Highest Brokered CD Rates As Of 7/09/2024

Kirkland
  |     |   377 posts since 2014

As of 3:30 pm EST 7/09/2024, here are the highest rates available at either Charles Schwab brokerage and/or Vanguard brokerage for non-callable, new-issue brokered CDs with terms of 3-month, 6-month, 9-month, 1-year, 18-month, 2-year, 3-year, 4-year, and 5-year:

3-month: 5.30% (Umpqua Bank OR)

6-month: 5.20% (Barclays Bank DE, PNC Bank NA PA)

9-month: 5.15% (Poppy Bank CA)

1-year: 5.05% (Truist Bank NC), 5.00% (BofA, MSPB)

18-month: 4.90% (Barclays Bank DE, MSB, MSPB)

2-year: 4.75% (MSB, MSPB)

3-year: 4.65% (Sallie Mae Bank UT, Toyota Financial Savings Bank NV, MSPB)

4-year: 4.55% (MSPB)

5-year: 4.50% (Sallie Mae Bank UT)

Large issuers abbreviations:

BofA => Bank of America, NC; GSB => Goldman Sachs Bank USA, NY;

MSB => Morgan Stanley Bank, UT; MSPB => Morgan Stanley Private Bank, NY;

SCHW => Charles Schwab Bank, TX; UBS => UBS Bank USA, UT; WF=> Wells Fargo Bank, SD.

Notes: Brokered short rates have really dropped in July. Market has quickly priced a 25 basis points cut going forward across all maturities, short and long. In late June, 5.35%, interest payable monthly, was available out 1 year, now is available at maturity at only 5.05%. For those staying liquid, waiting for the yield curve to steepen (longer rates to rise), the previous 4-week T bill auctions were most recently yielding investment rate: 5.375%, 5.365%, 5.324%, 5.355%. Current Money Market Yields at Vanguard (VMFXX (Settlement fund) – 5.27%, VUSXX – 5.28%, VMRXX – 5.28%). With the short-term T bills and Treasury Money Market VUSXX, your interest is state income tax free. MSB, MSPB rates posted at Schwab brokerage, but not yet at Vanguard brokerage. Except for posted MSB 2 ½ year at Vanguard, available at 4.70%.




happyharold4
  |     |   392 posts since 2022
Thank you for putting this together.
RichardW
  |     |   821 posts since 2019
Kirkland, thank you for posting this list and notes. The MSB and MSPB CD rates and terms which you listed are also available at Fidelity as of 8:00 pm EDT 7/9/2024.
hiyield
  |     |   41 posts since 2017
Kirkland, thank you for the posting.
In addition, there is a today's posting from Jonathan Ping at
https://www.mymoneyblog.com/best-interest-rates-on-cash-roundup-july-2024.html


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