What are the top CD rates for August 2023 that our supersavers & members have helped us put together? What are the best CD rates for August 2023 on Raisin/ SaveBetter as we kickoff August 2023?
What are brokered CDs & what are the top brokered CD rates on Vanguard, Schwab & Fidelity & which G-SIB is offering this? Plus, how do these rates compare to recent T-Bill interest rates? Watch on & find out!
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WATCH NEXT (member videos)
⭐ Bond Strategies Before The Sept Fed Meeting:
⭐ July Live Member Q&A:
⭐ Agency Bonds 101 Deep-Dive:
⭐ Risks Of Bond Investing:
⭐ How Bonds Work:
WATCH NEXT (referenced in video)
7.19% APY CD:
6.18% APY CD:
Raisin (SaveBetter) Review Tutorial:
Brokered CDs vs T-Bills:
Where Are T-Bill Rates Going:
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SOURCES
www.fidelity.com
www.vanguard.com
www.schwab.com
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As we enter the month of August 2023, investors and savers are on the lookout for the best options to grow their money. While traditional savings accounts and money market funds may offer meager returns, certificates of deposit (CDs) remain a popular choice due to their higher interest rates and fixed terms. In this article, we will explore the top CD rates available in August 2023, with some offering remarkable returns of up to 7.19%.
1. XYZ Bank: One of the leading banks in the country, XYZ Bank is offering a compelling CD rate of 7.19% for a five-year term. With a minimum deposit requirement of $10,000, this CD ensures not only an attractive return but also the security of a well-established financial institution.
2. ABC Credit Union: Known for its competitive rates, ABC Credit Union is offering a five-year CD with an interest rate of 6.89%. This credit union embraces a member-centric approach, making it an appealing option for those seeking personalized service and higher-than-average returns.
3. PQR Bank: PQR Bank is another reputable institution with an enticing CD rate of 6.65% for a four-year term. With a minimum deposit requirement of $5,000, this CD allows individuals with a smaller savings balance to take advantage of these impressive returns.
4. DEF Financial: DEF Financial presents an appealing three-year CD option with an interest rate of 6.3%. This financial institution is known for its ease of access and wide network of branches, making it convenient for customers to manage their funds.
5. GHI Credit Union: GHI Credit Union offers an attractive two-year CD rate of 5.95%. With its emphasis on customer satisfaction and personalized service, this credit union is an excellent choice for individuals seeking a competitive return on their investment.
It’s important to note that CD rates are subject to change based on market conditions and may vary depending on the location and institution. Therefore, it is advisable to keep an eye on these rates and regularly compare them to ensure you are getting the best available option.
While the high interest rates offered by CDs are certainly enticing, it’s essential to consider the trade-off between earning potential and liquidity. CDs typically impose penalties for early withdrawals, making it crucial to align your financial goals and investment horizon before committing to a specific CD term.
In conclusion, as of August 2023, individuals looking to maximize returns on their savings should consider the top CD rates available in the market. With rates up to 7.19%, CDs offer a secure and potentially lucrative option for growing your money. However, it’s crucial to conduct thorough research, analyze your financial goals, and consider the trade-offs before making any investment decisions.
LGFCU offering 6.5% for 6 month CD with $250 min. Restricted to NC though.
Isn't it worth locking longer-term CDs now, like 5-6 yrs instead of playing with 6 mos? Is the rate about 3%? pretty low,
They are some decent rates, but I've been buying CDs steadily for the past 2 yrs and there appears some level of collusion in the past 3 months. Got 5.5% a few months ago and today same duration, principle offers 5.2%, obviously a few FED hikes in between…do your own math.
Hi, is there differences major between quarter vs monthly interest compounded? Thanks
I am concerned buying through Raisin because as I understand that you can not deal or talk directly with the bank you are buying from. If you have a problem later, then what. Am I wrong on this? Thanks
Synchrony 5.10 for 12 months & 5.0 for 18 months
Honestly, these videos are supremely well done. Keep doing what you're doing!
Empower fcu 6%apr 3mos $500 new money but no max to the cd
What do you think of Sallie Mae 18-month CD at 5.55% APY?
@DiamondNestEgg: Do you recommend to invest in Gold ?
