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Following iLoveTahoe's lead, just updated the 60-month CD section of the Quick Summary. Still a few 3% APYs out there - but for how much longer?

[edited to add:] Went ahead and updated all 4-10 year CDs. Right now, the 3.75% APY 7-yr CD at PenFed really stands out.

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getting a bit over 1 at ING electric

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Penfed renewal of maturing CDs promo offer available January 2011
5 year 3.5 APY
7 Year 4.25 APY
10 Year 5.0 APY

Itsagame

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Anybody using Chevron FCU? They have some decent rates.
Chevron FCU CD Rates

Min $500, more $ gets slightly better APY.
2.80% 5 year
2.30% 4 year
2.05% 3 year
1.70% 2 year
1.30% 1 year

Anybody can join through non-profit orgs.

Edit: should add that I meant "decent rates" only when compared to other offerings on the main list. Still hard to get excited about sub-3.00% yields.

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Did some more updating to the quick summary... As of September 3rd, all of the top few performers are now CURRENT in every CD category between 1 and 10 years.

Thanks to PTLove for his/her considerable contribution!


EDIT: Now current as of September 10th.

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Danversbank 36 month now 2.00% from 2.50% and 30 month 1.50% from 2.00% Updated QS

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So I saw this this morning, http://finance.yahoo.com/banking-budgeting/article/110946/worst-credit-card?mod=bb-creditcards, discussing secured credit cards. At the bottom it mentions a Citi secured credit card that is secured by a deposit into an 18 month CD that earns 4.07%. Even with a $29/yr fee, that's a great rate.

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Need to dust off the old calculation cap ($5000*.04*1.5 - $58)/(5000*1.5) = 3.2%

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TheKa said: So I saw this this morning, http://finance.yahoo.com/banking-budgeting/article/110946/worst-... discussing secured credit cards. At the bottom it mentions a Citi secured credit card that is secured by a deposit into an 18 month CD that earns 4.07%. Even with a $29/yr fee, that's a great rate.It's been listed in the quick summary for at least half a year (I updated it on 9/27).

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Did another mass update to the Quick Summary on 10/10/10.

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ING actually RAISED their CD rates!!

6 Month 1.00%
9 Month 1.00%
12 Month 1.25%
18 Month 1.25%
24 Month 1.35%
30 Month 1.35%
36 Month 1.50%
48 Month 1.50%
60 Month 1.50%

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Ally 5 year CD down to 2.49% APY

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For the people posting rate changes... thanks for the updates, but it's a LOT more helpful if you also make the corresponding changes in the Quick Summary... thanks!

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Alliant Credit Union lowered all their rates today...

3, 4 & 5 yr...... down 0.25
24 & 30 month.... down 0.20
12 & 18 month.... down 0.10

The Quick Summary had already been updated by FW member Armus... thanks Armus!

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Nice bump from igobanking, 24 month up to 2.25% from 1.75%. Updated QS

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Is doing a 5 year 2.5 APY CD with early withdrawal penalty of 6 months a good idea compared to 1 year with lower apr?.

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Funny that you just asked about the early withdrawl, because that's what I was just coming here to post about. Do we want some way to indicate in this thread that a longer term CD is a good value even if you close it early? Myself, I just invested in the 7 year penfed CD. The early closure penalty on this CD is 365 days of interest. By my calculations, that makes this CD effectively:

18 months @ 1.15%
2 years @ 1.73%
30 months @ 2.08%
3 years @ 2.31%
4 years @ 2.61%
5 years @ 2.78%
6 years @ 2.90%

That makes this CD better than any of the options for 2.5, 3, 4 or 6 years, and makes it the 2nd best option for 5 years (and 6th best for 2 years).

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Sounds about right for the early withdrawal from penfed CDs. That's why I reserved the 10-yr CDs at 5% a couple of months back. After 1 yr interest penalty for breaking the CD early, it was looking like this:

1.5 yr: 1.6%
2 yr: 2.47%
3 yr: 3.31%
4 yr: 3.73%
5 yr: 3.98%
6 yr: 4.15%
7 yr: 4.27%
8 yr: 4.36%
9 yr: 4.43%
10 yr: 5%

1-yr interest penalty sounds pretty stiff but breaking the CD after 2-10 yrs, even after penalty, was still yielding just about the best available rates compared to shorter term CDs.

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PenFed 7-year is down to 3.25% since this morning, but bond yields are rising today. I am hoping for some great rates in January when I make my Roth IRA contribution.

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Just got an email from Penfed giving a 0.25% bonus if you rollover a maturing 5 or 7yr CD.

Puts the rollover rates at 3.0% for 5yr and 3.5% for 7yr.

I guess they didn't get all the money they wanted from the recent bonuses a few months ago.

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Delta Community Credit Union's 5 year CD is 2.50% now and the penalty for early withdrawal is just 90 days.

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Justice FCU (www.jfcu.org) has a 45 days CD for 7.5% interest, $500 minimum $25K maximum. JFCU is supposedly for law enforcements and DOJ people, but also covers contractors, families, etc... This is a anniversary special rate for new money only and not sure when it ends (so the sooner the better).

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It's actually 75 day. For their 75th anniversary.


ck90211 said:   Justice FCU (www.jfcu.org) has a 45 days CD for 7.5% interest, $500 minimum $25K maximum. JFCU is supposedly for law enforcements and DOJ people, but also covers contractors, families, etc... This is a anniversary special rate for new money only and not sure when it ends (so the sooner the better).

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thanks for correction. 75 it is.

