A
Amanda S.
Does anyone still use these to invest? I’m deciding if they’re still worth it.
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Does anyone still use these to invest? I’m deciding if they’re still worth it.
@Amanda - the interest rates are not great at all in my opinion. they've been going down recently. honestly, i tried it and liked my high yield savings account way better.
you may get something out of this article: https://www.nerdwallet.com/blog/banking/cd-early-withdrawal-fees/#:~:text=The%20earlier%20you%20withdraw%20money,pay%20some%20sort%20of%20penalty.&text=You%20might%20have%20to%20forfeit,the%20way%20of%20a%20return
@Amanda CDs are not very popular these days but there's one I love. I keep a portion of my contingency fund in it. If you qualify for an account with Navy Federal Credit Union, they offer a 12-month Certificate that pays 3.5% APY. You can start it with anywhere from $50 to $3,000 and make additional deposits up to $3,000 through the maturity date.
3.5% is sweet!
I don't think that rate is still available.
I believe the average CD rate now is under 1%.
I don't think that rate is still available.
@Ming C., the 3.5% APY rate on up to $3000 is still available at Navy Federal CU. Look for the Special EasyStart Certificate. Last I heard, they were also waiving the checking account and direct deposit requirements.
thanks
I think the Navy Federal CU 3.5% APY is still available, but you need both direct deposit and a checking account
Does anyone still use these to invest? I’m deciding if they’re still worth it.
Not anymore with rates being so low. I don’t expect an increase until about 2025.
Thanks Aaron and Grace! Let me go check.
I think the Navy Federal CU 3.5% APY is still available, but you need both direct deposit and a checking account
I opened mine in late August, and they were temporarily waiving the direct deposit and checking account requirements.
Even an index fund can grow 10x as much, for little more risk. Ig @thepossibilityig for more.
I would love to get to the point to buy CDs
Can someone explain a cd to me real quick
Go to the bank they can explain their terms and conditions.
No bank
credit union usually pays a higher rate.