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It’s been almost nine months since EverBank raised the rates on any of its CDs. That changed yesterday, when EverBank increased the rates on 15 Yield Pledge CDs/IRAs, ranging from 6 to 21 basis points.
The most impressive of the increases was a 21 basis point rate hike on the 3-year Yield Pledge CD (1.61% APY).
The minimum opening deposit for any of the Yield Pledge CDs is $1.5K, with no maximum balance cap. The CDs are also available as IRAs (Traditional and Roth) earning the...
UPDATE 8/9/2016: According to CSR, all deposits ($5k minimum) earn 1.26% APY at this time.
I frequently have the opportunity to introduce DA readers to new products, specials, and rate increases. This is one of the rare occasions when I can introduce a new financial institution: Popular Direct, a new internet bank under the aegis of Banco Popular North America.
Popular Direct is offering a variety of CDs (which I will discuss in a separate blog post), and the Popular Direct Savings account, which according to all...
Barclays made several CD rate changes late last week. The 5-year CD rate had a large decline falling 30 basis points to 1.75% APY. However, the shorter terms had rate increases. Barclays’ 1-year CD rate is now quite competitive at 1.25% APY. The full list of rate changes are shown below:
Thanks to DA reader, MidAtlantic, for the Forum...
UPDATE 8/2/2016: The $100 bonus has expired.
Discover Bank is offering a $100 bonus when opening a new Online Savings account, with a minimum of $15k. This promotion is for customers who have never had a Discover Bank Online Savings or Money Market account.
$100 Bonus Requirements
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...
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...