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

We were allowed to early sell some Marcus CD's without penalty and we upgraded them to 3&4 yr CD's at Etrade Morgan Stanley. We typically use Fidelity, but their 5 yr 4.7% ones were reduced to ~4.5%. We decided to go with the 3&4 yr with 4.95 & 4.8%. They will get us an extra $1,300 annually for the next 3-4 years.

I would have gone with the 5 yr at Etrade but they disappeared and then came back after I bought the others. Marcus has really dropped rates on longer term stuff. Probably the beginning of the end with them for us. Surprisingly Etrade is very competitive now.
 
Pickin's are getting slim!

I noticed late last week that there were fewer brokered CD's to pick from at Schwab. But I often see the number of CD's drop late in the week and new ones pop up early the next week. That really didn't happen this week.

While there are still CD's available, there are far fewer to pick from this week than I've seen in recent weeks/months. Also, rates have ticked down just a little. It seems to me like the CD market may be signaling a reversal from the past few years. The ride may be slowing!
 
Pickin's are getting slim!

I noticed late last week that there were fewer brokered CD's to pick from at Schwab. But I often see the number of CD's drop late in the week and new ones pop up early the next week. That really didn't happen this week.

While there are still CD's available, there are far fewer to pick from this week than I've seen in recent weeks/months. Also, rates have ticked down just a little. It seems to me like the CD market may be signaling a reversal from the past few years. The ride may be slowing!

I noticed slightly lower rates for my saved search at Vanguard, non-callable, payable monthly (looking at a two year time frame).
 
Vanguard new CDs have many that are 5.45% not callable but they mostly are for 2 or 3 months. There are a couple non callable into 2025, most beyond the end of 2024 are callable. If you want 2 or 3+ years they're all callable.


Old Natl Bk Evansville Ind Conditional Puts - Death Of Holder - Restricted States: IA,IL,In,KY,MI,MN,TN,WI, FDIC#3832
03/28/2025
5.400
Ally Bk Sandy Utah Conditional Puts - Death Of Holder, FDIC#57803
03/27/2025
5.350
Fortis Bank/Us Conditional Puts - Death Of Holder, FDIC#34401
01/10/2025
5.350
Harborone Bk Brockton MA Conditional Puts - Death Of Holder - Restricted States: MA,RI,TX, FDIC#59070
01/28/2025
5.350
Bank Of America NA Conditional Puts - Death Of Holder, FDIC#3510
03/27/2025
5.300
 
On Charles Schwab, is there a way to figure out the bank rating on their brokered CDs? I can't see it and I've been using https://weissratings.com/, but I can't always find a hit for my searches.
If it’s FDIC insured, bank ratings don’t mean much for practical purposes. That may be why brokers don’t bother listing bank ratings.

OTOH, if you’re investing over $250,000 with one bank, which I do not favor, then ratings would be more important.
 
Last edited:
Vanguard new CDs have many that are 5.45% not callable but they mostly are for 2 or 3 months. There are a couple non callable into 2025, most beyond the end of 2024 are callable. If you want 2 or 3+ years they're all callable.


Old Natl Bk Evansville Ind Conditional Puts - Death Of Holder - Restricted States: IA,IL,In,KY,MI,MN,TN,WI, FDIC#3832
03/28/2025
5.400
Ally Bk Sandy Utah Conditional Puts - Death Of Holder, FDIC#57803
03/27/2025
5.350
Fortis Bank/Us Conditional Puts - Death Of Holder, FDIC#34401
01/10/2025
5.350
Harborone Bk Brockton MA Conditional Puts - Death Of Holder - Restricted States: MA,RI,TX, FDIC#59070
01/28/2025
5.350
Bank Of America NA Conditional Puts - Death Of Holder, FDIC#3510
03/27/2025
5.300
Fidelity has a few one year call protected CDs at 5%. That’s as close as I’ve found this week. A few weeks ago two year 5+% CDs call protected were easy to find.
 
Last edited:
I always felt better buying CDs from large well known finance companies.

However, are Any banks that are offering FDIC insurance on CDs safe to buy?
 
"However, are Any banks that are offering FDIC insurance on CDs safe to buy?"

