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5.30 Rate For 23 Months

Sanger
  |     |   321 posts since 2022

I have a jumbo CD I got it last year great rate at the time I am really thinking about the 5.30 for 23 months. I think the feds will be lowering rates very soon damn if you do damn if you don't. Credit Human Credit Union it is a very hard call.

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8


milty
  |     |   1,689 posts since 2018
Regardless of 2024 price and employment data, deposit account yields have hardly budged (especially the longer term ones) for quite awhile now. If one prefers fixed income investments then one can of course stay liquid and get a decent rate today, but if one has enough surplus perhaps locking in a longer-term CD, filling in some ladder rungs, is not a bad idea, since as we all know that when the Fed cuts those liquid rates will disappear tomorrow. That said, 5.30% for 23 months looks pretty good at the moment.
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5
mffarrell
  |     |   95 posts since 2018
I was thinking about possibly getting this CD until I discovered that the early withdrawal penalty is 1 year interest…no thanks!
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3
MY2CENTSWORTH
  |     |   440 posts since 2016
I guess that's the difference in how people think. That is a top rate at the moment for that term and the rate trend has certainly been down. Heck, you could split your deposits up 6 or 7 ways to mature every month from 17-23 and still get the 5.30% APY.  Why would you be looking at a 23 month certificate and worrying about the EWP? You can get that rate and higher all over the place for shorter terms or even close while keeping your dollars completely liquid? My Momma once told me ya can't have your cake if you're going to eat it too! Geez!
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4
Maestro
  |     |   42 posts since 2023
From Credit Human's "Truth In Savings" the EWP should be 270 days. I think there may be a review here at DA that was discussing the odd month penalties.

Also agree with M2CW to maybe split into multiple CD's, something like 60/30/10 percent and should the need arise you could minimize the penalty.

https://www.credithuman.com/privacy-disclosures
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3
Sanger
  |     |   321 posts since 2022
Hi, I just called Credit Human today Monday May 6 to confirm the EWP it is 270 days. And the penalty gets less as it gets closer to maturity. If they decided to change rates it is done on Fridays. They think this rate will be around till the end of May.
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4
Zemo999
  |     |   103 posts since 2017
Not sure what you mean by the EWP getting less as it gets closer to maturity. Can you explain further? TIA.
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1
nutkin
  |     |   60 posts since 2019
Any hints from them whether it'll go up or down?
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1
nutkin
  |     |   60 posts since 2019
Been looking at this one too; holding out a bit longer in case the Advancial 5 year jumbo jumps
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1
nutkin
  |     |   60 posts since 2019
It's now 5.25%; looking like a steady decline from here
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Sanger
  |     |   321 posts since 2022
Hi nutkin I saw that this morning at this point I really do not see rates going up on long term CDs anytime soon I think we are pass that I am going to go with that rate on Monday they change rates on Fridays I want to get in before they even go lower that is still a good rate at this time in this rate cycle for me.
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1
nutkin
  |     |   60 posts since 2019
I agree, Sanger, especially with all this talk of stagflation.
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