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Fort Knox FCU:

Regular CDs
60 Month - 2.75 APY
48 Month - 2.55 APY
36 Month - 2.25 APY
30 Month - 2.00 APY

$500 minimum

Jumbo CD ($100,000 or more) Special Rate
Effective 12/18/2010, we will pay an additional 0.15% on specials and regular-rate jumbo CDs.
This may be changed or discontinued at any time.

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New PenFed rates:
Term APY

6-Month 0.75%**

1-Year 1.26%

2-Year 1.50%

3-Year 1.75%

4-Year 2.25%

5-Year 2.50%

7-Year 3.00%

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I know it's easy to forget the focus of a thread when it seems to want to go on forever. So, I wanted to drop in a quick reminder: This thread is for rates only. For further commentary and conversation, we have a dedicated discussion thread. And thanks everyone for keeping this thread up to date.

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Apple Federal Credit Union

https://www.applefcu.org/fom.asp

3.25% APY ON 120 MONTH Certificate (highest I could find as of 01/10/11)

6 Month Certificate 0.50%
12 Month Certificate 0.70%
Jumbo 12 Month Certificate 0.75%
15 Month Certificate 0.70%
24 Month Certificate 1.00%
36 Month Certificate 1.40%
Jumbo 36 Month Certificate 1.45%
36 Month Step-Up Certificate 1.15%
48 Month Certificate 1.70%
60 Month Certificate 2.30%
Jumbo 60 Month Certificate 2.35%
84 Month Certificate 2.60%
120 Month Certificate 3.25%

THE GOOD: can open online, can join the following association as part of the application process:
Northern Virginia Athletic Directors, Administrators, and Coaches Association

THE BAD: penalty for early withdrawal is steep at 1095 days of interest

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sailmaster1955 said:   Apple Federal Credit Union

https://www.applefcu.org/fom.asp

3.25% APY ON 120 MONTH Certificate (highest I could find as of 01/10/11)

6 Month Certificate 0.50%
12 Month Certificate 0.70%
Jumbo 12 Month Certificate 0.75%
15 Month Certificate 0.70%
24 Month Certificate 1.00%
36 Month Certificate 1.40%
Jumbo 36 Month Certificate 1.45%
36 Month Step-Up Certificate 1.15%
48 Month Certificate 1.70%
60 Month Certificate 2.30%
Jumbo 60 Month Certificate 2.35%
84 Month Certificate 2.60%
120 Month Certificate 3.25%

THE GOOD: can open online, can join the following association as part of the application process:
Northern Virginia Athletic Directors, Administrators, and Coaches Association

THE BAD: penalty for early withdrawal is steep at 1095 days of interest


I have a 60-month certificate with them. The early withdrawal penalty for 25-60 month certificates is 180 days. 0-24 months is 90 days, and 61+ months is the 1095 days. The maximum penalty in all cases is earnings-to-date.

BTW, I recently received a notice from Apple that says the Certificate Penalty schedule changes on March 1, to the following. Some of the early-withdrawal penalties stay essentially the same (including for the 60-month), while others get either better or worse:

Term Up to 6 months: Dividends earned up to 90 days
7-60 months: Dividends earned up to 180 days
> 60 months: Dividends earned up to 365 days

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FWIW, penfed rates for Feb are unchanged.

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Updated the Quick Summary with the leading rates for CDs of 3 years and longer.

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www.BankofInternet.com Rates

Term APY Rate
3 to 5 months 0.350% 0.350%
6 to 11 months 0.750% 0.750%
12 to 23 months 1.310% 1.300%
24 to 35 months 1.550% 1.540%
36 to 47 months 1.860% 1.840%
48 to 59 months 2.110% 2.090%
60 month 2.490% 2.460%

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Looks like Cap 1 direct banking 5 yr is back up to 2% (I updated Q/S). Had been meaning to put some money into Presidential at 2.5% but I see they are down to 1.75%.

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Sovereign Bank is currently offering a 5-year CD at 3.00%

Updated Quick Summary.

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Been searching for better rates among the big banks. Best promo CD rates that I've found are with US Bank though they have some odd maturities:

19 Month 1.15% APY
37 Month 1.75% APY
59 Month 2.50% APY

They're not in every state, but you can apply online.

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lambo881 said:   Been searching for better rates among the big banks. Best promo CD rates that I've found are with US Bank though they have some odd maturities:

19 Month 1.15% APY
37 Month 1.75% APY
59 Month 2.50% APY

They're not in every state, but you can apply online.
Check out the Justice Federal CU 2% for less than 100k or 2.1% for greater than 100k, 1 Year CD. LINKY

ETA: scroll to check rates bc my system is giving me problems and I am too lazy.

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FWIW, Penfed CD rates are going down for March
5 yr - 2.25%
7 yr -2.75%

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Updated the yields for all the 5 year CDs.

Possible good news... while most of the yields were unchanged... of those that did change - more went UP than down.

First time I've seen that in a looong time.

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I don't see the new Incredible Bank CDs mentioned here. Saw them at depositaccounts:

1.45% APY 12 month
1.55% APY 18 month

These seem to tie the highest rates for those periods listed in the quick summary.

$10,000 minimum, $90,000 maximum per CD.
Early withdrawal penalty is 6 months of interest

(I just added them to the quick summary.)

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iLoveTahoe said:   Updated the yields for all the 5 year CDs.
Possible good news... while most of the yields were unchanged... of those that did change - more went UP than down.
First time I've seen that in a looong time.
Sovereign bank 5 yr CD is @2.80%. Available nationwide.

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