When the Fed slashed rates in March back down to the zero bound, I had thought that online savings account rates would likely reach a bottom similar to the bottom reached during the last zero bound period (2008-2015). During that period, most online savings account rates fell to a bottom that ranged between 0.70% to 1.00%. I’m afraid after seven months of this new zero bound period, most online savings account rates have fallen through this range. I don’t think we’ve reached the bottom yet, and I’m afraid the new range may be under 0.50% before all is said and done.
Out of the four major online banks that lowered their savings or money market account rates in the last two weeks, three lowered them below 0.60%. These include Sallie Mae Bank and CIT Bank which lowered their money market rates to 0.55%. The third one is Barclays which lowered its savings account rate to 0.50%. Synchrony Bank’s savings account rate fell from 0.65% to 0.60%.
In addition to the major online banks, several of the smaller ones lowered their online savings account rates to new lows. Several of these smaller ones had been rate leaders. Their new rates are generally higher than what the major online banks offer, but they’re not much higher. These include CFG Bank (0.86% → 0.80%), First Foundation Bank (1.00% → 0.75%), SFGI Direct (0.81% → 0.67%) and Vio Bank (0.76% → 0.66%).
I’ve listed the most noteworthy rate changes that have occurred in the last two weeks. I created two lists. The first list includes rate changes from the major online banks. The second includes rate changes from past rate leaders which are generally not well-known names. All percentages are APYs:
Rate changes from the major online banks:
- Synchrony Bank High Yield Savings (0.65% → 0.60%)
- CIT Bank Money Market (0.60% → 0.55%)
- Sallie Mae Bank Money Market (0.60% → 0.55%)
- Barclays Online Savings (0.60% → 0.50%)
Rate changes from the less well-known online banks:
- CFG Bank High Yield Money Market (0.86% → 0.80%)
- First Foundation Bank Online Savings (1.00% → 0.75%)
- Gold Coast Bank Money Market (1.01% → 0.75%)
- My eBanc eRelationship Savings (0.80% → 0.70%)
- SFGI Direct Savings (0.81% → 0.67%)
- Vio Bank High Yield Online Savings (0.76% → 0.66%)
- TAB Bank High Yield Savings (0.90% → 0.65%)
- Salem Five Direct eOne Savings (0.80% → 0.61%)
- BankUnitedDirect Online Money Market (0.75% → 0.60%)
- BankDirect Money Market Plus (0.75% → 0.60%)
- All America/RedNeck Bank Mega Money Market (0.80% → 0.60%)
- Amboy Direct Personal eSavings (0.70% → 0.55%)
- Virtual Bank eMoney Market Spc (0.70% → 0.55%)
- Nationwide by Axos Bank Money Market Plus (0.60% → 0.50%)
- First Central Savings Bank E-Premier Money Market (0.90% → 0.40%)
- Quontic Bank Personal Money Market (0.55% → 0.40%)
Current rate leaders
We lost two 1% accounts, but gained one. We now list a total of five liquid accounts with yields of at least 1.00% without any small balance limitation.
The two 1% accounts that we lost are Gold Coast Bank Money Market and First Foundation Bank Online Savings account. Gold Coast Bank’s 1.01% APY didn’t last long. Just a few days after I added it to this last summary, the top tier APY fell from 1.01% to 0.75%. First Foundation Bank lasted longer. Its 1.00% APY had held since early August. Its rate fell to 0.75% on October 20th.
The one 1% account that we gained is the Money Market account at Merchants Bank of Indiana. Its APY has been holding at 1.00% since March. Thanks to DA reader enelrad1123 who mentioned this account in the DA Forum. According to the Bank, people from any state are eligible to open this account via the Bank’s online application. I’ll have a review of this account soon, but based on history of other small banks offering 1% rates, I wouldn’t be surprised to see this rate fall soon.
