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Edited November 14, 2022
at 12:37 PM
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CIT Bank, our partner, offers the following benefits with their
13-Month Term CD.- No account opening or maintenance fees
- Daily compounding interest to maximize your earning potential
- FDIC insured
- See site for details
Slickdeals may be compensated by CIT Bank
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$920 - ($920 x (25% + 9%)) = $607.2
You can use above example to plug in your real tax bracket percentages to get your own number. It's a bit difficult to show the calculation of interest on here but you can find interest calculator on web.
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rates aren't going much higher from here. If you have money to park that you don't need for a while, best to lock it up.
If anyone is buying treasuries, the next week or two is your best bet given the political theatre that's occurring.
Ibond rate is now 3.8%
To recap for best rates:
1) Buy 10K in iBonds (I'm told you can do 10K electronically and an addiitonal 10K in paper bonds)
2) Money above that 10K into the 22 month cd paying 5%. I have a 4% 4 year cd maturing in 2 days so timing on this info was great.
3) Buy 10k more in January of iBonds.
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The statement "Ally offers 5.0 APY no minimum no obligation Cds you can take your money when you need it without penalty" is not correct. That's all I was pointing out. No biggie.
Thanks for the options. If there's a 5% no penalty one at Ally I'd sure like to see it so I can xfer some cash over there.
Check savebetter.com for no penalty cds.
That's best rate I was able to find for long term CDs. I wish something >5% I can find for 5+ years.
Nasa has 9months at 5.5% or 15 months at 5.3%.
What would be the most ideal? Lock in for 15 months since rates may not be the same in 9 months when it matures? Or rates going to keep going up so on 9 months it won't be a problem to find something better?
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Nasa has 9months at 5.5% or 15 months at 5.3%.
What would be the most ideal? Lock in for 15 months since rates may not be the same in 9 months when it matures? Or rates going to keep going up so on 9 months it won't be a problem to find something better?