Anyone Have A Clue When We Will See 3% CD's At The Big Bank?

Gizmoghp60 | Apr 20, 2018 | 6 posts since 2018

How much longer before we start seeing big banks offering 3% on CD's? The big banks are making big bucks and only paying depositors chump change. It really sucks.

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Answers

ChasR | Apr 20, 2018 | 287 posts since 2013

Some are offering 3% on 5-year CDs in the brokered CD market--Citibank, GS Bank.

buckeye61 | Apr 20, 2018 | 454 posts since 2011

When you say "Big Banks" are you talking about the B&M mega banks(Chase, BoA, & Wells Fargo) or big online only banks like Ally?

Gizmoghp60 | Apr 20, 2018 | 6 posts since 2018

I was talking about big online banks like Ally. It may be years before the brick and mortar banks offer 3%. I do not like brokered CD's.

Robb | Apr 20, 2018 | 322 posts since 2018

Capital One is up to 2.75%.

buckeye61 | Apr 20, 2018 | 454 posts since 2011

Well, Capital One 360 and Barclays are currently at 2.75% for 60 months. There are several factors that determine longer term interest rates, but if current trends continue we should see 3% before the end of the year. The bigger question is what is the best case scenario for longer CD maturities over the next year or two?

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