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CIT Bank 11 Month No-Penalty CD: Earn Expired
4.90% APY*
CIT Bank, our partner, offers the following benefits with their No-Penalty CD.
Thanks to community member psychojinx for sharing this deal.
Thanks to community member psychojinx for sharing this deal.
- $1,000 minimum to open
- No penalty to access funds if needed before maturity
- No opening or maintenance fees
- Daily compounding interest to maximize your earning potential
- Member FDIC
- *See site for details
Original Post
Written by
Edited May 9, 2023
at 10:03 AM
CIT Bank, our partner, offers the following benefits with their No-Penalty CD.
- $1,000 minimum to open
- No penalty to access funds if needed before maturity
- No opening or maintenance fees
- Daily compounding interest to maximize your earning potential
- Member FDIC
- *See site for details
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Awful , awful reviews
https://wallethub.com/profile/fir...-13003328i
I spoke to Fidelity about buying T-bills or bonds through them and my recollection is that there are two ways to do it, one involves fees and one doesn't. I figured for the same effort it would take to fully understand the difference, I could probably figure out the Treasury Direct site and I was correct about that.
The idea is to balance risk and get a better return than what my bank offer. UST Direct accomplish that with one stop shopping. You get a better rate and don't have to spend ungodly amounts of time chasing rates at unknown banks all over the country.
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at 6.08% and its continuously callable but starting 2/18/2025 so essentially a 6.08% until then and then until you are called. It also is not locally taxed so that's helps anyone in that boat over a CD. If you plan on having money put aside thats not a bad option.
Shahhere
Shahhere
What platform are you looking at? This is what I am seeing on Fidelity and looks like you dont need to settle the purchase until 8/18/2023; assuming it will still be offered until then?
6.08% 15 Year bond that pays out semi-annually and callable after 2/18/2025. Making this at the min a 1.5 year CD and as noted that Fed Home Loan Bonds you do not pay Local Taxes on Interest earned.
Attaching the 2 pictures to go along; this does beg to question that there might be 1 or 2 more better offerings but if you can park $10,000 in $5,000 increments its not fixed income earn.
Shahhere
Almost jumped on it until I saw that fine print.
Or just do premium savings for over 5%
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Ally is indeed the better of the two but their's is currently at 4.55% and the highest it got was 4.75% before dropping. Here's hoping the competition will make them push up the amount.
Nope.
I think some people might not understand how to buy and how to sell them that keeps them from buying or just traditional mentality of putting funds in CDs.
Have you looked into Agency Bonds? Specifically this week purchase date of 8/9/2023 (CUSIP 3133EPSU0) Depending on how much liquidity you need; these bonds are 15 year bonds that pay 6.29% semi-annually. What I think will happen is that you'll get called on the bonds (its a callable bond) so at best its a 1 year CD and at best a 15 year high fixed income investment.....
Not sure if people put CDs for Kids but i think you can even buy these bonds/bills for them if you wanted to....I already put some for my kids to help avoid all the interest gains for myself.
Shahhere
Have you looked into Agency Bonds? Specifically this week purchase date of 8/9/2023 (CUSIP 3133EPSU0) Depending on how much liquidity you need; these bonds are 15 year bonds that pay 6.29% semi-annually. What I think will happen is that you'll get called on the bonds (its a callable bond) so at best its a 1 year CD and at best a 15 year high fixed income investment.....
Not sure if people put CDs for Kids but i think you can even buy these bonds/bills for them if you wanted to....I already put some for my kids to help avoid all the interest gains for myself.
Shahhere
Just buy money market funds that mandate to invest in government / agency securities. VUSXX at vanguard generates over 5.15% doing this, no reason to mess around with cusips or CDs
Usernames are case sensitive! In what era are you CIT!!
Wife hates and yours will too
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edit: no state tax