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Best Bank Account Interest Rates - Summary For June 15, 2021

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Unfortunately, there was no repeat of the last summary when a major online bank raised its savings account rate. The May 25th rate hike at Synchrony Bank will probably not be repeated anytime soon. For this summary, the only noteworthy rate changes in the last two weeks were rate cuts. One of those rate cuts was at a major online bank. That was Live Oak Bank which lowered its online savings account rate by 5 bps to 0.50%.

For the smaller online banks, three had rate cuts that lowered their rates closer to the average for online savings accounts (0.46%). CFG Bank’s High Yield Money Market remains the most competitive out of the three. The rate only fell 3 bps to 0.59% for balances of at least $25k. BrioDirect Online Money Market Savings rate fell 5 bps to 0.55%, and Prime Alliance Bank Personal Savings Account rate fell 10 bps to 0.50%.

One thing to note about these rate cuts is that most were relatively small. Fewer and smaller rate cuts have been common for the last few months. This can be seen in our Online Savings Account Index which tracks the average rate of 10 well-established online savings accounts.The slowdown has been apparent since December. Just recently, the Index actually had a rate gain, rising from 0.45% on May 3rd to 0.46% on June 1st. As I mentioned above, I doubt we’ll see continued rate gains for future months, but I doubt we’ll see any more large drops like we saw last year.

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:

  • Live Oak Bank High Yield Online Savings (0.55% → 0.50%)

Rate changes from the less well-known CUs & online banks:

  • Patelco CU MM Select (up to $2k, 2.00% → 1.00%)
  • CFG Bank High Yield MM ($25k+, 0.62% → 0.59%)
  • BrioDirect Online Money Market Savings (0.60% → 0.55%)
  • Prime Alliance Bank Personal Savings Account (0.60% → 0.50%)
  • UmbrellaBank.com Money Market ($25k+, 0.41% → 0.36%)
  • BankUnitedDirect Online MM (0.20% → 0.15%)

Current rate leaders

There are still four liquid accounts in the 1% group. These are savings, money market or standard checking accounts that have at least a 1% APY without any small maximum balance limits.

The institution with the highest liquid account in this 1% group is now Advancial Credit Union. Its Premium Money Market continues to offer 1.01% APY for balances of at least $100k. Unfortunately, Advancial’s field of membership doesn’t always include a way for people in any state to join. There have been times in the past when Advancial allowed people from any state to join via an association membership. There have also been times when Advancial did not provide this option. Unfortunately, Advancial is back to not providing this membership option. This is based on recent reports by readers. Please see this blog post for more details.

Last month, Connexus Credit Union lowered the rates on all of its rate tiers by 15 bps, except for the lowest tier ($1k to $10k). That rate fell 25 bps to 0.25%. The top-tier rate for balances of at least $100k is now 1.00% APY, which keeps the account in this 1% group. Lower tiers include 0.85% APY ($50k), 0.60% APY ($20k), 0.45% APY ($10k), and 0.25% APY ($1k). To qualify for these rates, the member must also maintain an active checking account. I have more details about the Connexus Money Market account in this post on finding 1%+ liquid accounts in 2021.

There are two fintechs that partner with banks that continue to offer 1.00% APY on their checking accounts. They have no balance limitations and no activity requirements to qualify for the high rate.

The most recent fintech to be in the 1% group is M1 Finance. This is a brokerage firm and robo-advisor which also offers a checking account called M1 Spend. M1 Finance has partnered with Lincoln Savings Bank which holds the deposits and allows deposits to be FDIC insured. The Spend account has two options: basic and plus. The basic account offers no interest. The plus account offers 1% APY on all balances. The downside with M1 Plus is a $125-per-year maintenance fee that can’t be waived.

The other fintech that is still in the 1% group is T-Mobile Money. Like M1 Finance, T-Mobile Money offers a checking account that earns 1% APY on all balances without any activity requirements. Unlike M1 Finance, T-Mobile Money Checking Account has no monthly service fees. T-Mobile has partnered with BankMobile, which has partnered with Customers Bank, to hold the FDIC-insured deposits (As of January 4, 2021, BankMobile is no longer a division of Customers Bank.) 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 to earn 4% APY on up to $3k include: 1) enrolled in a qualifying T-Mobile postpaid wireless plan; 2) registered for perks with your T-Mobile ID; and 3) at least 10 qualifying purchases using your T-Mobile MONEY card (This requirement replaced direct deposit.) 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.

