CD Discussion Thread

Off Topic Post

This concerns a savings account so technically does not belong on this thread.


Anybody else still doing the DCU 6% on savings deal? You put the money in there, just leave it, and collect your 6% interest. I have been doing that for years! So it’s a savings account from which you never withdraw the money even though you may. . . . sort of like a CD in a certain way.

Presenting here another one of “those” accounts . . . . this time at Andrews. Many of us CD folks have an Andrews membership left over from when they were offering attractive CDs. So easy to get this Andrews savings deal if you already have the membership:

It’s an Andrews savings account that pays 5% APY on the first $1000. Yes, a small money deal so you high rollers cannot be bothered and will have no interest. I understand. For me, since I already have an Andrews membership, I just ACH them a thousand bucks, sit back, and collect my 5%. Easy peasy. No worries and no complaints. And if they drop the high rate (DCU never has), or if I need the money, I can get out without penalty any time I want . . . . . sort of like an NPCD.


Regarding the 6% DCU account, do you take the accrued interest out after it goes over $1,000 or will they pay you 6% on that amount to?

Another one is Affinity Credit Union’s Smart Start Savings. It’s 3.5% on up to 5k.


After I messaged Navy Fed they were happy to close my 2.57% special and open a 3.3% one. Opening date moved up to 8/1, the first day of the new rate. They let me keep the few cents of interest I earned in July.


Hi goldendog

What I do at DCU, and what I plan to do at Andrews as well, is that I start with (roughly) $980 in the account and just sit back, do nothing, and watch the interest accumulate until the account grows to just above $1000. At that point I make a withdrawal, via ACH, to take the account balance back to (roughly) $980. This way I do not have to tend to the account every month. There is a tiny loss of interest because I do not have the balance right up to the full $1000 all the time. I can live with that in exchange for the convenience.

With these sorts of accounts, any money in excess of the $1000 earns only paltry interest, so there is no sense in allowing that situation to ensue.

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Excellent catch, zzz. And anyone may join Affinity, too.

Here is a link directly to the Smart Start account itself:

Smart Start linky get 3.5% here

I read that over quickly and find no “gotchas”. If you become aware of one, please post. Seems to me a good deal, though I have not as yet done the deal.

Well I just finished opening my Andrews OSA. The process was a significant PITA. And on top of that, the rate might only be good through October!!

I should do these deals before I post them.

Anyway, Andrews has messed up IT and totally unnecessary security demands. Taken together these things extend a signup process which would be easy peasy anywhere else, in particular for anyone who already is a member.

For example, Andrews wants a copy of the BACK of your driver’s license. They are alone with that wholly unnecessary demand among all the MANY other financial institutions with which I do business.

To open my new account I moved in funds from my Andrews savings. But at the end the account was opened with a zero balance. Probably the hangup was that they require oversight by a human. And any time human beings must become involved in banking, things go sour . . . . or at least they do not proceed quickly. The money will likely be moved in to the new account later today or tomorrow.

But all in all a clumsy, clunky, annoying process. I saw it through. I don’t know why.

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No gotchas on it and super easy to open. I’ve had it for awhile but they recently raised the rate from 2% to 3.5% so more attractive now.

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I am most respectful of your opinion. For me, I’m not already a member and lots of places do not want the likes of me as a member. I am, after all, something of a banking rascal owing to all of my side hustle activity. So I dunno.

But for others, still an excellent catch on your part, zzz. Glad you posted that deal.

Be on notice the July jobs report will be released tomorrow (Friday) morning.

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Brokered CDs seem to have pushed past 3.5% for longer (5 year) terms. I’m looking at TD Ameritrade, but I presume they’re all pretty much the same.


Well, that was prescient. And, for the record, I never saw this coming:

Only by pure, unvarnished, blind squirrel, luck I continue to be short on my CDs. Cause I had no inkling whatsoever of a report like this. To be honest, I was wrongly anticipating “plain vanilla”.

So now everyone is, once again, thinking a 75 basis point hike at the next FOMC meeting. Frankly, in light of events, they should be doing an interim hike. They remain obviously WAY behind the curve!!

And nothing here is suggestive of CD interest rates declining any time soon. This report has rocked people right down to their socks!


I dont think there will be anything suggestive of rate declines, until those declines are practically right on top of us. The situation is just going to suddenly flip, and I’d bet on it happening sooner (within 1 year-ish, give or take) than later. When we hit the rate peak, wherever that may be, those rates are not going to stick around for long.


Be on notice the July CPI announcement will drop on Wednesday, August 10th, at 8:30 AM ET. That is less than one week hence. This is a big one.


Not a great offer but in case someone’s interested, Ally is offering a 13-month Select CD at 2.35% APY.

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1 year treasuries are 3.1%! Why would you want a CD for less (and more state taxes too)?

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Agree. Just posted a CD offer in this thread in case someone’s interested.

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don’t forget about Service Credit Union - 5% on $500 and 3% on $3000.


Long story short the rate will adjust with the Prime Rate, which goes up/down with the FED rate. Is there anything better than this for 12-mo? I doubt we’ll see any decreases within a year.

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CFG Bank offering a 12-month CD at 3.05% APY; $500 min/$250k max deposit.