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Update 4/3/2024: For an up-to-date Liquid Account Summary, please refer to this scaled-down version in the DA Forum: Liquid Account Leaderboard for April 3, 2024. For the latest savings, money market and reward checking rates, please refer to DA's savings account rate table, money market account rate table and reward checking account rate table.
Some changes are coming to the DA blog. First, this will be the last weekly summary. More attention will be placed in DA’s main rate tables to ensure they remain the best resource for finding the highest rates on CDs, IRA CDs, savings accounts, money market accounts and checking accounts. Second, the daily blog posts on noteworthy rate deals will no longer be published.
Instead of deal posts and weekly summaries, I plan to publish weekly on the blog in-depth articles on banking topics that are newsworthy and/or educational. Other financial writers will also be contributing to the blog with educational pieces and data studies.
To keep up-to-date on the best deals and on noteworthy rate changes, please check out the Bank Promotions section of the DA Forum. Many DA members already contribute valuable news on deals and rate changes. Each Forum thread in this section is tied to a specific bank, credit union or fintech. I plan on being more active in this Forum.
As DA readers know, the deals blog posts include many details of the product and the institution, which can include banks, credit unions or fintechs. The long-term plan is to move that valuable information into the institution profile pages (Alliant Credit Union profile page is an example of an institution profile page.) These institution profile pages already contain many details about the institution, such as financial health and branch locations. Each institution profile page also provides product rate tables. We want these pages to be the one place where you can find all the useful details about the institution and its deposit products.
In addition to bank promotions and rate changes, the DA Forum includes other sections, such as financial news, “ask the community”, and miscellaneous. The latest thread Forum page provides a convenient list of the latest Forum postings. To keep this page useful, please avoid political topics. The focus should be on deposit accounts, rates and financial institutions.
I’ve been publishing these weekly summaries for more than 18 years, and it’s difficult for me to see them come to an end. However, I’m happy that I’ll be able to focus more on banking news and education, and I look forward to helping DA remain the best resource on the web for finding the best rates on all types of deposit accounts.
For discussions about the Fed funds rate and where deposit rates are going, please refer to my Fed meeting review. These Fed meeting reviews will continue.
With the Fed remaining in the “higher-for-longer” mode, most online banks should keep their online savings and money market rates steady. That is what we’ve seen in the last two weeks and also since 2024 began. However, a few banks have already begun lowering their rates. Three noteworthy rate cuts in the last two weeks took place at Ally Bank, Discover Bank and Sallie Mae Bank (see their rate cut details below).
Due to rate cuts in the last month at a few of the well-established online banks, the Online Savings Account Index did decline in February. This Index tracks the average APYs of ten well-established online savings accounts. In February, the Index fell 5 bps to 4.44%.In January, the Index remained unchanged at 4.49%, and in December it gained 3 bps. I don’t expect any significant declines until the Fed sends a strong signal that rate cuts are coming.
I’ve listed the most noteworthy rate changes that have occurred in the last two weeks. There are now three lists. There’s one for the well-established online banks. There’s another one for the savings and money market accounts on the Raisin platform, and the third list is for the savings and money market accounts at the smaller and/or newer online banks that are not well-known names.
All percentages are APYs.
Rate changes from the major online banks:
- Sallie Mae Bank MMA (4.75% → 4.65%)
- Ally Bank Savings (4.35% → 4.25%)
- Ally Bank MMA (4.35% → 4.25%)
- Discover Bank Online Savings (4.30% → 4.25%)
- Discover Bank MMA ($100k+ 4.20% → 4.05%)
Rate changes from banks & CUs on the Raisin.com platform
- First Mid Bank & Trust MMDA via Raisin (New: 5.30%)
- Hanover Bank MMDA via Raisin (5.20% → 5.30%)
- AVB Bank HY Savings via Raisin (New: 5.27%)
- Customers Bank HY Savings via Raisin (5.30% → 5.26%)
- Western Alliance Bank HY Savings via Raisin (5.28% → 5.26%)
- American First CU MMDA via Raisin (5.28% → 5.26%)
- DR Bank HY Savings via Raisin (5.30% → 5.26%)
- Nelnet bank HY Savings via Raisin (New: 5.13%)
Rate changes from the less well-known CUs & online banks:
- Popular Direct Select Savings (5.20% → 5.15%)
- All America Bank Mega MMA (up to $100k: 5.05% → 4.90%)
- Redneck Bank Mega MMA (up to $100k: 5.05% → 4.90%)
Current rate leaders
From two weeks ago, the number of savings and money market accounts in the 5.25% club has increased from 31 to 33.
Poppy Bank remains alone as the rate leader after Milli Bank slashed its savings account rate from 5.50% to 4.75% APY in February. Poppy Bank continues to offer 5.50% APY on its Premier Savings account, and this rate is still guaranteed to last for three months after account opening.
Out of the 33 accounts in the 5.25% club, 16 are available from banks and credit unions that offer their accounts directly to consumers from their websites or mobile apps. There have been no changes in these 16 since two weeks ago. The next highest rate from this group after Poppy Bank’s 5.50% APY is 5.35% APY. This is offered by My Banking Direct, Brilliant Bank and BrioDirect.
The savings and money market accounts available on the Raisin platform make up 14 of the 33 accounts in the 5.25% club. This is up from 12, two weeks ago. Two left the group, and four were added to the group. The net effect is an additional two institutions.
Two banks that were listed on Raisin two weeks ago with 5.25%+ savings accounts are no longer being listed. These are First Resource Bank and Prism Bank.
One bank is new to Raisin (AVB Bank). It’s listing a High Yield Savings Account with a 5.27% APY. Another bank (First Mid Bank & Trust) is back on the Raisin listings after being unlisted for some time. It’s now offering a Money Market Deposit Account with a 5.30% APY. DR Bank’s High Yield Savings Account had been removed in February, but it’s back on the Raisin listings with a 5.26% APY.
Lastly, Hanover Bank recently joined the 5.25% group after it increased the rate of its Money Market Deposit Account from 5.20% to 5.30% APY.
The remaining three in the 5.25% club are savings accounts offered exclusively through the MaxMyInterest.com platform. These haven’t changed in quite some time. They include Customers Bank (5.36% APY), BankProv (5.36% APY) and Veritex Community Bank (5.34% APY). Since Customers Bank offers savings accounts from both the MaxMyInterest platform and from the Raisin platform, I only include the MaxMyInterest one for inclusion in the 5.25% club since it has the highest rate.
In summary, this week’s 5.25% club includes 16 savings and money market accounts directly available to consumers, 14 savings and money market accounts only available from Raisin, and 3 savings accounts only available from MaxMyInterest.com. That’s a total of 33 savings and money market accounts.
To be in the 5.25% club, online savings and money market accounts must have APYs of at least 5.25% for reasonable balances. My definition of reasonable balances is a minimum balance to qualify for 5.25%+ APY of no more than $100k and a maximum balance of at least $250k.
One institution that doesn’t qualify is First Internet Bank since its Money Market Savings account requires a minimum balance of $1 million to earn 5.48% APY.
Rate guarantees without withdrawal penalties
Climate First Bank‘s 6-month No-Penalty CD Special continues to be the rate leader for no-penalty CDs. It’s available directly from the bank’s website with a 5.34% APY and a minimum deposit of $500.
The next five in the rankings are no-penalty CDs on the Raisin platform. Technology Credit Union offers the highest rate (5.25% APY, 5-month term). The next three offer a 5.15% APY and have terms of 3-, 4- and 5-months. The fifth is Blue Federal Credit Union’s 9-month No-Penalty Certificate (5.10% APY).
No other no-penalty CDs have APYs above 5% now. All In Credit Union’s 9-month no-penalty CDs had been in this group, but the new APYs are 4.96% ($100k minimum) and 4.91% ($1k minimum).