The other three 1% accounts are offered by fintechs that have partnered with banks to hold the FDIC-insured deposits. These fintech accounts don’t seem to be designed for savers who want to deposit $100k+ of funds. They appear to be targeting customers, specifically the younger generation, who are just starting to build up their savings. Nevertheless, the accounts from these fintechs don’t have balance limitations, so it is possible to earn 1% on large balances. All have variable rates, and they will likely lower their rates as demand picks up.
The first fintech is Affirm which I’ve included in the summary since July when the yield was 1.30%. In August, the yield fell to 1.00%, and that yield has held since then. The savings account is held by Affirm’s bank partner, Cross River Bank, which gives the account FDIC insurance. The account currently has a 1.00% APY on all balances with no minimum balances or monthly service fees.
The second fintech is T-Mobile. Its 1% account is a checking account.. T-Mobile has partnered with BankMobile, a division of Customers Bank, to hold the FDIC-insured deposits. The Checking Account can actually be considered a reward checking account since you can earn 4% APY on up to $3k if activity requirements are met. The requirements include being enrolled in an active T-Mobile postpaid wireless plan and being enrolled in the perks program with your T-Mobile ID. Lastly, a monthly qualifying deposit of at least $200 is required. The portion of the balance above $3k earns 1.00% APY. Also, the entire balance earns 1.00% APY if the above requirements are not met. Since the 1.00% APY can be earned without meeting any activity requirements, I’ve included the account in the savings/money market category. Thanks to DA reader calwatch for bringing this account to my attention.
The third fintech is Chime which has a savings account which currently offers 1.00% APY on all balances. The savings account requires you to also have and keep active the Chime’s checking account, called the Chime Spending Account. Both accounts are held by The Bancorp Bank, member FDIC. Due to this relationship requirement, you won’t see this account listed in the DA savings account rate table.
The fifth 1% account is the only one offered by a credit union. Connexus Credit Union’s Money Market Account continues to hold the top spot for accounts without balance caps. The account has a 1.15% APY on balances of at least $100k. Lower tiers include 1.00% APY ($50k), 0.75% APY ($20k), 0.60% APY ($10k), and 0.50% APY ($1k). To qualify for these rates, the member must also maintain an active checking account.
The account with the highest rate in the summary continues to be the Superior Money Market account from Affinity Plus Federal Credit Union. This account has a 2.02% APY, but this yield only applies to balances up to $25k. The rate falls to 0.70% on balances over $25k. Also, these rates require that you maintain a monthly direct deposit of at least $500.
Besides the above accounts, the only ones that still have at least 1.00% APY are either special CDs with add-on deposit features or the SmartyPig Savings account which has small balance caps.
Rate guarantees without withdrawal penalties
When rates are falling, the best savings and money market deals are specials that guarantee a rate for a period of time. As you would expect in our current rate environment, these specials have dried up. The only one with a rate guarantee that I’m aware of is the Yield Pledge Money Market account at TIAA Bank.
Earlier this month, TIAA Bank lowered the promo rate of its Yield Pledge Money Market account from 0.75% to 0.55% APY. This applies to balances up to $250k. A version of this offer has long been available at TIAA Bank/EverBank. However, I don’t remember a time when the intro rate was this low. After the 1-year intro period, an ongoing rate takes effect. The current ongoing rate is now 0.50% for all balances under $10 million.
No-penalty CDs have some of the liquidity of savings and money market accounts, but like CDs, they offer a rate lock which can be useful when rates are falling. No-penalty CDs have become more common at online banks in the last year, and they are something to consider, especially if you already have a savings account at the bank. The main issue now is that their rates have been falling. Many now have rates lower than the bank’s savings account. The only reason to open a no-penalty CD with a rate that’s lower than the savings account rate is if you believe the savings account rate will fall below the no-penalty CD rate. Even if that occurs, you may earn more in the savings account if the rate falls slowly.
The best deal for no-penalty CDs is now the 13-month online CD at CFG Bank (0.68% APY for a $500 minimum). It offers a one-time penalty free withdrawal.
