Overview / Commentary
501 Riverside Avenue
Jacksonville, FL 32202

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

1 Year CD Now 2.81% Apy $50,000 Minimum - 1/15/2019


Many Possible CD Rate Increases - 1/1/2019

Personally I only track their 1 year CD so I can confirm that It is up to 2.79% APY from 2.68% which at least puts it back into the first page of results in terms of competitiveness. 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

3.05% 42M(3.5Yrs) W Bump - 12/4/2018

Min $1,500 to open ($250K maximum), and it's IRA eligible Currently earns a minimum 3.05% APY,¹ with the option to bump up once if their rates go up TIAA will not provide any notice to you when our interest rates change but our current rates are always available at TIAABank.com/banking/rates. If at any time during the term of you want to exercise the Rate Increase Option, call them during normal business hours at 888-882-3837

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Excellent Experience.

Posted by: murr9506 | Feb 13, 2019

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

Posted by: Numbers54 | Nov 1, 2018

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

Posted by: katlian | Jan 4, 2019

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

Posted by: rh1 | Mar 9, 2019

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.



Health Grade Components

FDIC Certificate #34775
Year Established1998
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.69%
Return on Equity - YTD6.35%
Annual Interest Income$1.34B
Assets and Liabilities
AssetsQ4 2018vs Q4 2017$36.90B$34.30B
LoansQ4 2018vs Q4 2017$30.76B$28.93B
DepositsQ4 2018vs Q4 2017$23.51B$22.94B
Equity CapitalQ4 2018vs Q4 2017$3.87B$3.65B
Loan Loss AllowanceQ4 2018vs Q4 2017$149.1MM$143.2MM
Unbacked Noncurrent LoansQ4 2018vs Q4 2017$196.4MM$98.1MM
Real Estate OwnedQ4 2018vs Q4 2017$26.6MM$48.1MM
  User-submitted Promotions & Notices

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.

1 Year CD Now 2.81% Apy $50,000 Minimum

leemd   |  

Many Possible CD Rate Increases

bankingar   |  
Personally I only track their 1 year CD so I can confirm that It is up to 2.79% APY from 2.68% which at least puts it back into the first page of results in terms of competitiveness.

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

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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

1.10%--Basic Savings
1.10%--Basic Savings IRA

TIAA Bank Money Market Rates

2.15%*-$250kYield Pledge Money Market - 1st Year Intro Rate
OTHER TIERS: 2.00% $250k - $10m
2.00%*$100k*$10mYield 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

1.21%*$50k*$250kYield Pledge Checking - 1st Year Intro Rate
OTHER TIERS: 0.72% $250k - $10m
0.71%*$100k*$10mYield Pledge Checking - Ongoing Rates
OTHER TIERS: 0.25% Up to $10k | 0.46% $10k - $25k | 0.61% $25k - $100k

TIAA Bank CD Rates

3.00%$5k$1m4 Year Yield Pledge CD
3.00%$5k$1m5 Year Yield Pledge CD
2.85%$5k$1m2 Year Yield Pledge CD
2.85%$5k$1m3 Year Yield Pledge CD
2.85%$1.5k$250k3.5 Year Bump Rate CD
2.83%$5k$1m2.5 Year Yield Pledge CD
2.77%$5k$1m1.5 Year Yield Pledge CD
2.75%$1k-5 Year CD
2.75%$1k-4 Year CD
2.75%$5k$1m1 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$1m9 Month Yield Pledge CD
2.42%$10k$12.5m1 Year CDARS
2.40%$10k$2.5m2 Year CDARS
2.27%$10k$1m3 Year CDARS
2.25%$1k-9 Month CD
2.25%$5k$1m6 Month Yield Pledge CD
2.00%$1k-6 Month CD
2.00%$5k$1m3 Month Yield Pledge CD
1.98%$10k$12.5m6 Month CDARS
1.76%$10k$12.5m3 Month CDARS
1.75%$1k-3 Month CD

TIAA Bank IRA Rates

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$250k3.5 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

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 [email protected] 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.