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Synchrony Bank 2.35% APY on 14 month CD ($2K minimum to open)

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Created 05-18-2018 at 12:58 PM by SUCHaDEAL
in Finance (2)
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17 Comments

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HIDDEN
05-18-2018 at 01:18 PM
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#3
Quote from CSoto78
:
WOW 40 full dollars!
That's a minimum $2k deposit, not maximum. At any rate, based off of nerdwallet, this is the highest rate for all CDs up to a 4-year term. Considering this is only a 14-month term, I'd consider the OP's post to be a good one!
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#4
Quote from CSoto78
:
WOW 40 full dollars!
It's more than$40 after compounding it at 2.35%
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#5
Quote from CSoto78
:
WOW 40 full dollars!
deposit $500,000 and you'll have enough to buy the iPhone X.
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#6
Quote from fwongsjsu
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It's more than$40 after compounding it at 2.35%
Correct. It's $43.
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#7
Quote from FrozenBeer
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deposit $500,000 and you'll have enough to buy the iPhone X.
.....
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#8
We at slickdeals compare tissue prices to the 1000th of a cent.. So let's not discuss the profit amount... This is a good deals considering typically its 1% and max 2%
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#9
I have parked my cash at Synchrony
for a while now, and service is fine.
As good a rate as anywhere that I can find..
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Last edited by MrHalliday May 18, 2018 at 06:32 PM.
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#10
Quote from An_Deals_Master
:
We at slickdeals compare tissue prices to the 1000th of a cent.. So let's not discuss the profit amount... This is a good deals considering typically its 1% and max 2%
haha, so true.
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#11
Buy treasury notes 6 months @ 2.09% APR.
pay no state taxes on gaina for those in high tax states.

backed by US government and shorter period.
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#12
Quote from LeviathanUltima
:
Buy treasury notes 6 months @ 2.09% APR.
pay no state taxes on gaina for those in high tax states.

backed by US government and shorter period.
Excellent point. For eg., with marginal tax rate for most ppl at 9.3% in CA, you get to multiply that rate by 1.093, so the effective rate for that 6mo TBill is 2.28% APY; It's actually 2.09%APY, not APR.

And, in just about 3-4 mos, these Bank CDs rates are bound to be underwater for the remainder of their term. Though this is the highest APY offer currently out there, it's still not a SD - the bankers know this and that's why they're even throwing it.
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#13
Quote from LeviathanUltima
:
Buy treasury notes 6 months @ 2.09% APR.
pay no state taxes on gaina for those in high tax states.

backed by US government and shorter period.
can you tell more about this? any links? thanks in advance.
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#14
Quote from universeonsale
:
Excellent point. For eg., with marginal tax rate for most ppl at 9.3% in CA, you get to multiply that rate by 1.093, so the effective rate for that 6mo TBill is 2.28% APY; It's actually 2.09%APY, not APR.

And, in just about 3-4 mos, these Bank CDs rates are bound to be underwater for the remainder of their term. Though this is the highest APY offer currently out there, it's still not a SD - the bankers know this and that's why they're even throwing it.
I'd like to learn more too
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#15
Quote from universeonsale
:
Excellent point. For eg., with marginal tax rate for most ppl at 9.3% in CA, you get to multiply that rate by 1.093, so the effective rate for that 6mo TBill is 2.28% APY; It's actually 2.09%APY, not APR.

And, in just about 3-4 mos, these Bank CDs rates are bound to be underwater for the remainder of their term. Though this is the highest APY offer currently out there, it's still not a SD - the bankers know this and that's why they're even throwing it.
Median household income in CA is $67k, the 9.3% is marginal above 107k (for married couples).

While your sentiment about locking up money in an uprate environment is correct, just want to clarify the reasons. Fed is probably going to hike ST rates 2-3 more times this year alone, meaning that ST treasury rates will increase. It'll make these CD rates less attractive. I wouldn't call that underwater - just below market rate.

As others have mentioned, the play might be to buy short treasuries and roll them. 4 week bills look really appealing right now.
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