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Capital One: 11-Month 360 CD Expired
5% APY
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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.
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Edited February 24, 2023
at 12:11 AM
No minimum balance required.
Expires 3/15/23
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Expires 3/15/23
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$20 Off $75+
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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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schwab doesnt seem to have tbills at auction, just secondary market?
Maybe it's easy for me because I already have a brokerage account and have been trading stocks for decades, but I don't get what's so hard about T-Bills. Honestly, it's way more trouble to open a bank account/CD than it is to trade T-Bills if you already have a brokerage account.
i picked the highest apr tbill offered on schwab that matures in 2 months.
apparently i bought a 7yr tbill on the secondary market that matures on 4/30/23.
i think it pays 1.625% interest.
so i think i'm going to make $20 on it?
$20 profit on $10k in 2 months is waaaaaaaay less than the 4.8% apr advertised for it.
soooooo confused!
The XHLF ETF would probably be good for you then. Earn more than a CD, get the tax treatment from treasuries, and don't worry about maturities or picking new investments. With the CD, you've got to check in on that every time it matures.
The XHLF ETF would probably be good for you then. Earn more than a CD, get the tax treatment from treasuries, and don't worry about maturities or picking new investments. With the CD, you've got to check in on that every time it matures.
Watch this: https://www.schwab.com/content/ho...treasuries
had to switch bond type from 'municipal bonds' to 'treasury auctions' to see it
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i picked the highest apr tbill offered on schwab that matures in 2 months.
apparently i bought a 7yr tbill on the secondary market that matures on 4/30/23.
i think it pays 1.625% interest.
so i think i'm going to make $20 on it?
$20 profit on $10k in 2 months is waaaaaaaay less than the 4.8% apr advertised for it.
soooooo confused!
Back of the envelope calculation:
Back of the napkin calculation:
my (bad) calc:
$9950 * 1.625% * .5 = $81
9950 + 81 = 10032 - 10006 = $25 profit
so add $50 to 9950 for $75 profit makes more sense!
thx!!!
Maybe it's easy for me because I already have a brokerage account and have been trading stocks for decades, but I don't get what's so hard about T-Bills. Honestly, it's way more trouble to open a bank account/CD than it is to trade T-Bills if you already have a brokerage account.
Second, after some more reading, research and interactions in the last 24 hours, I've decided to do the t-bill ladder strategy as well BECAUSE of the really good t-bill rates right now. And it looks like the rates/yields are still going up, which is why (I think) it's good to not lock your money for too long just in case better rates/yields come up in the next several months
I still have a lot of "grind" left in me, so I am willing to put in a bit more work to try to maximize my earnings.
Also, I agree that with the right tool/website, buying t-bills is easy. At first I thought it was intimidating too, but education and tutorials made me see the light. But you do need to keep track of when they go live on auction, watch current rates, etc etc. And I also dig that it is not state taxed
Second, after some more reading, research and interactions in the last 24 hours, I've decided to do the t-bill ladder strategy as well BECAUSE of the really good t-bill rates right now. And it looks like the rates/yields are still going up, which is why (I think) it's good to not lock your money for too long just in case better rates/yields come up in the next several months
I still have a lot of "grind" left in me, so I am willing to put in a bit more work to try to maximize my earnings.
Also, I agree that with the right tool/website, buying t-bills is easy. At first I thought it was intimidating too, but education and tutorials made me see the light. But you do need to keep track of when they go live on auction, watch current rates, etc etc. And I also dig that it is not state taxed
Maybe it's easy for me because I already have a brokerage account and have been trading stocks for decades, but I don't get what's so hard about T-Bills. Honestly, it's way more trouble to open a bank account/CD than it is to trade T-Bills if you already have a brokerage account.
I already have a Fidelity account and just went through the exercise of buying a T-Bills on Fidelity to see if it's any easier than TreasuryDirect. I didn't see a 4-, 8, or 13-week T-Bills. I clicked on one with a maturity date of 6/27/2023 to try out. I guess this is a 3-month T-Bill. I clicked on Preview Order and it says "Your order can't be placed at this time. Fidelity does not accept orders for secondary offerings outside of normal trading hours....". It seems so much more work through Fidelity.
I just read a couple of posts about the 4- and 8-week T-Bills not available until Tuesday or Thursday on Fidelity.
My questions:
1) Do I get a better yield if buying T-Bills through Fidelity?
2) Any potential issues if buying from TreasuryDirect?
3) I placed the T-Bills orders from TreasuryDirect last night (Saturday night). The auction date for the 13-week T-Bill is tomorrow (3/6/2023). Do I actually need to do anything on the auction date?
Very much appreciate your help!!
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I already have a Fidelity account and just went through the exercise of buying a T-Bills on Fidelity to see if it's any easier than TreasuryDirect. I didn't see a 4-, 8, or 13-week T-Bills. I clicked on one with a maturity date of 6/27/2023 to try out. I guess this is a 3-month T-Bill. I clicked on Preview Order and it says "Your order can't be placed at this time. Fidelity does not accept orders for secondary offerings outside of normal trading hours....". It seems so much more work through Fidelity.
I just read a couple of posts about the 4- and 8-week T-Bills not available until Tuesday or Thursday on Fidelity.
My questions:
1) Do I get a better yield if buying T-Bills through Fidelity?
2) Any potential issues if buying from TreasuryDirect?
3) I placed the T-Bills orders from TreasuryDirect last night (Saturday night). The auction date for the 13-week T-Bill is tomorrow (3/6/2023). Do I actually need to do anything on the auction date?
Very much appreciate your help!!
You'll get the same yield at auction. I don't know how secondary market treasuries work at TreasuryDirect. I saw something in one of their FAQs that you cannot sell/transfer treasuries for 45 days after buying, which indicates that there's at least some friction there.
2.) Any potential issues if buying from TreasuryDirect?
I don't know why anyone would want to use TreasuryDirect for T-bills. If you've already got a brokerage account, it's way easier to use that. I find TreasuryDirect pretty difficult to use compared to Fidelity, but I've never even tried to do secondary market T-bills on it.
3.) It should automatically handle the auction process for you. You'll see the T-bills added to your account in a day or so after the auction.
EDIT: Removed the XHLF stuff. As someone pointed out, it's really too illiquid to get a reasonable price.