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About Ken Tumin

Ken Tumin founded the Bank Deals Blog in 2005 and has been passionately covering the best deposit deals ever since. He is frequently referenced by The New York Times, The Wall Street Journal, and other publications as a top expert, but he is first and foremost a fellow deal seeker and member of the wonderful community of savers that frequents DepositAccounts.

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What’s Your Best CD That Has Yet to Mature?


As I mentioned last month, many of us have high-yield CDs that are maturing this year, and it’s now a difficult decision about what to do with those maturing CDs. Back in 2008, it was easy to find 5% 5-year CDs. Even though the Fed was cutting interest rates through 2008, the financial crisis had banks worried about liquidity, and they were trying to attract deposits. So CD rates didn’t fall much until December of 2008 when the Fed cut the fed funds rate target to its lowest level of 0% to 0.25%. CD rates fell after that and continued to fall throughout 2009.

After 2008, there were just a few opportunities to get a 5% CD. One of the best opportunities was at PenFed in January 2011 when they had their Watch it Grow promotion which included a 5% 10-year CD. PenFed’s highest CD yield is now only 1.25% for a 7-year term.

Some savers may have 6% CDs that are still active. I would guess these CDs are 7-year terms that were opened in 2006 or early 2007. One of the best deals in early 2007 was at PenFed which had offered 6.25% APY for terms of 3 to 7 years. I made the mistake of choosing a 3 year term.

So what’s the best CD that you still have? And when does it mature?

And when it matures, do you plan to roll it over into another long-term CD? Or will you move some or all of the funds into savings or money market accounts?

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Anonymous   |     |   Comment #1
My best rate maturing is the 6.25 at Pen Fed.  The last one matures 1/14.  I do have one at Key Direct that lasts until 17 paying 6%.  It was just last year that I cashed an inherited one paying almost 8%.  So sad! What I will do with the money?  I have no idea!  I have gotten a 10 year brokered CD paying 3%. But I don't know if I should go that long at 3%.  I think I'll get a Vanguard Index fund paying some interest.  I wish I knew.  I so prefer keeping it in CDs. I listened when you said that we might not want the long term CDs since they might go up and didn't go as long as I could have.  Not faulting you because I wouldn't have found the rates I found without your advice! But I think for now I'll take the best I can at the moment and not look back.
Anonymous   |     |   Comment #2
Sorry to say, but my best CD right now is a Penfed IRA, 7 year with a 3.9% rate. It has about 5 years or so remaining but I can take all but $1,000 of it out and roll it over if rates go up, which doesn't look very likely at the moment.
playball   |     |   Comment #3
Mine is @ 5.44%, bought in Sept. '08. It matures in 2018.
Cracker   |     |   Comment #4
I know these don't count as CDs, but I have some I Bonds currently paying 4.2% interest.  They are from June 2001 and have a 3% fixed rate plus the current savings bond market rate.
Anonymous   |     |   Comment #5
My best CD currently is at only 3% (groan).  But that looks great compared with my other CDs which are at rates closer to 2% (double groan)!

I sure wish I had a time machine!
Anonymous   |     |   Comment #6
Too painful to talk about :(
Anonymous   |     |   Comment #7
Ally 4.5% ending this October.
Anonymous   |     |   Comment #8
Penfed 7yr 6.25% maturing 2014. Uncle Ben's plan is to force us savers into higher risk investments.
Shorebreak   |     |   Comment #9
Capital One 7-year CD maturing 12/18/2015