Some banks like Marcus by Goldman Sachs make it easy to open and close the No Penalty CDs. You just lose access to the money in the No Penalty CD for the first six days from account funding. After that, you are free to close the CD without penalty
Unfortunately, banks continue to lower their no-penalty CD rates. In the last two weeks, these include CFG Bank, M.Y. eBanc and CIT Bank.
Below is a list of noteworthy no-penalty CDs.
- 0.68% APY 13-month Penalty Free CD ($500 min) - CFG Bank
- 0.65% APY 8-mo No-Penalty CD for AARP members ($500 min) - Marcus by Goldman Sachs
- 0.60% APY 11-month No Penalty CD (no min) - Ally Bank
- 0.60% APY 11-month No Penalty CD ($500 min) - USALLLIANCE Financial
- 0.60% APY 11-month Flex Time Deposit ($100k min) - M.Y. eBanc
- 0.55% APY 7-month No-Penalty CD ($500 min) - Marcus by Goldman Sachs
- 0.50% APY 11-month Liquid CD ($5k min) - Citizens Access
- 0.45% APY 11-month No-Penalty CD ($500 min) - Marcus by Goldman Sachs
- 0.45% APY 11-month No Penalty CD ($5k min) - Colorado Federal Savings Bank
- 0.45% APY 11-month Flex Time Deposit ($10k min) - M.Y. eBanc
- 0.40% APY 6-month No-Penalty CD ($500 min) - Investors eAccess
- 0.35% APY 13-month No-Penalty CD ($500 min) - Marcus by Goldman Sachs
- 0.30% APY 11-month No-Penalty CD ($1k min) - CIT Bank
- 0.15% APY 11-month No-Penalty CD ($10k min) - PurePoint Financial
- 0.10% APY 13-month No-Penalty CD ($10k min) - PurePoint Financial
- 0.10% APY 14-month No-Penalty CD ($10k min) - PurePoint Financial
Remember that when talking about no-penalty CDs (that function like Ally’s No Penalty CD), a longer term is always better. Since you can close these types of no-penalty CDs at any time after the first six days, I can’t think of a reason to choose a shorter-term no-penalty CD if the rate is the same.
Competition from Money Market Funds
Another option for your cash instead of savings accounts and money market accounts are money market funds from brokerages. These don’t have FDIC coverage, but they can be reasonable alternatives to deposit accounts. Back when the Fed was holding rates near zero from 2008 to 2015, money market funds had yields of around 0.01%. Now that the Fed has cut rates back to zero, money market fund yields will likely fall back to near 0.01%. This happened at Fidelity a couple of months ago. Now it has happened at Vanguard.
The 7-day yield of both the Fidelity Money Market Fund and the Fidelity Municipal Money Market Fund remains at 0.01%. At Vanguard, the Cash Reserves Federal Money Market Fund 7-day yield fell to 0.01% in early September and it remains at this level. The Vanguard Municipal Money Market Fund yield remains over 0.01%, but not by much. It’s now 0.05%, up 1 bp from two weeks ago.
Many of these brokerage firms have been waiving their management fees on their money market funds which allow them to avoid negative rates. In the performance and risk section of Fidelity Municipal Money Market Fund page, it lists a “7-Day Yield Without Reductions” of -0.14%. The pop-up explanation box warns that the fee waiver may not continue.
The 7-Day Yield Without Reductions is the yield without applicable waivers or reimbursements. Voluntary waivers and/or reimbursements may be discontinued any time.
Reward Checking Accounts
Reward checking account rates have been falling but there haven’t been widespread cuts that we’ve seen with online savings accounts.
In my list of nationally-available reward checking accounts, two banks lowered their reward checking rates. One American Bank lowered its Kasasa Cash APY from 2.00% to 1.50% for balances up to $10k. All America Bank (and its Redneck Bank division) lowered the APY of its Rewards Checking from 1.00% to 0.80% for balances up to $10k.
