CD rate?

[kenny thomas]

Smart people?
Putting 10,000 in a CD at 5.2% if compounded monthly how much different than if annually?

 

[jltrent]

$520 compounded annually and $532.57 compounded monthly which the difference is $12.57. About 35 years ago when I was a Branch Manager I could do it in my head. I have to use a calculator now. See if they will do it daily on a 365 day year and it will be $533.72

 

[kenny thomas]

$520 compounded annually and $532.57 compounded monthly which the difference is $12.57. About 35 years ago when I was a Branch Manager I could do it in my head. I have to use a calculator now. See if they will do it daily on a 365 day year and it will be $533.72

Thanks, i will be down in a few minutes to get my motor, weedeater, and pressure washer.

 

[jltrent]

Thanks, i will be down in a few minutes to get my motor, weedeater, and pressure washer.

The old lady is off and we maybe headed to JC.

 

[kenny thomas]

The old lady is off and we maybe headed to JC.

Ok, another day then. Support beef, buy her a steak.

 

[Brute 23]

Are they giving you 5.2 for a year? That's pretty good. We were just looking at some for my son and the shorter terms were higher than the year. Seemed like they weren't expecting rates to stay.

 

[puzzled in oregon]

Check into the callable ones. Not sure banks are doing them, but EJ had some.

 

[Mark Reynolds]

I'm scared for life. When I see "CD", I instantly think Conservation Desktop, Our (NRCS) primary planning tool. And then there is "DC". I don't think District of Columbia or comics, I think District Conservationist.

 

[moses388]

Putting 10,000 in a CD at 5.2% if compounded monthly how much different than if annually?

https://www.omnicalculator.com/finance/cd

 

[dave_shelby]

What bank? Truist is offering 4.5 for 5 months

 

[shaz]

5.2 is about as good as it gets right now. I have some 5.4 from Goldman Sachs from a month ago

 

[Little Joe]

I just purchased a 6 month at 5.2 at Edward Jones a few weeks ago. It was slightly lower to go a year. I have one coming due soon at a local bank paying 5.85. I keep hearing that they expect interest rates to drop but that's also what they told me a year ago. Who knows! It's kinda strange to see the market doing well while Cds and other secure investments do well at the same time, usually it's one or the other.

 

[1982vett]

https://www.treasurydirect.gov/auctions/announcements-data-results/
And you don't have to darken the door of a bank to "beg/ask/get" for your money back.

Gripes me to no end to be asked what I'm going to do with MY money when I cash in a CD!

 

[shaz]

I just purchased a 6 month at 5.2 at Edward Jones a few weeks ago. It was slightly lower to go a year. I have one coming due soon at a local bank paying 5.85. I keep hearing that they expect interest rates to drop but that's also what they told me a year ago. Who knows! It's kinda strange to see the market doing well while Cds and other secure investments do well at the same time, usually it's one or the other.

The general consensus is that the Fed will hold steady with a slight drop late in the year but, I agree with what you're saying. Seems like stocks and bonds have been mutually exclusive forever.

Also noticed that small caps have underperformed for a few years but "appear" to be surging. I'll eat those words I'm sure

 

[puzzled in oregon]

5.45% on a 13 month Callable CD. It can be Called at 5 months, or any month after that until it matures. A bit of a gamble maybe, but am guaranteed 5.45% for at least 5 months.

 

[farmerjan]

Our credit union offers 5.54% on checking account.... if you use the debit card 15 times for a total of $250 a month...up to $25,000 average daily balance.... pays interest monthly...
No it's not locked in, but it also is your money to use, take out, or whatever, at any time you want.... so totally fluid. Just for example, after putting in some checks from cattle sales, my average daily balance in June was around 17,000.... interest deposited at the end of the month based on that average daily balance was around $75...... that's nothing to sneeze at... I think my son calculated it out and that up to the $ 25,000 that they will pay 5.5% on, he says it is about $110 a month.... after that it is about .15% or something equally ridiculous...
You might want to check with the local credit union... BUT you have to use the debit card 15 times and total over $250 to get that rate.... I do alot of small charges on mine plus some gas and make sure I get in at least 15 charges by the 20th or so... since some are "pending" and might take a few days to post to the account.... and if you wait til too close to the end of the month they may not post and son said he lost out on it one month by 1 charge.... because it didn't post to the account for several days...sure, it will go towards the next month's "total numbers of charges" but it hurt him that month. Pays alot more to keep the money to pay the yearly farm payment and such, in the checking that way, than it does to tie it up in a CD.... if it drops way off then you will lose compared to being tied up in a CD for 6 months or so.......but it has held for quite some time...
Just another possibility to look into.

 

[puzzled in oregon]

Most of you sound like your banks and Credit Unions are way more generous than our local ones. The best our Credit Union would give us a year ago was 3.75% for 13 months. Most of these financial institutes hear will offer up to 2% more to new depositors than they will people who have banked with them for years.

 

[shaz]

Our credit union offers 5.54% on checking account.... if you use the debit card 15 times for a total of $250 a month...up to $25,000 average daily balance.... pays interest monthly...
No it's not locked in, but it also is your money to use, take out, or whatever, at any time you want.... so totally fluid. Just for example, after putting in some checks from cattle sales, my average daily balance in June was around 17,000.... interest deposited at the end of the month based on that average daily balance was around $75...... that's nothing to sneeze at... I think my son calculated it out and that up to the $ 25,000 that they will pay 5.5% on, he says it is about $110 a month.... after that it is about .15% or something equally ridiculous...
You might want to check with the local credit union... BUT you have to use the debit card 15 times and total over $250 to get that rate.... I do alot of small charges on mine plus some gas and make sure I get in at least 15 charges by the 20th or so... since some are "pending" and might take a few days to post to the account.... and if you wait til too close to the end of the month they may not post and son said he lost out on it one month by 1 charge.... because it didn't post to the account for several days...sure, it will go towards the next month's "total numbers of charges" but it hurt him that month. Pays alot more to keep the money to pay the yearly farm payment and such, in the checking that way, than it does to tie it up in a CD.... if it drops way off then you will lose compared to being tied up in a CD for 6 months or so.......but it has held for quite some time...
Just another possibility to look into.

My bank is doing the exact same thing. Trying to keep up with all these reward cards I guess

 

[shaz]

Most of you sound like your banks and Credit Unions are way more generous than our local ones. The best our Credit Union would give us a year ago was 3.75% for 13 months. Most of these financial institutes hear will offer up to 2% more to new depositors than they will people who have banked with them for years.

Maybe you should get a brokerage account at Fidelty or other

 

[puzzled in oregon]

Maybe you should get a brokerage account at Fidelty or other

Sort of of did. Asked EJ what they could do, then marched out the credit union door with over a $100,000.00.