TIAA Bank
Popular Accounts at this Bank
| APY | ACCOUNT TYPE | HOW THEY COMPARE |
|---|---|---|
| 2.60% | 2-year CD | 1.68% - National Average |
| 2.52% | 18-month CD | 1.61% - National Average |
| 2.50% | 1-year CD | 1.38% - National Average |
TIAA Direct is the banking component and brand of TIAA-CREF Trust Company. The Trust Company is a subsidiary of TIAA-CREF, a Fortune 100 financial services company that was born out of an act of the New York State Legislature in 1918 to provide life insurance to college professors. TIAA Direct operates as a bank offering depository and lending products and services to individual consumers.
The bank’s products consist of an interest checking account, a high yield savings account, Money Market accounts, and Certificates of Deposit (CDs) on the deposit side, and mortgage and home equity loans on the lending side. The checking account has no minimum balance requirements and no monthly fees, and can be opened with a minimal initial deposit. Free checks, a debit card, and a competitive interest rate also come with the checking account. The high yield savings account offers one of the top interest rates nationally available and comes with no monthly fees or minimum balance requirements.
DepositAccounts.com reported that in December 2012 the bank began allowing customers to designate beneficiaries to their savings accounts. Money Market accounts offer similar options and rates to that of the savings account and allow for check writing ATM withdrawal as well. ACH transfer limits on both the savings and Money Market accounts were lowered significantly at the beginning of 2013. Three CDs are offered in term lengths of 6 months, 1 year, and 2 years. The rates on these CDs are also competitive along with TIAA Direct’s other account offerings. The bank is able to be competitive because it has no overhead costs associated with operating physical branches.
TIAA Direct online banking is a secure and convenient system through which accounts can be opened and managed. Online statements are available to be view through the system and tasks like Bill Pay, remote deposit, money transfers, and direct deposit can be accomplished. Mobile banking provides the same functions plus remote deposit via the camera of a smartphone or tablet device.
TIAA-CREF Trust Company was established in 1998 as the corporation sought to get into the retail banking business. TIAA-CREF is an acronym for Teachers Insurance and Annuity Association – College Retirement Equities Fund. TIAA Direct is the banking front of the Trust Company and is headquartered in St. Louis, Missouri. The bank manages its customers’ accounts exclusively through its online banking system and has no physical branches.
Related Posts
11/2 - Bumped Up "Our Pledge Money Markiet To 2.10% 1Yr Intro
9/21 - 1 Year CD Rate Increase To 2.65%
9/18 - TIAA Bank Ups 1-Year Yield Pledge® CD
9/15 - TIAA Bank Matches AMTRUST/NYCB, Mercantil 24 Month 2.75% APY
9/14 - 1 Yr. CD Now 2.61% APY
9/1 - Upto $500 For Adding Money To TIAA MMA Accound
3/30 - Rates Have Increased On All Terms Except 24 Months. Not Rate Leaders But Competitive
2/23 - 5 Yr CD @ 2.65% APY Plus Other CD Rate Increases
1/26 - TIAA Direct - 2% APY 1 Yr CD, 2.55% APY 5 Yr CD And Other CD Rate Hikes
1/12 - TIAA Direct - Another CD Rate Increases This Month
1/4 - TIAA Direct Ups Its CD Rates
9/15 - 12-Month CD, 1.62% APY
7/3 - TIAA Direct's CD Rates Upped To Competitive Levels
6/26 - TIAA Direct Syncs CD Rates With EverBank Following Acquisition
6/14 - TIAA Direct Has Acquired Everbank
2/17 - Another $100 Bonus For TIAA Direct High Yield Savings Account
11/16/16 - $250 Bonus For TIAA Direct Savings Account With $15,000 Deposit
11/6/16 - $100 Bonus For TIAA Direct High Yield Savings Account
8/15/16 - TIAA Direct Advertising $150 Checking Account Bonus
8/1/15 - $150 Checking Account Bonus
2/18/14 - TIAA Direct Finally Accepting New Customers But Rates Are Disappointing
12/19/13 - Another Rate Drop
10/27/13 - Stating The Status Of Backup Withholding
10/17/13 - TIAA Direct Dropped MM Yield From 0.76% To 0.60%
5/20/13 - Frozen Accounts Due To Account Inactivity
4/25/13 - TIAA Direct Drops Rates AGAIN To 0.76% APY
3/16/13 - TIAA Direct Rate Drops From 0.99% To 0.91%
1/12/13 - TIAA Direct Cuts Rates and Announces New Limits on ACH Withdrawals
10/8/12 - Update on TIAA Direct and Its Online Savings Accounts
9/14/12 - TIAA Direct- FDIC? Bank Title Trust/Pod How Long?
