Joined Nov 2018
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3.30% APY No Penalty 14 month CD (Certificate of Deposit) Sallie Mae Bank
October 5, 2022 at
08:35 PM
in
Finance
(7)
Deal Details
Last Edited by zhangzheng October 6, 2022 at 05:55 PM
Savebetter.com has a No penalty CD @ 3.30% APR. You can break this CD anytime after 30 days. With Fed Reserve increasing rates, CDs in the near future will pay better. So lock in 3.3% for now; if you find a better higher earning CD in the future, break it and lock in. Otherwise, you have a minimum of 3.3% APY for 14 months. There's no minimum and FDIC insured to $250,000
For people that want a higher earning CD they also offer a regular 2 YR CD @ 3.8% through a different bank.
https://www.savebetter.
For people that want a higher earning CD they also offer a regular 2 YR CD @ 3.8% through a different bank.
https://www.savebetter.
67 Comments
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people need to shut up about the CDs they suck
buy CDs only if they can beat 1 -2 yr treasury bills at the bare min
this deal cannot even beat the 3 month yield. = 3.29 3.37%
def not the 6 month yield = 3.87 4.00%
1 yr = 3.98 4.16%
2 yr = 100.06 4.22%
5 yr = 100.32 4.05%
10 yr = 91.14 3.84%
30 yr = 85.66 3.81%
note do not touch 30 yr its worthless
best one is likely 6 month as a balance between time and rate hikes.
very likely rate hike to 4.6 and they will realize they need to raise rates more.
dont bother with anything longer than 3-6 months ignore the cds only this worth buying in bonds or cds is inflation bonds and ignore 99% of cds they pay lower than 3 m treasuries
Yeah, I got a deal earlier this week, 25 month CD was 4.3% could've chosen the 24 month CD at 4.4, but it's callable.
T-Bill 8 week 3.230%
-> T-Bill 13 week 3.340%
T-Bill 26week 3.850%
T-Bill 52week 3.955%
Where and how to buy T-Bills ? Can it be done through fidelity ?
Here's what you can get- 3 mo-3.3%, 6mo-3.85%, 9mo- 4.0%, 12mo- 4.1%, 18mo- 4.2%
I prefer Treasury Direct as mentioned earlier. No fees. Set up account one time.
Funds withdrawn from your designated source, such as a checking account.
At maturity date it can be reinvested at the new (higher) rate, or paid automatically back to your funding source in one day. Very simple to use.
I've been laddering 4,8,13 wk all year with spare cash. $100 min I believe. You won't get rich, but it's painless for no-risk spare cash.
-> I live in an income tax state, so get an added advantage vs. banks /CDs.
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Having to hear annuity sales pitches, universal life sales pitches, indexed universal life sales pitches, the newest wizbang 5% loaded fund, target retirement funds with a 1.5% expense ratio plus a trade commission, and whatever else they've cooked up to pick your pocket with the illusion of reward without risk.
I prefer Treasury Direct as mentioned earlier. No fees. Set up account one time.
Funds withdrawn from your designated source, such as a checking account.
At maturity date it can be reinvested at the new (higher) rate, or paid automatically back to your funding source in one day. Very simple to use.
I've been laddering 4,8,13 wk all year with spare cash. $100 min I believe. You won't get rich, but it's painless for no-risk spare cash.
-> I live in an income tax state, so get an added advantage vs. banks /CDs.
@TreasuryDirect: I see the 4-wk bills but only the Auction date / Issue date. WTF is the yield? Is it not there bc all are in the future so you kinda buy hoping for a rate?? that's weird...
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