The best reward checking account for balances of $25k remains the Free Kasasa Cash account at The Bank of Denver. The top rate is 2.50% APY for balances up to $25k. The companion savings account, the Free Kasasa Saver, is also a good deal. That has a 1.50% APY on balances up to $50k. If you max out both accounts with a balance of $75k, you can earn interest of $1,375 for the year. That equals an APY of 1.83%. That’s now 3x the rate available from most of the major online savings accounts.
Overall, reward checking accounts have generally been more resistant to Fed rate cuts than online savings accounts. As you can see from above, they’re not immune. History during the last zero bound period (2008 to 2015) has shown that reward checking accounts can sustain rates significantly higher than online savings account rates during a zero interest rate environment.
To find the highest reward checking rates and balance caps in your state or nationwide, please refer to our reward checking rate table. If you're new to reward checking, please refer to my blog post, Overview of Reward Checking and Our Reward Checking Table.
Certificate of Deposit Rates
I’m now publishing my CD survey as a separate post. Please refer to my survey of the best CD rates. This recap focuses on liquid accounts.
CD Deals: The best nationally-available CD rates continue to be at Barksdale FCU. However, the credit union lowered its CD rates in early October. Its 5-year CD just barely holds the number one spot with a 1.51% APY. Its shorter-term CDs also had rate cuts, but they remain very competitive. Its 1-year CD rate is now 1.11% APY. For an overview of these CDs, please refer to last week’s CD rates survey.
If you can’t qualify for membership into Barksdale, you can also get a 5-year CD yield of 1.51%, but this requires a $250k deposit. There are three lower-rate tiers, with the lowest having a balance tier of $500. This is available nationally at Wings Financial Credit Union.
Lastly, the best short-term CD deal is a new 15-month CD special at American Heritage FCU with a 1.25% APY. Minimum deposit is $500.
This is my new weekly summary with the Fed review split off on a separate blog post. My weekly summaries will now be focused entirely on deposit rates and deals. Please keep all discussion about the Fed, the economy and politics to my Fed/Economy review blog post.
Checking/Savings/Money Market Accounts:
- Best Savings Account Rates (Nationwide and by State)
- Best Money Market Rates (Nationwide and by State)
- Best Checking Account Rates (Nationwide and by State)
|Affinity Plus Federal Credit Union||2.02% (up to $25k), 0.70% APY ($25k+)||Superior Money Market (min $500 direct deposit into any account)|
|Connexus Credit Union||1.15% ($100k), 1.00% ($50k), 0.75% ($20k), 0.60% ($10k), 0.50% ($1k)||Money Market Account (Active checking required)|
|Keesler Federal Credit Union||1.05% ($25 min deposit, unlimited deposits)||1-year FirstStep CD (easy membership in AL, LA, MS) - Account review|
|Smarty Pig||1.05% (up to $2.5k), 0.95% ($2.5k+), 0.75% ($10k+), 0.65% ($50k+)||SmartyPig Savings - Account review|
|Merchants Bank of Indiana||1.00% (up to $1m)||Money Market Account (*NTS)|
|T-Mobile Money||1.00% (4.00% up to $3k w/checking requirements)||Checking Account - Account review|
