I don't think CIT has anything to do with Citibank.
All fdic insured bank has a 250k protection from the federal government.
You can do this with treasurydirect.gov or a brokerage site like schwab, fidelity, or vanguard etc. They are federally taxed but not state. The latest 4 week t-bill was almost 6%
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Daily and monthly withdrawal limits can be a real problem as well as slow ACH times. The whole point of a savings account is to have it be liquid... otherwise just do CDs. If it takes a year or more to withdraw all your money and they take a week or more for each individual withdrawal to actually process and show up on the other end, that's just time that the bank is sitting on your money making free interest and you not being able to use your money.
There is a massive degree of variability with this one area. I've found Marcus to be amongst the best as far as response times and instantly giving you interest on deposits, but their rates aren't anywhere near as high as some of these other ones.
I've heard good things about ALLY, although i haven't personally tried it. I'm on the fence about CFG, and I won't use UFB.
Most shouldn't have to worry about frequent withdrawals. It's a savings, you shouldn't be frequently withdrawing from it.
Right now most CDs don't offer better rates than HYSA. That hasn't been the case in the past but right now, they're pretty much the same rates.
In my case, I have a dozen or so savings accounts. If I really needed money now and didn't have enough in checking, I'd go with one I knew had quick transfers (like SoFi which is usually less than 24 hours and even faster than my Marcus account has been). But for the larger chunk of savings, I'll keep it in the account with the highest interest rate, which is Primis Bank with 5.10% APY right now.
Great comments all.
I am looking to lock in rates now for a couple of years. few months doesnt do much good for me.
Got a Morgan Stanley 4 year CD,
5% year 1 and 2
5.25% year 3
5.5% year 4
$100k min
AVG= 5.1875% over 4 years
Do you have to buy this directly from Morgan Stanley?
You can do this with treasurydirect.gov or a brokerage site like schwab, fidelity, or vanguard etc. They are federally taxed but not state. The latest 4 week t-bill was almost 6%
There seems to be confusion about getting this rate if you already have an account. In regular consumer banking, only Certificate of Deposit (CD) lock in an interest rate. Rates are updated (not necessarily changed) weekly and if you have an interest earning account that's not a CD, you will earn the rate at which it is that week. So you do not have to take any action if you find that the Platinum Savings rate is now higher. If they happen to start a new savings account with a different name and a different rate, then you will most likely have to open a new account to get that rate.
tldr: if you have a Platinum Savings account with them already you don't need to do anything to get the new interest rate.
Log in to your Schwab account on the Schwab website.
Click on the "Trade" tab in the top navigation menu.
From the dropdown menu, select "Bonds".
In the new page, click on "Treasury Auctions".
You will be presented with a list of upcoming Treasury auctions. Find the T-bill that you want to buy and click on its symbol or name.
Great comments all.
I am looking to lock in rates now for a couple of years. few months doesnt do much good for me.
Got a Morgan Stanley 4 year CD,
5% year 1 and 2
5.25% year 3
5.5% year 4
$100k min
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But yes, it should.
There is a massive degree of variability with this one area. I've found Marcus to be amongst the best as far as response times and instantly giving you interest on deposits, but their rates aren't anywhere near as high as some of these other ones.
I've heard good things about ALLY, although i haven't personally tried it. I'm on the fence about CFG, and I won't use UFB.
Right now most CDs don't offer better rates than HYSA. That hasn't been the case in the past but right now, they're pretty much the same rates.
In my case, I have a dozen or so savings accounts. If I really needed money now and didn't have enough in checking, I'd go with one I knew had quick transfers (like SoFi which is usually less than 24 hours and even faster than my Marcus account has been). But for the larger chunk of savings, I'll keep it in the account with the highest interest rate, which is Primis Bank with 5.10% APY right now.
I am looking to lock in rates now for a couple of years. few months doesnt do much good for me.
Got a Morgan Stanley 4 year CD,
5% year 1 and 2
5.25% year 3
5.5% year 4
$100k min
AVG= 5.1875% over 4 years
Do you have to buy this directly from Morgan Stanley?
tldr: if you have a Platinum Savings account with them already you don't need to do anything to get the new interest rate.
Log in to your Schwab account on the Schwab website.
Click on the "Trade" tab in the top navigation menu.
From the dropdown menu, select "Bonds".
In the new page, click on "Treasury Auctions".
You will be presented with a list of upcoming Treasury auctions. Find the T-bill that you want to buy and click on its symbol or name.
Sign up for a Slickdeals account to remove this ad.
I am looking to lock in rates now for a couple of years. few months doesnt do much good for me.
Got a Morgan Stanley 4 year CD,
5% year 1 and 2
5.25% year 3
5.5% year 4
$100k min
AVG= 5.1875% over 4 years
Did they give you 5.15% ? I was just notified last week they went up to 5.10% Wonder if their customer selecting?
https://www.newtekbank.
what to do after 3 months to keep it going?
Can you give me a quick help how do I calculate return on this quote. Let's say I invest 1k
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-dad with new baby with no time, thanks!
Try this: https://youtu.be/rFuiC-UNeMc