One nice thing about Advancial is that their best Jumbo rate only requires $50k, not the typical $100k. So if you’re just dabbling, it doesnt require the same commitments as other jumbo rates.
This is what I planned to do too. I have a 5-yr (now about 4 years left) 5% Discover brokered CD at Fidelity which I will sell. I submitted a bid request last week and it came back $102.42.
My Advancial account is not completely set up yet though. I am waiting for it to be converted to a joint account since I opened an individual account (had trouble opening a joint account during application).
I think I read somewhere that Advancial usually only change rates on the 1st of the month so I’m hoping it stays that way.
It’s no guarantee, but their rate page shows the rates as being effective 1/1-1/31.
I’m surprised how long this rate has been available. I wasn’t aware of it until late December, but apparently it’s been around since mid-October. I don’t think there is another nationally available 5 year CD that’s even at 5%, so 5.19%-5.4% is amazing.
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Alliant CU:
12 month 5.40%
18 month 5.30%.
12 month jumbo 5.45%
18 month jumbo 5.35%
NFCU: 12 month 5.20%
Delta CU: 12 month 5.15%
SF Fire CU: 11 month 5.00%
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Global Innovations Bank has a 12-month CD Special at 5.61% APY w/10k minimum opening deposit.
“The 12-month CD Special can only be opened online using CD Valet. The “Open Now” button at CD Valet takes the user to the start of the online application at Global Innovations’ website. The Global Innovations website does not list the 12-month CD Special (or any other CD). While there is an “Apply Now” button on the Global Innovations CDs and IRAs page, it leads to a “Contact Me” form that gathers personal information.” ~ depositaccounts.com
- Surprisingly, there is no ACH (incoming or outgoing) transfer service.
- Funding – Wire ($20 fee) or cashier’s check.
- Maturing Funds* – Wire ($20 fee) or cashier’s check to address on file.
- Grace Period – None. Will automatically renew if you do not contact Global Innovations before maturity date to submit instructions for distribution (wire or cashier’s check).
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Greenwood Credit Union offers a 9-month CD at 5.50% APY w/1k minimum deposit. The only requirement is to “open and maintain a Share Account with a minimum of a $5 balance.” No charitable foundation or association to join.
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Funded a 5yr 5.40% Advancial Jumbo CD today. I submitted a wire request on Fidelity at 9.10am, the wire was sent out at 10 and funds were posted in the Advancial member savings account at 10.20am.
After that I just used the web interface to open the account. As posted earlier by Badlands, you can select the dividend options (reinvest or credit to savings or by check) and maturity options (renew or transfer to savings or by check).
I have CDs and treasuries maturing next month. The proceeds will probably go to Advancial if their rates hold.
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thx for all the info. I am trying top open a new Advancial memberhip. I had the same problem with the back of my drivers license not submitting in the online application, so I had it all sent to me after calling by secure message. How did you (or anyone ) fund the savings to get the membership opened? What is the maximum I can fund with a credit card> Will this be a purchase or cash advance on my credit card?
Cash and check are not realistic options, and the New Account Funding Authorization.pdf does not have an ach trnsfer in.
I funded with a debit card. They do offer credit card funding, up to $5000 I believe. But in the disclosure it says
“Your credit card provider may process the transaction as a cash advance and may charge a fee.”
So I played it safe by not using a credit card.
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I believe the limit is $5k. Discover processed the charge no problem (although I wasnt sure, so I kept it to under $1k). That warning is boilerplate for all banks offering credit card funding; it can happen but is mostly hypothetical.
FYI, after the initial funding, credit card is no longer given as an option for new accounts. It’s a one-off opportunity.
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Ugh I wished I read this thread sooner. I had some money in Ally and moved some of it over to Schwab to look into a brokered CD option, but then changed my mind the next day and moved some to Chase because they have a decent 9 month rate and wanting to try out CPC (which I found out is sort of worthless). Now I see Alliant here with some pretty great rates so will do yet another 6 figure transfer over to them. Now I miss a week of interest waiting for this money to move around and hope that the rates don’t go down by then.
What’s the eligibility to join the Advancial CU? At 5.4%, it’s pretty unbeatable today for this long term.
Join the US Dog Agility Association for free. And you don’t even need to own a dog. You can apply and get membership instantly.
Just type “dog” into the Advancial membership eligibility search box.
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Thanks. I got that membership and in the end, the CU online application never actually asked me for my membership number in the USDAA. Maybe later in the process.
Nope.
Ally 11mo No-Penalty CD decreased again from 4.35% APY to 4.25% APY (now lower than their Savings Account rate, still holding steady at 4.35% APY as of today…)
Ally 12mo CD decreased again from 5.00% APY to 4.90% APY
Ally 9mo CD decreased from 5.15% APY to 4.95% APY
(Ally 6mo CD at 5.05% APY, in case anyone is interested)
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Alliant offers flexible CD maturity durations. I believe Credit Human also offers that too.
Are there any other institution that offers this?
US Senate Federal Credit Union does as well. I recently opened a 47 month CD at the 36 month rate of 5.23%.
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Northern Bank offers a 9-month CD at 5.50% APY with $500 min/$250k max opening deposit. Note, beneficiaries not allowed.
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It appears that, for now, the fed is not signaling any rate cut for the next meeting and we will continue in a holding pattern. I am hoping the Advancial CD rates will hold for another month. 