|Chime||1.00% (no min/max, active checking required)||Chime Savings Account - Account review|
|Blue Federal Credit Union||1.00% ($100k), 0.90% ($50k), 0.80% ($2k) (unlimited additional deposits throughout term)||30-month Expandable CD See review|
|FitnessBank||0.95% ($250k max) (requires using step tracker app and averaging 12.5k steps/daily)||Fitness Savings Account - Account review|
|National Cooperative Bank||0.91% ($100 min deposit)||Impact Money Market|
|CommunityWide Federal Credit Union||0.90% (penalty-free withdrawals first 5 days of each calendar quarter)||High Rate Quarterly Funds Account - Account review|
|ConnectOne Bank||0.90% ($2.5k min)||OneConnection Savings - Account review|
|CFBank||0.90% ($20k min deposit)||Platinum Money Market Promo - Account review|
|Varo||0.81% (2.80% up to $10k w/chk requirements)||Varo Savings - Account review|
|Pen Air Federal Credit Union||0.80% ($500 min)||15-month Add-On CD - Account review|
|CFG Bank||0.80% ($25k min), 0.70% ($1k)||High Yield Money Market Account - Account review|
|Customers Bank||0.80% ($25k min)||Ascent Money Market Savings|
|Western State Bank||0.75% (up to $3m)||High Yield Money Market - Account review|
|Prime Alliance Bank||0.75% ($1+)||Personal Savings - Account review|
|First Foundation Bank||0.75% ($1k min)||Online Savings - Account review|
|My eBanc||0.70% ($25k min opening deposit)||eRelationship Savings Account - Account review|
|Gold Coast Bank||0.75% ($50k), 0.63% ($40k), 0.50% ($30k), 0.38% ($20k), 0.25% (up to $10k)||Money Market|
|Bellco Credit Union||0.75% ($50k) 0.35% ($10k) 0.10% (up to $10k)||Premier Money Market Account|
|CIBC USA (formerly The Palladin PrivateBank)||0.70%||Agility Savings Account - Account review|
|Citi||0.70%||Citi Accelerate Savings Account (Not available in all states, chk relationship required)|
|Live Oak Bank||0.70% ($5 million max)||Savings Account - Account review|
|Nationwide by Axos Bank||0.70% ($100 opening)||My Savings (requires checking with minimum monthly $1k direct deposit)|
|Popular Direct||0.70% ($5k min opening deposit)||Select Savings - Account review|
|MutualOne Bank||0.70% ($1m max)||Online Statement Savings - Account review|
|CFG Bank||0.68% ($500 min)||13-month Penalty Free CD - Account review|
|SFGI Direct||0.67%||SGFI Direct Savings Account - Account review|
|Vio Bank||0.66%||Online High Yield Savings - Account review|
|TAB Bank||0.65% ($1 min)||High Yield Savings - Account review|
|Alliant Credit Union||0.65% ($100 min)||High-Rate Savings - Account review|
|Marcus by Goldman Sachs||0.65% ($500)||8-month No Penalty CD (AARP members only) - Account review|
|CFSB (Colorado Federal Savings Bank)||0.65% ($50k+)||Premier Savings (New customers) - Account review|
|Salem Five Direct||0.61% (up to $1m)||eOne Savings, new customers only - Account review|
|Axos Bank||0.61% ($250 opening)||High Yield Savings - Account review|
|Synchrony Bank||0.60%||High Yield Savings - Account review|
|My eBanc||0.60%||Super Saver Money Market - Account review|
|BankUnitedDirect||0.60%||Online Money Market - Account review|
|Simple||0.60%||Protected Goal Account|
|Quorum Federal Credit Union||0.60%||HighQ Savings Account|
|First Internet Bank||0.60% (no min)||Money Market Savings|
