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Synchrony Bank 5-Year, New Issue, Non-Callable Brokered CD

RichardW
  |     |   821 posts since 2019

As of today, Synchrony Bank is offering 5-year @ 3.90% new issue, non-callable brokered CDs at Fidelity, Vanguard and TD Ameritrade. The rate is lower than the 5-year direct (non-brokered) CD rates currently offered from the following major online banks: Ally, American Express, Barclays, Capital One, Discover, and Sallie Mae. The rate of 3.90% is also lower than the 5-year direct (non-brokered) CD rate currently offered from Synchrony Bank itself (4.30% APY).

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CDmanFL
  |     |   286 posts since 2019
Apologies in advance for upchucking my lunch. Us savers are taking it where the moon doesn’t shine — again.
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MAKNYC
  |     |   324 posts since 2015
I hear ya brother. But lets be fair about it. A year ago we were all hoping for anything resembling a return on bank investments. When inflation hit with a vengeance and rates starting moving higher quickly we saw rates that we haven't seen in over a decade! And if you offered anyone here a year ago a bank account at 5% they would've done cartwheels. But once it actually happened they started shooting for the moon. 5% wasn't good enough anymore. I saw people predicting returns to the 80's interest rates. Fact is rampant greed played a large part of this, especially if you consider that the Fed of today is not the Fed of yesteryear, despite what they might want you to think.
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sams1985
  |     |   781 posts since 2022
Guilty for sure- i was a bit more realistic and thought we'd continue to rise and max around 6%. But greed can also cloud your thinking and judgement. 5% vs 6% at the end of the day is not life changing. Even now we are all crying because all that's available is 4.15% 5 year brokered non-callable cd's. I joined DA early enough to remember how many said 4 was untouchable.

CDmanFL, i feel your pain but MAKNYC is right In two weeks, when the fed raises the rate another 50 basis points, there SHOULD be some 5 year brokered cd's available around 4.5%. I think you should jump in at that point. Otherwise even now you can get direct CD's at Bread and CFG that are around that range. What range are you waiting for?
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CDmanFL
  |     |   286 posts since 2019
It’s not necessarily what range I’m looking for. Rather I am just perturbed how quickly those brokered CDs disappeared. Us savers have been abused for many years and just when there were some very promising and attractive rates the rug was pulled out from under our feet. But if you’re asking what rate would make me very happy, it would be 5% on a long term CD, non-callable of course.
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sams1985
  |     |   781 posts since 2022
Nothing is happening yet- Most direct CD rates are holding pretty steady if not rising. Not sure what is going on with the brokered CD phenomenon but let's be patient for the next 2 weeks.
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John19
  |     |   397 posts since 2022
Those 5% brokered CDs might become the stuff of legend, but with inflation still 6%-7%+ hopefully there's more to come. The peak FFR could be very high to fight that inflation. I still might buy a few more CDs now and blend them with whatever rates come next.
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NFO
  |     |   66 posts since 2022
When people stop buying that sort of junk, the rates will go up. Matter of time.
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RichardW
  |     |   821 posts since 2019
I guess 3.90% wasn’t low enough for Synchrony Bank. As of today (12-9-2022) Synchrony Bank is now offering their 5-year, new issue, non-callable brokered CD for 3.75% at Fidelity.
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CDmanFL
  |     |   286 posts since 2019
That’s lovely news heading into the weekend.
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