It looks like we have seen the peak in CD rates – at least for the foreseeable future. The highest rates I saw on Fido or eTrade were in the 5.8% area soem number of weeks ago.
Fido is NOW showing rates of 5.35% for a 3 month CD, with lower rates further out – 4.85% for a 2 year ‘callable’ in June 2024. eTrade is showing slightly higher rates–up to 5.40% for a 1 year ‘callable’ in June, 2024.
Make no mistake that when it is advantageous for a bank to call an issue they will make the call – no goodwill will be shown–this is business. When will it be ‘advantageous’–I have no real idea, but maybe some readers with more experience in this matter will give us a helpful comment. It seems that it might be around 1/2%-1% lower on Fed Funds since there is a cost involved in the call.
The best opportunity I’ve found is with Advancial Federal Credit Union, 5 year at 5.07%. -5.27% dividend rate depending on amount deposited. The customer service rep was very easy to work with. She believes the rate will be good to Jan 1. They are based in Dallas, Texas.
https://www.advancial.org/current-market-interest-rate/
Sallie Mae is still offering 5.5 for 12-13 mo, and 5.55 for 15 mo
https://www.salliemae.com/banking/certificates-of-deposit/
Tim, Citi is offering a FDIC insured 5.25%-5.65% 11 month rate (depending on invested amount), though I believe they will take this down shortly
https://www.citi.com/banking/cd-account
All the very best, Azure
Thanks for tagging on Azure!
And Synchrony still offering 9 month 5.50% https://www.synchronybank.com/banking/cd/?UISCode=0000000