Best CD Rates In Knoxville Area

[the_great_pumpkin]

The best I have seen is ORNL Federal Credit Union. They currently have a 16 month promotional with $500 minimum at 5.35 % APR. Does anyone know of a bank or credit union paying more?

 

[superdave1984]

You still play CD's? Get with the times man.

 

[Thunder Good-Oil]

Capital One has a 4.25% savings account with zero minimum.

High-Yield Rate:360 Performance Savings | Capital One

Open an online savings account today. Maximize your personal savings with no fees, no minimums, and a competitive high-yield savings rate.

www.capitalone.com

 

[Wireless1]

Have you considered orange juice? It’s very liquid.
I suspect in 6 months the return will be higher

 

[the_great_pumpkin]

I'm just asking a simple question. It would be nice to just hear something besides sarcastic and smart a## comments. I've never understood why some people feel the need to do this.

 

[BigOrangeMojo]

Orion FCU pays 6% for checking for first 10K here in Shelby County...

You probably aren't going to materially beat the 5.35% APR for 16 months...

 

[superdave1984]

I'm just asking a simple question. It would be nice to just hear something besides sarcastic and smart a## comments. I've never understood why some people feel the need to do this.

Haven't been on forums long huh?

 

[kiddiedoc]

Also, many online financial sites offer around 5% interest on idle cash that is automatically invested into their mutual fund (SPAXX, for example on Fidelity) or in USDC if using crypto.

 

[the_great_pumpkin]

Haven't been on forums long huh?

You just can't help yourself can you. Carry on.

 

[Go aeiou]

The best I have seen is ORNL Federal Credit Union. They currently have a 16 month promotional with $500 minimum at 5.35 % APR. Does anyone know of a bank or credit union paying more?

You might want to give online brokers a look. They have minimums though.
Vanguard, Fidelity, schwab.
Not a bank, but most of the CDs will be insured by Federal Govt. Transfer the money from them to your bank online as needed.
Vanguard "Federal money market" 7 day yeild is 5.3% . 12 month non callable CD from Wells fargo is 5.4%

Certificates of deposit: Rates & CD investment options | Vanguard

Brokered CDs offer interest and FDIC coverage that may be subject to limits. Choose from a variety of CDs and view Vanguard CD rates today.

investor.vanguard.com

 

[Thunder Good-Oil]

You might want to give online brokers a look. They have minimums though.
Vanguard, Fidelity, schwab.
Not a bank, but most of the CDs will be insured by Federal Govt. Transfer the money from them to your bank online as needed.
Vanguard "Federal money market" 7 day yeild is 5.3% . 12 month non callable CD from Wells Fargo is 5.4%

Certificates of deposit: Rates & CD investment options | Vanguard

Brokered CDs offer interest and FDIC coverage that may be subject to limits. Choose from a variety of CDs and view Vanguard CD rates today.

investor.vanguard.com

Schwab is a bank in addition to being a broker. Their phone app works the best for transfering between banking the broker side IMO.

Morgan Stanley is a bank and since they own eTrade, eTrade has full banking services available.

Fidelity is not a bank, but has agreements with several banks to offer CDs.

Vanguard is not a bank.

Schwab is pretty seamless between their bank and brokerage businesses.

The apps for Fidelity and eTrade don’t do a good job of consolidating banking and brokerage services into a single platform if you like to use a phone. But you can go online outside of their apps with better functionality. You can also aggregate your accounts for VIEWING. But if you want to MOVE money from banking to brokerage accounts (or vice versa) you’ll be bouncing around different phone apps. E*Trade will transfer funds quickly, but it’s just kind of a pita to not automatically sweep funds and transfer using one app.

I never funded an Interactive Brokers account, but their interest rates are very good when depositing and using margin.

 

[the_great_pumpkin]

You might want to give online brokers a look. They have minimums though.
Vanguard, Fidelity, schwab.
Not a bank, but most of the CDs will be insured by Federal Govt. Transfer the money from them to your bank online as needed.
Vanguard "Federal money market" 7 day yeild is 5.3% . 12 month non callable CD from Wells fargo is 5.4%

Certificates of deposit: Rates & CD investment options | Vanguard

Brokered CDs offer interest and FDIC coverage that may be subject to limits. Choose from a variety of CDs and view Vanguard CD rates today.

investor.vanguard.com

Go, I have 2 CD's at Knoxville TVA Employees CU that are paying 5.7% APR. That's the best I have seen in YEARS. Their rates have dropped since then and will probably go even lower when the fed starts dropping rates. Thanks for being helpful instead of like some on here that just want to try to belittle others. I'm guessing that if they can try to do that to someone it makes themselves look impressive, kinda like immature high school kids would do.

 

[the_great_pumpkin]

Orion FCU pays 6% for checking for first 10K here in Shelby County...

You probably aren't going to materially beat the 5.35% APR for 16 months...

BigO that is crazy good! Too bad there is a limit on paying the 6% but hey even on 10k that's still a good return.

 

[Go aeiou]

Schwab is a bank in addition to being a broker. Their phone app works the best for transfering between banking the broker side IMO.

Morgan Stanley is a bank and since they own eTrade, eTrade has full banking services available.

Fidelity is not a bank, but has agreements with several banks to offer CDs.

Vanguard is not a bank.

Schwab is pretty seamless between their bank and brokerage businesses.

