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No-penalty CDs

msf
in Other Investing
For a few more days now, MainStreet Bank in the DC area is offering a 5% APY 15 month CD. You have to call the bank about an account. Ally Bank is offering a 4.75% 11 month CD, which is not taxable until maturity or redemption. (CDs with maturity of a year or less are tax-deferred until cashed out.)

https://mstreetbank.com/
https://www.ally.com/bank/no-penalty-cd/
MainStreet Bank of Fairfax, Virginia, introduced a 15-month, no-penalty CD with a 5% rate on March 14 but the small bank had planned to roll out the product before the Silicon Valley crisis, says CEO Jeff Dick. He says the bank’s deposits have grown, rather than shrunk, in the wake of Silicon Valley's troubles.

He added, however, that MainStreet was planning to offer the CD for just three weeks. With many customers shifting deposits since the crisis, “We’re going to keep it out there now” for another week or two. “I definitely want to have more of a cushion.”
USA Today via MSN

If one is expecting rates to continue rising, or at least not fall, no-penalty CDs can be a good option if one can come close to "regular" CDs with withdrawal penalties or broker-sold CDs.
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