For terms of 11 months or longer, the highest rate is still 5.00% APY. This continues to be available from USALLIANCE Financial Credit Union (11-month term), SkyOne Federal Credit Union on Raisin (12-month term), and M.Y. Safra Bank (13-month term).
The two best no-penalty CD deals from well-established online banks continue to be the 11-month no-penalty CD from CIT Bank (4.90% APY) and the 13-month no-penalty CD from Marcus by Goldman Sachs (4.70% APY).
In addition to no-penalty CDs, there are also three savings and money market accounts with promotional rate guarantees.
The best deal remains the High-Yield Savings Account at Ivy Bank, which is still guaranteeing 5.30% APY on balances of at least $2.5k to a maximum of $1 million through 6/30/2024. Of course, the value of this guarantee is shrinking as time moves forward. June 30th is now close to three months away.
The one that has the highest rate is Poppy Bank’s Premier Online Savings account which has a 5.50% APY that’s guaranteed to last for three months after account opening. A minimum balance of $1k is required. Regarding the balance limit, Poppy’s FAQ provides this answer: “There is no limit on the balance you may maintain in your account. However, the initial deposit made through Plaid is limited to $2 million. Additional deposits can be made through online banking after the account is opened or by visiting a Poppy Bank Branch.”
The longest guarantee period is at EverBank, which has a one-year intro rate guarantee on its Yield Pledge Money Market account. This intro rate had been 4.75% APY, but it’s now only 4.30% APY. This intro rate applies to balances up to $250k, and it’s guaranteed for one year after opening.
There’s one new account with a rate guarantee. Climate First Bank has added a rate guarantee to its Choice Personal Money Market. The Bank is now guaranteeing 5.34% APY on this account until June 1, 2024. This account requires a minimum $50k deposit to open, and there’s a $15 monthly service charge if your daily minimum balance falls below $5k.
With significant odds that the Fed will start cutting rates around the middle of this year, no-penalty CDs are becoming more attractive. If interest rates fall, your no-penalty CD rate will remain unchanged until maturity or until you close it. Thus, the longer the term of the no-penalty CD, the better deal it is. No-penalty CDs with shorter terms don’t have any value over longer terms since you are free to close the CD without penalty soon after the CD is funded.
Money Market Funds
If you don’t want to deal with the hassles of the online banks that offer 5%+ yields, a money market fund can make things easier. Money market funds have done better than many online savings accounts of keeping their rates close to the federal funds rate. Another benefit of a money market fund is that you can do your part to put pressure on the banks to raise their deposit rates.
The Vanguard Federal Money Market Fund (VMFXX) 7-day yield is now 5.27%, no change from two weeks ago. Vanguard reports the compound yield to be 5.40%. This is defined as “the interest earned on the original principal invested and also on the interest earned in previous periods,” which would make it similar to APY for bank accounts.
The Fidelity Money Market Fund (SPRXX) has a 7-day yield of 5.03%, also no change from two weeks ago. Its compound yield is 5.16%. As usual, it lags Vanguard’s yield by 20 to 25 bps.
Municipal money market fund yields have been up and down, even as the Fed keeps rates unchanged. That has recently changed. Yields have been holding fairly steady for the last four weeks. The Vanguard Municipal Money Market Fund (VMSXX) 7-day yield is now 3.25%, up slightly from 3.24% two weeks ago. The 7-day yield of the Fidelity Municipal Money Market Fund (FTEXX) is now 3.19%, up from 3.08% two weeks ago.
Money market funds from brokerages are another option for your cash. They don’t have FDIC coverage, but they can be reasonable alternatives to deposit accounts. To maximize safety, choose only those that invest in Treasurys or federal government debt. Also, stay with the major brokerage firms like Fidelity, Vanguard or Schwab.
Money market fund yields tend to be close to zero when the Fed sets the target federal funds rate to 0%, and they tend to follow the target federal funds rate during a rate-hiking cycle (unlike the major online savings accounts which have let us down in this cycle.)
Reward Checking Accounts
For the nationally-available reward checking accounts (RCAs), there were three noteworthy rate changes in the last two weeks.
Two of the changes were on the rewards checking accounts at All America Bank and its online division, Redneck Bank. Rates on both accounts fell from 5.30% to 5.15% APY for balances up to $15k.
The third noteworthy rate change was at First Tech Federal Credit Union. Its reward checking account rate increased from 4.00% to 5.00% APY for balances up to $15k. This is one of the rare RCAs that allows the use of either a debit card or credit card to qualify for the top rate. Unfortunately, the card usage requirements are more difficult than those of the average RCA. A monthly total of 20 card purchases are required, and the total minimum monthly spend is $500. It also requires a monthly direct deposit or ACH transaction of at least $1k. First Tech FCU also has a limited-time promotional offer on this RCA. Members who open a new RCA or those who already have one, can earn a $300 bonus. To qualify for the bonus, a new payroll direct deposit of at least $1k must be set up and maintained for a minimum of three months.
There are three reward checking accounts with top yields of at least 6% for balances of at least $25k. These include Andrews FCU’s Kasasa Cash (6.00% APY, up to $25k), Credit Union of New Jersey (6.00% APY, up to $25k), and FitnessBank (6.00% APY, up to $25k). There’s also one with a $20k cap (Pelican State Credit Union’s Kasasa Cash, 6.05% APY on up to $20k). These accounts might be worth the effort for those who want to maximize their interest earnings. In addition to offering a yield higher than the top online savings accounts, these RCAs have a big rate advantage over most of the checking accounts at online banks, which have low rates.
To find the highest reward checking rates and balance caps in your state or nationwide, please refer to our reward checking rate table. If you're new to reward checking, please refer to my blog post, Overview of Reward Checking and Our Reward Checking Table.
Certificate of Deposit Deals
I publish my CD survey as a separate post. Please refer to my survey of the best CD rates. This recap focuses on liquid accounts, but I’ll include a few of the best CD deals.
We continue to see a slow fall of CD rates. A few of the credit unions that had market-leading CD rates did cut their rates in March, but some did hold their rates steady.
The best long-term CD deal in January and February had been at Advancial Credit Union. For a $50k minimum deposit, its 5-year and 4-year CD rates were 5.40% APY and 5.20% APY, respectively. Advancial’s rates went down in March, but amazingly, they remain rate leaders in the 5- and 4-year categories. Its 5-year CD now has APYs of 5.01% ($50k minimum), 4.91% ($25k minimum), and 4.80% ($1k minimum), and its 4-year CD now has APYs of 4.81% ($50k minimum), 4.71% ($25k minimum), and 4.60% ($1k minimum). Note, Advancial has a history of being erratic in providing an easy path to membership for people in any state. Due to this, Advancial products haven’t been included in DA’s rate tables when the “Nationwide Only” filter option is selected. For more details about these Certificates and how to join Advancial, please refer to this review of Advancial Certificates. Thanks to the DA readers who have shared their experiences joining Advancial and opening these CDs in the comments of the review and in this DA Forum thread.
For the 3-year category, DollarSavingsDirect (DSD) appears to be the only institution offering a yield of at least 5%. A couple of credit unions that had been offering 5% have lowered their rates in March. DSD has been offering 5.00% APY on its 3-year CD since last August. Before you open a DSD CD, you first must have a DSD online savings account, which also has a 5.00% APY. DSD is an online division of Emigrant Bank, which has three different online divisions. The other two are MySavingsDirect and EmigrantDirect. All three online divisions have the same products, but they typically have different rates. MySavingsDirect was also offering 5.00% APY on its 3-year CD, but this rate fell to 3.00% APY in February. For more details about this 3-year CD, please refer to my review of MySavingsDirect CDs. All three online divisions share the same online account platform and CD features. Please refer to my report on the recent changes at Emigrant Bank.
