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We track the rates of more than 8,000 banks and credit unions. We also track health statistics, user reviews, promotions and editorials for many banks and credit unions. Just enter the name of the bank or credit union you wish to view rates for below and you will be taken to a page containing all the data we track for that institution.

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Recent Bank Interest Rate News

My Banking Direct Increases Money Market APY to 1.15%
Availability: Nationwide, except for residents of Arizona, Florida, New York, New Jersey, or Ohio.

About a month ago, I wrote about My Banking Direct’s rate increase on its online Money Market Checking account that occurred just days before the Federal Reserve’s December rate hike. Yesterday, My Bank Direct became the second internet bank to increase the rate on a Money Market account post-Fed rate increase, with the Money Market Checking account now earning 1.15% APY on balances over $25k (10 bps increase). Balances between $5k-$25k earn 0.75% APY,...

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Nationwide Bank (Internet Bank) Raises Rate On 24-Month CD
Availability: Nationwide (internet bank)

Ohio-based Nationwide Bank raised the rates on its 24-month CD (1.56% APY) and 60-month CD (1.90% APY) earlier this week. The minimum opening deposit to earn these APYs is $100k, with no stated balance cap. Of the two, the 24-month CD is the most competitive.

The 24-month CD was added to the product line in March 2010 and has had more than 30 rate changes since that time. The new 1.56% APY is the highest rate for the 24-month CD since December 2010.

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MidFirst Direct Has Competitive Long-Terms CDs
Availability: Online market area includes Arizona, Arkansas, California, Colorado, Florida, Missouri, New Hampshire, Nevada, New York, Oklahoma, Texas, and Wyoming.

Last week, MidFirst Direct raised the APYs on most of its CDs, with the 60-month CD (2.25% APY) and 84-month CD (2.50% APY) being the most competitive. The minimum opening deposit for either CD is $1k, with no stated balance cap.

A specific description of the Early Withdrawal Penalty (EWP) used to be included in the Certificate of Disclosure Page, but it has been replaced with,

If Your...
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CIT Bank Raises High Yield Savings APY By 10 Basis Points
Availability: Nationwide (internet bank)

CIT Bank, N.A. (CIT Bank) has just raised the rate on its High Yield Savings account to 1.05% APY. CIT Bank has become the first internet bank to raise the rate on a savings account since the Federal Reserve’s rate hike in mid-December. The 10 basis point increase places CIT Bank’s High Yield Savings in the top third of all the Savings/Money Market accounts listed in DA’s current Liquid Accounts Survey.

Since its introduction to the product line in April 2012, the High Yield...

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CD Rates Summary May 24, 2016
CD Rates Summary May 24, 2016

Last week’s release of the minutes of the Fed’s April meeting indicates a decent chance of a rate hike at the next Fed meeting on June 14-15. This is how economist Tim Duy summed up the minutes in his Fed Watch blog:

In addition to the minutes, comments from Fed officials have been suggesting that a rate hike is definitely on the table in June. However, Tim Duy still thinks there’s a better chance of the Fed postponing the rate hike until July or September.

Changes in both Treasury yields and Fed...

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Best Bank Account Interest Rates - Summary for May 17, 2016
Best Bank Account Interest Rates - Summary for May 17, 2016

Today’s inflation report increases the chance that we’ll see a Fed rate hike in June. The Labor Department reported that the CPI increased 0.4% in April, above expectations of 0.3%. The core CPI, which excludes energy and food, increased 0.2% which was inline with expectations. The increased chance of a June Fed rate hike doesn’t mean that it’s a good chance. It’s still low. According to this Wall Street Journal article:

On Wednesday the Fed will be releasing the minutes of last month’s FOMC meeting. That may provide hints of what...

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