Overview / Commentary
855-842-2372
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

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

Bumped Up "Our Pledge Money Markiet To 2.10% 1Yr Intro - 11/2/2018

Doesn't look that bad if your local since it's liquid has the 1yr intro "Your savings could be working harder for you. Open a Yield Pledge® Money Market account and start taking advantage of a 1-year intro APY that's ten times the current national average.²"

1 Year CD Rate Increase To 2.65% - 9/21/2018

It is still listed as 2.61% on the main page (https://www.tiaabank.com/banking/rates) but when you go to open a 1 year Yield Pledge CD (https://www.tiaabank.com/apply) the 1 year interest rate is listed as 2.65%.

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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.

Decent If You're Already In

Posted by: bankingar | Sep 21, 2018

tl;dr may not be worth it to start a relationship but if you're already in, it's not imperative to get out

I got swept into TIAA bank when they bought Everbank. Rates and the good-enough software remained the same. They're not a rate leader but they're usually in the top 10.

The leading driver of my average score is that I know there is better online banking software out there so I know how much CD management, account opening, and customer service CAN be improved. They simply haven't kept up but I already have a relationship so opening an additional CD isn't terrible.

One thing that is really awful and I cannot fathom is their "security code" when you're in the process of opening an account. You need this to continue or complete an application. The site wasn't working properly and I couldn't view mine. The only way to get around it is to call them. I should just be able to do this when I'm logged in. Why is additional security necessary when I
a) already have a banking relationship and online access
b) am moving money INTO the account

Another Company Offering Low Rates

Posted by: Sperry8 | Oct 2, 2018

Been with TIAA Direct for years, their rates remain uncompetitive. Further their "savings" account earns less than their money market account and like many companies require you to open a new account just to be brought up to the non-competitive higher rate. No thanks TIAA. I'm out.

TIAA Takeover Of Everbank Ruined This Bank

Posted by: daisuke | Sep 22, 2018

I was an Everbank client for 8 years prior to its takeover by TIAA CREF. It has a responsive and very capable online interface. It was exclusively an online bank. In May or June 2018, TIAA CREF bought Everbank. From there it has been straight downhill. The interface is now wrapped by TIAA CREF's cumbersome, clunky and painfully slow interface. Simple processes no long work. For example, adding an external bank in order to do ACH transfers is now broken. I am going to close my acccount here and the search is on for a better online bank. It will take time since so much data entry is needed but how long can one put up with incompetence in a bank?

VIEW MORE REVIEWS

Health
A+

Health Grade Components

Overall
FDIC Certificate #34775
Year Established1998
Employees3403
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.75%
Return on Equity - YTD6.82%
Annual Interest Income$984.1MM
Assets and Liabilities
AssetsQ3 2018vs Q3 2017$34.43B$33.27B
LoansQ3 2018vs Q3 2017$28.19B$28.13B
DepositsQ3 2018vs Q3 2017$23.01B$22.88B
Equity CapitalQ3 2018vs Q3 2017$3.86B$3.55B
Loan Loss AllowanceQ3 2018vs Q3 2017$138.6MM$143.1MM
Unbacked Noncurrent LoansQ3 2018vs Q3 2017$84.0MM$113.0MM
Real Estate OwnedQ3 2018vs Q3 2017$32.2MM$56.0MM
  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.

3.05% 42M(3.5Yrs) W Bump

Duck   |  
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

Bumped Up "Our Pledge Money Markiet To 2.10% 1Yr Intro

Duck   |  
Doesn't look that bad if your local since it's liquid has the 1yr intro
"Your savings could be working harder for you. Open a Yield Pledge® Money Market account and start taking advantage of a 1-year intro APY that's ten times the current national average.²"

1 Year CD Rate Increase To 2.65%

bankingar   |  
It is still listed as 2.61% on the main page (https://www.tiaabank.com/banking/rates) but when you go to open a 1 year Yield Pledge CD (https://www.tiaabank.com/apply) the 1 year interest rate is listed as 2.65%.

Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.61%--Basic Savings
0.61%--Basic Savings IRA

TIAA Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.15%*-$250kYield Pledge Money Market - 1st Year Intro Rate
OTHER TIERS: 1.90% $250k - $10m
1.90%*$100k*$10mYield Pledge Money Market - Ongoing Rates
OTHER TIERS: 1.10% Up to $10k | 1.15% $10k - $25k | 1.60% $25k - $50k | 1.70% $50k - $100k

TIAA Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.10%$5k$1m5 Year Yield Pledge CD
3.05%$5k$1m4 Year Yield Pledge CD
3.00%$5k$1m3 Year Yield Pledge CD
3.00%$1.5k$250k3.5 Year Bump Rate CD
2.85%$1k-5 Year CD
2.85%$5k$1m2 Year Yield Pledge CD
2.85%$5k$1m2.5 Year Yield Pledge CD
2.80%$1k-4 Year CD
2.77%$5k$1m1.5 Year Yield Pledge CD
2.75%$1k-3 Year CD
2.73%$5k$1m1 Year Yield Pledge CD
2.60%$1k-2 Year CD
2.60%$1k-2.5 Year CD
2.52%$1k-1.5 Year CD
2.48%$1k-1 Year CD
2.42%$10k$1m3 Year CDARS
2.40%$10k$12.5m1 Year CDARS
2.40%$10k$2.5m2 Year CDARS
2.20%$5k$1m9 Month Yield Pledge CD
2.05%$5k$1m6 Month Yield Pledge CD
1.95%$1k-9 Month CD
1.90%$5k$1m3 Month Yield Pledge CD
1.80%$1k-6 Month CD
1.78%$10k$12.5m6 Month CDARS
1.66%$10k$12.5m3 Month CDARS
1.65%$1k-3 Month CD

TIAA Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.10%$5k-5 Year Yield Pledge IRA
3.05%$5k-4 Year Yield Pledge IRA
3.00%$5k-3 Year Yield Pledge IRA
3.00%$1.5k$250k3.5 Year Bump Rate IRA
2.85%$5k-2 Year Yield Pledge IRA
2.85%$5k-2.5 Year Yield Pledge IRA
2.85%$1k-5 Year IRA
2.80%$1k-4 Year IRA
2.77%$5k-1.5 Year Yield Pledge IRA
2.75%$1k-3 Year IRA
2.73%$5k-1 Year Yield Pledge IRA
2.60%$1k-2 Year IRA
2.60%$1k-2.5 Year IRA
2.52%$1k-1.5 Year IRA
2.48%$1k-1 Year IRA
2.20%$5k-9 Month Yield Pledge IRA
2.05%$5k-6 Month Yield Pledge IRA
1.95%$1k-9 Month IRA
1.90%$5k-3 Month Yield Pledge IRA
1.80%$1k-6 Month IRA
1.65%$1k-3 Month IRA
Locations

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.