There’s a new leader in the 2-year category. Credit Human’s 18-23 month CD has taken the lead after Pelican State Credit Union’s 24-month Share Certificate rate fell from 5.27% to 5.00% APY. Credit Human’s 18-23 month CD has a 5.20% APY with a $500 minimum deposit. This qualifies for the 2-year category since a 23-month term can be chosen.
Hughes Federal Credit Union held its 17-month CD rates steady in March, and thus, these remain the rate leaders for the 18-month category. It continues to offer its 17-month Special with a 5.65% APY ($99k minimum) and a 5.60% APY ($50k minimum). Please refer to this Hughes FCU CD review for details.
Global Innovations Bank, is currently the rate leader for the 1-year category. It’s offering 5.51% APY on a 12-month CD Special. Minimum deposit is $10k. The 12-month CD Special can only be opened online using CD Valet. The "Open Now" button at CD Valet takes the user to the start of the online application at Global Innovations' website. More details are available in this Global Innovations Bank CD review. It should be noted that this is a small bank with less than $100 million in assets. This rate and/or availability may not last long.
Alliant Credit Union has the second highest 1-year CD rate (5.45% APY). This is only available for Alliant’s Jumbo Certificate, which requires a $75k minimum deposit. The non-Jumbo version has a 5.40% APY with a $1k minimum deposit. These rates are available not only for a 12-month term, but also for terms up to 17 months. More details are available in this Alliant Credit Union CD review.
For the under 1-year category, Newtek Bank’s 6-month CD Special (5.55% APY) is now the rate leader. The previous rate leader was Andrews Federal Credit Union which had offered a 6-month Certificate Special with a 5.75% APY, but this Special has ended. Newtek Bank’s CDs have a $2.5k minimum deposit. More details are available in this Newtek Bank CD review.
Comments
Please keep discussions of politics to a minimum in the comments of this post. The focus of the comments should be deposit accounts and rates. Comments in this post that include politics may be removed. Also, comments with any rudeness towards others will be removed.
Political discussion that relates to the economy should be kept in my Fed meeting review post.
Checking/Savings/Money Market Accounts:
- Best Savings Account Rates (Nationwide and by State)
- Best Money Market Rates (Nationwide and by State)
- Best Checking Account Rates (Nationwide and by State)
| Institution | APYs | Notes | |
|---|---|---|---|
| Poppy Bank | 5.50% | Poppy Premier Online Savings (3-month rate guarantee) - Account review | |
| First Internet Bank | 5.48% ($1m+), 3.77% (up to $1m) | Money Market Savings | |
| Customers Bank | 5.36% | Max Savings (Only available through MaxMyInterest.com) - Account review | |
| BankProv | 5.36% | Max Savings (Only available through MaxMyInterest.com) - Account review | |
| My Banking Direct | 5.35% ($1 min) | High Yield Savings - Account review | |
| Brilliant Bank | 5.35% ($1k min) | Surge Money Market Account (replaced Magnetic MMA as of 11/1) Internet bank, deposits held by Equity Bank - Account review | |
| BrioDirect | 5.35% | High-Yield Savings ($5k min opening deposit) - Account review | |
| Climate First Bank | 5.34% | Choice Personal Money Market ($50k min/$10m max) (rate guaranteed until June 1, 2024) - Account review | |
| Veritex Bank | 5.34% | Max Savings (Only available through MaxMyInterest.com) - Account review | |
| BluPeak Credit Union | 5.33% ($2.5k min; $100 min opening deposit) | Max Money Market Account - Account review | |
| Vio Bank | 5.30% | Cornerstone Money Market - Account review | |
| First Mid Bank & Trust | 5.30% ($1 min) | Money Market Deposit Account via Raisin (*NTS) - Account review | |
| Hanover Bank | 5.30% ($1 min) | Money Market Deposit Account via Raisin - Account review | |
| Ivy Bank | 5.30% ($2.5k - $1m), 0.05% ($10) | High-Yield Savings (rate guaranteed through 6/30/2024) - Account review | |
| Ponce Bank | 5.28% ($1 min) | Money Market Deposit Account via Raisin - Account review | |
| TAB Bank | 5.27% ($1 min) | High Yield Savings - Account review | |
| AVB Bank | 5.27% ($1 min) | High Yield Savings Account via Raisin (*NTS) - Account review | |
| Customers Bank | 5.26% ($1 min) | High Yield Savings Account via Raisin - Account review | |
| CloudBank 247 | 5.26% ($1 min) | High Yield Savings Account via Raisin - Account review | |
| Dayspring Bank | 5.26% ($1 min) | Money Market Deposit Account via Raisin - Account review | |
| CFBank | 5.26% ($1 min) | High Yield Savings Account via Raisin - Account review | |
| Western Alliance Bank | 5.26% ($1 min) | High Yield Savings Account via Raisin - Account review | |
| American First Credit Union | 5.26% ($1 min) | Money Market Deposit Account via Raisin - Account review | |
| DR Bank | 5.26% ($1 min) | High Yield Savings Account via Raisin - Account review | |
| OptimumBank | 5.26% ($1 min) | Money Market Deposit Account via Raisin - Account review | |
| UNCLE Credit Union | 5.26% ($1 min) | Money Market Deposit Account via Raisin - Account review | |
| TotalDirectBank | 5.26% ($5k min) | Direct Money Market Deposit Account (not available in FL) - Account review | |
| Jenius Bank | 5.25% (no min) | Jenius Savings Account (not available in HI or NM) - Account review | |
| UFB Direct | 5.25% | UFB Secure Money Market - Account review | |
| UFB Direct | 5.25% | UFB Secure Savings - Account review | |
| Newtek Bank | 5.25% | Personal High Yield Savings - Account review | |
| WECU | 5.25% ($1 min) | High Yield Savings Account via Raisin - Account review | |
| Harborstone Credit Union | 5.25% ($1 min) | Money Market Deposit Account via Raisin - Account review | |
| Evergreen Bank Group | 5.25% ($100 min opening) | High-Yield Online Savings - Account review | |
| CFG Bank | 5.25% ($1k) | High Yield Money Market Account - Account review | |
| Banesco USA | 5.25% ($300 min balance) ($2.5k min opening) | BanesFlex Money Market Promo - Account review | |
| Amalgamated Bank | 5.25% ($10k min balance), 1.00% (up to $9,999.99) ($100 min opening) | Money Market Account - Account review | |
| SkyOne Credit Union | 5.24% ($1 min) | Money Market Deposit Account via Raisin - Account review | |
| NASB | 5.24% ($25k min) | Interest Savings - Account review | |
| State Bank of Texas (SBT) | 5.22% ($100k min, new money only) | Jumbo Money Market - Account review | |
| Upgrade | 5.21% ($1k min) | Premier Savings (deposits held by Cross River Bank) Account review | |
| Republic Bank of Chicago | 5.21% ($2.5k min opening) | Digital Money Market (not available in IL, IN, MI, or WI) - Account review | |
| RBMAX | 5.20% ($1 min) | High Yield Savings Account via Raisin - Account review | |
| Generations Bank | 5.18% ($1 min) | Money Market Deposit Account via Raisin - Account review | |
| EverBank | 5.15% | Performance Savings - Account review | |
| RBMAX | 5.15% ($250k max) | Max Interest Savings (division of Republic Bank & Trust Company) | |
