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Capital One: 11-Month 360 CD Expired
5% APY
(No Minimum Deposit)
Update: this extremely popular deal is still available.
Capital One is offering a 11-Month 360 Certificate of Deposit at 5% APY with no minimum deposit.
Thanks to Community Member ginger_ale for finding this deal.
Capital One is offering a 11-Month 360 Certificate of Deposit at 5% APY with no minimum deposit.
Thanks to Community Member ginger_ale for finding this deal.
Original Post
Written by
Edited February 24, 2023
at 12:11 AM
No minimum balance required.
Expires 3/15/23
https://www.capitalone.
Full CD Disclosure
https://www.capitalone.
Expires 3/15/23
https://www.capitalone.
Full CD Disclosure
https://www.capitalone.
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When they offer the new 4 week and 8 week and 13 week t-bill (they auction on diff days and diff weeks) go in and buy one of each of them with whatever money you can spare. Let's use 5k for each.
I would buy a 4 week t-bill with NO Rollover for 5k
I would buy an 8 week t-bill with NO Rollover for 5k
I would buy a 13 week t-bill WITH Rollover for 5k
Then after 4 weeks when that first on comes up, buy another 13 week t-bill with the 5k WITH Rollover.
Then after 8 weeks when the second comes up, buy another 13 week t-bill with the 5k WITH Rollover.
Now you will have 3 13 week t-bills rolling every 4 weeks or so and rolling into a new one with the proceeds. This way every 4 weeks you are capturing an increasing rate and not locked into anything longer than 13 weeks. You benefit from the rate hikes, can cash out at any time, and you have state tax shelter from the earned interest.
I can almost guarantee that the above will yield you more net income (taking in tax break) at the end of 11months then the 5% locked CD
just my 2cents
Fidelity Fixed Income Page [fidelity.com]
Follow the above link and scroll down to the row "U.S. Treasury." Choose the duration you want and click on it. You can then click "buy" to start a trade of a specific treasury bill/bond.
Fidelity's Intro to Treasuries [fidelity.com]
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When they offer the new 4 week and 8 week and 13 week t-bill (they auction on diff days and diff weeks) go in and buy one of each of them with whatever money you can spare. Let's use 5k for each.
I would buy a 4 week t-bill with NO Rollover for 5k
I would buy an 8 week t-bill with NO Rollover for 5k
I would buy a 13 week t-bill WITH Rollover for 5k
Then after 4 weeks when that first on comes up, buy another 13 week t-bill with the 5k WITH Rollover.
Then after 8 weeks when the second comes up, buy another 13 week t-bill with the 5k WITH Rollover.
Now you will have 3 13 week t-bills rolling every 4 weeks or so and rolling into a new one with the proceeds. This way every 4 weeks you are capturing an increasing rate and not locked into anything longer than 13 weeks. You benefit from the rate hikes, can cash out at any time, and you have state tax shelter from the earned interest.
I can almost guarantee that the above will yield you more net income (taking in tax break) at the end of 11months then the 5% locked CD
just my 2cents
When they offer the new 4 week and 8 week and 13 week t-bill (they auction on diff days and diff weeks) go in and buy one of each of them with whatever money you can spare. Let's use 5k for each.
I would buy a 4 week t-bill with NO Rollover for 5k
I would buy an 8 week t-bill with NO Rollover for 5k
I would buy a 13 week t-bill WITH Rollover for 5k
Then after 4 weeks when that first on comes up, buy another 13 week t-bill with the 5k WITH Rollover.
Then after 8 weeks when the second comes up, buy another 13 week t-bill with the 5k WITH Rollover.
Now you will have 3 13 week t-bills rolling every 4 weeks or so and rolling into a new one with the proceeds. This way every 4 weeks you are capturing an increasing rate and not locked into anything longer than 13 weeks. You benefit from the rate hikes, can cash out at any time, and you have state tax shelter from the earned interest.
I can almost guarantee that the above will yield you more net income (taking in tax break) at the end of 11months then the 5% locked CD
just my 2cents
With this staggering strategy, does the interest just get rolled back in and compounded?
For those of you that have E*trade does this strategy work in E*trade as well? If not then I may just open up fidelity
For those of you that have E*trade does this strategy work in E*trade as well? If not then I may just open up fidelity
For example. If you buy 1 T-bill face is $1000. But if the rate is like 4.xx% say you purchase that for $985 for 4 weeks. In 4 weeks that t-bill will be worth $1000. It will then roll and buy you one more t-bill for say $985 again. The $15 "discount" will just be left in your cash account. etc etc.
1 Year Treasury Ladder: 4 Rungs
Average APY/YTM 5.06%
For example, a 1 year ladder with 4 rungs would have CD or bond maturities every 3 months. (3 mos. 4.91%/ 6 mos. 5.11%/ 9 mos. 5.08%/ 12 mos.5.14% )
Is this what i want?
edit:
custom ladder 3month/3 rungs
rung1: US Treasury BILL 04/11/2023 (4.75%)
rung 2: US Treasury BILL 04/25/2023 (4.79%)
rung3: US Treasury BILL 06/13/2023 (4.91%)
As each bond or CD matures, you can reinvest the principal in new bonds with the longest term you originally chose for your ladder..
Is this what i want?
I'm on the Ladder Tool page: https://client.schwab.c
How did you set up a 4, 8, and 13 week ladder?
What happens when the 4 week t-bill matures? Can you set it to automatically use that $ to buy a 13 week t-bill?
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Not too bad. I mean, I get that there are other savings accounts with 5.00%, but if you are already in Capital One and don't want to go through moving money to a different bank, this deal is pretty good.
Good question, no idea. If you think the money would be needed that soon, I'd probably avoid a CD anyway.
Not sure if there's compound interest that one can earn for keeping it locked in longer.
For example. If you buy 1 T-bill face is $1000. But if the rate is like 4.xx% say you purchase that for $985 for 4 weeks. In 4 weeks that t-bill will be worth $1000. It will then roll and buy you one more t-bill for say $985 again. The $15 "discount" will just be left in your cash account. etc etc.
another question for you.. if and when i need to withdraw, is it a easy process and any cost or taxes to consider when withdrawing?
Filling Orders. Although we attempt to present on the Bond Center the maximum number of bids and offers, we may block any bid or offer at any time, as well as any dealer, in our sole discretion. The bonds listed on the Bond Center do not represent the entire universe of bonds available for trading nor the complete inventory of bonds or other dealers linked to the Bond Center. The bonds shown on the Search Results page may not be available in quantity or price as a result of simultaneous orders entered by other customers, or for other reasons. We reserve the right to modify, correct or cancel a trade at any time that is the result of a clear and unintentional error. We also reserve the right in our sole discretion to require that your account contain funds in an amount equal to or greater than the purchase amount of your order prior to the trade date. During extreme market conditions, fixed income securities may be "thinly traded" or more illiquid, which tends to increase price volatility and impair your ability to buy or sell within a reasonable period of time without adversely impacting execution price(s). As a self-directed investor, you assume full responsibility for each and every transaction in or for your account and for your own investment strategies and decisions, including with respect to any transaction in fixed income securities.
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