+ augustus Posted December 16, 2023 Share Posted December 16, 2023 (edited) On 12/13/2023 at 5:55 PM, BuffaloKyle said: My online bank has a one year cd for 5.50% and a five year for 3.45% so I'm going to put some in both. Should I put most of it in a five year you think even though the one year rate is so good? No on the 5 year CD. The 5-year Treasury traded today at 3.92% with no state or local taxes. You can buy one easily if you have a brokerage account. Edited December 16, 2023 by augustus Link to comment Share on other sites More sharing options...
BuffaloKyle Posted December 16, 2023 Share Posted December 16, 2023 11 hours ago, augustus said: No on the 5 year CD. The 5-year Treasury traded today at 3.92% with no state or local taxes. You can buy one easily if you have a brokerage account. I'm just using my online bank for the convenience of already having an account with them. I'll just do the one year CD. I'm gonna buy a $10k bond at the end of January as well. Link to comment Share on other sites More sharing options...
BuffaloKyle Posted December 16, 2023 Share Posted December 16, 2023 27 minutes ago, BuffaloKyle said: I'm just using my online bank for the convenience of already having an account with them. I'll just do the one year CD. I'm gonna buy a $10k bond at the end of January as well. Also it's hard to put too much money into a 5 year CD because that's quite a long time to not have access to money. I can put a much higher amount into a 1 year. + augustus and BuzzLiteQueer 2 Link to comment Share on other sites More sharing options...
Cooper Posted December 17, 2023 Author Share Posted December 17, 2023 Not bad: Citibank is offering a 5.50% promotional CD interest rate for 6 months with a deposit of $100,000 or more. Earn 5% with less than 100,000. Link to comment Share on other sites More sharing options...
+ Lucky Posted December 17, 2023 Share Posted December 17, 2023 2 hours ago, Cooper said: Not bad: Citibank is offering a 5.50% promotional CD interest rate for 6 months with a deposit of $100,000. Earn 5% with less than 100,000. Investing less than $1 million is just not worth my time. + augustus, + Vegas_Millennial and Cooper 1 1 1 Link to comment Share on other sites More sharing options...
Cooper Posted January 3 Author Share Posted January 3 Are bank CD rates starting to drop? I have a CD coming due and asked the Citibank agent what the best rate is. He said 5.25% for 7 months. That’s down from 5.50%. Rates at Citibank are announced every Tuesday. Link to comment Share on other sites More sharing options...
Jim_n_NYC Posted January 3 Share Posted January 3 (edited) 1 hour ago, Cooper said: Are bank CD rates starting to drop? I have a CD coming due and asked the Citibank agent what the best rate is. He said 5.25% for 7 months. That’s down from 5.50%. Rates at Citibank are announced every Tuesday. Not sure specifically about bank CDs, but I noticed treasuries have dropped a little bit. I think the market is starting to (rightly or wrongly) price in Fed rate cuts for 2024. Until the Fed actually does do that, I think any current downside will be limited. Since there is a chance we might be at the top of the rate cycle, I went ahead and bought a 2 year CD from Goldmans about a month ago and have extended my 3 month purchases out to 6 month treasury purchases. Interestingly, I have an account at Ivy bank and their Index savings is at 5.696% APY and their regular savings is at 5.3% APY. Of course, these are not local tax free accounts so I'll have to pay a little more taxes on the interest. Edited January 3 by Jim_n_NYC Cooper 1 Link to comment Share on other sites More sharing options...
+ augustus Posted January 3 Share Posted January 3 Synchrony Bank is offering 5.50% on a 15-month CD with no minimum balance. You can open it online. Cooper 1 Link to comment Share on other sites More sharing options...
Jim_n_NYC Posted January 5 Share Posted January 5 Here are the treasury rates listed on Fidelity after the employment report came out this morning. Not sure how they moved since I didn't look at them prior to the report... 1 month: 5.361% 3 month: 5.319% 6 month: 5.16% For those who live in high tax places like NYC, you'd be saving 10% (about) in taxes on this interest (depending on your tax bracket)...so you'd be keeping an extra 0.52ish % out of those 5+% rates...if I did the math correctly. musclestuduws and Cooper 1 1 Link to comment Share on other sites More sharing options...
MikePDNA51 Posted January 11 Share Posted January 11 What are some CD’s I should be investing in for a high return in 6-12 months? Link to comment Share on other sites More sharing options...
+ augustus Posted January 12 Share Posted January 12 (edited) 11 hours ago, MikePDNA51 said: What are some CD’s I should be investing in for a high return in 6-12 months? Check the websites of the local banks near you. You should be able to get at least 5% from one of them for 6-12 months. Edited January 12 by augustus Link to comment Share on other sites More sharing options...
handiacefailure Posted January 13 Share Posted January 13 Alliant Credit Union is 5.4 for a 12 to 18 month + augustus 1 Link to comment Share on other sites More sharing options...
