Ally 12-month CD 2%
Just noticed that Ally has a new 12month CD at 2% through Jan 2. I grabbed one to start building a CD "ladder", rather than have all my CDs expiring at the same time.
Personally I'm going with a CD ladder that has a duration of 5 years. My plan, and hope, is to purchase one every 5 years, then will add to existing ones as they mature. I'm also buying my first CD for my ladder this year. It's not as great a deal as you found and Synchrony is giving 2.30% for a 5 year bond.
I thought about CD ladders, but then I realized it creates too many accounts to track I had 3 5-year ladders (15 CD accounts) and was about to add another ladder in December. So I am moving to I Bonds. As my ladder rungs mature will move the money over.
PROS: I Bonds are inflation protected and tax deferred until you cash out (or 30 years). Plus there is no state income tax on them so you can squeeze out a slightly higher Tax Equivalent Yield in states with income tax. You can break a bond in as little as $25 increments.
You can buy a max of $10k in I Bonds per year per TIN.
CONS: I Bonds have a 3 month EWP for the first 5 years and can't be redeemed at all in the first year, but I find that not to be much of a con as long as you're not moving your entire savings into I Bonds all at once.
So instead of buying a 5 CD ladder last December, I just bought one I Bond for the total amount.