Ken still does not have the new PurePoint NPCD (see my post up thread), and the rollout was a teensy bit rocky.
The wrinkles have been ironed out by PurePoint and it is now possible to open your PurePoint NPCD straightaway using funds in your PurePoint savings!
This is an amazing interest rate for liquid funds. Remember:
Two things matter with no penalty certificates of deposit:
The interest rate (APY) of course. But also
The lock in period. This is less obvious, but it is the FINANCIAL INSTITUTION that is being locked in, NOT us! So the longer the lock in period the better it is for us as insurance against falling rates. Thirteen months is very sweet.
Anyway bottom line, this PurePoint deal is an absolute no-brainer for our liquid funds and I plan to go in heavy.
Today is Sunday so I dunno how long it will take Ken to post this blowout PurePoint deal. Also, earlier this morning somebody threw slime all over Ken’s forum. That annoying mess alone will take him some time to clean up and might divert his attention away from the PurePoint deal for a short while.
Finally, PurePoint still has not notified me officially, via email, about this new deal. They were having website problems yesterday (Saturday) morning which continued into the day. This might be on account of the rollout of this new (for them) product, or it might be because they were being hammered by applicants for this deal . . . . or both. Yesterday was the first day for their NPCD deal.
It’s obvious this PurePoint deal is right in Ally Bank’s grill . . . as relates to their own NPCD at only 2.3%. I just checked over at Ally. They are still at 2.3% and they likely will be slow to react to what PurePoint has done to them. Nobody is gonna remain there at 2.3% now . . . surely nobody who is a PurePoint customer. Ally will need to compete . . . at least that is what one might think. Nobody knows for certain. But keep an eye on Ally. The no-penalty products at Ally and (now) at PurePoint are quite similar . . . . except that PurePoint’s offering is better.