Bank Deals Blog

It has been more than five years since I’ve written about any product offered by Staten Island-based Northfield Bank. Since that time, Northfield Bank has expanded its online market area, with the 11-month Online CD (5.65% APY) now available nationwide. The minimum opening deposit is $2.5k of new money, which is defined simply as “funds not currently on deposit at Northfield Bank.”...

For a limited time, Community Credit Union (CCU) is offering a 13-month CD Special earning 5.75% APY. The minimum opening deposit is $1k, with no stated balance cap. According to CSR, no end-date has been announced for the 13-month CD Special.

The 13-month CD Special is also available as an IRA CD Special (Traditional and Roth), earning the same APY with...

Wisconsin-based Superior Choice Credit Union (SCCU) has unveiled its new reward checking account, Superior Checking, which earns 7.00% APY on qualifying balances between $5k and $25k. The minimum opening deposit is only $100, but any balance of less than $5k earns no interest.

The other rate tiers (as described on the landing page) are not that impressive.

In addition to maintaining a minimum daily average balance of $5k...

For a limited time, Alabama-based Family Savings Credit Union (Family Savings) is offering a rate-leading 18-month CD Special. Earning 5.80% APY, the 18-month CD Special can be opened with a $500 minimum deposit.

The 18-month CD Special is also available as an IRA CD Special (Traditional, Roth), earning the same APY with the same deposit requirements.

Early Withdrawal Penalty

As stated in the Fee Schedule, the Early Withdrawal Penalty reads...

The odds of additional Fed rate hikes continue to be low. The Thursday release of the Fed’s preferred inflation gauge, PCE price index, may impact the odds. If it continues the inflation trend seen in the October CPI and PPI reports, the odds of additional Fed rate hikes may decline more while the odds of rate cuts in early 2024 may rise.

The odds of a Fed rate hike at the December 12-13 meeting are 4.2%, down slightly from 4.8% last week. The odds of a rate hike at the January...

Late last week Synchrony Bank increased the rate on its 14-month CD by 40 bps to 5.65% APY. According to Synchrony Bank’s small print, the CD offer is available “until 11:59 PM Eastern Time on December 4, 2023.” This is the highest CD rate that Synchrony Bank has offered in its history, and it’s one of the highest CD rates from a well-established online bank. The rate is tied with...

Chicago-based The Federal Savings Bank (TFSB) has ended the month by significantly increasing the rate of its 5-year Promotional CD. Following the addition of 182 bps, the 5-year Promotional CD current offers a near market-leading 5.12% APY. The 3-year Promotional CD APY was recently upped to 5.17%, following a more modest increase of 17 bps. Either Promotional CD can be opened with a $5k...

Oklahoma-based Vio Bank introduced the Cornerstone Money Market Account (Cornerstone MMA) in April 2021. At that time, there was only a few bps difference between the Cornerstone MMA APY and the Vio Bank High Yield Online Savings (HYOS) APY. While the HYOS APY plateaued at 1.10% APY about a year ago, the Cornerstone MMA rate has steadily risen in the past 18 months, gaining...

The 12-Month Cyber Monday CD Special (6.00% APY) offered by Alabama Credit Union (ACU) is only available for a very limited time: TODAY. The 12-Month Cyber Monday CD Special requires a minimum $2.5k deposit of new money. According to the fine print on the CD Rates page, new money is defined...

As DA reader, RichardW, observed in a Forum post last week, Sallie Mae Bank (SMB) recently increased the rates on the majority of its CDs. The most noteworthy rates belong to the 12-month CD (5.50% APY), 15-month CD (5.55% APY), and 24-month CD (5.25% APY). The minimum opening deposit is $2.5k, with no stated balance cap. (Note: These are CDs that are offered...

Connecticut-based DR Bank recently upped the rate on its nationally-available 18-month Prime CD to 5.60% APY. The minimum opening deposit is $500, with no stated balance cap.

The 18-month Prime CD is also available as a Prime IRA CD (Traditional, Roth), earning the same APY with the same deposit requirements.

Added to the product line four months ago, the 18-month Prime CD has had two rate increases, adding a total of 35 bps

Availability...