Best CD, MM Rates & Bank Special Deals Thread 2024 - Please post updates here

I recently sold a home, and want to park the money in a CD for a short time (90 - 180 days). I found some decent rates at Edward Jones, at about 5.3%. The only thing I know about EJ is to avoid their FAs like the plague. If I invest in some CDs there, will they start bugging me to managey assets? Or would it be hands off, like most other institutions? Any advice?
 
I recently sold a home, and want to park the money in a CD for a short time (90 - 180 days). I found some decent rates at Edward Jones, at about 5.3%. The only thing I know about EJ is to avoid their FAs like the plague. If I invest in some CDs there, will they start bugging me to managey assets? Or would it be hands off, like most other institutions? Any advice?
You can get 5+% with any good brokerage such as Schwab or Fidelity. Why bother with an outfit that probably will be hounding you.

I have been with Schwab for for over 20 years. Other than inviting me to a nice dinner when they introduced their Robo Advisors, they have never bothered me. The local office is helpful when I do need them.
 
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I bought a 5.3 non-callable Charles Shwab paid annually. I used a compounded interest calculator to determine the difference vs monthly payment. Is there rule of thumb difference? I don't have a comparison coupon rate paid monthly, but curious if the rate offered is to advance of the investment firm? If they rate is less for the monthly paid interest, how much or should I care if I enjoy the 5.30%.
 
I recently sold a home, and want to park the money in a CD for a short time (90 - 180 days). I found some decent rates at Edward Jones, at about 5.3%. The only thing I know about EJ is to avoid their FAs like the plague. If I invest in some CDs there, will they start bugging me to managey assets? Or would it be hands off, like most other institutions? Any advice?
If state taxes are an issue for you you might consider buying a short term T-bill. Very easy through VG or Fidelity or most any brokerage I'd imagine.
 
You can get 5+% with any good brokerage such as Schwab or Fidelity. Why bother with an outfit that probably will be hounding you.

I have been with Schwab for for over 20 years. Other than inviting me to a nice dinner when they introduced their Robo Advisors, they have never bothered me. The local office is helpful when I do need them.
+1 When I set up my accounts at Schwab I made it very clear that I am a DIY investor and wasn't interested in their products or advice... if I had a need then I would let them know. They haven't bothered me at all.
 
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If state taxes are an issue for you you might consider buying a short term T-bill. Very easy through VG or Fidelity or most any brokerage I'd imagine.
They will be now. I've really enjoyed the no income tax aspect of FL. MD won't be as pleasant that way. Thanks for the recommendation.
 
You can get 5+% with any good brokerage such as Schwab or Fidelity. Why bother with an outfit that probably will be hounding you.

I have been with Schwab for for over 20 years. Other than inviting me to a nice dinner when they introduced their Robo Advisors, they have never bothered me. The local office is helpful when I do need them.
I've been with Schwab for over 40 years:) and they just keep getting better IMO. My AE knows I'm a DIY investor and never bothers me. (Except maybe an email once a quarter to see if I'm still alive. :)) If I ever need anything (rare) their customer service help desk is excellent. Oh, and you can get a non callable 1yr CD now at Schwab that's paying 5.4%. If you are into fixed income, get them while they are hot and enjoy the ride.
 
I've been with Schwab for over 40 years:) and they just keep getting better IMO. My AE knows I'm a DIY investor and never bothers me. (Except maybe an email once a quarter to see if I'm still alive. :)) If I ever need anything (rare) their customer service help desk is excellent. Oh, and you can get a non callable 1yr CD now at Schwab that's paying 5.4%. If you are into fixed income, get them while they are hot and enjoy the ride.
A lot of us have recently come over from TDAmeritrade.
 
^^^^^^
I had a TD Ameritrade account too many years ago (well actually I was with TD Waterhouse) but Ameritrade acquired them. IIRC, not long after that acquisition, I consolidated everything to Schwab and dropped the Ameritrade account. I hope Schwab doesn't get so big their services start to suffer.
 