Anual Percentage Yield: 5.25% Interest Rate: 5.12%
Alskar   |     |   Comment #10
I wish I had gotten in on the >6% CDs! The best CD's I currently have are some PenFed CD's at 3.49% APY that mature in Oct 2017.  When I bought them I thought there was absolute no way that I would hold them to maturity, but now it seems likely that I will. 
Robert   |     |   Comment #11
Ally 5-year CD at 2% - matures in 4 more years.  Yes, that's my best; even though it's the lowest rate that has been posted to this thread thus far.
pjaskate   |     |   Comment #12
PenFed 7 year CD -   Dividend Rate:  6.07%  |  APY:  6.25%  |  Maturity Date:  01/10/2014
Anonymous   |     |   Comment #13
So that's why PenFed's rates dropped precipitously: they're carrying a bunch of extremely high rate very long term CDs on their books. Now they must offer below average rates. Probably will be in the hole for awhile. Wouldn't like to be the guy who made that decision!
Anonymous   |     |   Comment #14
PENFED 10 year CD  APY  5% matures 2021.  I beleive they made an error but honored the rate. When I opened it I thought I made a mistake but so far it has been great. 
scottj   |     |   Comment #15
Pentagon Federal 5% CD  01/21

United States Senate FCU  3.33% 09/16

Sovereign Bank  3% 02/16

First Priority CU  3.5% 12/14

Also have 2 3% Cds that will mature by end of year and rest our short term between 2%-2.50%
lof   |     |   Comment #16
the first 8 months of 2014, will wipe out all of my 4% & 5% 5 year cd's. It was a good run while it lasted.  Thinking back, that U.S.Senate 3.33% (5 yr.) was a good deal in Sept. 2011.  Still going to stay with the 5 yr. laddering, I hope I'll be climbing the next time.

OldGuy   |     |   Comment #17
3% APY CD maturing 3/16 at Simplicity Bank (fka Kaiser Federal).
Anonymous   |     |   Comment #18
nasa federal credit union 4% 9/13

mountain america  4.5% 2/14

pentagon 4%  1/15

Fort Knox 4% 1/15

Fort Knoz 3.75% 1/15

Pentagon 3.75% 8/17
Anonymous   |     |   Comment #19
Navy FCU  --   5.12% 11/27/13

Santa Barbara Bk (Now Union Bank)  -- 5.125 % 12/19/13

PenFed ---6.25%  1/03/14

Navy FCU --  6.o6%  2/1/14

Velocity CU --  2.81% 11/15/16

Contra Costa Co. (Tax Free--guaranteed by US Gov'ts)  7.90% 5/1/17

PenFed  5.00% 9/1/21

Calif Health Fac (Tax Free-- guaranteed by US Gov'ts) 5 7/8% 12/1/21

Tax Frees are Municipal Bonds that have been pre-refunded and escrowed in

US Gov't. securities.

Diversity--the only way to go in this C/D's when attractive

and look for alternatives when they are not attractive.  My feeling is that we are

beginning to head back to higher C/D rates..but cost of remaining in cash awaiting

a POSSIBLE move higher is onerous-----plenty of alternatives available---if you

are not willing to take even a slight risk then settle for 2% or less.  I feel that if I can get

4% with some risk then I can lose 2%/yr in principal and still be even.

Frankly, I feel that Chairman Bernacke saved our whole financial system so I can't

really complain today about low C/D rates.

Good luck to all of us.


lou   |     |   Comment #29
#19, When did you purchase the Contra Costa and Ca Health Facilities pre-refunded bonds? What is the maturity on those bonds? Is this your yield or the coupon rate? Did you buy these bonds at a premium? Those rates seem too high.
Robert   |     |   Comment #20
My 2% is still the lowest listed here.  Except for maybe the commenter on # 6 who said "Too painful to talk about"
CTM   |     |   Comment #21
Hanmi 5 Year Installment Savings - 6.00%, matures 6/14

BBCN (Nara) 3 Year Installment Savings - 3.50%, matures 8/13 :-(
AnonCD123   |     |   Comment #22
3.25% ADD-ON CD (so I can keep adding funds to it if I want) from Inter National Bank. Not anything fantastic by normal standards, but in today's environment, 3.25% is pretty darn good -- and I can keep adding funds to it. Another two years or so left on that. Wish it was more, but at least it has helped ride out this bottom valley of rates (which at least appear to be on a slight rise...)

