Ally 11mo No-Penalty CDs now at 3.85% APY.
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Doesnât Ally still have the initial 6 day period at the beginning during which you may not close the NPCD? If so, that may dissuade some who are planning on transferring funds out of Ally after the promo holding period ends on Monday.
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Magnifi Financial has a 7-month Certificate Special at 5.00% APY ($25k min/$250k max deposit) and at least 50% of deposit must be new money. Easy membership requirement ($10 donation to the Magnifi Foundation).
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(just a note on the NFCU 15mo CD special) -
For those who are long term members (25yrs+), they appear to be getting a .25% rate bonus, so 5.25% APY on the CD
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How do you know this? Is 25 yrs the minimum. Would this work if youâve been a member for 12 yrs?
A person on another forum who is a 25+ year member stated that s/he got a .25% bonus. I donât know if the bonus would apply to someone who is a 12 yr member, but it wouldnât hurt to ask a NFCU rep.
Out of curiosity: What is another forum that talks about CD rates at credit unions?
A rep told me thereâs an additional bonus for 50 year members. Bonuses only apply to 25 and 50 year members.
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Out of curiosity: What is another forum that talks about CD rates at credit unions?
depositaccounts, doctorofcredit, bogleheads, slickdeals (finance), early-retirement, etc., etc.,
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For anyone interested, Ally now has a 13-month Select CD at 4.60% APY available thru 2/8/23 with no minimum to open.
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I believe itâs 6 actual days (not business days).
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Turtlebug, which forum was it where a person mentioned they got the .25% Navy bonus. Thanks
Not TB, but commenters at depositaccounts.com mentioned .25 bonus for 25 year members and .50 for 50 year members.
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I believe I saw it on slickdeals finance sectionâŚ
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New issue 5-year brokered CDs are being issued with a rate around 3.75%.
I know there are a couple direct-issue offers near 5% right now, but the market clearly doesnt believe the Fed.
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XCEL Federal Credit Union has an 18 month promo CD at 5.12% APY w/$500 minimum deposit, new money, no stated balance cap.
Also available as a traditional or Roth IRA.
Easy membership requirement by joining Ocean Running Club ($15 fee).
The 18 month promo CD is not listed on XCELâs online application. The CSR stated that existing members can open the CD using XCELâs online banking platform or by calling 973.275.9235. Those joining XCEL must establish their membership and then contact XCEL to open the promo CD.
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New brokered 5-year CD at TD Ameritrade - 3.85% APY.
There are also a handful of new callable CDs being issued in the 4.6-4.8% range, for as long as 12-year terms.
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You would have to be certifiably insane to invest in 12-year callable CDs.
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Iâm not sure I understand 5-year callables, let alone 12 years. I guess thereâs a sweet spot where it works out, but thatâs a long shot. I have looked at secondary market callables that can be bought at a discount, so you keep a good chunk of the APY even if called early. But no one is selling anything remotely attractive.
Are you still expecting more 5% long term offers in the near future? The markets continue to punish anything more than 12-18 months long.
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Like everyone else I am not sure what long-term CDs will be in the next few months. It all depends on if inflation behaves or not. I would say the odds are around 50/50 that long term CD rates will exceed 5%. If the Fed pushes the FFR above 5% (3 more 0.25% increases), it will become increasingly likely.
I donât understand callables at all if they are long-term CDs. To me itâs sort of like heads you lose and tails you lose too. Itâs a no-win proposition.
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