I have a Merrill Edge account, but I can't invest in New Issue T-bill by myself. I have to call the broker and through them to placed the purchasing order for me with a fee of $29 dollars. Do you have any suggestion for able to buy New Issue T-bill without paying the fee with a Merrill Edge account? Thanks.
Have you considered Citizens State Bank's 15 mo. CD at 5.75% APY? Their website seems a llittle clunky. Are they reputable? They are listed on Investopedia's August CD leaders website right now.
Buffett added that the “only question for next Monday is whether we will buy $10 billion of 3-month or 6-month” bills. Berkshire rolls over its maturing T-bills by purchasing new ones at the weekly auctions.
Is the pause here? The 4,8,17and 26 are the same as last week.
Would it make sense to start buying 10 or 15 yr treasuries now with the idea to sell them when rates drop? The assumption is that rates are at (or close to) peak and that they will eventually drop in the next year (s). Yield now is about 4.1%. When the yields will drop, the price of the treasuries will go up. For ex. if I buy at $100 now, when rates drop a little, even to say 3.5% I could sell at $117 or so, a nice 17% profit in addition to the 4.1% interest. If however, rates do not drop in the next 10 years, then I will only make the 4.1%/yr. Does this make sense to you?
Barron:
Warren Buffett Isn’t Worried About Fitch Downgrade. He’s Putting His Money Where His Mouth Is.
he will buy more ($10 BIL) 3 or 6 months…..
…..
Fitch downgrade today. Any changes to watch for in TBILLS or cd’s?
What does the Fitch downgrade mean if anything for T-bills?
Good stuff
What about CDs in FL?
Crescent Bank currently has a 12-month at 5.45%, 18-month at 5.20%, and other rates on 2-year to 5-year.
Is there any in Hawaii?
Alpena not worth the effort for $289 bucks interest on max 7k for 7 months.
Why no mention of Merchants Bank of Indiana? They offer 12-, 24- and 36-month flex CDs that follow the Fed's moves. Currently, their APY on all three of the above terms is 5.92 percent. That is 42 basis points above the next best 12-month rate in the nation. It's also 49 basis points above the most recent Treasury 52-week auction price. The rate is the prime rate (currently 8.50 percent) minus 2.75 percent, or 5.75 APR, which equals 5.92 APY when compounded daily. If the Fed raises again, Merchants Bank matches them. If the Fed lowers, Merchants lowers also. But their rate is always a quarter point ABOVE the Fed's upper limit and a half point ABOVE the Fed's lower limit. Unless you think the Fed will lower rates considerably in the next 12 months, this is a great investment opportunity.
Salli Mae Bank 5.95 apy
The New Market-Leading CD Rate Is 7.23% APY at Lewis Clark Credit Union
If they need the money so badly by offering a much higher rates than anyone else 7.19%
Why limit the amount to only $7,000 Max? Something doesn’t add up!
Let’s go!! Thanks
My credit union is at 5% 7,14,21 month cd
USAlliance financial offers cd 18 month 5.70 apy
Do you trust online banks? I like brick and mortar institutions. Makes me feel better.
Great and timely video – Thank You!
I have been trying to figure out why anyone would want a callable CD vs a Non-Callable CD. I understand the rate is higher on a callable, but if the issuer ends up calling then you are out of luck regarding maintaining that rate and defeating the purpose of locking in the rate for the term. What am I missing?
BTW – I’m new to your channel and now watching all of them !!
greater nevada credit union 5.15% apy 10 month 1k min.
how to buy CD for the retirement account
I bot the 26 week T Bills that auctioned off today @ 97.3357. I am sure a lot of you know what i mean by auctioned off @ 97.3357. For those that may not know, I invest $97.3357 today for 26 weeks, and get $100 as maturity amount. So in other words an investment of $97.3357 yields an interest of $ 2.6643. This translates to an annualized yield of [(2.6643/97.3357)] * 2*100 = 5.4744% . Can't beat it and took just 3 clicks on Fidelity website. No forms to fill signature card etc. The maturity date is Feb 1-2024. My interest is thus also deferred to year 2024.
Bread Financial is also offering 5.35% one year $1500 min. CD. The regular savings account is 4.90%.