9/2/12 - Thisis The Notice On Their Website In Regard To Deposit Accounts
7/23/12 - TIAA Direct Stops Accepting New Customers
4/17/12 - Confirming that TIAA Direct Accounts Are FDIC Insured
4/10/12 - Update on TIAA Direct and Its Savings Account
3/17/12 - TIAA Direct Statement Shows Lower Interest Rate?
2/20/12 - TIAA-CREF Launches New Internet Bank with Top Savings Account Rate
Excellent Experience.
TIAA has offered some of the higher CD rates which is what I seek. One of my CDs matured over the weekend and they walked me through the transfer process. They added a couple of days accrued interest to the balance due to the weekend maturity and everything went smoothly. Their representatives have always been professional and thoroughly answer any questions. I hope to do more business with them soon.
TIAA Roth IRA One-Year CD Interest Rate
Though Oct. 2018 TIAA interest rate at 2.68%, I requested a Roth IRA balance be transferred to our TIAA Money Market Account. They failed to transfer the money and renewed the CD against my instruction. Though the 1-Year New CD was posted at 2.68% they gave us .07% rate lower. The same occurred the previous year. Therefore I cannot trust them and will not put more money into other CDs at this institution.
Bank Has Really Declined Since TIAA Bought It
This bank just ok when it was Everbank but I put up with it for the great interest rates. Ever since TIAA bought it the web interface has only gotten worse. The past few months the bill pay options have stopped working correctly and now I don't even have the option of paying a bunch of my credit cards automatically. The missed payments led to late fees because TIAA never notified me that they wouldn't be making these payments any more.
Customer Service acts like there's nothing wrong and they've been completely useless.
Also, their wire transfer service is terrible and expensive. TIAA is driving this place into the ground.
Disaster Online
The website has many functional problems on Apple's Safari browser. They recently replaced a well-functioning person-to-person payment service, PeoplePay, with buggy hard-to-use Zelle, which some people I pay refuse to use (I don't blame them!) Customer service is a mess. They say they will get back to you on problems and then never do. Website help is confusing because they seem to have more than one website. They recently replaced the App, but I only discovered that when stuff stopped working — no info on the change was ever sent to me and they don't know why. (I check spam everyday.) I'm starting the long slog to move my accounts elsewhere.
Data as of Q4 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 34775 |
| Year Established | 1998 |
| Employees | 3275 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.69% |
| Return on Equity - YTD | 6.35% |
| Annual Interest Income | $1.34B |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2018vs Q4 2017 | $36.90B$34.30B |
| Loans | Q4 2018vs Q4 2017 | $30.76B$28.93B |
| Deposits | Q4 2018vs Q4 2017 | $23.51B$22.94B |
| Equity Capital | Q4 2018vs Q4 2017 | $3.87B$3.65B |
| Loan Loss Allowance | Q4 2018vs Q4 2017 | $149.1MM$143.2MM |
| Unbacked Noncurrent Loans | Q4 2018vs Q4 2017 | $196.4MM$98.1MM |
| Real Estate Owned | Q4 2018vs Q4 2017 | $26.6MM$48.1MM |
This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.
