No. The term and maturity date are fixed at time of account opening.
Quite. This is true for any add-on CD account. It is an intriguing wrinkle.
Mine, too. Thing is:
Zzz’s deal offers us opportunity to diversify, reducing threat from failure of either individual financial institution.
Incidentally, it is noteworthy that Weiss rates GTE Financial ahead of Bank5Connect for safety.
I just received a welcome message today from Bank5Connect after opening my account on Friday. It reads “You have been registered automatically for our Online Banking system. To access your account(s), go to www.Bank5Connect.com and at the top of the page, you will see an area to enter a username and password. Your username is the first initial of your first name, your last name, and your year of birth (for example, JSmith1980). Your password is your month of birth, a dollar sign, and your two-digit day of birth (for example, January$01). The month is case-sensitive and there are no spaces.” Unfortunately, I have not been able to log on yet using those instructions. I guess I will give it some time, and if it still doesn’t work, then call.
Wow. Amateurs.
NASA FCU upped Share Certificate Specials –
9-month (3.55% APY)
15-month (3.75% APY)
49-month (3.85% APY)
Minimum $10k deposit of new money. Opening deposit must be made between August 1, 2022 and August 31, 2022. No balance cap is specified but
“Credit Union reserves the right to limit deposits into this special Certificate. This limited-time offer is subject to change at any time without notice.”
Just received a callback from EFCU Financial this afternoon. Agent opened the account with the $50 ACH on application. I’m planning funding the 60-month Jumbo CD 4.10%.
The Agent reported that they are swamped with applications. She wanted to know right now which CD I’m interested in. I told her that it would take sometime to ACH the jumbo $$’s to cover the cd.
Hopefully they keep their great opportunity alive until my funds get there. 
The 11 month NPCD from Ally Bank has hit 2% APY.
Nasa FCU just came out with 3.85% 49-month and 3.55% 9-month CD specials. (and 3.75% 15-month, but that doesnt seem as interesting.)
And they put an August 31 deadline on it - indicating they expect rates to continue rising and want people to get locked in now.
Couple of NPCD deals:
Post removed.
Sorry. I’m just not certain this deal is on the level. It might be. Or it might not be. I don’t want to be responsible for anyone encountering trouble or loss.
Acronym alert
NPCD = ??
Got another call this morning from EFCU. Agent wanted to know if funds were on the way for opening that CD. Of course, but takes time. She informed me that they ended the special, except for those who checked the cd box on their application.
Luckily I did. I asked if she could wait until Monday for all the funds to be posted. She said yes. So annoying when something good only last for short days. She did mention that so many applications were from out of state.
Another good deal, down the drain…:
Sorry. I thought by now most participants here were already aware. My bad:
NPCD = No Penalty Certificate of Deposit
NPCD = No Penalty Certificate of Deposit
Tnx. A CD that you can close before the end of its term with no penalty and receive the balance with interest.
Correct.
However, as I mentioned earlier, you do not have that easy withdrawal privilege during the first six or seven (varies) days right after you open the account.
You never should open an NPCD with funds you even might need right away.
Instead I wanted to take a moment to list some important dates which lie just ahead. I believe events on these dates could easily impact fixed income interest rates, including of course CD rates:
September 21st - Announcement following FOMC meeting
November 2nd - Announcement following FOMC meeting
November 8th - Mid term election day
Note the only FOMC meeting in 2022, after the election, is not until mid December.
Will there remain the same anti-inflation energy after the election that we are experiencing now? You must answer that for yourselves.
But if that energy flags, interest rates could fall.
Update regarding the benchmark NFCU (Navy Federal Credit Union) 3.3% APY add-on ($100k max) 33 month CD:
The original rule (one such CD per SS number) has been modified by NFCU:
You now are permitted to open TWO such CDs, one regular and one IRA.
This means you are able to shelter $200,000 total with this product offering, not the $100,000 to which you originally were limited.
The $1000 minimum continues to apply to each account individually, so you will need a total of $2000 to get both accounts launched.
Bump, because hopefully Shinobi has more good info to drop on us!
This is something to think about going forward. Mary Daly is president of the San Francisco Federal Reserve:
Daly doesn’t see the Fed easing interest rate hikes anytime soon. She predicts they’ll continue into at least 2023
ETA
Unrelated note:
Be aware I have edited and removed an NPCD deal I posted several posts back. When something appears too good to be true, it just might not be good.
Not disputing what she is saying but this is the same person who denied we had an inflation problem in 2021 until it was too late. Her credibility on this subject is not all that great.
Very happy, all funds arrived… EFCU opened 60-month 4.10% CD this morning.
Congrats, pattyb53. That’s a really great CD account!!