| Blue Federal Credit Union | 5.15% ($1 min) | Money Market Deposit Account via Raisin - Account review | |
| Bread Financial | 5.15% ($100 min) | High-Yield Savings - Account review | |
| Popular Direct | 5.15% ($100 min opening) | Popular Direct Select Savings - Account review | |
| Nelnet Bank | 5.13% ($1 min) | High Yield Savings Account via Raisin (*NTS) - Account review | |
| Mission Valley Bank | 5.12% ($1 min) | Money Market Deposit Account via Raisin - Account review | |
| Bask Bank | 5.10% (no min) | Bask Interest Savings Account - Account review | |
| BMO Alto | 5.10% | Online Savings Account Account review | |
| OMB Bank | 5.08% ($5k min) | High Interest Online Savings - Account review | |
| Primis Bank | 5.07% ($1k min) | Primis Savings Account Account review | |
| The State Exchange Bank | 5.05% ($1 min) | High Yield Savings via Raisin - Account review | |
| CIT Bank | 5.05% ($5k), 0.25% (up to $5k) | Platinum Savings - Account review | |
| iGObanking.com | 5.05% ($25k min) | iGOmoneymarket, new accounts and new money only - Account review | |
| BankPurely | 5.05% ($25k min) | PurelyMoneyMarket - Account review | |
| Credit One Bank, N.A. | 5.05% ($100k min) | Jumbo High Yield Savings Account - Account review | |
| Lemmata Savings Bank | 5.03% ($1 min) | Money Market Deposit Account via Raisin - Account review | |
| CIBC Bank USA | 5.01% | Agility Savings Account - Account review | |
| Salem Five Direct | 5.01% (up to $1m) | eOne Savings, new customers only - Account review | |
| LendingClub Bank | 5.00% | High-Yield Savings - Account review | |
| Quontic Bank | 5.00% | Personal Money Market (all balances) - Account review | |
| Virtual Bank | 5.00% | eMoney Market Special - Account review | |
| DollarSavingsDirect | 5.00% | Dollar Savings Account - Account review | |
| Laurel Road (a brand of KeyBank, N.A.) | 5.00% ($2m max) | Laurel Road High Yield Savings Account - Account review | |
| Merchants Bank of Indiana | 5.00% (up to $1m) | Money Market Account | |
| CommunityWide Federal Credit Union | 5.00% (penalty-free withdrawals first 5 days of each month) | High Rate Quarterly Funds Account - Account review | |
| ZYNLO Bank | 5.00% | Tomorrow Savings - Account review | |
| ZYNLO Bank | 5.00% (up to $250k) 0.10% ($250k+) | Money Market - Account review | |
| FitnessBank | 5.00% ($250k max) (Requires using step tracker app and averaging 12.5k steps/daily, extra 10 bps with checking and debit card usage) | Fitness Savings Account - Account review | |
| Greenwood Credit Union | 5.00% ($1 min) | High Yield Savings Account via Raisin - Account review | |
| Jovia Financial Credit Union | 5.00% ($5 min) | Online Savings - Account review | |
| Rising Bank | 5.00% ($1k min) | High Yield Savings - Account review | |
| Langley Federal Credit Union | 5.00% ($1m), 4.00% ($500k), 2.40% ($250k), 2.00% ($100k), 1.40% ($25k) | Platinum Money Market Savings - Account review | |
| Citizens State Bank | 4.95% ($1 min) | High Yield Savings Account via Raisin - Account review | |
| GreenState Credit Union | 4.95% ($1 min) | High Yield Savings Account via Raisin - Account review | |
| Northern Bank Direct | 4.95% ($5k min) | Money Market Premier - Account review | |
| First Foundation Bank | 4.90% ($5m max) | Online Money Market Account - Account review | |
| First Foundation Bank | 4.90% | Online Savings - Account review | |
| Adda Bank | 4.90% ($1 min) | High Yield Savings Account via Raisin - Account review | |
| Quontic Bank | 4.82% | Max Savings (Only available through MaxMyInterest.com) - Account review | |
| My eBanc | 4.81 ($100k), 3.90% (up to $100k) | SuperSaver Money Market Account - Account review | |
| ValleyDirect | 4.80% | Online Savings - Internet bank, deposits held by Valley Bank | |
| First Mid | 4.80% ($1 min) | High Yield Savings Account via Raisin - Account review | |
| FNBO Direct | 4.75% | Online Savings (not accepting new applications) - Account review | |
| Synchrony Bank | 4.75% | High Yield Savings - Account review | |
| Milli Bank | 4.75% | Savings Account (Savings and Jars, app-based mobile bank, deposits held by First National Bank of Omaha) - Account review | |
| mph.bank | 4.70% ($1 min) | Money Market Deposit Account via Raisin - Account review | |
| CNB Bank Direct | 4.70% ($25k min/$2m max) | Premium Money Market - Account review | |
| ConnectOne Bank | 4.70% ($250k+), 4.60% ($2.5k) | Connection Plus Savings - Account review | |
| Sallie Mae Bank | 4.65% | Money Market Account - Account review | |
| USALLIANCE Financial | 4.65% ($500) | High Dividend Savings - Account review | |
| PNC Bank | 4.65% ($1 min) | High Yield Savings (Not available in all states) | |
| CIT Bank | 4.65% ($100 min) | Savings Connect - Account review | |
| SoFi Bank, N.A. | 4.60% (w/direct deposit), 1.20% (w/o direct deposit) | SoFi Checking and Savings | |
| CNB Bank Direct | 4.60% ($1 min) | High Yield Savings - Account review | |
| Liberty Savings Bank | 4.60% ($1 min) | High Yield Savings via Raisin - Account review | |
| Lafayette Federal Credit Union | 4.58% ($20k), 4.27% ($50) | Preferred Savings | |
| Lafayette Federal Credit Union | 4.58%-4.99% ($50k min to open) | Premier Savings (blended APYs) | |
| Marcus by Goldman Sachs | 4.50% | High-Yield Online Savings Account (additional 10 bps for AARP members) - Account review | |
| Sallie Mae Bank | 4.50% | High Yield Savings - Account review | |
| Quontic Bank | 4.50% | High Yield Savings - Account review | |
| Prime Alliance Bank | 4.50% ($1 min) | Personal Savings - Account review | |
| Prime Alliance Bank | 4.50% ($1 min) | Personal Money Market - Account review | |
| Border Bank | 4.50% ($1 min) | Money Market Deposit Account via Raisin - Account review | |
| Citizens Access | 4.50% ($5k min) | Online Savings Account - Account review | |
| CoVantage Credit Union | 4.50% ($750k), 4.00% ($500k), 3.60% ($250k), 3.00% ($100k), 2.50% ($25k), 0.85% (up to $25k) | Money Market Account | |
| Citi | 4.45% | Citi Accelerate Savings Account (Not available in all states) | |
| CFSB (Colorado Federal Savings Bank) | 4.45% ($50k min) | Premier Savings (New customers) - Account review | |
| Continental Bank | 4.41% ($1 min) | High Yield Savings Account via Raisin - Account review | |
| Live Oak Bank | 4.40% ($5 million max) | High Yield Savings - Account review | |
| CFSB (Colorado Federal Savings Bank) | 4.40% | High Yield Savings - Account review | |
| American Express National Bank | 4.35% | High Yield Savings - Account review | |
| Capital One | 4.35% | 360 Performance Savings - Account review | |
| Affirm | 4.35% | Affirm Savings (deposits held by a partner bank) | |
| Barclays | 4.35% | Online Savings - Account review | |
| MySavingsDirect | 4.35% | MySavings Account - Account review | |
| EverBank | 4.30% (up to $250k), 4.30% ($250k+) | Yield Pledge Money Market (1 year intro APY) - Account review | |
| EverBank | 4.30% ($100k), 4.05% ($50k), 3.75% (up to $50k) | Yield Pledge Money Market (ongoing APY) - Account review | |