+ augustus Posted January 17 Share Posted January 17 BMO Alto Bank is offering 5.50% for a 1-year CD no minimum and can be opened online. BMO Alto is a fairly large bank. It is a subsidiary of Bank of Montreal and FDIC insured. Cooper 1 Link to comment Share on other sites More sharing options...
Cooper Posted January 23 Author Share Posted January 23 CD rates at Citibank continue to drop. Today’s best rate for 7 a month CD with no minimum is down to 5.01%. That’s down from 5.25% of last week and 5.50% from a month ago. 7-Month APY 5.01% Link to comment Share on other sites More sharing options...
Cooper Posted February 13 Author Share Posted February 13 CD rates are dropping. Will the Feds soon be cutting rates? Today’s CD rate @ Citibank: 9-Month APY 3.75% Apply Now 7-Month APY 4.75% Apply Now 15-Month APY 4.00% Apply Now + augustus 1 Link to comment Share on other sites More sharing options...
Jim_n_NYC Posted February 13 Share Posted February 13 Wow, the spreads are really getting larger. After Cooper's post I went to check a 6 month treasury that executed yesterday and the annual equivalent rate is 5.3%. Wonder if the banks are pricing in the lower rates for their CD's to make sure they don't get squeezed. Cooper 1 Link to comment Share on other sites More sharing options...
BuffaloKyle Posted February 14 Share Posted February 14 You're almost better off now buying an ibond. The rate you'll get is 5.27% for the first six months. You have until the end of April to buy it at that rate. + augustus 1 Link to comment Share on other sites More sharing options...
Jim_n_NYC Posted February 14 Share Posted February 14 6 hours ago, BuffaloKyle said: You're almost better off now buying an ibond. The rate you'll get is 5.27% for the first six months. You have until the end of April to buy it at that rate. If I knew I would keep it five years, I'd be tempted. But we're fully retiring in 2.5 so regular old treasuries are fine with us. + Vegas_Millennial 1 Link to comment Share on other sites More sharing options...
cany10011 Posted February 14 Share Posted February 14 In Toronto, the US GIC is 5.66% for 1 year. Link to comment Share on other sites More sharing options...
TonyDown Posted March 23 Share Posted March 23 On 1/17/2024 at 12:15 PM, augustus said: BMO Alto Bank is offering 5.50% for a 1-year CD no minimum and can be opened online. BMO Alto is a fairly large bank. It is a subsidiary of Bank of Montreal and FDIC insured. I see BMO Alto frequently ranked on the Bankrate.com CD page. I also see a large credit union out of Salt Lake City. While their CD rates are attractive I hesitate doing business without a local branch for face to face support. Am I being too careful? Do others of you have similar concerns? Also, are there other websites besides bankrate.com that are helpful for tracking best CD rates? Link to comment Share on other sites More sharing options...
+ augustus Posted March 25 Share Posted March 25 On 3/23/2024 at 6:09 PM, TonyDown said: I see BMO Alto frequently ranked on the Bankrate.com CD page. I also see a large credit union out of Salt Lake City. While their CD rates are attractive I hesitate doing business without a local branch for face to face support. Am I being too careful? Do others of you have similar concerns? Also, are there other websites besides bankrate.com that are helpful for tracking best CD rates? I've had CD's with out of state banks and credit unions. Never had a problem. Most banks don't or won't send you monthly statements anymore so you should set up online access and check it regularly. I wouldn't set up a checking account or even a savings account with an out of state institution because, like you, I'd rather have the face to face support in case there's a problem like you need to stop payment on a check. TonyDown 1 Link to comment Share on other sites More sharing options...
TonyDown Posted April 13 Share Posted April 13 With this week's financial news regarding inflation, might CD rates tick up next week? MikePDNA51 1 Link to comment Share on other sites More sharing options...
Cooper Posted April 16 Author Share Posted April 16 On 4/13/2024 at 12:43 AM, TonyDown said: With this week's financial news regarding inflation, might CD rates tick up next week? Citibank came out with their new CD rates. No change. Their best rate is still 6 months @ 4.75%. MikePDNA51, Kevin Slater and TonyDown 3 Link to comment Share on other sites More sharing options...
TonyDown Posted April 19 Share Posted April 19 On 4/16/2024 at 4:37 AM, Cooper said: Citibank came out with their new CD rates. No change. Their best rate is still 6 months @ 4.75%. I checked the Vanguard Website. They offer brokered CDs around 5.1%. I had not heard of brokered CDs until now. This seems easier than dealing with all the various banks and their disclosures Vanguard had other fixed income options as well such as municipal and corporate bonds from 5 to 8%. I will do some research before deciding. Sorry I don't mean to advertise for Vanguard. I also checked Schwab. I should take a look at Fidelity also. Cooper and MikePDNA51 2 Link to comment Share on other sites More sharing options...
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