My eBanc Ups 12-month Online Time Deposit Rate

POSTED ON BY

Deal Summary: Online Time Deposits: 6-months (1.85% APY), 12-months (2.25% APY), 18-months (2.45% APY), 24-months (2.60% APY), 36-months (2.60% APY), $5k minimum deposit.

Availability: Internet bank

My eBanc made a decisive move in the rates race yesterday, when it added between 10-25 bps to its Online Time Deposits (OTD). The minimum opening deposit is $5k, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.60%$5k-My eBancOnline Time Deposit 36 Months
2.50%$5k-My eBancOnline Time Deposit 24 Months
2.36%$5k-My eBancOnline Time Deposit 18 Months
2.25%$5k-My eBancOnline Time Deposit 12 Months
1.85%$5k-My eBancOnline Time Deposit 6 Months
Rates as of May 23, 2018.

My eBanc also offers Jumbo OTDs, which require a $100k minimum deposit. The current rates for the Jumbo OTDs mirror those of the OTDs ($5k min), so opening a Jumbo OTD offers no rate advantage.

As stated in the Truth-In-Savings document, the Early Withdrawal Penalty reads as follows:

6 Month and 12 Month – Penalty will equal 3 months interest on the amount withdrawn.

18 Month and 24 Month – Penalty will equal 6 months interest on the amount withdrawn.

36 Month – Penalty will equal 9 months interest on the amount withdrawn.

Availability

Headquartered in Coral Gables' Miracle Mile area, My eBanc offers its services and product line through its online banking platform to U.S. citizens and residents, 18 years or older, who have a valid Social Security number.

My eBanc’s online application is time sensitive, so I have not provided a direct link.

Bank Overview

As the online division of BAC Florida Bank, My eBanc operates under BAC Florida Bank’s FDIC Certificate and shares its financial history.

BAC Florida Bank/My eBanc has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 5.72% (excellent), based on December 31, 2017 data. In the past year, the Bank has increased its total non-brokered deposits by $142.02 million, an excellent annual growth rate of 10.92%. Please refer to our financial overview of BAC Florida Bank/My eBanc (FDIC Certificate # 21265) for more details.

Established in 1973, BAC Florida Bank is part of The Pellas Group, which is based in Nicaragua. Located in Coral Gables, BAC Florida Bank is the 11th largest bank headquartered in Florida, with assets in excess of $2.09 billion. While the majority of the Bank’s customers live abroad (mainly in Latin America), its product line and services are available to virtually all customers in the U.S.

How the Online Time Deposits Compare

When compared to the 201 similar length-of-term CDs tracked by DepositAccounts.com, which are available nationwide and require a similar minimum deposit, My eBanc’s 12-months Online Time Deposit APY currently ranks first.

When compared to the 150 similar length-of-term CDs tracked by DepositAccounts.com, which are available nationwide and require a similar minimum deposit, My eBanc’s 18-months Online Time Deposit APY currently ranks second.

When compared to the 195 similar length-of-term CDs tracked by DepositAccounts.com, which are available nationwide and require a similar minimum deposit, My eBanc’s 24-months Online Time Deposit APY currently ranks first.

When compared to the 196 similar length-of-term CDs tracked by DepositAccounts.com, which are available nationwide and require a similar minimum deposit, My eBanc’s 36-months Online Time Deposit APY currently ranks second.

The above rates are accurate as of 4/12/2018.

Looking for the best CD rates, both nationwide and on your state? Please refer to our CD Rates Table page.

Related Pages: Miami CD rates, 1-year CD rates, 5-year CD rates, nationwide deals, Internet banks

Comments
Sperry8
Sperry8   |     |   Comment #1
Excellent find Ken, highly competitive CD rates!
RichReg
RichReg   |     |   Comment #2
Yes, it was a VERY competitive 1 year rate. Was.
For a whole week, I think.

Why in God's name is this happening right before my largest CDs are ready to mature??
Sperry8
Sperry8   |     |   Comment #3
Yup, rates dropped. Darn. 2.17% 1 year, 2.36% 18 mo and 2.5% 2 year.
My eBanc Hikes Rate On Super Saver MMA
Deal Summary: Super Saver Money Market, 1.50% APY on all balances, $5k minimum opening deposit.

Availability: Internet bank

As the first anniversary of its Super Saver Money Market Account (MMA) approaches, My e-Banc has upped the rate to 1.50% APY on all balances. In the past 11 months, the Super Saver MMA has experienced three rate increases, adding a total of 70 bps.

Four months after the Super Saver MMA was introduced, My eBanc added some restrictions that are still in effect.

  • Opening Deposit – while the stated...
Continue Reading
My eBanc Boosts 12-Month Jumbo Online Time Deposit
Deal Summary: 12-months Jumbo Online Time Deposit, 1.77% APY, $100k minimum deposit. 12-months Online Time Deposit, 1.70% APY, $1.5k minimum deposit.

Availability: Internet bank

My eBanc made its presence known in the rate race to the top yesterday, when it upped the rate on its 12-months Jumbo Online Time Deposit to 1.77% APY. The minimum opening deposit is $100k, with no stated balance cap.

Debuting in late 2013 with a modest 1.06% APY, the 12-months Jumbo Online Time Deposit has had nine rate increases in the...

Continue Reading
My e-BAnC's 12-Month Flex Time Deposit Has 2 Penalty-Free Withdrawals
Deal Summary: 12-months Flex Time Deposit, 1.40% APY, $10k minimum opening deposit, two penalty-free partial withdrawals permitted.

Availability: Internet bank

My e-BAnC by BAC Florida Bank (My e-BAnC) is ending the week by raising the rate on its 12-months Flex Time Deposit to 1.40% APY. (Don't be confused by the name: the Flex Time Deposit is a CD, plain and simple.) The minimum opening deposit is $10k, with no stated balance cap.

On its face, the APY is not that noteworthy, but the two...

Continue Reading
My e-BAnC Increases Super Saver Rate
Deal Summary: Super Saver (1.15% APY), $5k minimum opening deposit.

Availability: Internet bank

In early February, I wrote about My e-BAnC by BAC Florida Bank’s (My e-BAnC) Super Saver account, its new money market account which earned 1.11% APY at the time. That rate was raised slightly to 1.15% APY yesterday.

While any deposit account rate increase - large or small - is always welcomed, my enthusiasm for this week’s 4 bps increase is definitely tempered by new restrictions on the Super Saver. To quote my February...

Continue Reading
My e-BAnC Raises Jumbo Time Deposit Rates

Deal Summary: Jumbo Time Deposits (CDs) – 18-month, 1.45% APY; 24-month, 1.61% APY; 36-month, 1.81% APY; $100k minimum deposit

Availability: Internet bank

Since the beginning of the year, My e-BAnC by BAC Florida Bank has raised the rates on its Jumbo Time Deposits ($100k minimum) four times. This week’s increase has resulted in the highest rates ever for the 18-, 24-, and 36-month Jumbo Time Deposits

According to CSR, the Early Withdrawal Penalty for the 18- and 24-month Jumbo Time Deposits is 180 days interest, and 270 days for the...

Continue Reading

More Past Offers



The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact feedback@depositaccounts.com to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.