3.00% Normal CD (not add-on) from Simplicity Bank (the old Kaiser Bank). About 2.5yrs left on that one. Unfortunately, cannot add to it, it's locked.
Anonymous   |     |   Comment #23
Does Darby still count? :)

Thankfully I moved my funds elsewhere (had a backup) when Darby folded. But just thought I'd bring up good ol' Darby.

I'll be a lot of us here miss Darby, and their 3/4/5% Add-On CD...

51hh   |     |   Comment #24
As a non-CDer, I just want to say that it looks like most of you are doing fine with high-rate long-term CDs so far and till the distant future.

So, what the heck is all the complaints on the low interest rate environment and the Fed.??
Anonymous   |     |   Comment #25
#24:  The complaint is from those of us who don't have any CDs paying more than 2%.  My higher paying CDs have matured with no place to go.  I guess I got caught at the low point!  Thanks Ben B.

Anonymous   |     |   Comment #26
To #24, You judge the rest of us by only a handfull of CD rates above the avarage.

There a millions of us stuck in a 1-2% for already 5 years and counting. Tell your firiend Bernanke to hurry up with the rates.
rickz   |     |   Comment #27

Capital One        5.35%     4/15     7 year

Urban Trust        4.41%     4/14     4 year

First Republic     4.17%     4/14     5 year

Citibank             3.92%     9/14     5 year

Terrabank            3.5%     12/13    4 year
Anonymous   |     |   Comment #30
6.25% Woori Installment - 04/19 - 10 Year

5.50% Nara Installment - 06/16 - 7 Year

5.25% Pacific City Installment - 07/15 - 6 Year

5.75% Hanmi Installment - 06/14 - 5 Year

I got them when the market was crashing...
Anonymous   |     |   Comment #41

You must be on the west coast because you missed the best installment account at Newbank, 7% for 15 years. Mine matures in 2024.
51hh   |     |   Comment #32
My post (#24) was intended to be humorous (sorry; should have added the ":-), complimenting all you folks (addressing to  only you folks) with great CD rates and terms (maybe we should all give Ken the huge credit in some CDs).  What a serious crowd:D

Of course we all know for fact once those CDs expire, there are no repalcements with similar rates/terms for some time.  And many (including me) did not get into those great deals one way or another.  So we should all compain:-)  Benny is not my friend, either.

What I want to contribute is: Do not look at CDs alone, how about RCAs.  We can not say which is better; but how about a hybrid combination of the two?  One can get (3%, $25K) RCAs with some effort and that is liquid money.  One may miss a lot with CD-only portfolio.
Anonymous   |     |   Comment #34
#32 If you could tell me what a RCA are I would appreciate it.  Thanks
Anonymous   |     |   Comment #33
PenFed 7 year CD -   Dividend Rate:  6.07%  |  APY:  6.25%  |  Maturity Date:  01/2014

Will continue to ladder.  Also will continue to barbell the ladder if rates for short terms are nearly the same or more than the longer terms. 
Anonymous   |     |   Comment #35
Have tradtional and roth IRA's at Pen Fed earning 6.25%, 6% and 5% maturing in the next year or two, as well as several others with lower interest maturing there and other places years out.  I hope to add my maturing Roths to my existing accounts at Navy. I will have to look for some other places for part of of the traditional IRA's because I don't want, when interest is added to get past the insurance limits. So will transfer the Roths first and see how much of the traditional I can transfer. Also want lower RMD's that I have to start next year and lower interest so that I can convert more to a Roth each year until I get most or all converted. 

