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!
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.
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).
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!
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).
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-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.
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.
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).
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).
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.
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.
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
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
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%.
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:
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.
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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