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31 March 2018, 03:44 AM | #1 |
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Is it a good time to buy CD (Certificate Deposits)?
I was checking out CD's earlier today and was surprised to see they climb up to 2.75% APY for a 5 year deposit.
I know 5 years is a lot but still 2.75% is not that bad. What do you guys think would you invest into a 5 year CD today ?
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31 March 2018, 04:06 AM | #2 |
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Sorry, that I can't answer. However, my band is releasing a CD in June and that would be a perfect time to buy.
dP
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31 March 2018, 04:08 AM | #3 |
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By recent standards, no, not that bad.
But still not a rate to be happy about. We all have different needs, risk tolerances, etc, so I can only speak for myself, but that number isn't anywhere near the rate I'd be willing to lend them money at.
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31 March 2018, 04:08 AM | #4 |
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31 March 2018, 04:33 AM | #5 |
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I wouldn't...
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31 March 2018, 04:34 AM | #6 |
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i wouldn't tie money up that long for that amount of return. Id rather make somewhere around 1/2 of that in a savings account if you are going ultra conservative with risk.
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31 March 2018, 04:37 AM | #7 | |
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31 March 2018, 04:41 AM | #8 | |
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Let us know when it is out!!! As to the OP question, nope. In a rising rate environment I have a feeling you will regret that move. Sent from my iPhone using Tapatalk Pro |
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31 March 2018, 05:10 AM | #9 | |
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What bank has a savings account paying 1.375? I have a savings account at Chase with almost $60K in it and my monthly interest payment is .53. Yes, 53 cents. It’s purpose is an emergency/ rainy day fund so don’t want to tie it up, or move it to my brokerage account where it’s harder to access, but I’d love to get a better rate. Sent from my iPhone using Tapatalk |
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31 March 2018, 05:27 AM | #10 | |
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31 March 2018, 05:58 AM | #11 |
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My Ally Bank online savings account is the same rate
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31 March 2018, 06:03 AM | #12 |
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31 March 2018, 06:29 AM | #13 | |
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How do you guys like the virtual bank concept? Mail in a check and not have a physical location to visit? I've never taken this path as it seems with the high rate of interest there have to be some drawbacks and limits on the money being completely accessible. Something about being able to see a person makes me feel better. But for 1.44 vs. .01 I might get over this. |
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31 March 2018, 06:37 AM | #14 | |
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Quote:
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31 March 2018, 06:39 AM | #15 |
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31 March 2018, 06:41 AM | #16 | |
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No mailing checks for me. I just snap a pic to deposit. Sent from my iPhone using Tapatalk |
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31 March 2018, 06:46 AM | #17 | |
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Exactly
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31 March 2018, 06:51 AM | #18 |
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I'm currently buying 2 yr CD's. Not much lower than 5 yr rates and doesn't tie the money up too long with rates likely to increase.
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31 March 2018, 06:52 AM | #19 | |
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Discover, Ally, Capital One, the list goes on... I believe theyre currently at 1.5%apy
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31 March 2018, 06:55 AM | #20 | |
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If you want to start now, but are concerned a better rate will come around, and want safety all the while - consider an old-fashioned solution - a CD Ladder system of investing. https://www.bankrate.com/finance/cd/...-worth-it.aspx Sent from my iPhone using Tapatalk Pro
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31 March 2018, 06:56 AM | #21 |
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31 March 2018, 06:59 AM | #22 | |
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I have a local bank and an online one. I link accounts online and can just transfer with app as needed between the two. If I get a check from something I can deposit by picture. Sent from my iPhone using Tapatalk |
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31 March 2018, 06:59 AM | #23 |
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or you enter your banking details (account number/routing number) and do transfers online. I have not written a check for years.
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31 March 2018, 07:18 AM | #24 | |
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31 March 2018, 07:19 AM | #25 |
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I wouldn't tie up any cash for 5 years right now at anywhere near that low a rate.
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31 March 2018, 07:25 AM | #26 |
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1 year max. 6 MO CD’s are around 1.5%, so the 1% premium is not worth the extra 4.5 years.
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31 March 2018, 07:27 AM | #27 |
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31 March 2018, 07:27 AM | #28 |
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no
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31 March 2018, 07:34 AM | #29 |
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Better off using an online bank and maintaining your savings liquid. 2.75% locked for 5 years is peanuts in environment where rates are on the rise. I'd rather take a lower rate but maintain the liquidity.
For my USD savings I'm with Ally Bank which pays 1.45%. Connected to my main account with HSBC USA no problem. |
31 March 2018, 07:53 AM | #30 |
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Any friendly advice to save for teenage driver? The $$ I expect to spend is already there. Should I flip over to a money market for easier access?? Have no clue exactly when a 2nd car will be needed.
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