I have a traditional CD maturing the end of Oct. I plan on putting some of it in the savings account to again gift to the children on Jan 1, I might have a kitchen put in the basement next fall for our holiday dinners. I have up to 52 people for Thanksgiving and Christmas dinners and will be getting to old to run and down the stairs with all the food.  I already have the appliances but the refrigerator is the only thing hooked up. The area is already completely finished off.  With the rest if needed I will use to pay taxes on another Roth conversion. With less interest income I will be able to convert a little more without jumping into another tax bracket. In fact as my traditional CD's mature I will put the money that is not gifted, most likely, into a savings accounts so that I can convert more to a Roth until most or all is converted. Don't want to jump a tax bracket or to get higher Medicare premiums. That way the Roths will not count as income if needed  and the children will be able to inherit it tax free.  As I get too old to have the dinners the younger ones can cook, and if I need assisted living I will have a bedroom, kitchen and living space with a separate entrance for someone to move in with me. If not it could be an apartment for new buyers. I have also seen many of these in our area used for parent apartments and then the parents babysit for working children. Many have worked out astonishing well.  That is the plan. But all ideas do not always work out as planned. 
Anonymous   |     |   Comment #36
This is #1.  I would like to know what an installment CD is?  Also, what is an RCA?  Sorry if this is old hat to some, I don't know what they are. Thank you.
Anonymous   |     |   Comment #37
Reply to #29 from #19

Bot Cal Health in 2011 at par--bonds were refunded earlier this year for 2021 $100 call--

original maturity was 2031.

Bot Contra Costa many years ago at par--bonds were escrowed to maturity subsequent.

Only shown as part of laddering approach for both C/D's and alternatives----looking at whatever

was most advantageous at any particular time--not just limiting myself to C/D's.  Money that I

absolutely could not afford to lose in C/D's then using that security "blanket" to look for other

higher yielding (longer lasting) values elsewhere.

Granted not for everyone--but has worked very well for me for decades.

High rate C/D's have given me a secure enough feeling so that I could expand my horizons-

perhaps there are others like me.

Hope that answers your question.

P.S. I along with just about everyone else am eagerly looking forward to higher C/D rates.
51hh   |     |   Comment #38
Reward Checking Account (RCA), which has much higher interest rate than money market (even CD) rates; but with some additional monthly requirements such as number of debit card transactions, online statements, and ACH transfers.
Rosedala   |     |   Comment #39
I have a 6% IRA Penfed maturing 10-12-14 and I too was one of the greedy ones who put the smaller amount into the 7-year hoping to get higher interests.  They had offered 3, 4 and 7 year CDs the first 2 of which already matured.  :o(  

I have a 3% IRA account with TIAA which they said "will never go down"; however (and I don't blame them) the new accounts will get less...(1%?)  I think I'll add my matured IRA Penfed to this one at any rate unless a Fed miracle happens... lol!  TIAA's aren't CDs one can withdraw without penalty or problems at any time - huge advantage!

I have several fixed no-coupons muni state bonds, with excellent interests of over 5% and only 2 of them with 4.4% interest.  Some will mature next year but most have a long way to go.

My very first annuity I bought when I was young and stupid, has now been giving 4% ("which will never go down") for the last 6 or 7 years while other instruments were giving only 1 or 2% so I'm sure they are now lamenting this clause.  It'll mature next year and I'll have to start annuitizing to avoid penalty which at this time it's good to  extend the 4% which I wouldn't get anywhere unless for 10 or morel years.  But I reedemed myself by having bought annuities for the last 15 or so years at close to 6% and with the time limit I chose just as with CDs...  :o)

Anonymous   |     |   Comment #40
5.90% Key Direct mat 2017

More concerned about the 5.00% Chase (former WaMu) maturing end of this year ... still undecided what I will do when it matures. 
Papa   |     |   Comment #42
I have three left which I fortunately made the decision to keep very long-term.  5% Penfed maturing in 2018 and two 7% CDs maturing in 2024.
lou   |     |   Comment #43
Papa, can you elaborate on these CDs. I don't think there is a 5% Penfed CD that matures in 2018. Please give me more details. As for the 7% CD, where did you buy it and when?
Papa   |     |   Comment #44
Hey Lou.  I was mistaken, I logged into my Penfed account and the 5% CD actually matures in 2021.  This was part of a 10-year CD promo that Penfed offered to customers who had maturing CDs in late 2010 / early 2011.  The 7% CDs were opened at a small local bank in KY, but those were for an extremely limited time and very long term.  I just happened to be in the right place at the right time so to speak.  They were 15-year CDs if memory serves. 
Anonymous   |     |   Comment #45
Papa, can you share with us the name of the KY bank?

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