The highest rate on a non-promotional and nationally-available liquid account that’s directly available from a bank is the ZYNLO Bank money market account. This account has a rate of 0.80% for all balances, and the minimum opening deposit is only $10. ZYNLO Bank had offered a promotion with a 1.25% APY, but that promotion ended in March. Please refer to my ZYNLO Bank money market review for more details.

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. TIAA Bank was the last one to offer a rate guarantee, but that has ended. TIAA Bank’s Yield Pledge Money Market account no longer has a 1-year intro rate for new customers. There’s now just the ongoing rate which remains at 0.40% 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 two years, and they are something to consider, especially if you already have a savings account at the bank.

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

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.

There were no rate changes on any of the listed no-penalty CDs over the last two weeks.

CFG Bank’s 13-month Penalty Free CD remains on top with a 0.62% APY.

  • 0.62% APY 13-month Penalty Free CD ($500 min) - CFG Bank
  • 0.55% APY 15-month No Penalty CD ($1k min) - Rising Bank (May have some penalties due to loss of interest that hasn’t been credited.)
  • 0.55% APY 11-month No EWP CD ($500 min) - USALLIANCE Financial CU
  • 0.55% APY 8-mo No-Penalty CD for AARP members ($500 min) - Marcus by Goldman Sachs
  • 0.50% APY 11-month No Penalty CD (no min) - Ally Bank
  • 0.45% APY 11-month No Penalty CD ($1 min) - Continental Bank via SaveBetter.com
  • 0.45% APY 7-month No-Penalty CD ($500 min) - Marcus by Goldman Sachs
  • 0.45% APY 11-month No Penalty CD ($5k min) - Colorado Federal Savings Bank
  • 0.40% APY 11-month Flex Time Deposit ($100k min) - My eBanc
  • 0.40% APY 3-month No Penalty CD ($1 min) - Continental Bank via SaveBetter.com
  • 0.35% APY 11-month Flex Time Deposit ($10k min) - My eBanc
  • 0.35% APY 11-month No-Penalty CD ($500 min) - Marcus by Goldman Sachs
  • 0.30% APY 11-month No-Penalty CD ($1k min) - CIT Bank
  • 0.30% APY 9-month No Penalty CD ($1 min) - Central Bank of KC via SaveBetter.com
  • 0.25% APY 13-month No-Penalty CD ($500 min) - Marcus by Goldman Sachs
  • 0.15% APY 6-month No-Penalty CD ($500 min) - Investors eAccess
  • 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
  • 0.05% APY 11-month Liquid CD ($5k min) - Citizens Access

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.

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 have fallen back to 0.01%.

The 7-day yield of both the Fidelity Money Market Fund and the Fidelity Municipal Money Market Fund remains at 0.01%. This has held steady now for the last several months.

The 7-day yield of the Vanguard Federal Money Market Fund is now at 0.01%. This had been 0.02% in January. The Vanguard Municipal Money Market Fund yield remains at 0.01%.

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.

The only rate cut in the last two weeks was at Bay State Savings Bank. Its Kasasa Cash top rate fell from 1.00% to 0.75% for balances up to $20k. Also, the companion Kasasa Saver top rate fell from 0.50% to 0.25% for balances up to $50k. These two accounts are more than six years old. Until late last year, the Kasasa Cash yield of 2.01% and the Kasasa Saver yield of 1.00% remained unchanged.

There was also one new addition to the list. The small Nokomis Savings Bank in Central Illinois is currently accepting online applications from people in any state. Its Kasasa Cash top yield is 3.00% for balances up to $25k, and its Kasasa Saver top yield is 1.00% for balances up to $100k.

Overall, reward checking accounts have generally been more resistant to Fed rate cuts than online savings accounts. They’re not immune to cuts. 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.

