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.
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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
Check out this. https://ibb.co/8XvPfxH
All of those are 12 month terms and MUCH higher rate. The rate offered in this "deal" is crazy that it even makes the "Popular deals" page. A standard savings account earns 3.00% right now at the online banks and Feds are expected to raise interest rates by 100 to 125 basis points (1 to 1.25%) in the next 2 months. This means savings interest rates will raise too. Locking in your money at 3.30% would actually be costing money.
Note that same resource above reflects 2 yr CD's at 4.3%
14 months isn't long term, but if you are looking at investing for 10+ years stocks will probably do better
President Bank 3% checking up to 25K
6 months US T-Bills 3.88% No State tax NO Limit
3 Months US T Bills 3.33% No State Tax NO LIMIT
and go to doctor of credits they have a lot more
https://www.doctorofcre
3,3% for 14 months?
https://tipswatch.com/2022/07/04/...ury-bills/
https://tipswatch.com/2022/09/21/...ctive-now/
I have posted countless tipswatch website on the iBond thread , a lot of good info there
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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
Setting up a CD just for a 0.05% bump may not be worth it. Even mainstream banks like ETrade are paying 2.75% now. At this point, I would just keep my money in one of these savings accounts and wait for the fed to increase their rates again.
President Bank 3% checking up to 25K
6 months US T-Bills 3.88% No State tax NO Limit
3 Months US T Bills 3.33% No State Tax NO LIMIT
and go to doctor of credits they have a lot more
https://www.doctorofcre
3,3% for 14 months?
So in other words T Bills are the only actual higher option. The others have balance limits or aren't no penalty.
Check out this. https://ibb.co/8XvPfxH
All of those are 12 month terms and MUCH higher rate. The rate offered in this "deal" is crazy that it even makes the "Popular deals" page. A standard savings account earns 3.00% right now at the online banks and Feds are expected to raise interest rates by 100 to 125 basis points (1 to 1.25%) in the next 2 months. This means savings interest rates will raise too. Locking in your money at 3.30% would actually be costing money.
Note that same resource above reflects 2 yr CD's at 4.3%
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depending on what you're looking for - non-competitive bid, you can buy directly,