Best CD, MM Rates & Bank Special Deals Thread 2024 - Please post updates here

[Surewhitey]

We were allowed to early sell some Marcus CD's without penalty and we upgraded them to 3&4 yr CD's at Etrade Morgan Stanley. We typically use Fidelity, but their 5 yr 4.7% ones were reduced to ~4.5%. We decided to go with the 3&4 yr with 4.95 & 4.8%. They will get us an extra $1,300 annually for the next 3-4 years.

I would have gone with the 5 yr at Etrade but they disappeared and then came back after I bought the others. Marcus has really dropped rates on longer term stuff. Probably the beginning of the end with them for us. Surprisingly Etrade is very competitive now.

 

[Car-Guy]

Pickin's are getting slim!

I noticed late last week that there were fewer brokered CD's to pick from at Schwab. But I often see the number of CD's drop late in the week and new ones pop up early the next week. That really didn't happen this week.

While there are still CD's available, there are far fewer to pick from this week than I've seen in recent weeks/months. Also, rates have ticked down just a little. It seems to me like the CD market may be signaling a reversal from the past few years. The ride may be slowing!

 

[MarieIG]

Pickin's are getting slim!

I noticed late last week that there were fewer brokered CD's to pick from at Schwab. But I often see the number of CD's drop late in the week and new ones pop up early the next week. That really didn't happen this week.

While there are still CD's available, there are far fewer to pick from this week than I've seen in recent weeks/months. Also, rates have ticked down just a little. It seems to me like the CD market may be signaling a reversal from the past few years. The ride may be slowing!

I noticed slightly lower rates for my saved search at Vanguard, non-callable, payable monthly (looking at a two year time frame).

 

[Graybeard]

Vanguard new CDs have many that are 5.45% not callable but they mostly are for 2 or 3 months. There are a couple non callable into 2025, most beyond the end of 2024 are callable. If you want 2 or 3+ years they're all callable.

Old Natl Bk Evansville Ind Conditional Puts - Death Of Holder - Restricted States: IA,IL,In,KY,MI,MN,TN,WI, FDIC#3832

03/28/2025 5.400

Ally Bk Sandy Utah Conditional Puts - Death Of Holder, FDIC#57803

03/27/2025 5.350

Fortis Bank/Us Conditional Puts - Death Of Holder, FDIC#34401

01/10/2025 5.350

Harborone Bk Brockton MA Conditional Puts - Death Of Holder - Restricted States: MA,RI,TX, FDIC#59070

01/28/2025 5.350

Bank Of America NA Conditional Puts - Death Of Holder, FDIC#3510

03/27/2025 5.300

 

[Retired2021]

On Charles Schwab, is there a way to figure out the bank rating on their brokered CDs? I can't see it and I've been using https://weissratings.com/, but I can't always find a hit for my searches.

 

[Chuckanut]

On Charles Schwab, is there a way to figure out the bank rating on their brokered CDs? I can't see it and I've been using https://weissratings.com/, but I can't always find a hit for my searches.

If it’s FDIC insured, bank ratings don’t mean much for practical purposes. That may be why brokers don’t bother listing bank ratings.

OTOH, if you’re investing over $250,000 with one bank, which I do not favor, then ratings would be more important.

 

[Chuckanut]

Vanguard new CDs have many that are 5.45% not callable but they mostly are for 2 or 3 months. There are a couple non callable into 2025, most beyond the end of 2024 are callable. If you want 2 or 3+ years they're all callable.

Old Natl Bk Evansville Ind Conditional Puts - Death Of Holder - Restricted States: IA,IL,In,KY,MI,MN,TN,WI, FDIC#3832

03/28/2025 5.400

Ally Bk Sandy Utah Conditional Puts - Death Of Holder, FDIC#57803

03/27/2025 5.350

Fortis Bank/Us Conditional Puts - Death Of Holder, FDIC#34401

01/10/2025 5.350

Harborone Bk Brockton MA Conditional Puts - Death Of Holder - Restricted States: MA,RI,TX, FDIC#59070

01/28/2025 5.350

Bank Of America NA Conditional Puts - Death Of Holder, FDIC#3510

03/27/2025 5.300

Fidelity has a few one year call protected CDs at 5%. That’s as close as I’ve found this week. A few weeks ago two year 5+% CDs call protected were easy to find.

 

[Car-Guy]

On Charles Schwab, is there a way to figure out the bank rating on their brokered CDs?

Not that I've noticed but I just use Star Ratings | BauerFinancial

 

[Healthy Lifestyle]

I always felt better buying CDs from large well known finance companies.

However, are Any banks that are offering FDIC insurance on CDs safe to buy?

 

[Drake3287]

"However, are Any banks that are offering FDIC insurance on CDs safe to buy?"

Pretty much every single one of them. I had $100k in First Republic when they were shut down last year and I never lost a penny of interest let alone principle.

 

[copyright1997reloaded]

I always felt better buying CDs from large well known finance companies.

However, are Any banks that are offering FDIC insurance on CDs safe to buy?

I pay absolutely no attention to the quality of the lender of any of the CD's I buy at Fidelity.
Why? If the government (and us the people) are foolish enough to offer FDIC insurance that fully covers me and removes the risk, why not? Don't blame the player, blame the game.

 

[Healthy Lifestyle]

Thanks for the reassurance, but why interest rates vary on FDIC one year CD’s from various sources?

 

[copyright1997reloaded]

Thanks for the reassurance, but why interest rates vary on FDIC one year CD’s from various sources?

Some are monthly, some semi-annual, some annual or at maturity. Some people want to stick to mega banks. Some have on death provisions. Some don't worry as much about quickly selling out. Some are better if one is close to FDIC limit. Most importantly, it is a market of buyers and sellers, similar to stocks. I can at this very second look at the order book for Apple and find a variety of bids and offers.
ETA: There is a risk in that FDIC insurance fund runs out and the US Government (treasury, congress) doesn't do further backstop. There is a risk that while your principal is paid, interest won't be. And so on.

 

[Healthy Lifestyle]

Just buy the highest interest rate for a given term that is FDIC from any financial company/bank?

 

[Jerry1]

Just buy the highest interest rate for a given term that is FDIC from any financial company/bank?

Pretty much but, I buy the highest interest rate for a non callable CD.