Most reward checking accounts have fairly small balance caps and won’t provide much earnings on large balances. However, there are a few nationally available ones in which you can earn high rates on fairly large balances. Below are five of these accounts.Two of the five are combo checking/savings accounts.

In the list below I added the blended APY for a $100k balance. For the combo account, this assumes that the funds are spread between the two accounts to maximize the APY.

  • Nokomis Savings Bank Kasasa Cash: 3.00% APY up to $25k and Kasasa Saver: 1.00% APY on up to $100k (1.50% blended APY for $100k balance)
  • ECCU Kasasa Cash Checking: 3.00% APY on up to $10k and Kasasa Saver: 1.00% APY on up to $100k (1.20% blended APY for $100k balance)
  • Presidential Bank Advantage Checking: 2.25% APY up to $25K, 0.65% on portion above $25k (1.05% blended APY for $100k balance)
  • Axos Bank Rewards Checking: 1.25% APY up to $150k (1.25% APY for $100k balance)
  • Quontic Bank High Interest Checking: 1.01% APY up to $100k, 0.65% APY $100k+ to $250k, 0.35% APY $250k+ (1.01% APY for $100k balance)

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: NASA Federal Credit Union maintained the rates of its three CD Specials for June (the rates had fallen last month when May began.) The 49-month Special continues to have a 1.40% APY for a minimum deposit of $10k. Its shorter-term CD Specials also continue to be good deals (15-month at 0.70% APY and 9-month at 0.65% APY). Please refer to this blog post for more details.

When June began, Advancial Credit Union slightly lowered most of its CD rates. Its 5-year Jumbo CD rate fell 7 bps to 1.84% APY, and its 1-year Jumbo CD rate fell 1 bp to 0.93% APY. The only problem with Advancial is that they don’t always offer an easy membership option (and that seems to be the case now.) Sometimes they allow people in any state to become a member by joining the Connex association.

Consumers Credit Union continues to offer top mid-term CD rates. For a $250k minimum deposit, its 20-month CD has a 1.00% APY. Other rates include 0.90% APY for a $100k minimum deposit and a 0.80% APY for a $250 minimum deposit.

Quontic Bank recently increased the rates on four of its CDs, and all four are now very competitive for online banks. The four CDs are 6-month (0.65% APY), 1-year (0.75% APY), 2-year (0.85% APY), and 3-year (1.00% APY). Minimum deposit is only $500.

Marcus by Goldman Sachs now has the highest short-term CD rate for a major online bank. At the start of June, Marcus raised its 18-month CD rate 15 bps to 0.70%. Minimum deposit is only $500.

Ally Bank continues to offer a 14-month Select CD with a 0.60% APY.

One of the best short-term CD deals continues to be at Veridian Credit Union. It has a 7-month Jumbo CD Special with a 0.85% APY. Minimum deposit is $100k. For a minimum deposit of $1k, the rate falls to 0.75%. Veridian also has very competitive 21-month CD Special rates (0.90% for $100k min and 0.80% for $1k min).

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.

Rates as of June 15, 2021

Checking/Savings/Money Market Accounts:

