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Helpful No-Penalty CD Thread Posted 9/20/2024 by Ken Tumin on X

RichardW
  |     |   821 posts since 2019

“After the 50-bp Fed rate cut, time is running out on good No Penalty CD deals. Here are noteworthy APYs as of 9/20/2024:

4.75%, 14mo, Sallie Mae Bank via Raisin

4.55%, 13mo, M.Y. Safra Bank

4.40%, 13mo, Marcus

4.00%, 11mo, Ally Bank

3.75%, 12mo, Bank of America”

…and later in this thread:

“NP CD rates may be lower than today’s top HYSA rates, but HYSA rates are not locked. When you open a NP CD, your rate is locked until maturity. By moving some funds from your HYSA into the No Penalty CD, you can boost your overall cash yield with little loss of liquidity.”

https://x.com/KenTumin/status/1837223798984053132

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John19
  |     |   397 posts since 2022
Could be very useful especially if they do another 50 basis point cut at the next meeting.
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