| Ally Bank | 4.25% | Money Market Account - Account review | |
| Ally Bank | 4.25% | Online Savings - Account review | |
| SFGI Direct | 4.26% | SGFI Direct Savings Account - Account review | |
| Quorum Federal Credit Union | 4.25% | HighQ Savings Account - Account review | |
| Smarty Pig | 4.25% | SmartyPig Savings - Account review | |
| E*TRADE from Morgan Stanley | 4.25% | Premium Savings Account (sweeps account) - Account review | |
| Discover Bank | 4.25% | Online Savings - Account review | |
| Connexus Credit Union | 4.15% ($1m), 3.77% ($500k), 3.50% ($250k), 3.25% ($100k), 3.01% ($20k), 0.25% ($1k) | Money Market Account (Active checking requirement has been removed) - Forum post | |
| MutualOne Bank | 4.07% ($20k min) | Mo Premium Savings - Account review | |
| Discover Bank | 4.05% ($100k min), 4.00% ($2.5k) | Money Market - Account review | |
| EmigrantDirect.com | 4.00% | AmericanDream Savings Account - Account review | |
| Bellco Credit Union | 4.00% ($50k) 3.45% ($10k) | Premier Money Market Account | |
| Spectrum Credit Union | 4.00% ($100k), 3.90% ($50k), 3.80% ($25k), 3.75% ($2.5k), 0.75% (<$2.5) | MarketEdge Money Market - Account review | |
| American Heritage Credit Union | 3.75% ($10k min) | High Yield Savings | |
| State Department Federal Credit Union | 3.56% ($250k), 2.02% ($100k), 1.51% ($50k), 1.26% ($25k) | Premier Money Management Shares - Account review | |
| Idabel National Bank | 3.50% ($1 min) | Money Market Deposit Account via Raisin - Account review | |
| ConnectOne Bank | 3.50% ($25k), 3.40% (up to $25k) | Connect Money Market - Account review | |
| Luana Savings Bank | 3.35% ($750k), 3.20% ($250k), 3.04% ($100k), 2.89% ($50k), 2.73% ($2.5k) | Money Market | |
| Credit Union 1 | 3.30% (new money required) | High Yield Savings | |
| Andrews Federal Credit Union | 3.25% (up to $250k), 1.24% ($250k+) | Celebration Money Market - Account review | |
| Revolut | 3.25% | Savings Vault - subscription rate (deposits held by Metropolitan Commercial Bank) - Account review | |
| Northpointe Bank | 3.25% ($25k), 0.35% ($5k), 0.25% ($2.5k min) | Ultimate Money Market - Account review | |
| Alliant Credit Union | 3.10% ($100 min) | High-Rate Savings - Account review | |
| PenFed Credit Union | 3.00% | Premium Online Savings Account review | |
| Varo | 3.00% (5.00% up to $5k w/chk requirements) | Varo Savings - Account review | |
| Dow Credit Union | 2.91% ($500k), 2.69% ($100k), 2.46% ($50k), 1.89% (up to $50k) | Premium High Yield Deposit - Account review | |
| Amalgamated Bank | 2.75% | Online Savings Special (6-month rate guarantee) - Account review | |
| The Federal Savings Bank | 2.50% ($2k min) | Online Money Market Promo - Account review | |
| T-Mobile Money | 2.50% (4.00% up to $3k w/checking requirements) | Checking Account (deposits held by a partner bank) (1.50% effective July 15, 2022) - Account review | |
| Veridian Credit Union | 2.45% ($1m) 2.25% ($500k), 2.05% ($250k), 1.85% ($100k), 1.65% ($50k), 1.45% ($2.5k) | Premier Money Market - Account review | |
| Great Lakes Credit Union | 2.40% ($1 min) | Money Market Deposit Account via Raisin - Account review | |
| Synchrony Bank | 2.25% | Money Market - Account review | |
| Security State Bank (KS) | 2.09% ($110k), 2.00%-2.09% ($100k+), 0.75% (under $100k) | Investment Savings Account (linked Investment Checking required), APY is average of Savings and Checking, 0.60%+ APY assumes Savings balance of at least $100k - Account review | |
| Chime | 2.00% (no min/max, active checking required) | Chime Savings Account (deposits held by a partner bank) - Account review | |
| MapleMark Bank | 2.00% ($25k min opening) | Platinum Money Market - Account review | |
| Bethpage Federal Credit Union | 2.00% ($250k), 1.50% ($100k), 1.15% ($50k), 1.00% ($500), 0.10% (up to $499) | Money Market | |
| NASA Federal Credit Union | 1.95% ($100k), 1.85% ($50k), 1.65% (up to $50k) | Premier Advantage Money Market - Account review | |
| CIT Bank | 1.55% ($100 min) | Money Market - Account review | |
| State Bank of India (IL) | 1.50% ($5k min) | Money Market | |
| Bank5 Connect | 1.50% ($100 min) | High Interest Savings - Account review | |
| Freedom Northwest Credit Union | 1.50% ($15k+), 0.75% ($10k+), 0.50% ($5k+), 035% (up to $5k) | Rise Money Market (checking account w/$15k min balance required, no online application, small credit union) - Account review | |
| Customers Bank | 1.50% ($25k min) | Ascent Money Market Savings | |
| Banesco USA | 1.35% ($100 min) | BanesGrow Savings Account Account review | |
| Banesco USA | 1.35% ($2.5k-$1m) | BanesFlex Money Market Account - Account review | |
| Vio Bank | 1.10% | Online High Yield Savings - Account review | |
| OMB Bank | 1.00% (up to $100k) | High Interest Savings - Account review | |
| U.S. Postal Federal Credit Union | 1.00% (1.10% with relationship rewards) | IRA Savings - See review | |
| State Bank of India (IL) | 1.00% ($500 min) | Savings Account | |
| SkyOne Credit Union | 1.00% ($1k min) | Sky-high Savings | |
| CIT Bank | 1.00% ($25k min) | Savings Builder - Account review |
*New to Summary
No-Penalty CDs
| Institution | APYs | Notes |
|---|---|---|
| Climate First Bank | 5.34% ($500 min) | 6-month No Penalty CD Special (unlimited penalty-free withdrawals) - Account review |
| Technology Credit Union | 5.25% ($1 min) | 5-month No Penalty CD via Raisin - Account review |
| OptimumBank | 5.15% ($1 min) | 5-month No Penalty CD via Raisin - Account review |
| Ponce Bank | 5.15% ($1 min) | 4-month No Penalty CD via Raisin - Account review |
| Mission Valley Bank | 5.15% ($1 min) | 3-month No Penalty CD via Raisin - Account review |
| Blue Federal Credit Union | 5.10% ($1 min) | 9-month No Penalty CD via Raisin - Account review |
| USALLIANCE Financial | 5.00% ($500 min) | 11-month No Penalty CD Special - Account review |
| SkyOne Federal Credit Union | 5.00% ($1 min) | 12-month No Penalty CD via Raisin - Account review |
| Freedom Bank | 5.00% ($1 min) | 9-month No Penalty CD via Raisin - Account review |
| M.Y. Safra Bank | 5.00% ($5k min) | 13 Month MYSB Direct Online No-Penalty CD - Account review |
| All In Credit Union | 4.96% ($100k min) | 9-month Jumbo No Penalty CD (one penalty-free withdrawal) - Account review |
| Freedom Bank | 4.95% ($1 min) | 12-month No Penalty CD via Raisin - Account review |
| All In Credit Union | 4.91% ($1k min) | 9-month No Penalty CD (one penalty-free withdrawl) - Account review |
| CIT Bank | 4.90% ($1k min) | 11-month No-Penalty CD - Account review |
| WECU | 4.90% ($1 min) | 5-month No Penalty CD via Raisin - Account review |
| GreenState Credit Union | 4.85% ($1 min) | 12-month No Penalty CD via Raisin - Account review |
| Sallie Mae Bank | 4.75% ($1 min) | 14-month No Penalty CD via Raisin - Account review |
| WECU | 4.75% ($1 min) | 12-month No Penalty CD via Raisin - Account review |
| Credit Human | 4.75% ($5k) | 12-month Liquid CD (two penalty-free withdrawal, unlimited additional deposits) - Account review |
