As well as holding dry powder in MM funds. I plan on buying CDs and GSEs at 6% under 5 years... so hopefully not to much of a wait.

 

[Earl E Retyre]

Anyone else getting the sense that CD rates have topped out, at 4.5% and the occasional 5%, for 5 and 7 year terms? And will stay at that same level for a year, then slowly drop? I have some dry powder left, but have been frozen in fear for the last two months, watching, and reading opinions everywhere.

I wished I knew the answer to this question too. On the one hand, I am thrilled to get 4.5%. On the other hand, my gut says it will go higher after the next anticipated rate hike. I nibbled about $50k @ 4.3% 5 yr non-callable CDs. Then bought about another $50k @ 4.5% 5 yr non-callable. I will buy a higher amount when the rates hit 4.75%. Once the rate hits 5%, I will again invest even more. If the rates ever get to 6%, I will cancel all existing CDs I own (even ones with a 1 year penalty) and lock all my fixed income in @ 6% for 5 years. I am just hoping I am not being greedy by slowly wading in the water. I do believe eventually inflation will come under control and rates will decrease again and do not want to miss out on locking in at 4.5% or higher for the next 5 years. These are my thoughts and current plan for now anyways. I guess we will see what happens.

 

[daver]

Give me 6% CDs for 10 years or 6% treasuries and I am done. Heck, I'll be almost 90 when they mature and that game is almost over.

Extra innings maybe..

 

[aja8888]

Extra innings maybe..

Yes, that would be good.

 

[Car-Guy]

Yes, that would be good.

Be careful what you wish for... Personally I'll take 9 or 10 good/great innings rather than going for a few more that really suck. As long as I'm able to "play and reasonably enjoy the game" I'm okay, but when the game is over, (I'm benched) it's over. But that's me...

 

[Freedom56]

Give me 6% CDs for 10 years or 6% treasuries and I am done. Heck, I'll be almost 90 when they mature and that game is almost over.

If treasuries hit 6%, you would be looking at an S&P 500 below 1500. Right now the new corporate rates issues from very strong banks are coming out at 6% for 5 years which is .5% higher than the secondary market.

 

[aja8888]

If treasuries hit 6%, you would be looking at an S&P 500 below 1500. Right now the new corporate rates issues from very strong banks are coming out at 6% for 5 years which is .5% higher than the secondary market.

You can bet that I am keeping an eye on what's happening!

 

[aja8888]

Be careful what you wish for... Personally I'll take 9 or 10 good/great innings rather than going for a few more that really suck. As long as I'm able to "play and reasonably enjoy the game" I'm okay, but when the game is over, (I'm benched) it's over. But that's me...

Yeah, I have been lucky with great health and flexibility to date. And I have lost a couple of close friends recently at 85 - 86 years old. 10 more good ones would be great.

 

[erkevin]

Marcus (Goldman Sachs) savings up to 2.35%