The apps for Fidelity and eTrade don’t do a good job of consolidating banking and brokerage services into a single platform if you like to use a phone. But you can go online outside of their apps with better functionality. You can also aggregate your accounts for VIEWING. But if you want to MOVE money from banking to brokerage accounts (or vice versa) you’ll be bouncing around different phone apps. E*Trade will transfer funds quickly, but it’s just kind of a pita to not automatically sweep funds and transfer using one app.

I never funded an Interactive Brokers account, but their interest rates are very good when depositing and using margin.

Good point. I'm still in the last century. I use a notebook for most things financial.
I use a phone to talk and text. Also take pictures.

 

[headhunter15]

Ideally how much money should someone put in a CD?

 

[VolNExile]

Ideally how much money should someone put in a CD?

However much money you need to be absolutely safe and reasonably easy to access (might be penalties.) Got a college tuition payment coming up in 6 months? CD is a good choice. Kid going to college (we hope) in 6 years? Not so much.

 

[K-town Vol Fan]

If anyone has a bunch of money just sitting in a regular savings account you are absolutely making a mistake. I keep 5k in savings at my credit union for emergencies and the rest in a HYSA. It takes a few days to transfer from the HYSA to my bank. The rates aren't as high as CD rates but it's easier to access with no penalties to withdraw, although I do believe Ally, who I currently use, limits how many withdrawals you can make per year, although it is not unreasonable. 5 iirc. Anyway, I'm currently getting 4.25% and just counting my free money every few months. I think it was 4.75 when I opened it. Super easy to set up and use as well.

 

[Thunder Good-Oil]

Ideally how much money should someone put in a CD?

Risk tolerance is a better question. Long term CDs are going to lose buying power versus inflation (and after being taxed) so they aren’t without risk. But equity investments can fall in value.

Right now is a decent environment to grab 6-36 month CDs if that money isn’t needed over that time frame. Rates are expected to fall late this year and inflation could fall as well.

But if there’s outstanding, higher interest loans on the personal balance sheet - then paying that debt down is a better use of liquid personal capital.

Don’t overlook laddering CDs with multiple staggered maturity dates and replacing them as they mature with longer maturity CDs.

Also using Treasury Direct for up to about $10k per year is a smart, conservative idea. Great interest rates relative to Wall Street offerings and as safe as you can get short of a US financial collapse. There are penalties though for early withdrawals.

 

[Thunder Good-Oil]

More specifically - Treasury Direct iBonds.

I bonds — TreasuryDirect

www.treasurydirect.gov

 

[95 Vol Alum]

If anyone has a bunch of money just sitting in a regular savings account you are absolutely making a mistake. I keep 5k in savings at my credit union for emergencies and the rest in a HYSA. It takes a few days to transfer from the HYSA to my bank. The rates aren't as high as CD rates but it's easier to access with no penalties to withdraw, although I do believe Ally, who I currently use, limits how many withdrawals you can make per year, although it is not unreasonable. 5 iirc. Anyway, I'm currently getting 4.25% and just counting my free money every few months. I think it was 4.75 when I opened it. Super easy to set up and use as well.

Same. Love Ally. Ally 12 month rate on CD is 4.5% so sounds like better rates can be had.

 

[YankeeVol]

NavyFed was a little over 5% not too long ago. I think an 18 month is 4.59% right now.

*Special Easy Start of 5.3% for 12 months until 9 JUN

 

[the_great_pumpkin]

NavyFed was a little over 5% not too long ago. I think an 18 month is 4.59% right now.

*Special Easy Start of 5.3% for 12 months until 9 JUN

Yankee you are right. I had a cd with navy for I think 5.20% and when it matured I pulled it and went with KTVA ECU last November. They had a 12 month promotional for 5.45% PLUS for the month of November they were honoring military and veterans and adding an additional .25% so that made it 5.70% which is the best I have seen out there. The 5.3 Easy Start you mentioned is still pretty good though. Thanks for the input.

 

[the_great_pumpkin]

More specifically - Treasury Direct iBonds.

I bonds — TreasuryDirect

www.treasurydirect.gov

Thunder I checked the link and Series I Savings Bonds are currently paying 4.28%. The EE Bonds are only at 2.70%.

 

[Thunder Good-Oil]

Thunder I checked the link and Series I Savings Bonds are currently paying 4.28%. The EE Bonds are only at 2.70%.

Yep. Inflation is down by about half since it was at 7% 2 years ago.

If the next move by the Fed around November is to cut (and inflation is the same or lower) then the iBonds will pay even less. But the iBonds are protected when interest rates and inflation rise instead of being locked in while the value of owned debt falls (even though there’s not a secondary market for unloading the bonds). The value of the principle won’t fall - but there’s still the early withdrawal hit. I guess they’re similar to CDs but with the inflation and rate hike protection and an alternative approach to maturity dates.

I haven’t followed them closely since I still have far more in margin loans than owned debt. However I did buy the BND ETF earlier this year thinking that there’d be several rate cuts by now, I wanted to keep a certain level of liquidity/cash available, and guessed wrong that BND would work better than CDs. I’m typically far more long equities and have little experience with owning debt other than commercial bank accounts.

 

[Go aeiou]

Thunder I checked the link and Series I Savings Bonds are currently paying 4.28%. The EE Bonds are only at 2.70%.

Rate changes on i bonds. if inflation goes up they will adjust the i payment.

You can buy more than $10k in a year. Make sure you have at least a $5k tax refund and you can buy $5000 more. If married your spouse can do the same. Total of $30,000 per year for a married couple.