| Sallie Mae Bank | 4.70% ($1 min) | 10-month No Penalty CD via Raisin - Account review |
| Marcus by Goldman Sachs | 4.70% ($500 min) | 7-month No Penalty CD - Account review |
| Marcus by Goldman Sachs | 4.70% ($500 min) | 11-month No Penalty CD - Account review |
| Marcus by Goldman Sachs | 4.70% ($500 min) | 13-month No Penalty CD - Account review |
| Marcus by Goldman Sachs | 4.60% ($500 min) | 8-month No Penalty CD (AARP members only) - Account review |
| Chartway Federal Credit Union | 4.25% ($500 min) | 12-month No Penalty CD (early closure only) - Account review |
| Ally Bank | 4.00% (no min) | No-Penalty 11-month CD - Account review |
| CFSB (Colorado Federal Savings Bank) | 3.50% ($5k min) | 11-month No Penalty CD - Account review |
| Bellco Credit Union | 3.40% ($2.5k min) | 30-month Smart Move CD - Account review |
| Bellco Credit Union | 3.40% ($2.5k min) | 24-month Smart Move CD - Account review |
| My eBanc | 3.30% ($100k), 3.19% ($10k) | 11-month Online Flex Time Deposit - Account review |
| Bellco Credit Union | 3.15% ($2.5k min) | 36-month Smart Move CD - Account review |
| mph.bank | 3.00% ($1 min) | 6-month No Penalty CD via Raisin - Account review |
| Synchrony Bank | 0.25% (no min) | 11-month No Penalty CD - Account review |
| Citi | 0.05% ($500 min) | 12-month No Penalty CD |
Reverse Tier Savings/Money Market Accounts/Checking:
| Institution | APYs | Notes |
|---|---|---|
| Michigan State University Credit Union | 5.25% (up to $1k), 3.75% ($1k-$2k), 1.31% ($2k+) | Savings Builder - Account review |
| Elevault | 5.13% (up to $50k max balance) | Vault - Account review |
| Blue Federal Credit Union | 5.00% ($25-$1k), 1.00% ($1k-$5k), 0.50% ($5k-10k), 0.25% ($10k-$50k), 0.15% ($50k+) | Accelerated Savings - Account review |
| All America Bank | 4.90% (up to $100k), 0.50% ($100k+) | Mega Money Market Account - Account review |
| Redneck Bank | 4.90% (up to $100k), 0.50% ($100k+) | Mega Money Market Account |
| Garden Savings Federal Credit Union | 4.07% (up to $15k), 1.00% ($15k+) | Accelerate Savings |
| Affinity Plus Federal Credit Union | 4.00% (up to $25k), 3.50% ($25k+) | Superior Money Market (min $500 direct deposit into any account) |
| Affinity Federal Credit Union | 4.00% (up to $10k), 1.00% ($10k+) | SmartStart Savings - Account review |
| NuVision Federal Credit Union | 4.00% (up to $1k), 2.00% ($1k-5k), 1.00% ($5k-$10k), 0.50% ($10k-$25k), 0.20% ($25k+) | Advantage Choice Money Market |
| Workers Credit Union | 3.56% (up to $1k), 0.55% ($1k-$2k), 0.60% ($2k-$3k), plus 13 more rate tiers (0.65%-1.26% in 5 bps increments) | SaveUp Savings - Account review |
| SafeAmerica Credit Union | 3.10% (up to $2k), 1.10% ($2k-$5k), 0.60% ($5k-$10k), 0.55% ($10k+) | Blended Rate Money Market |
| Porte | 3.00% (up to $15k), 0.20% ($15k+) | Savings Account, Checking with one-time direct deposit required (deposits held by a partner bank) - Account review |
| Dover Federal Credit Union | 2.00% (up to $50k), 1.50% ($50k+), 1.25% ($100k+), 0.50% ($250k+) | High Yield Savings |
| Patelco Credit Union | 2.00% (up to $2k), 1.50% ($2k-$5k), 1.00% ($5k-$10k), 0.25% ($10k-$50k), 0.20% ($50k-$100k), 0.10% ($100k-$100m) | Money Market Select Account - Account review |
| Axos Bank | 0.61% (up to $25k), 0.25% ($25k to $100k), 0.15% ($100k+) | High Yield Savings - Account review |
Reward Checking Accounts:
- Noteworthy Accounts Available Nationwide:
| Institution | APYs | Notes |
|---|---|---|
| OnPath Federal Credit Union | 7.00% (up to $10k) | Rewards High-Yield Checking - Account review |
| La Capitol Federal Credit Union | 6.25% (up to $10k), 0.72% ($10k+) | Choice Checking |
| Pelican State Credit Union | 6.05% (up to $20k), 0.50% ($10k+) | Kasasa Cash - Account review |
| Andrews Federal Credit Union | 6.00% (up to $25k) | Kasasa Cash - Account review |
| Credit Union of New Jersey | 6.00% (up to $25k), 0.75% ($25k+) | Kasasa Cash - Account review |
| FitnessBank | 6.00% (up to $25k), 0.25% ($25k+) (requires using step tracker app and averaging 10k steps/daily) | Elite Checking Account - Account review |
| Orion Federal Credit Union | 6.00% (up to $10k), 2.34%-5.06% ($10k+) | Premium Checking - Account review |
| Community Bank (TN) | 5.35% (up to $20k), 0.25% ($20k+) | Community Advantage Checking - Account review |
| Credit Union 1 | 5.25% (up to $10k), 0.01% ($10k+) | High Yield Checking |
| Cap Ed Federal Credit Union | 5.25% (up to $10k), 0.10% ($10k+) | High Yield Checking |
| Genisys Credit Union | 5.25% (up to $7.5k), 0.05% ($7.5k+) | Genius Checking - Account review |
| All America Bank | 5.15% (up to $15k), 0.50% ($15k+) | Ultimate Rewards Checking |
| Redneck Bank | 5.15% (up to $15k), 0.50% ($15k+) | Redneck Rewards Checking |
| Garden Savings Federal Credit Union | 5.12% (up to $15k), 0.15% ($15k+) | Platinum Checking |
| Keesler Federal Credit Union | 5.00% (up to $25k), 0.50% ($25k+) | Kasasa Cash (easy membership in AL, LA, MS) - Account review |
| Ideal Credit Union | 5.00% (up to $20k), 0.05% ($20k+) | High Yield Checking - Account review |
| First Tech Federal Credit Union | 5.00% (up to $15k), 0.10% ($15k+) | First Tech Rewards Checking |
| Western Vista Federal Credit Union | 5.00% (up to $15k), 0.12% ($15k+) | Panorama Checking - Account review |
| Consumers Credit Union | 5.00% (up to $10k), 0.20% ($10k-$25k), 0.10% ($25k+) | Rewards Checking Tier A- debit card and $1k credit card requirements (Changes effective May 2020) |
| Great Lakes Credit Union | 5.00% (up to $10k), 0.05% ($10k+) | Free Checking Tier 3 - 40+ debit card transactions |
| Presidential Bank | 4.63% (up to $25k), 3.63% ($25k+) | Advantage Checking - Account review |
| First Bank | 4.59% (up to $25k), 0.10% ($25k+) | First Performance Checking (available in CA, IL, MO) - Account review |
| Bellco Credit Union | 4.50% (up to $25k), 0.25% ($25k+) | Boost Interest Checking - Account review |
| Market USA Federal Credit Union | 4.50% (up to $15k), 0.01% ($15k+) | VIP Checking Platinum Tier - Account review |
| Signature Federal Credit Union | 4.00% (up to $40k), 0% ($40k+) | High-Yield Checking |
| Northwest Federal Credit Union | 4.00% (up to $25k), 0.50% ($25k+) | Dividend Rewards Checking - Account review |
| Evergreen Bank Group | 4.00% (up to $25k), 0.25%% ($20k+) | Evergreen Free Rewards Checking |
| Veridian Credit Union | 4.00% (up to $20k) | Premium Plus Checking - Account review |
| TruStone Financial Credit Union | 4.00% (up to $20k), 0.10% ($20k+) | TruRate Checking - Account review |
| Consumers Credit Union | 4.00% (up to $10k), 0.20% ($10k-$25k), 0.10% ($25k+) | Rewards Checking Tier B- debit card and $500 credit card requirements - (Changes effective May 2020) |
| Department of Commerce Federal Credit Union | 3.50% (up to $20k), 0% ($20k+) | Performance Checking - Account review |
| Liberty Federal Credit Union | 3.45% (up to $20k), 0.00% ($20k+) | Vertical Checking - Account review |
| Axos Bank | 3.30% (up to $50k), 0.00% ($50k+) | Rewards Checking |
| Wings Financial Credit Union | 3.04% (up to $25k), 0.10% ($25k+) | High Yield Checking - Account review |