|All America Bank||0.60% (up to $50k), 0.25% ($50k+)||Mega Money Market Account) - Account review|
|Redneck Bank||0.60% (up to $50k), 0.25% ($50k+)||Mega Money Market Account|
|PenFed Credit Union||0.60% (up to $250k)||Premium Online Savings|
|American Express National Bank||0.60%||High Yield Savings - Account review|
|Ally Bank||0.60%||Online Savings - Account review|
|Ally Bank||0.60% (no min)||No-Penalty 11-month CD - Account review|
|Discover Bank||0.60%||Online Savings - Account review|
|Comenity Direct||0.60% ($100 min)||High-Yield Savings - Account review|
|ableBanking||0.60% ($250 min)||Money Market Savings - Account review|
|Marcus by Goldman Sachs||0.60% ($500 min)||High-Yield Online Savings Account (additional 10 bps for AARP members) - Account review|
|USALLIANCE Financial||0.60% ($500 min)||No Penalty 11-month CD - Account review|
|Rising Bank||0.60% ($1k min)||High Yield Savings - Account review|
|Spectrum Credit Union||0.60% ($2.5k min)||Market Edge Savings - Account review|
|WauBank||0.60% ($5k min)||High-Yield Savings (only available in AZ, CT, FL, MA, RI, TN, VA) - Account review|
|Northern Bank Direct||0.60% ($5k min)||Money Market - Account review|
|State Bank of India (IL)||0.60% ($5k min)||Money Market|
|Citizens Access||0.60% ($5k min)||Online Savings Account - Account review|
|TotalDirectBank||0.60% ($5k min)||Direct Money Market Deposit Account (not available in CA or FL) - Account review|
|BankPurely||0.60% ($25k min)||PurelyMoneyMarket - Account review|
|iGObanking.com||0.60 ($25k min)||MMA, New accounts and new money only - Account review|
|Virtual Bank||0.55%||eMoney Market Special - Account review|
|Sallie Mae Bank||0.55%||Money Market Account - Account review|
|CFSB (Colorado Federal Savings Bank)||0.55%||High Yield Savings - Account review|
|TIAA Bank||0.55% (up to $250k), 1yr intro rate; 0.50% (up to $10m) ongoing rates||Yield Pledge Money Market - Account review|
|DollarSavingsDirect||0.55%||Dollar Savings Account - Account review|
|CIT Bank||0.55% ($100 min)||Money Market - Account review|
|Bank5 Connect||0.55% ($100 min)||High Interest Savings - Account review|
|Marcus by Goldman Sachs||0.55% ($500 min)||7-month No Penalty CD - Account review|
|Amboy Direct||0.55% ($3k min/$100k max)||Personal eSavings - Account review|
|Northpointe Bank||0.55% ($5k+), 0.50% ($2m+), 0.25% ($100)||Ultimate Savings - Account review|
|UmbrellaBank.com||0.51% ($25k min), 0.25% ($1k)||Money Market|
|Nationwide by Axos Bank||0.50%||Money Market Plus|
|Barclays||0.50%||Online Savings - Account review|
|Sallie Mae Bank||0.50%||High Yield Savings - Account review|
|MySavingsDirect||0.50%||MySavings Account - Account review|
|FNBO Direct||0.50%||Online Savings|
|Capital One||0.50%||360 Performance Savings - Account review|
|HSBC Direct||0.50%||HSBC Direct Savings|
|BMO Harris Bank||0.50% ($5k-$999,999.99), 0.30% ($1m+)||Platinum Money Market (excludes AZ, FL, IL, IN, KS, MN, MO and WI - Account review|
|BrioDirect||0.50% ($25 min)||High-Yield Savings - Account review|
|Nationwide by Axos Bank||0.50% ($300 opening)||Regular Savings|
|Bethpage Federal Credit Union||0.50% ($500 min)||Money Market|
|Citizens Access||0.50% ($5k)||11-month Liquid CD - Account review|
|American Heritage Credit Union||0.50% ($10k min)||High Yield Savings|
