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Thread: 5% APY on CD's

  1. #1

    Default 5% APY on CD's

    I have gotten offers for 5% on a CD through Synchrony Bank. I was going to jump on it until I heard Glenn Beck talk about how the TBTF banks would run these rates and cause runs on the smaller banks as customers fled to chase rates causing smaller banks and credit unions to suffer deposit losses that could threaten their solvency. Once the big banks got your money in they could offer a higher rate if you would just allow them to convert the NEW United States Digital Dollar the help prevent criminal activity.... You want higher interest and protect against criminal activity, don't ya?

    I have to say I am tempted, but I also don't want to hurt my credit unions.
    Now there's no more oak oppression
    They passed a noble law
    Now the trees are all kept equal
    By hatchet, axe and saw.

    I will not comply.

    The Tea Party... quietly plotting to take over the world,
    and leave you the hell alone!

  2. #2

    Default

    I think I'll keep my money in a NTBTF credit union
    Now there's no more oak oppression
    They passed a noble law
    Now the trees are all kept equal
    By hatchet, axe and saw.

    I will not comply.

    The Tea Party... quietly plotting to take over the world,
    and leave you the hell alone!

  3. #3

    Default

    I jumped on the Synchrony CD. I'll let you know if I get hooked into the CBDC.

  4. #4

    Default

    Quote Originally Posted by BodieGhost View Post
    I jumped on the Synchrony CD. I'll let you know if I get hooked into the CBDC.
    You'll know it if it happens. I'm sure it will be well publicized.
    Now there's no more oak oppression
    They passed a noble law
    Now the trees are all kept equal
    By hatchet, axe and saw.

    I will not comply.

    The Tea Party... quietly plotting to take over the world,
    and leave you the hell alone!

  5. #5

    Default

    One year non-callable bank CD's were in the 5.1% to 5.2% range today. One year Treasuries are 5.37%
    American Legion Preamble: https://www.legion.org/preamble

  6. #6

    Default

    It's possible that I'll store my funds at an NTBTF credit union.

  7. #7

    Default

    CU are fine, I rolled a couple 10k blocks in at 4.25%, @13 months hoping by next March I can roll them again.

  8. #8

    Default

    Quote Originally Posted by everything1 View Post
    CU are fine, I rolled a couple 10k blocks in at 4.25%, @13 months hoping by next March I can roll them again.
    You can also try breaking your CD's up into a 6mt, a 1 year and a 2 year. That way every 6 months one of them can be rolled over at the new rate either up or down as the case may be. It appears that the Fed (Powell) is talking about at least 3 more boosts in the Fed rate. That's a change from 2 increases that they've been saying for some time.
    American Legion Preamble: https://www.legion.org/preamble

  9. #9

    Default

    Quote Originally Posted by LongDonSilver View Post
    You can also try breaking your CD's up into a 6mt, a 1 year and a 2 year. That way every 6 months one of them can be rolled over at the new rate either up or down as the case may be. It appears that the Fed (Powell) is talking about at least 3 more boosts in the Fed rate. That's a change from 2 increases that they've been saying for some time.
    At this point, all my CD's are under 12 months because the difference in interest rate was 4.5% as opposed to 2.5% for a longer term. With what I believe will be interest rates heading up for the foreseeable future, I prefer not to lock in at a lower rate than I believe they will be offering six months or a year from now.
    Now there's no more oak oppression
    They passed a noble law
    Now the trees are all kept equal
    By hatchet, axe and saw.

    I will not comply.

    The Tea Party... quietly plotting to take over the world,
    and leave you the hell alone!

  10. #10

    Default

    I still prefer the Charles Schwabb Money Market SWVXX SCHWAB VALUE ADVANTAGE MONEY INV - 7 Day Yield 4.9453%.

    24/48 hour access to all or part of the funds and no early withdrawal penalty.
    I have not found anything better regarding ease of access and interest rates very close to any c d's in marketplace.
    Simple to set up with no minimum $'s necessary.
    jmho.

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