InstitutionRatesNotes
Keesler Federal Credit Union1.05% ($25 min deposit, unlimited deposits) 1-year FirstStep CD (easy membership in AL, LA, MS) - Account review
Advancial1.01% ($100k min)Premium Money Market - Possible easy membership - membership eligibility has been restricted in the past.
M1 Finance1.00% (all balances, $125 annual fee) M1 Plus Checking (deposits held by a partner bank)
T-Mobile Money1.00% (4.00% up to $3k w/checking requirements)Checking Account (deposits held by a partner bank) - Account review
Connexus Credit Union1.00% ($100k), 0.85% ($50k), 0.60% ($20k), 0.45% ($10k), 0.25% ($1k)Money Market Account (Active checking required)
Security State Bank (KS)0.82% ($110k), 0.60%-0.82% ($100k+), 0.25% (under $100k)Investment Savings Account (linked Investment Checking required), APY is average of Savings and Checking, 0.60%+ APY assumes Savings balance of at least $100k - Account review
ZYNLO Bank0.80%Money Market - Account review
Freedom Northwest Credit Union0.80% ($15k+), 0.65% ($10k+), 0.50% ($5k+), 035% (up to $5k) Rise Money Market (checking account w/$15k min balance required, no online application, small credit union) - Account review
Paramount Bank0.75% (up to $100k), 0.10% APY ($100k+) ($100 min deposit) Interest Checking (non-reward checking) - Account review, $100k cap only applies to accounts opened after 3/24/21
U.S. Postal Federal Credit Union0.75% (0.85% with relationship rewards) IRA Savings - See review
Merchants Bank of Indiana0.75% (up to $1m)Money Market Account
FitnessBank0.65% ($250k max) (requires using step tracker app and averaging 12.5k steps/daily) Fitness Savings Account - Account review
Affirm0.65%Affirm Savings (deposits held by a partner bank)
ConnectOne Bank0.65% ($2.5k min)OneConnection Savings - Account review
CFG Bank0.62% ($500 min)13-month Penalty Free CD - Account review
CommunityWide Federal Credit Union0.60% (penalty-free withdrawals first 5 days of each calendar quarter)High Rate Quarterly Funds Account - Account review
Marcus by Goldman Sachs0.60% ($500 min)High-Yield Online Savings Account (additional 10 bps for AARP members) - Account review
Customers Bank0.60% ($25k min)Ascent Money Market Savings
Blue Federal Credit Union0.60% ($100k), 0.55% ($50k), 0.50% ($2k) (unlimited additional deposits throughout term) 30-month Expandable CD See review
CFG Bank0.59% ($25k min), 0.49% ($1k)High Yield Money Market Account - Account review
INSBANK Online0.58% ($500k), 0.45% ($250), 0.35% ($75k), 0.15% ($10k), 0.05% (less than $10k)High Yield Personal Money Market
Vio Bank0.57% Online High Yield Savings - Account review
SFGI Direct0.56%SGFI Direct Savings Account - Account review
BrioDirect0.55%Money Market - Account review
Quontic Bank0.55% High Yield Savings - Account review
Comenity Direct0.55% ($100 min)High-Yield Savings - Account review
Alliant Credit Union0.55% ($100 min)High-Rate Savings - Account review
USALLIANCE Financial0.55% ($500)High Dividend Savings - Account review
USALLIANCE Financial0.55% ($500)11-month No Penalty CD Special - Account review
Marcus by Goldman Sachs0.55% ($500)8-month No Penalty CD (AARP members only) - Account review
Rising Bank0.55% ($1k min)15-month No Penalty CD - (Potential issues, see account review)
CIBC USA (formerly The Palladin PrivateBank)0.52%Agility Savings Account - Account review
SaveBetter.com0.51% ($1 min) High Yield Savings Account (deposits held by Ponce Bank) - Account review
Live Oak Bank0.50% ($5 million max) Savings Account - Account review
Synchrony Bank0.50%High Yield Savings - Account review
Western State Bank0.50% (up to $3m)High Yield Money Market - Account review
Chime0.50% (no min/max, active checking required)Chime Savings Account (deposits held by a partner bank) - Account review
Ally Bank0.50%Online Savings - Account review
Ally Bank0.50% (no min)No-Penalty 11-month CD - Account review
First Internet Bank0.50% (no min) Money Market Savings
Citi0.50%Citi Accelerate Savings Account (Not available in all states, chk relationship required)
Prime Alliance Bank0.50% ($1+)Personal Savings (0.50% rate effective June 4, 2021) - Account review