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Current best non-callable brokered CD rates at Schwab (06/03/24):

12 mo - 5.40%
18 mo - 5.20%
24 mo - 5.10%
36 mo - 4.90%
48 mo - 4.80%
60 mo - 4.70%

Best rates on non-callables are up 5 basis points on 24, 48 and 60 month CDs, 10 basis points on 12 month since 5/24.
 
Current best non-callable brokered CD rates at Schwab (06/03/24):

12 mo - 5.40%
18 mo - 5.20%
24 mo - 5.10%
36 mo - 4.90%
48 mo - 4.80%
60 mo - 4.70%

Best rates on non-callables are up 5 basis points on 24, 48 and 60 month CDs, 10 basis points on 12 month since 5/24.
Yes, I just bought a one year non-callable CD from Charles Schwab Bank at 5.4%.
 
Yes, I just bought a one year non-callable CD from Charles Schwab Bank at 5.4%.
This has been fun. Rates holding (or getting better) for longer than I expected. About the time I think I've added the last new rung to my CD ladder, rates push me to more re-buys. Next buying opportunity for me is around July 1st.
 
Local credit union.......5% for 30 months on new money. 5.5% for 9 months on not new money.
 
Current best non-callable brokered CD rates at Schwab (06/03/24):

12 mo - 5.40%
18 mo - 5.20%
24 mo - 5.10%
36 mo - 4.90%
48 mo - 4.80%
60 mo - 4.70%

Best rates on non-callables are up 5 basis points on 24, 48 and 60 month CDs, 10 basis points on 12 month since 5/24.
Always check the secondary market because some deals frequently occur and go quick. For example today I landed a 5.1% YTM 6/1/27 (3 years in essence) non callable from Morgan Stanley.
 
Yes, I just bought a one year non-callable CD from Charles Schwab Bank at 5.4%.
I just bought similar one-year 5.4% Wells Fargo CD. I would have bough the Schwab CD but I already have too much money in Schwab CDs. The timing is good. My previous CDs will be maturing in a few weeks. Rates have held around this level for a whole year.
 
Always check the secondary market because some deals frequently occur and go quick. For example today I landed a 5.1% YTM 6/1/27 (3 years in essence) non callable from Morgan Stanley.
+1

I check it every day. I'll post summaries here 2-3 times a month just to give people who don't like to do that an idea of what's out there.
 
If state taxes are an issue for you you might consider buying a short term T-bill. Very easy through VG or Fidelity or most any brokerage I'd imagine.
I must be missing something. I've never bought T-bills, and looking at the process at Schwab I'm totally confused. I need to buy like $400K in T-bills (assuming I do this). I went to Schwab, chose Trade->Bonds->T-bills->3 Months, and got a list of bonds. I chose the first one (Cusip 912797GL5). It's listed at $98.679. But then I get confused. I know there's a thread on buying bonds, but it's huge, and I don't want to try to read through the whole thing right now. Is there a tutorial for buying bonds somewhere in one of the threads? I thought I'd prefer to buy new releases and keep them to maturity, but it looks like they only come up for sale occasionally. If you buy existing bonds for less than the face price, do you have to pay capital gains once they mature? Or only if you sell them on the secondary market for more than you paid? Any advice/info would be appreciated.
 
I must be missing something. I've never bought T-bills, and looking at the process at Schwab I'm totally confused. I need to buy like $400K in T-bills (assuming I do this). I went to Schwab, chose Trade->Bonds->T-bills->3 Months, and got a list of bonds. I chose the first one (Cusip 912797GL5). It's listed at $98.679. But then I get confused. I know there's a thread on buying bonds, but it's huge, and I don't want to try to read through the whole thing right now. Is there a tutorial for buying bonds somewhere in one of the threads? I thought I'd prefer to buy new releases and keep them to maturity, but it looks like they only come up for sale occasionally. If you buy existing bonds for less than the face price, do you have to pay capital gains once they mature? Or only if you sell them on the secondary market for more than you paid? Any advice/info would be appreciated.
@harley this article tells you how, scroll down for Schwab
How To Buy Treasury Bills & Notes Without Fee at Online Brokers

I buy at auction not on the secondary market at Vanguard, it is very easy. New issues are up for auction all the time see this link https://home.treasury.gov/system/files/221/Tentative-Auction-Schedule.pdf

I never bought on the secondary market so I can't comment on cap gains but I'd guess if you sell for more than you paid cap gains would apply.
 
