CD rates on the rise

[SoCalBaseball]

On 9/19/2024 at 12:16 PM, TonyDown said:

My Citibank 4.75% CD matured so I

bought a 4.5% 13 mo. CD this week at my credit union. 

The advisor recommended I also buy 4.25% 9 mo. CD with their minimum deposit that allows additional deposits during the period at that rate.  The additional deposits can be withdrawn without penalty. 

So I moved $$ from my savings over to the 9 mo CD.  Seemed like a decent opportunity to have a chunk of $$ totally liquid at a decent rate, 4.25%.

Citibank CD'S are not competitive currently, IMO 

 

Did you try Fidelity?

[TonyDown]

4 hours ago, SoCalBaseball said:

Did you try Fidelity?

Yes, I did.  Have you?  

[SoCalBaseball]

9 hours ago, TonyDown said:

Yes, I did.  Have you?  

Yes, way better than Citi overral 

[Cooper]

25 minutes ago, SoCalBaseball said:

Yes, way better than Citi overral 

Could you post Fidelity’s interest rates on CD’s. 

[BuffaloKyle]

On 9/18/2024 at 3:26 PM, BuffaloKyle said:

I just bought a 2 year CD today from my bank at a 4.00% rate as it's surely going to go down now. A one year rate was at 4.50% and a 3 - 5 year was all around a 3.45% rate.

They just lowered the rates at the bank I bought my CD from. Now a 1 year is 4.25%, 2 year 3.75%, 3 year 3.10% and a 4 or 5 year 3.00%. Glad I locked in my 4.00% rate for 2 years.

[Frequentflier]

On 9/21/2024 at 5:06 PM, SoCalBaseball said:

Did you try Fidelity?

I've found some decent CD's on Fidelity's New Issue page. The secondary market rarely has anything decent.  I've had good luck on these sites:

CDVALET, Bankrate. Or you can just search "best 6 month cd rate" or "best two year cd rate", etc. 

Some recent success with Lending Club Bank, Bankwell, Barclays. Again, as I think I posted previously, check the bank on the FDIC website to confirm its a covered bank AND the website you are using is legitimate. The FDIC website even provides the official webpage for a covered bank.

I see lots of violatilty but if someone is ok to check everyday until they have bought enough they are getting ahead of further rate decreases. Keeping in mind that we don't know what will happen in the future and certainly with the election so I don't go out more than 24 months and have many laddered shorter than that.

Sorry if everyone knows this but many banks let you decide when you open a CD or even throughout the term what you want done with the interest. Paid electronically to another bank account with that bank or another. Lending Club I think even allows you to make that decision online whereas some ask you to call within a certain number of days of when an interest payment will be made.

[BuffaloKyle]

1 hour ago, Frequentflier said:

Sorry if everyone knows this but many banks let you decide when you open a CD or even throughout the term what you want done with the interest.

I opened my CD with a bank that I already have a high interest savings account with. I didn't know this but I can have the monthly interest added to my CD value to earn more interest on or I can have the monthly interest deposited into my savings account. I can also change my mind back and forth. I'll keep it in the CD but once it gets down to near the maturity date I'll have the interest go into whichever account has the higher interest rate.

[+ augustus]

On 9/22/2024 at 10:24 AM, Cooper said:

Could you post Fidelity’s interest rates on CD’s. 

These are the rates as of Friday, 9/27/24 for the non-callable CD's. at Fidelity.  The callable CD's have slightly higher rates but can be called in by the bank at any time before maturity.  I think most people avoid the callables. 

3 mo   4.55%.   6 mo  4.35%.   9 mo  4.05%.  12 mo  3.90%.  18 mo 3.80%.  24 mo 3.75%.  36 mo 3.65%.  48 mo 3.45%.

60 mo 3.60%.