|CIT Bank||0.50% ($25k min)||Savings Builder - Account review|
|Discover Bank||0.50% ($100k min), 0.45% ($2.5k)||Money Market - Account review|
|Marcus by Goldman Sachs||0.45% ($500 min)||11-month No Penalty CD - Account review|
|Nationwide by Axos Bank||0.40% ($100 opening)||My Savings w/o checking|
|State Bank of India (IL)||0.40% ($500 min)||Savings|
|Bank of Hope||0.40% ($1k min)||Money Market Account (Not available in AL, CA, IL, NJ, NY, TX, VA, WA)|
|Bay State Savings Bank||0.40% ($5k min)||Smile Worcester County Consumer Money Market - Account review|
|EBSB Direct||0.40% ($10k+), 0.25% ($10+), 0.20% ($2m+)||Money Market Special 3 - Account review|
|PurePoint Financial||0.40 ($10k min)||Online Savings - Account review|
|Quontic Bank||0.40% ($150k), 0.35% ($5k), 0.30% (up to $5k)||Personal Money Market - Account review|
|Northfield Bank||0.35% ($225k max)||Online Platinum Savings - Account review|
|Marcus by Goldman Sachs||0.35% ($500)||13-month No Penalty CD - Account review|
|Quontic Bank||0.30% ($5k)||High Yield Savings - Account review|
*New To Summary as of October 27, 2020
Reward Checking Accounts:
- Noteworthy Accounts Available Nationwide:
|La Capitol Federal Credit Union||4.25% (up to $3k), 2.00% ($3k-10k), 0.10% ($10k+)||Choice Checking|
|Consumers Credit Union||4.09% (up to $10k), 0.20% ($10k-$25k), 0.10% ($25k+)||Rewards Checking Tier A- debit card and $1k credit card requirements (Changes effective May 2020)|
|Evansville Teachers Federal Credit Union||3.30% (up to $20k), 0.00% ($20k+)||Vertical Checking - Account review|
|Western Vista Federal Credit Union||3.25% (up to $15k), 0.01% ($15k+)||Panorama Checking - Account review|
|Consumers Credit Union||3.09% (up to $10k), 0.20% ($10k-$25k), 0.10% ($25k+)||Rewards Checking Tier B- debit card and $500 credit card requirements (Changes effective May 2020)|
|Market USA Federal Credit Union||3.01% (up to $15k), 0.05% ($15k+)||VIP Checking Platinum Tier - Account review|
|ECCU||3.00% (up to $10k), 0.25% ($10k+) (Cap fell from $35k to $10k on Sept 1st)||Free Kasasa Cash Checking - Account review|
|Garden Savings Federal Credit Union||3.00% (up to $15k), 0.15% ($15k+)||Platinum Checking|
|Lake Michigan Credit Union||3.00% (up to $15k), 0.00% ($15k+)||Max Checking|
|INOVA Federal Credit Union||3.00% (up to $15k), 0.70% ($15k+)||Shield Checking - Account review|
|The Bank of Denver||2.50% (up to $25k), 0.25% ($25k+)||Kasasa Cash Checking (effective 8/20/2020) - Account review|
|Industrial Bank||2.50% (up to $15k), 0.25% ($25k+)||Kasasa Cash|
|Campus Federal||2.31% (up to $10k), 0.05% ($10k+)||Lagniappe Checking|
|Bellco Credit Union||2.25% (up to $25k), 0.25% ($25k+)||Boost Interest Checking - Account review|
|Presidential Bank||2.25% (up to $25k), 1.25% ($25k+)||Advantage Checking - Account review|
|Hiway Federal Credit Union||2.22% ($1k-$25k), 0.10% ($25k+)||Hi Yield Checking - Account review|
|Consumers Credit Union||2.09% (up to $10k), 0.20% ($10k-$25k), 0.10% ($25k+)||Rewards Checking Tier C - debit card with NO credit card requirements (Changes effective May 2020)|
|TruStone Financial Credit Union||2.02% (up to $20k), 0.10% ($20k+)||TruRate Checking - Account review|
|First Security||2.01% (up to $50k), 0.20% ($25k+)||Kasasa Cash - Account review|