I must be missing something. I've never bought T-bills, and looking at the process at Schwab I'm totally confused. I need to buy like $400K in T-bills (assuming I do this). I went to Schwab, chose Trade->Bonds->T-bills->3 Months, and got a list of bonds. I chose the first one (Cusip 912797GL5). It's listed at $98.679. But then I get confused. I know there's a thread on buying bonds, but it's huge, and I don't want to try to read through the whole thing right now. Is there a tutorial for buying bonds somewhere in one of the threads? I thought I'd prefer to buy new releases and keep them to maturity, but it looks like they only come up for sale occasionally. If you buy existing bonds for less than the face price, do you have to pay capital gains once they mature? Or only if you sell them on the secondary market for more than you paid? Any advice/info would be appreciated.

I also buy my bonds at auction and not on the secondary market. I taught myself how to do it using YouTube videos. I'm pretty sure it was this video...

How to Buy Treasury Bills on Schwab
 
I keep it simple and only buy at auction - Fidelity brokerage for me. Every Thursday the coming week's auctions are posted for placing bids (more like orders as it's not competitive). Forrest Gump box of chocolates style you don't know what you pay until after the auction, but it will be less than $100, and the secondary market gives some indication. Gotta place your order before auction start on Monday or whatever - I place mine before bed on Sunday. There is a T-bill auction for CUSIP 912797KK2, maturing on 9-12-24, happening on 6-10-24.
Haven't bought or sold on the secondary market, nor at Schwab.
 
I keep it simple and only buy at auction - Fidelity brokerage for me. Every Thursday the coming week's auctions are posted for placing bids (more like orders as it's not competitive). Forrest Gump box of chocolates style you don't know what you pay until after the auction, but it will be less than $100, and the secondary market gives some indication. Gotta place your order before auction start on Monday or whatever - I place mine before bed on Sunday. There is a T-bill auction for CUSIP 912797KK2, maturing on 9-12-24, happening on 6-10-24.
Haven't bought or sold on the secondary market, nor at Schwab.
3 and 6 months (and 52 week once a month) are announced on Thursdays. The 3 and 6 are auctioned on Mondays, the 52-week on Tuesday (again, once a month). The 17-week (4 month) on Tuesdays (auctioned Wednesday), 1 & 2 month (4 and 8 week) on Tuesday and auctioned Thursday.

Regarding Schwab's setup, it is a little confusing Here is one way of getting there: You need to select Trade->Bonds->"Find Bonds & Fixed Income" and then "New Issues" then select "Treasuries" from the drop down. Here is a screen shot of that last step:
1717971780433.png
 
3 and 6 months (and 52 week once a month) are announced on Thursdays. The 3 and 6 are auctioned on Mondays, the 52-week on Tuesday (again, once a month). The 17-week (4 month) on Tuesdays (auctioned Wednesday), 1 & 2 month (4 and 8 week) on Tuesday and auctioned Thursday.

Regarding Schwab's setup, it is a little confusing Here is one way of getting there: You need to select Trade->Bonds->"Find Bonds & Fixed Income" and then "New Issues" then select "Treasuries" from the drop down. Here is a screen shot of that last step:
View attachment 51302
I've noticed the first one on the list, the 3 month bill has a dated date & first settlement date of 03/14/2024 which has already passed. Is this a new issue? Is this something I should be concerned about? My concern is I would normally sell my mutual fund two days before that date so I can fund this.
 
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