you are correct sir!!
Today’s drops:
Popular Direct Online Savings was 1.01% now 0.75%
Brio Direct High Yield Savings was 0.95% now 0.90%
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No way am I locking $$ at Ally or Marcus. Both have offered those promos for adding extra $$ for 3 months based on 1% of the new value. That dwarfs the interest rate on any bank.
I don’t think he was advocating “locking money”. He was talking about no penalty breakable CDs. Thus, I think he was talking about “locking rates”.
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Honkinggoose is correct, _TJ. CDs with a penalty for withdrawal are off topic on this thread.
NPCD means “No Penalty Certificates of Deposit”. There is no penalty if you want to close your CD at any time after the first several days, and you are paid your accrued interest at time of closing. Hence the funds are liquid. However:
The interest RATE is locked, which is a feature many other liquid accounts do not offer. The locking of the interest rate is attractive at a time like this, as interest rates in general continue to fall.
Has anyone heard of/used Affirm. They seem to pay 1.30% but I can’t find too much information:
https://www.affirm.com/press/releases/affirm-introduces-high-yield-savings-account
They are another one of these third party Fintech banks:
"Affirm savings accounts are held with Cross River Bank, Member FDIC. Affirm loans are made by Cross River Bank, Member FDIC. Affirm Plus financing is provided by Celtic Bank, Member FDIC. "
This is likely a teaser rate to get people in at a lower cost than a bonus would cost, and they’ll follow it up with a significant rate drop.
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Today’s drops:
Nationwide (Axos Bank) My Savings was 1.15% now 1.05%(requires MyChecking account with 1k DD)
Nationwide (Axos Bank) Money Market Plus was 1.00% now 0.90%
Nationwide (Axos Bank) Savings was 1.00% now 0.90%
Barclays Online Savings was 1.00% now 0.80%
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Ouch! Now the 0.90% NPCDs don’t look too bad.
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No dispute. But, again, remember the principal selling point of an NPCD is the rate lock.
It is the CD seller who is locked in. The purchaser has all the options.
Rich people in this realm (liquid money) should not overlook a deal posted up thread (I think) but nevertheless still available:
It is the Customers Bank Ascent MM account.
The deal is only for the rich since you need $25,000 to buy in, and friends that ain’t chicken feed!
Sometimes old deals, when they are not withdrawn or when the rate does not fall, become relatively more attractive as rates elsewhere drop off the proverbial cliff.
Hey @shinobi I thought this one was withdrawn awhile back. Do you have a link?
You and @Honkinggoose both misunderstand. Both Ally and Marcus have historically (two years in a row) offered promotions where they will give you a bonus for bringing new funds to their bank which annualized is 4%+. You only get that teaser bonus on funds that are ABOVE what you had with the bank on the date the promo started. I keep $50-$100 there at those banks at a given time. When they offer a promo, I will bring more funds into their banks, and only then.
Yes, back in June they had dropped the rate to 0.25% as I posted. At some point, they completely eliminated the account and had the page redirect to another savings account they offer that also paid 0.25% at the time. It looks like they brought the account back at a pretty decent rate. Good eye @shinobi!!
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Today’s drops:
Able Banking Money Market was 1.05% now 0.90%
Synchrony Bank High Yield Savings was 1.05% now 0.75%
State Farm Online Money Market was 0.50% now 0.25%
Are we all ready for more drops tomorrow/Saturday? I’m worried Alliant could drop to as low as 0.50%… 
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Yes, 1.25%, but requires $25k & no guarantee how long the rate will last.
Yes, but better than a lot else that is out there. However if I were in the market for a liquid account right now, I’d probably go with Online Savings Account | First Foundation Bank
Yes it is better But again, 1.25% & is there a guarantee?
I’m very glad I picked up TIAA mm 1.40% guaranteed of 1 year.
Yes, I have the TIAA account and some add on CD’s too. It’s slim pickings out there if you don’t already have options!