CDs at 4.6%

**thehornworks** · #1 10-24-2022, 10:30 PM

I just bought 2 year CD at 4.65 % at Edward Jones. Not bad if you want to stay out of the market.

**Oldss** · #2 10-25-2022, 12:47 AM

Finally. A good short term rate. Our local banks aren’t there yet but they will be.

**COPO** · #3 10-25-2022, 04:51 AM

The I-bonds are also a good alternative and are paying 9.62% if purchased before end of Oct. Rate adjusts every 6 months, but for now is quite an inflation hedge. Max purchase per SSN is $10k per calendar year, plus can use up to $5k of a tax refund to purchase I bonds, so $15K total per year. You use Form 8888 to re-direct a portion of your tax refund. Exempt from local and state taxes as well.

**Keith Seymore** · #4 10-25-2022, 11:36 AM

Is there a time frame? Like do you have to hold them for a year, or seven years, or whatever?

Thanks,

K

**rpoz28** · #5 10-25-2022, 01:15 PM

You have to hold them for at least one year. If you cash in before five years, you lose the last three months of interest.

The rate will change on new bonds issued in November, the expected rate will be 6.48%.

**thehornworks** · #6 10-25-2022, 10:10 PM

Yes I looked at them, only 15k a year. The cds pay interest every 6 months into my EJ account and I get interest (small) on that interest.

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