Bank Deals Blog

In the last few months, short-term brokered CD rates have become very competitive with direct CD rates. Before this year, direct CDs, especially those from internet banks, were the clear rate leaders for terms under 3 years. That has changed, and now brokered CDs are either ahead or close to the internet bank rate leaders.

Brokered CDs are purchased through brokerage firms like Fidelity, Vanguard or Charles Schwab. I’ve written many times about the pros and cons of brokered CDs. Last year, Charles Rechlin wrote a useful overview of brokered CDs...

Virginia-based Langley Federal Credit Union (Langley FCU) raised the rates on its 60-month CD at the end of last week: 2.53% APY w/Active Rewards, 2.43% APY w/o Active Rewards. The minimum deposit is $1K, with no stated balance cap.

The 60-month CD is also offered as an IRA (Traditional, Roth) earning the same APYs, but with a lower minimum deposit of $500.

Active Rewards

For the past few years, Regions Bank (Regions) has been regularly offering bonuses to new checking customers when opening any LifeGreen Checking account. The last time I wrote about this bonus it was $300, but this latest version is a $200 bonus.

$200 Bonus Requirements

• Open any personal LifeGreen Checking Account by September...

Deal Summary: No-Penalty 11-month CD (1.45% APY, $1k minimum)

CIT Bank increased the rate of its 11-month No-Penalty CD by 20 bps to 1.45% APY. Minimum deposit is $1,000. The No-Penalty CD allows the customer to withdraw the total balance and interest earned without penalty seven days or later after funds have been received. Partial withdrawals of principal are not permitted.

CIT Bank began offering the No-Penalty CD in early July at the same time the savings account rate was increased to 1.30% APY...

This is the latest good news, bad news, and hopeful news about Salem Five Direct's eOne Savings account.

Good news – the rate has been increased to 1.35% APY and the balance cap has been raised to $1 million.

Bad news – the fine print on the promotion page reads,

And in a Live Chat today, CSR stated,

Hopeful news, maybe – in May, a few DA readers reported that their requests...

Last week, Old Missouri Bank (OMB) began offering a limited-time 19-month CD (1.76% APY). The minimum opening deposit is $5k and, according to the promotion page, there is a “maximum balance of $500,000 per household.”

According to CSR, the Early...

While Georgetown Bank has been offering its Classic CDs for more than six years, the Bank has recently added several Classic CD Specials. Of the eight new Classical CD Specials, the 18-month (1.75% APY) and 36-month (2.00% APY) are the most competitive. A $10k minimum deposit is required to open any of...

For a limited time, Bank of Sun Prairie is offering 2.00% APY on its 24-month (and 60-month) CD Promotion. The minimum deposit is $10k, with a $250k balance cap. For obvious reasons, I’m only addressing the 24-month CD Promotion.

The 24-month CD is also offered as an IRA (Traditional, Roth, CESA), earning the same APY with the same funding requirements.

A one-time rate bump option is available for any Bank of Sun Prairie CD...

We may be in the doldrums of the dog days of summer, but Island Federal Credit Union (Island FCU) has perked up its product line with an 11-month Certificate Special (1.75% APY). (There are actually a total of four Certificate Specials, but the 11-month is the only competitive one.) The minimum deposit is $1k...

On Wednesday the Fed releases the minutes of its July FOMC meeting. That may provide clues on whether we should expect a December rate hike. One important thing to look for is more concerns that the recent low inflation may not just be a temporary condition. Last Friday, the Labor Department released its July CPI report, and as CNBC reported:

There was some positive economic news today. As reported by Reuters, “U.S. retail sales recorded their biggest increase in seven months.”

Even though inflation news isn’t encouraging for a rate hike,...