Pretty much every single one of them. I had $100k in First Republic when they were shut down last year and I never lost a penny of interest let alone principle.
 
I always felt better buying CDs from large well known finance companies.

However, are Any banks that are offering FDIC insurance on CDs safe to buy?
I pay absolutely no attention to the quality of the lender of any of the CD's I buy at Fidelity.
Why? If the government (and us the people) are foolish enough to offer FDIC insurance that fully covers me and removes the risk, why not? Don't blame the player, blame the game.
 
Thanks for the reassurance, but why interest rates vary on FDIC one year CD’s from various sources?
Some are monthly, some semi-annual, some annual or at maturity. Some people want to stick to mega banks. Some have on death provisions. Some don't worry as much about quickly selling out. Some are better if one is close to FDIC limit. Most importantly, it is a market of buyers and sellers, similar to stocks. I can at this very second look at the order book for Apple and find a variety of bids and offers.
ETA: There is a risk in that FDIC insurance fund runs out and the US Government (treasury, congress) doesn't do further backstop. There is a risk that while your principal is paid, interest won't be. And so on.
 
Just buy the highest interest rate for a given term that is FDIC from any financial company/bank?
I always felt better buying CDs from large well known finance companies.

However, are Any banks that are offering FDIC insurance on CDs safe to buy?
You mentioned ‘finance companies’ a few times. What did you have in mind as an example? I think only banks have FDIC protection.
 
Well it had to happen sooner or later. I have a brokered CD with one of the partnered banking "groups" doing business with "these guys" (see link below). After doing some digging, the bank I have a CD with is a branch (just another location) of the same bank that has the established partnership with "the bankruptcy of Synapse, a 10-year-old fintech firm." The banking group my CD is with seems to be still operating normally and of course it's FDIC insured. Still, it makes me raise an eyebrow.
1719844448779.jpeg

 
Last edited:
I had a Schwab Brokered CD Mature Yesterday, a pretty big $$$ number for us. By the end of the day the principal was deposited back into my account, but not the interest for the last 6 months. Does it normally take a day or 2 before the interest gets deposited also? I called Schwab and they are not much help, they say that they are just the holding company for their clients and have no control over their Brokered CDs. They cannot contact the issuing bank(s) to see what is holding things up.

This has never happened with a Bank or CU CD. Principal and interest have always been available for reinvestment in the morning of the maturity day. So far, I have lost 1 day's interest and stand to lose another waiting for the interest to get deposited so I can reinvest the total amount. This is another negative for Schwab as their sweep account does not make a decent interest rate.

Is Fidelity the same for maturing CDs? I know their sweep account does pay reasonable interest.
 
I had a Schwab Brokered CD Mature Yesterday, a pretty big $$$ number for us. By the end of the day the principal was deposited back into my account, but not the interest for the last 6 months. Does it normally take a day or 2 before the interest gets deposited also? I called Schwab and they are not much help, they say that they are just the holding company for their clients and have no control over their Brokered CDs. They cannot contact the issuing bank(s) to see what is holding things up.

This has never happened with a Bank or CU CD. Principal and interest have always been available for reinvestment in the morning of the maturity day. So far, I have lost 1 day's interest and stand to lose another waiting for the interest to get deposited so I can reinvest the total amount. This is another negative for Schwab as their sweep account does not make a decent interest rate.

Is Fidelity the same for maturing CDs? I know their sweep account does pay reasonable interest.
Yes, it's normal... I've got a bunch of CD's with Schwab. IIRC the principal of a maturing CD is almost always back in my account the day its matures. (if on a business day) OTOH, interest payment are often delayed by one or two days. I had one that matured yesterday too and I got both (P&I) but it's not unusual for interest payments to be delayed a day or two. If it helps, when I see a delay, it usually just one day. I think I had one or two that were two days late.

I was once told by Schwab that they post payments to accounts "shortly" after they receive them throughout the day.
 
Last edited:
My experience has been Schwab always has minimum 1 day delay in interest payments, Fidelity is always same day.
 
Fidelity shows FZDXX has 5.15% higher yield with $100k minimum compared to SPAXX Core Acct. ~4.97%. Is FZDXX the best option or are members settling for SPAXX at this time now?

Like
Report
 
Back
Top Bottom