| Expedition Credit Union | 3.04% (up to $20k), 0.10% ($20k+) | High Yield Checking |
| Lake Michigan Credit Union | 3.00% (up to $15k), 0.00% ($15k+) | Max Checking |
| Consumers Credit Union | 3.00% (up to $10k), 0.20% ($10k-$25k), 0.10% ($25k+) | Rewards Checking Tier C - debit card with NO credit card requirements (Changes effective May 2020) |
| Great Lakes Credit Union | 2.75% (up to $10k), 0.05% ($10k+) | Free Checking Tier 2 - 20-39 debit card transactions |
| Union Bank | 2.07% (blended APY up to $25k), 0.03% ($25k+) | 1-2-3 Rewards Checking - Account review |
| Heritage Bank | 2.02% (up to $100k), 0.14% ($100k+) | eCentive Checking Account |
| Elements Financial | 2.00% (up to $20k), 0.10% ($20k+) | High Interest Checking - Account review |
| Connexus Credit Union | 1.75% (up to $25k), 0.25% ($25k+) | Xtraordinary Checking |
| Industrial Bank | 1.47% (up to $15k), 0.20% ($15k+) | Kasasa Cash |
| BankFirst | 1.25% (up to $15k), 0.15% ($15k+) | Interest Checking |
| Quontic Bank | 1.10% (all balances) | High Interest Checking - Account review |
| Bay State Savings Bank | 0.30% (up to $20k), 0.05% ($20k+) | Interest Checking - Account review |
Certificates of Deposit:
- Best CD Rates (Nationwide and by State)
- Best IRA CD Rates (Nationwide and by State)
- Survey of the Best CD Rates (Nationwide and Local)
Bank Account Alternatives - May Not Be FDIC Insured
| Institution | APYs | Notes |
|---|---|---|
| Ford Interest Advantage | 5.50% rate (all balances) | Ford Interest Advantage review |
| GM Financial Right Notes | 5.50% rate (all balances, $500 min opening deposit) | |
| Dominion Energy DERI | 5.50% rate (all balances) | |
| Betterment | 5.50% (new customer promo), 4.75% (ongoing) Betterment Everyday Cash Reserve | Cash sweep program with partner banks |
| Duke Energy PremierNotes | 5.40% rate ($50k+), 5.25% rate ($10k+), 5.20% rate (less than $10k) | Duke Energy PremierNotes review |
| Vanguard Federal Money Market Fund | 5.27% 7-day yield | |
| Fidelity Money Market Fund | 5.03% 7-day yield | |
| Wealthfront | 5.00% Cash Account | Cash sweep program with partner banks |
| M1 Finance | 5.00% (all balances, $125 annual fee) | High Yield Savings (deposits held by partner banks) |
| Vanguard Municipal Money Market Fund | 3.25% 7-day yield | |
| Fidelity Municipal Money Market Fund | 3.19% 7-day yield |
Accounts Removed, No Longer Available
| First Resource Bank | 5.29% ($1 min) | Money Market Deposit Account via Raisin - Account review |
| Prism Bank | 5.28% ($1 min) | Money Market Deposit Account via Raisin - Account review |
| First Mid Bank & Trust | 4.82% ($1 min) | 12-month No Penalty CD via Raisin - Account review |
Btw, Customers Bank YieldShield savings account has an APY of 5.14% with a $25K minimum.
Contrariwise, I agree with others here that a Trump victory will mitigate in favor of lower CD interest rates. Trump's instincts lean in direction of lower rates; always have.
This is not a pro-Biden or a pro-Trump post. All I'm saying is the winner will matter to us savers and CD purchasers. And I'll be darned if I know at this point which man will prevail. This is making my current day to day CD investment decisions much more challenging.
And Real interest rates were better under the Trump administration than under the Biden administration largely because of the lower inflation during the Trump administration.
But there is another important factor. The Trump tax cuts you are enjoying will automatically expire in 2026 unless they are renewed. Therefore the next president and congress will determine whether your taxes will go up or not.
Which president do you think has a better chance of keeping the Trump tax cuts in place?
Interest rates aren't what counts. What counts is what you have left after taxes and inflation. And if the factual record means anything, President Trump is by far the better bet.
The latest thread Forum page provides a convenient list of the latest Forum postings. To keep this page useful, please avoid political topics. The focus should be on deposit accounts, rates and financial institutions.
Absurd, outrageous insinuation, but also quite humorous coming from someone who regularly participates in the political discourse. As with others of your political persuasion you never seem to have a problem with political input into discussions unless the views expressed fail to conform with your own. Then you go ballistic.
But I can see how you get tired of losing on every topic and would like to see the discussions discontinued. It must be exhausting for you.
The interests of savers and depositors cannot be separated from the political environment. To do so would leave a hollow shell of superficial, myopic understanding of the topics that are important to depositors.
And that's why I believe that discussion of politics relevant to the issues should be part of the mix. I think I have convinced a significant percentage of the participants here of this.
Based on milty's comment above, it looks like I've even convinced him. :)
I still cling to the hope against hope that he is redeemable although I am afraid that you, with your obnoxious comments such as this, have crossed the line.
I have never started a forum topic, let alone a political one, you on the other hand are nonstop. Once in a while would be okay but go check how many forum posts are started by you. I agree I don't help the situation but without your constant political bullsh#t it wouldn't happen .. you're the only one that starts it all and you not realizing that is par for the course, there's quite a bit you don't realize.
"But I can see how you get tired of losing on every topic and would like to see the discussions discontinued. It must be exhausting for you."
And you're delusional.
And agree…the less politics the better!
I have to admit, I'm a bit sad to hear your Blog will no longer feature the latest bank deals. I know the Promotions Forum area is another place for such things, but the forums easily get clogged with politics and other unrelated topics to wade through and ignore, whereas your blog posts have everything one needs to know about any deal in one place. And even when a forum thread IS on topic with a deal, we don't gather as much relavant information as you always do with your blog posts. Also, for those who, weeks or months later, want to quickly find info about how a place operates (for example, if they are part of Shared Branch, if they compund daily or quarterly, etc), using Google to find previous Blog Posts on a place is a great resource, which will disappear with everything just being Forum posts now.
Still, I know that running DA must take a huge amount of your time, and can understand the reason for the change. I hope that as you move your deal alerts from blog posts over to the forums, you keep all the necessary info you've always had in your blog posts.
As always, thanks so much for this great website. Everyone one of us here is better off because of it!
