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11-03-2022 11:09 AM
@gidgetgh wrote:I got an email from one of my banks this afternoon. They're doing a 13 month cd special, with an interest rate of 3.75% APY.
i haven't seen rates like that anywhere here. Full disclosure, I haven't looked that closely. I have some money in a money market there, making basically nothing. Tomorrow, I'm going to move it to a cd and take advantage of that rate. Maybe I'm clueless but I was thrilled.
My main bank is paying .005% on cd's. Quite a difference.
@gidgetgh usually those higher rates apply to "new" money. As long as you deposit some $ from another they honor the promo or special rate.
11-03-2022 12:16 PM - edited 11-03-2022 12:36 PM
@CelticCrafter wrote:
@gidgetgh wrote:I got an email from one of my banks this afternoon. They're doing a 13 month cd special, with an interest rate of 3.75% APY.
i haven't seen rates like that anywhere here. Full disclosure, I haven't looked that closely. I have some money in a money market there, making basically nothing. Tomorrow, I'm going to move it to a cd and take advantage of that rate. Maybe I'm clueless but I was thrilled.
My main bank is paying .005% on cd's. Quite a difference.
@gidgetgh usually those higher rates apply to "new" money. As long as you deposit some $ from another they honor the promo or special rate.
@CelticCrafter - I know. This one doesn't say new money only. I have a call into them to verify. They had so many calls I did the auto call me back thing. I called another bank I bank with and they're running a promotion right now. 2.35% for new money only. 0.08% for established customers. It's kind of like the free shipping deal here, LOL.
Edited to add- I just got a call back from the bank. Promotion is for existing money as well as new money, so no restrictions. Since the Fed just raised the rates again, I'm going to wait a week or two. This promotion is good through 12/31.
I also got an email from American Express this morning. Money market rates have been raised to 2.50%
11-03-2022 12:20 PM
And as the Fed raises rates again upcoming, the CD interest rates will keep on rising too!
11-04-2022 07:51 AM
@Skyegirl21 wrote:And as the Fed raises rates again upcoming, the CD interest rates will keep on rising too!
@Skyegirl21 - I hope so. It's good to see personal saving rates rising some. It's been a long time.
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