Many Possible CD Rate Increases
For quick ref the 5 year is 3.01% which is no advantage over the 4 year's 3.00%
You can see all rates at https://www.tiaabank.com/banking/cd
Always verify rates and promotions with the bank or credit union. We are not TIAA Bank; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
TIAA Bank Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 1.10% | - | - | Basic Savings | |
| 1.10% | - | - | Basic Savings IRA |
TIAA Bank Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 2.15%* | - | $250k | Yield Pledge Money Market - 1st Year Intro Rate | ||
| OTHER TIERS: 2.00% → $250k - $10m | |||||
| 2.00%* | $100k* | $10m | Yield Pledge Money Market - Ongoing Rates | ||
| OTHER TIERS: 1.10% → Up to $10k | 1.20% → $10k - $25k | 1.65% → $25k - $50k | 1.75% → $50k - $100k | |||||
TIAA Bank Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 1.21%* | $50k* | $250k | Yield Pledge Checking - 1st Year Intro Rate | ||
| OTHER TIERS: 0.72% → $250k - $10m | |||||
| 0.71%* | $100k* | $10m | Yield Pledge Checking - Ongoing Rates | ||
| OTHER TIERS: 0.25% → Up to $10k | 0.46% → $10k - $25k | 0.61% → $25k - $100k | |||||
TIAA Bank CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 3.00% | $5k | $1m | 4 Year Yield Pledge CD | |
| 3.00% | $5k | $1m | 5 Year Yield Pledge CD | |
| 2.85% | $5k | $1m | 2 Year Yield Pledge CD | |
| 2.85% | $5k | $1m | 3 Year Yield Pledge CD | |
| 2.85% | $1.5k | $250k | 3.5 Year Bump Rate CD | |
| 2.83% | $5k | $1m | 2.5 Year Yield Pledge CD | |
| 2.77% | $5k | $1m | 1.5 Year Yield Pledge CD | |
| 2.75% | $1k | - | 5 Year CD | |
| 2.75% | $1k | - | 4 Year CD | |
| 2.75% | $5k | $1m | 1 Year Yield Pledge CD | |
| 2.60% | $1k | - | 2 Year CD | |
| 2.60% | $1k | - | 3 Year CD | |
| 2.58% | $1k | - | 2.5 Year CD | |
| 2.52% | $1k | - | 1.5 Year CD | |
| 2.50% | $1k | - | 1 Year CD | |
| 2.50% | $5k | $1m | 9 Month Yield Pledge CD | |
| 2.42% | $10k | $12.5m | 1 Year CDARS | |
| 2.40% | $10k | $2.5m | 2 Year CDARS | |
| 2.27% | $10k | $1m | 3 Year CDARS | |
| 2.25% | $1k | - | 9 Month CD | |
| 2.25% | $5k | $1m | 6 Month Yield Pledge CD | |
| 2.00% | $1k | - | 6 Month CD | |
| 2.00% | $5k | $1m | 3 Month Yield Pledge CD | |
| 1.98% | $10k | $12.5m | 6 Month CDARS | |
| 1.76% | $10k | $12.5m | 3 Month CDARS | |
| 1.75% | $1k | - | 3 Month CD |
TIAA Bank IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 3.00% | $5k | - | 4 Year Yield Pledge IRA | |
| 3.00% | $5k | - | 5 Year Yield Pledge IRA | |
| 2.85% | $5k | - | 2 Year Yield Pledge IRA | |
| 2.85% | $5k | - | 3 Year Yield Pledge IRA | |
| 2.85% | $1.5k | $250k | 3.5 Year Bump Rate IRA | |
| 2.83% | $5k | - | 2.5 Year Yield Pledge IRA | |
| 2.77% | $5k | - | 1.5 Year Yield Pledge IRA | |
| 2.75% | $5k | - | 1 Year Yield Pledge IRA | |
| 2.75% | $1k | - | 4 Year IRA | |
| 2.75% | $1k | - | 5 Year IRA | |
| 2.60% | $1k | - | 2 Year IRA | |
| 2.60% | $1k | - | 3 Year IRA | |
| 2.58% | $1k | - | 2.5 Year IRA | |
| 2.52% | $1k | - | 1.5 Year IRA | |
| 2.50% | $5k | - | 9 Month Yield Pledge IRA | |
| 2.50% | $1k | - | 1 Year IRA | |
| 2.25% | $5k | - | 6 Month Yield Pledge IRA | |
| 2.25% | $1k | - | 9 Month IRA | |
| 2.00% | $5k | - | 3 Month Yield Pledge IRA | |
| 2.00% | $1k | - | 6 Month IRA | |
| 1.75% | $1k | - | 3 Month IRA |
TIAA Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 501 Riverside Avenue - Jacksonville, FL 32202