I hope you may reconsider one aspect of your refocus - the decision you made regarding the deals aspect of your decision. Relying on the forum posts of users while well intentioned is hit or miss. Given you and your team are pulling data from all these institutions to update the rates tables anyway it’s a much more thorough way to spot a deal aberration of noteworthiness to bring to readers attention than attempting to rely on good hearted forum posters who may or may not see it or be so motivated to post it to alert all.
Certainly the weekly summaries on liquid rates, CD rates, and Fed decisions are a time effort and would be missed and understandably could be cut back but please don’t eliminate the deals alerts! Perhaps a short blurb in the deal alert noting it with a redirect to the institution site for more details as some sort of compromise. This is especially true for institutions like Advancial that may accept other out of state or geography members and wouldn’t normally show up in any rate table search if it’s not in that reader’s geographical search.
Please reconsider a compromise. Hope I am speaking on behalf of many others.
Loyal faithful reader.
CDMD
And thank you Ken for the many years of leadership and professionalism in running DA.
On behalf of and For all Loyal readers who posted and or at least voted for the reponses here in this thread to date.
Much obliged for any update.
Isn’t that what’s crucial here?
Let’s hope it proves true and Ken means what he says.
Thank you for your time and attention all these years to the most valuable source of information available on CD deals: Your daily blog posts. Deposit accounts IS the Daily Blog Posts...
Everything else, doesn't come near it, and nothing can replace it. The rest of the information on this site can be found elsewhere....Obviously I too, am very sad to see it go. This blog has been very valuable for me. Again, thank you.
On the flip side, those cheers you hear arising in the background are from financial institutions nationwide. Straight up, Ken has cost them money by forcing a higher level of competition for depositors. Now when they seek to pay lower interest rates, the spotlight on that activity will have been dimmed. No other website will come forward with a successful attempt to fill Ken's shoes, because when it comes to banking savvy, Ken is a singularity.
As an example, under "best cd rates" I don't see Hughes 5.65% 17 month.... and when looking in the promotions page I don't see Hughes at all.
Frankly between this and the other media engagements I've seen Ken participate in I can imagine it must be quite a challenge. So if the subtle message is that he is lightning his workload here or perhaps even fully or mostly retiring from the site it's understandable.
But I find the lack of specificity about the plan for the future of the site concerning.
I don't see a clear explanation of how these daily deal blogs are going to be replaced with something equally as effective. If indeed Ken is fully or partially retiring from the site, I think it might end up like a small business in which the proprietor leaves. There is no replacement with the ability to fill their shoes. DA *IS* Ken Tumin and without his continued commitment it's hard to see the site delivering the same value going forward. That is meant by way of compliment to Ken not criticism.
I can imagine that an improvement in the rate tables as Ken alluded to as being helpful towards that end, a kind of do-it-yourself deal finder. But it's tricky to envision that since the current state of this feature is not all that great. I found it to be missing quite often when looking for the best deals and relied on this blog to point in the right direction.
There would also need to be specific information about the policies of each financial institution such as the type of credit checks, the types of funding allowed for new accounts, and other logistics type information that formerly appeared in these blogs. I don't see any sign that that's in the plan and even if it is have concerns that the blogs are being dropped before having that ready to go.
There seem to be a lot of blanks here about the future of the site and when you add it all together including the financial history of its parent, it leaves room for concern. I don't want to go much further than that without seeing where this is going, but envisioning the path forward without the deal blogs is difficult.
No more Licking the Bowl of DA for your "trusts" ?
Love this site. I just got off the phone with an apple help person and was having trouble signing into the NYTimes.
I ended up explaining this site to him. I was on my computer and explaining
things to him and kept saying WOW!! WOW!! OR THIS IS AMAZING.
I see no need to shut down the Forums.
No post about any topic in the Forums or anywhere else on the site is being blocked by any participant on this site. So to accuse those who wish to discuss the political aspect of deposit accounts of somehow preventing the posts of other aspects of the topic is ridiculous. It is nothing more than a bald faced attempt to silence other peoples' views so only certain views can be heard. THAT is what destroys forums, not the free and open expression of competing ideas.
I know those who wish to censor open discourse that differs with their views anywhere that it appears like to go out on a hallucinatory limb looking for any reason no matter how tortured and absurd to silence differing opinions. But this is still America and you will have to suffer through the freedom and find another scapegoat.
Everyone here should truly get real and come to terms with the reality that DA as we've previously known it is now finished, and the only question of the moment is just how useful
what remains will be to us depositors who've depended on it for so long, - which is the same as to ask where the truly essential info depositors have relied on in the "daily deals" and "weekly summary" features will be perpetuated here (and kept up to date and reliable)?
That's what's crucial, - and up to Ken to ensure if he wishes his legacy remaining untarnished.
But what you are saying is "It's not useful for me so I don't want anyone else here to be able to discuss it."
If everyone here had the same attitude no one would be able to discuss anything.
Past changes here that involve less of Kens involvement have always been bad.
End times are coming soon anyway. We should all be blowing our wealth on hookers and blow while we still can.
And as just a PS to that, I want to give a thumbs up to someone like Kaight, the flip-side of P_D, who was respectful enough to post on politics strictly in relation to how it might affect savings rates in the future, etc. Not daily GOP GloomMachine(tm)-Spam "Stock Market at an all-time high? IT'S BIDEN'S FAULT!" dribble. And by the way, people would hate it JUST AS MUCH if P_D posted daily "THINGS ARE BEAUTIFUL BECUASE OF BIDEN!!" daily posts. There will always be spammers on any board (CRYPTO! CRYPTO! EMAIL ME TODAY!) but spam isn't just from people who hit-and-run, and it's just as off-putting.
Of course I'm sure Ken stepping back had nothing to do with the constant political spamming by some, but I mention it because the (now no-longer) Daily Deals Blog Posts were the one place where one could look and find everything they want without having to look at others' personal garbage and spam in the comments section. Now any "Deals" will just be in a forum post, which unfortunately makes that impossible, so on that alone, DA will not be what it once was.
Also, with few exceptions, there's really no one else that has managed to put so many random deals up for us to see. Sure, when any of us notice a deal we post on it, but Ken was plugged in somehow, and besides re-posting some posts from users, he'd also post on daily deals in all parts of the country he found himself. That's going to be missing now.
At the same time, what people tend to forget is that creators in the public space don't belong to US, no matter how much we think that they do. They're their own person, and have their own lives to consider. Ken has spent a heck of a long time on this blog. He started it, grew it... it became popular enough to where it was "bought out" per se... yet he still remained on as the head of it for some time. He's put in his time and did his part. Hopefully he got rewarded properly for all his hard work, and we all certainly got rewarded too, by using and contributing to the site. There is a time and place to everything. If DA were to shut down tomorrow (and it will be changing considerably) I'd be sad, but I accept it. Things change. Nothing is forever. Who knows, another site might pop up. Maybe DA will find its footing and become what it was again. Maybe it won't. Either way, be thankful for what it was and accept that things don't go on indefinitely. Personally, I know if that if *I* were Ken, I'd be doing the same thing. I very much enjoy what I do, but I don't LIVE for my job. If I made something successful, was rewarded by it, and put in many, many years to it, there'd be a point where I absolutely would want to step away myself. Ken deserves that, and I wish him well.
Thank you Ken. You spent many, many years managing a site for others. You absolutely deserve to spend some time for yourself and go onto other things. Thank you. Cheers!
The blog was by far the most informative and best part of this site.
Hope that some sort of compromise might be developed.
Lafayette FCU lowered rates as well (even if more modestly).
What evidence can you offer for this surety?
That Ken is just tired seems much more likely to my mind, though I grant other explanations may be plausible.
That, for me, is what's crucial.