|Bay State Savings Bank||2.01% (up to $20k), 0.25% ($20k+)||Kasasa Cash - Account review|
|GreenState Credit Union||2.00% (up to $20k), 0.15% ($20k+)||R2 Checking - Account review|
|Elements Financial||2.00% (up to $20k), 0.10% ($20k+)||High Interest Checking - Account review|
|Signature Federal Credit Union||2.00% (up to $20k), 0.10% ($20k+)||High-Yield Checking|
|Ideal Credit Union||2.00% (up to $20k), 0.05% ($20k+)||High Yield Checking - Account review|
|Wings Financial Credit Union||1.76% (up to $25k), 0.05% ($25k+)||High Yield Checking - Account review|
|Connexus Credit Union||1.75% (up to $25k), 0.25% ($25k+)||Xtraordinary Checking|
|Partner Colorado Credit Union||1.75% (up to $10k), 0.25% ($10k-$25k), 0.05% ($25k+)||High Interest Checking|
|United Educators Credit Union||1.65% (up to $10k), 0.25% ($10k+)||High Yield Checking|
|KS StateBank||1.50% (up to $25k), 0.20% ($25k+)||Check PLUS - Account review|
|Finex||1.50% (up to $25k), 0.10% ($25k+)||Axcess Rewards Checking, Premier Account (formerly First New England Federal Credit Union)|
|Blue Federal Credit Union||1.50% (up to $15k), 0.10% ($15k+)||Extreme Checking (up to 3.50% w/account relationships) - Account review|
|One American Bank||1.50% (up to $10k), 0.25% ($10k+)||Kasasa Cash - Account review|
|Great Lakes Credit Union||1.50% (up to $10k), 0.05% ($10k+)||Free Checking|
|Heritage Bank||1.32% (up to $25k), 0.32% ($25k+)||eCentive Account|
|Axos Bank||1.25% (up to $150k), 0.00% ($150k+)||Rewards Checking|
|First Tech Federal Credit Union||1.25% (up to $10k), 0.01% ($10k+)||Dividend Rewards Checking|
|BankFirst||1.25% (up to $10k), 0.15% ($10k+)||Kasasa Cash|
|Quontic Bank||1.01% (up to $1m)||High Interest Checking - Account review|
|Northwest Federal Credit Union||1.00% (up to $25k), 0.25% ($25k+)||Kasasa Cash - Account review|
|Hanscom Federal Credit Union||1.00% (up to $15k), 0.10% ($15k+)||Kasasa Cash Checking - Account review|
|Orion Federal Credit Union||1.00% (up to $10k), 0.25% ($10k-$100k), 0.05% ($100k-$250k), 0.01% ($250k+)||Premium Checking - Account review|
|All America Bank||0.80% (up to $10k), 0.25% ($10k+)||Ultimate Rewards Checking|
|Redneck Bank||0.80% (up to $10k), 0.25% ($10k+)||Redneck Rewards Checking|
|MainStreet Bank||0.75% (up to $15k), 0.25% ($15k+)||Kasasa Cash - Account review|
Certificates of Deposit:
- Best CD Rates (Nationwide and by State)
- Best IRA CD Rates (Nationwide and by State)
- Survey of the Best CD Rates (Nationwide and Local)
Bank Account Alternatives - May Not Be FDIC Insured
|GM Financial Right Notes||1.75% ($500+)|
|Aspiration||1.00% ($10k max) Spend and Save Account||Cash Management Account|
|Ford Interest Advantage||1.00% ($50k+), 0.85% ($15k+), 0.80% (less than $15k)||Ford Interest Advantage review|
|Duke Energy PremierNotes||1.00% ($50k+), 0.85% ($10k+), 0.80% (less than $10k)||Duke Energy PremierNotes review|
|Ally Financial Demand Notes||0.50% ($50k+), 0.40% ($15k+), 0.25% (less than $15k)|
|Wealthfront||0.35% Cash Account||Cash Management Account|
|SoFi||0.25% SoFi Money||Cash Management Account|
|Vanguard Municipal Money Market Fund||0.05% 7-day yield|
|Vanguard Cash Reserves Federal Money Market Fund||0.01% 7-day yield|
|Fidelity Municipal Money Market Fund||0.01% 7-day yield|
|Fidelity Money Market Fund||0.01% 7-day yield|