Synchrony Certificate of Deposit (CD)

HilariousRecess268

Jul 08, 2023 10:52 PM

248 Posts

Joined Jan 2021

HilariousRecess268Jul 08, 2023 10:52 PM

248 Posts

Decent CD rate, but you can do better through Charles Schwab. Their CDs are also FDIC and you can resell them before maturity if needed. They sell CDs from many banks and the CDs stay in your account until maturity when the cash is deposited in your Schwab account. It is handy to have many bank's CDs to choose from if you have a large amount of cash you want to buy CDs. FDIC only insures up to $250K per institution. You can easily split your CD purchases among various banks and still stay below the $250K threshold. It is very convenient and easy.

Current 3 month CD is 5.275% APY.
Current 1 year CD is 5,25% APY
(this is as of 7/8/2023)

And no, I do not work for Charles Schwab. I have just been a customer for the past 30 years. I suspect other brokerages offer similar purchased CD rates.

1

BabyDoll415

Jul 09, 2023 12:38 AM

958 Posts

Joined Jun 2014

BabyDoll415Jul 09, 2023 12:38 AM

958 Posts

Quote from HilariousRecess268

:

Decent CD rate, but you can do better through Charles Schwab. Their CDs are also FDIC and you can resell them before maturity if needed. They sell CDs from many banks and the CDs stay in your account until maturity when the cash is deposited in your Schwab account. It is handy to have many bank's CDs to choose from if you have a large amount of cash you want to buy CDs. FDIC only insures up to $250K per institution. You can easily split your CD purchases among various banks and still stay below the $250K threshold. It is very convenient and easy.

Current 3 month CD is 5.275% APY.
Current 1 year CD is 5,25% APY
(this is as of 7/8/2023)

And no, I do not work for Charles Schwab. I have just been a customer for the past 30 years. I suspect other brokerages offer similar purchased CD rates.

Thanks yes fidelity offers the same

1

HilariousRecess268

Jul 09, 2023 03:42 PM

248 Posts

Joined Jan 2021

HilariousRecess268Jul 09, 2023 03:42 PM

248 Posts

Quote from BabyDoll415

:

Thanks yes fidelity offers the same

Actually, treasury bills are a better deal now compared to CDs. T-Bills are a slightly higher APY and are not subject to state and local taxes. You can buy t-bills through your brokerage or from treasurydirect.com.

3

Tintinet

Jul 10, 2023 04:03 PM

964 Posts

Joined Nov 2010

TintinetJul 10, 2023 04:03 PM

964 Posts

you can also buy T bills (any $ amount) at Public.com. today's yield 5.49% state & local tax free, btw.

1

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