CD Discussion Thread

CD Discussion Thread
0

#628

Although Citi does have a similar offering:

https://banking.citi.com/cbol/savings/high-yield-savings/Default.htm?BT_TX=1&ProspectID=9B788E4AE2954001B5C428DBA88AC34E


#629

That deal is only available in states that don’t have citibank branches…Although i do have a small CD with Citibank (which is my local bank here in New York City) and i am getting 2.25% apy for a 6 month CD…But the high yield liquid savings there for me is a no go…

Yeah, i know, it can be a little confusing… CITIBANK vs CIT BANK (not the same thing…lol)
However. CIT BANK does have SAVINGS BUILDER which is 2.45%


#630

I’m waiting for that Special Offer… You are usually in the know!

I have Justice CD’s maturing in April. I have a couple add-on CD’s 3%, I may have to resort to these…


#631

I am on watch for CD opportunities, pattyb53 . . . but am seeing none at this time. In addition, my crystal ball is very clouded.

Am hoping for the best as that appears the only option open right now. :slightly_frowning_face:


#632

Gosh things are slow in the realm of great CD deals!!

Ken’s place feels like a morgue. And this right here is about the same.

Very disheartening.:slightly_frowning_face:

ETA

Q: Yeah, Shin, you’re the one supposed to provide the CD deals. Heck, you started this thread! Ya got nothing at all??

Pretty much. I have not had the nerve to pursue the best CD deal out there. Need to sharpen my can opener on that one.

Q: Which one?

It’s the deal in Bossier City, LA

Q: How is that pronounced?

I did look that up It’s pronounced like

Boh-zhur

Otherwise they know right away you’re an outsider.

Here is the deal . . . once again . . . the 5 year:

Bossier City deal. You have to telephone Bossier City to have a chance.


#633

I’m so happy to see you are out & about again & on the prowl… :wink:

But is this one worthy of a big fight? 5yr 3.5%, I don’t think so.
First, I don’t see anyway to pursue an online application. Maybe someone can help us all out, & give some insight.

I’m still pretty happy with out Grow MM Promo 2.75%. Liquid funds available immediately.


#634

You might not be the best candidate for the Bossier City deal, pattyb53. Only saying that because I remember you were not enthusiastic very nearly two years back when the Bellco CU indexed CD deal appeared. I took from your reaction back then that indexed CDs are not your cup of tea. Which is fine.

But this Bossier City deal is MUCH better than that old Bellco CU deal. Reason is the high rate floor. The rate can go up without bound, but it never can break down below 3.5%!!

The real problem with this deal is finding a way to purchase the CD in the first place. The bank is narrowly regional. Their call center turns away any effort by outsiders to purchase this CD. But word was, several weeks ago, that the branch in Bossier City was willing to sell this CD to us “out of staters”.

I should have telephoned the branch, but I did not. So I know nothing first hand. At first I was working on the Grow deal, but later I became lazy, thinking something else HAD to show up.

But if something else has shown up, I am unaware. :cry:

I still might telephone Bossier City. Just need to summon forth my nerve.:wink:


#635

I might give this one more thought. Indexed CD’s can possibly go up but, has that ever happened for you?

I’ll lay low & wait until you find out more info. And Thanks for the follow-up.


#636

Shinbone, you’re old enough to get away with telling them you once got robbed on the Bossier strip. I don’t care how young they are, they will know where that was. That way you’ve got a “local” connection. :slight_smile:


#637

Oh my goodness . . . YES!! I made out like a bandit with my Bellco CU indexed CD . . . bought circa two years ago. Think about it. Think about where short rates were two years ago and where they are now. My rate is up by that difference, well up now into the threes.

The problem for me at Bellco, though, is that my interest rate can go right back down into the two’s if the Fed cuts interest rates. There is no such downside at Bossier City. You get your 3.5% no matter what! But your rate can go up if the Fed raises rates.

Q: So Shin, are rates headed up or down? What is the Fed going to do going forward?

Don’t ask me, of all people! I have no clue. I do have an opinion which is as uncertain as everyone else’s opinion and not worth even sharing. Right now of course, today, rates seem to be holding steady. The future? Who knows.

Q: So what’s a mother to do?

What I try to do is to protect myself on both sides, both up and down. I use (currently very small) add-on certificates of deposit to protect me on the downside. I would only add money to those if rates fall.

To protect on the upside you would use something like this Bossier City deal . . . if you can even obtain the deal . . . which is in question! For me, currently, I am using my Bellco CU indexed deal, which as I said has worked out.

But with any indexed CD you must pay heed to the floor rate . . the guaranteed rate . . the rate you will receive if interest rates go to hell. That is what is so attractive about the Bossier City deal. It is a CD gift horse beyond question . . . if you can get it.:wink:

ETA

Just an additional thought on the Bossier City deal:

A quick visit to Ken’s website reveals the top two 5 year CDs are currently paying

3.56% APY at Harbor Bank and

3.51% APY at MACU

So the “cost” for the upside offered by Bossier City at 3.5% APY is, at least in my view, very very low!


#638

Pursuant to the above post, and regarding using add-on CDs to protect against possibility of declining interest rates. And of course these accounts would be opened today only for the minimum, as this right now is primarily insurance . . . here are some possibilities:

GTE Financial has a 5 year add-on paying 3.04% APY (no-see edit)

Freedom CU has a 5 year add-on paying 3.25% APY

Navy FCU often makes add-on certificates available.

If you know of a good add-on, please post.

ETA

Darn!!

I just went over to GTE to open one of those 3% add-on certificates and they have LOWERED the interest rate!! It must have happened very recently. Also, the add on amount is very, very limited. So I am forgetting about GTE. Lucky for me I opened my Freedom CU add-on several weeks ago. Whew!


#639

NFCU’s 17-month 3.25% add-on CD is still available.


#640

Thank you, Argyll. I am also seeing now where MACU (Mountain America) offers add-on CDs with $500 needed to open. But however, the accounts are CAPPED at $100K.

Q: Shin, could you have more than one of those MACU certificates, perhaps one at 5 years and another at 3 years . . or whatever?

I dunno. You would have to telephone MACU and make inquiry.

Back to Argyll’s NFCU:

I’m pretty sure NFCU has very generous minimum opening requirements for their add-on certificates. It might be as little as just $50 to get your foot in the door. However, there is also a cap . . . . . I think.


#641

I believe this NFCU deal has a limit of $50K. But, the rate is still good.


#642

Not great news for the savers out of the FOMC meeting … No rate increases in 2019, possibly only 1 in 2020.


#643

Sorry to report Freedom CU has trimmed, they have cut, the interest rate on their “gotta have” five year add-on CD.

I’m pleased to have bought in, for small money only, at the higher rate . . . but I’m not at all happy to see rates falling!


#644

Mountain America Credit Union is cutting all rates tomorrow. See deposit accounts for the new rates.


#645

The Andrews Federal CU 2.86% 8-month CD is not looking too bad these days. I added it to the wiki.


#646

See the MSD FCU CD deal, front and center over on Ken’s blog.


#647

For those who prefer links to things: