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This thread is only for rates. Please keep all discussion in this thread.

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>>>DOWN

ALLIANT CREDIT UNION

Another .10 APY drop at Alliant. Also eliminated bonus .10 APY for Jumbo level.

Now 3 yr: 1.50% (was 1.60)
Now 4 yr: 1.80% (was 1.90)
Now 5 yr: 1.80% (was 1.90)

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Navy Federal...
2.00% APY custom club... 3 to 60 months.. Ladders possible. $5 min, $5k max across all CDs. deposits allowed anytime. Withdrawl only at maturity (without penalty). Interest can be withdrawn at any time.
3.00% APY 12 mo cert. $50 min, $3k max. Checking and $300 DD required. Reoccuring deposits required until fully funded. Non-reoccuring deposits allowed any time. 90 day early surrender penalty.

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bump

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iGo has changed their terms for early withdraw for new accts and renewals:

Dear Valued CD Customer:

Effective July 10, 2012, our iGObanking.com® CD early withdrawal penalties and renewal rates for new accounts and renewals changed as follows:

Early withdrawal penalties (a penalty may be imposed for withdrawals before maturity)

• If your account has an original maturity greater than five years: The fee we may impose will equal the loss of either all interest earned on the amount withdrawn or half the interest amount that would have been earned on the amount withdrawn during the entire term of the certificate, whichever is greater. Penalty may reduce principle.


I have a 10yr 3.5% cd with them. the early withdraw penalty is only 6months.
even with the 6month penalty, i come out ahead vs any CD out there at the time after 2yrs.

this change is
scary...

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Updated the yields for all CD lengths in the Quick Summary.

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Ally 5-year CD APY up to 1.74%

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Anyone have the calculation handy on what is the break even point for early withdrawal penalty handy for Ally ? Thanks.

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tajar96 said:   Anyone have the calculation handy on what is the break even point for early withdrawal penalty handy for Ally ? Thanks.

I can do better. I've attached a spreadsheet. Found this online about 2 years ago. I also fixed one small mathematical error.

Quick answer: You break even after 2 months (since it is a 2 month interest penalty). After 5 months you are earning over 1% interest AFTER penalty.

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Penfed rates have increased

1.61% APY 4-year CD (was 1.51%)
1.61% APY 3-year CD (was 1.25%)
1.36% APY 2-year CD (was 0.99%)
1.26% APY 1-year CD (was 0.90%)

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I'm having good luck with DCU. Certificate Special-Earn 1.50%**for 8 months.
It took a while to get the account set up and the Reps are nice & very helpful.
I have even opened up new CD's with this rate. If & when they drop the rate a person can just add money to the original CD.

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I thought Pen Fed's 3 year 1.61% was too good to pass up, so I opened a sizable (to me) account. 5 days later, they up it to 1.75%. Not a huge difference, but still disappointed.

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Looks like Penfed increased the rates again:

6 Month 0.75% 0.75%
1-Year 1.238% 1.25%
2-Year 1.583% 1.60%
3-Year 1.829% 1.85%
4-Year 1.830% 1.85%
5-Year 1.879% 1.90%
7-Year 1.980% 2.00%

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cashbackcardsonly said:   I thought Pen Fed's 3 year 1.61% was too good to pass up, so I opened a sizable (to me) account. 5 days later, they up it to 1.75%. Not a huge difference, but still disappointed.

Break it and open a new one!

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It's now up to 1.85%. Is the early withdrawal penalty worth breaking it?

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NOTE TO MODERATORS...

The rates in the Quick Summary are all wrong and appear to be taken from July 2012.

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iLoveTahoe said:   NOTE TO MODERATORS...

The rates in the Quick Summary are all wrong and appear to be taken from July 2012.


I may have clicked a wrong button when I tried to undo what the spammer did. I could not see what I did because it had to be approved by the mod. I'm not touching it again.

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It looks like the Penfed product isn't actually a CD, but some kind of money market instrument that has 'government backed insurance' but FDIC is never mentioned.

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PoorJohn said:   It looks like the Penfed product isn't actually a CD, but some kind of money market instrument that has 'government backed insurance' but FDIC is never mentioned.
It's just what they call a CD, no difference. Also they are a Credit Union and Credit Unions don't have FDIC, they have NCUA (National Credit Union Administration) works same way as FDIC

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PoorJohn said:   It looks like the Penfed product isn't actually a CD, but some kind of money market instrument that has 'government backed insurance' but FDIC is never mentioned.

"This credit union is federally insured by the National Credit Union Administration." FDIC is for banks, not credit unions.

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PenFed lowered their rates by .25 across the board.

Updated in Quick Summary.

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iLoveTahoe said:   PenFed lowered their rates by .25 across the board.

Updated in Quick Summary.


Son of a B, i just opened an account to get the CD!!

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I still like Ally Bank with the .9% savings rate.

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Tacoma99 said:   I still like Ally Bank with the .9% savings rate.
And I like turtles but I don't post that in CD thread

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iLoveTahoe said:   PenFed lowered their rates by .25 across the board.Wow, Penfed did it again just one month later.

New drops of .25, except for the 2 and 3 yr. CDs, which dropped .36 and .40 respectively.

Updated in Quick Summary.

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Another month, another .25 PenFed rate drop!

Also drops at Melrose (.10) and Discover (.05)

Updated Quick Summary.

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any investment instrument which can give @ 8 to 10% return besides equities ?

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vvp22 said:   any investment instrument which can give @ 8 to 10% return besides equities ?

Not safely (lol)

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any feedback on ge capital? I am thinking on 1 yr cd. reviews of this financial institution in general are not that great but it is more for credit cards/loan etc.


http://reviews.gethuman.com/customer-reviews/GE-Capital-Retail-B...

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P1FCU five year CD: 2.75% APY

This thread is for rates only.

For discussion of this deal, please go here:

Link to discussion of 2.75% five year CD deal

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you got to work, live in one of the county that the credit union operates

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usalliance credit union has 1.01% for 11 months, and 1.31% for 13 months

Credit to depositaccounts.com
Just in time for those hot summer days, two really cool CD offers.

11-Month
1.01%APY*

13-Month
1.31%APY*

New Money Only**/eStatements Required
Minimum Deposit: $500
Maximum Deposit: $100,000
Limit of one CD per term per member


US ALLIANCE CD

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Seems we kiilled the USAliance deal before it even got listed for regular members

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Why are the posts missing for the 2% for 2 years USAlliance FCU CD?......is this thing getting moderated to the point of removing posts of legitimate rates.....that were apparently disc. for some reason?

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FatWalker said:   Why are the posts missing for the 2% for 2 years USAlliance FCU CD?......is this thing getting moderated to the point of removing posts of legitimate rates.....that were apparently disc. for some reason?
I don't think any posts were removed? Looks like a poster might have edited it out of his thread as the deal was discontinued though. Also happy that I got in on that deal

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RS4Rings said:   FatWalker said:   Why are the posts missing for the 2% for 2 years USAlliance FCU CD?......is this thing getting moderated to the point of removing posts of legitimate rates.....that were apparently disc. for some reason?
I don't think any posts were removed? Looks like a poster might have edited it out of his thread as the deal was discontinued though. Also happy that I got in on that deal


I removed the 2% info after the deal was dead. No reason to continue to give folks false hopes.

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N $ Dollar Savings Direct: 1 Year CD $1000 minimum 1.05% APY

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Added iGoBanking to the top of the 60 month QS heap: $1k min, 2.05% APY
https://www.igobanking.com/rates.aspx

Terms said: Early withdrawal penalties (a penalty may be imposed for withdrawals before maturity)

If your account has an original maturity of three months to less than one year: The fee we may impose will equal three months simple interest on the amount withdrawn subject to penalty.

If your account has an original maturity between one year and five years: The fee we may impose will equal six months simple interest on the amount withdrawn subject to penalty.

If your account has an original maturity greater than five years: The fee we may impose will equal the loss of either all interest earned on the amount withdrawn or half the interest amount that would have been earned on the amount withdrawn during the entire term of the certificate, whichever is greater. Penalty may reduce principal.

In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty.

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Upfront disclosure - Yes, I know this is not a true cd option but it is somewhat close for a few people. Moreover my browser/the site's security will not allow me to create a new topic. : ( So rather than posting nothing I am posting here and asking for a some slack.


In the Alex Trebek Colonial Penn commercials it states - "If death from non-accidental causes occurs during the first two years of coverage, the beneficiary will receive the premiums paid plus 7% interest compounded annually." https://www.colonialpenn4.com/GuaranteedAcceptance/DetailsPersonalized.aspx?State=FL

The 7% figure might be of some benefit to a few Fatwallet family members with known terminal issues. Then again fees may make this a losing idea.

Maybe there is also an option to move monies from the estate and convert them to a life insurance payment. The thinking being that it might keep creditors at bay. Then again, for all I know, such a payment is not technically a life insurance payout.

Fortunately I do not know anyone with such health issues. Therefore I have not researched this in any detail. Maybe the brain trusts here that have looked at this can comment for the benefit of the few Board members this might help.

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