TAB Bank0.50% ($1 min)High Yield Savings - Account review
National Cooperative Bank0.50% ($100 min deposit)Impact Money Market
Pen Air Federal Credit Union0.50% ($500 min)15-month Add-On CD - Account review
First Foundation Bank0.50% ($1k min)Online Savings - Account review
Rising Bank0.50% ($1k min)High Yield Savings - Account review
Spectrum Credit Union0.50% ($2.5k min)Market Edge Savings - Account review
TotalDirectBank0.50% ($5k min)Direct Money Market Deposit Account (not available in CA or FL) - Account review
Northern Bank Direct0.50% ($5k min)Money Market - Account review
CFSB (Colorado Federal Savings Bank)0.50% ($50k+) Premier Savings (New customers) - Account review
iGObanking.com0.50% ($25k min) iGOmoneymarket, new accounts and new money only - Account review
BankPurely0.50% ($25k min) PurelyMoneyMarket - Account review
TIAA Bank0.50% ($25 min)Basic Savings
Salem Five Direct0.45% (up to $1m)eOne Savings, new customers only - Account review
PenFed Credit Union0.45% (up to $250k)Premium Online Savings
SaveBetter.com0.45% ($1 min) 11-month No Penalty CD (deposits held by Continental Bank) - Account review
CIT Bank0.45% ($100 min)Money Market - Account review
Marcus by Goldman Sachs0.45% ($500 min)7-month No Penalty CD - Account review
Popular Direct0.45% ($5k min opening deposit) Select Savings - Account review
MutualOne Bank0.40% ($1m max)Online Statement Savings - Account review
Virtual Bank0.40% eMoney Market Special - Account review
American Express National Bank0.40%High Yield Savings - Account review
CFSB (Colorado Federal Savings Bank)0.40% High Yield Savings - Account review
Discover Bank0.40%Online Savings - Account review
Sallie Mae Bank0.40%Money Market Account - Account review
TIAA Bank0.40%Yield Pledge Money Market - Account review
Barclays0.40%Online Savings - Account review
Capital One0.40%360 Performance Savings - Account review
SaveBetter.com0.40% ($1 min) 3-month No Penalty CD (deposits held by Continental Bank)- Account review
Bank5 Connect0.40% ($100 min)High Interest Savings - Account review
Bethpage Federal Credit Union0.40% ($500 min)Money Market
Amboy Direct0.40% ($3k min/$100k max)Personal eSavings - Account review
WauBank0.40% ($5k min) High-Yield Savings (only available in AZ, CT, FL, MA, RI, TN, VA) - Account review
Citizens Access0.40% ($5k min)Online Savings Account - Account review
PurePoint Financial0.40 ($10k min)Online Savings - Account review
CIT Bank0.40% ($25k min)Savings Builder - Account review
Bellco Credit Union0.40% ($50k) 0.25% ($10k) 0.10% (up to $10k)Premier Money Market Account
My eBanc0.40% ($100k), 0.35% ($10k)11-month Online Flex Time Deposit - Account review
Quontic Bank0.40% ($150k), 0.35% ($5k), 0.30% (up to $5k)Personal Money Market - Account review
UmbrellaBank.com0.36% ($25k min), 0.21% ($1k)Money Market
FNBO Direct0.35%Online Savings
DollarSavingsDirect0.35%Dollar Savings Account - Account review
Quorum Federal Credit Union0.35%HighQ Savings Account
Sallie Mae Bank0.35%High Yield Savings - Account review
SaveBetter.com0.35% ($1 min) High Yield Savings Account (deposits held by Continental Bank) - Account review
Marcus by Goldman Sachs0.35% ($500 min)11-month No Penalty CD - Account review
Northpointe Bank0.35% ($5k+), 0.30% ($2m+), 0.25% ($100) Ultimate Savings - Account review
American Heritage Credit Union0.35% ($10k min)High Yield Savings
Discover Bank0.35% ($100k min), 0.30% ($2.5k) Money Market - Account review
SaveBetter.com0.30% ($1 min) High Yield Savings Account (deposits held by Central Bank of Kansas City) - Account review
SaveBetter.com0.30% ($1 min) 9-month No Penalty CD (deposits held by Central Bank of Kansas City)- Account review
Nationwide by Axos Bank0.30% ($100 opening)My Savings (requires checking with minimum monthly $1k direct deposit)
Latino Community Credit Union0.30% ($500 min)Money Market - Account review
State Bank of India (IL)0.30% ($5k min) Money Market
Nationwide by Axos Bank0.25%Money Market Plus
MySavingsDirect0.25%MySavings Account - Account review
Nationwide by Axos Bank0.25% ($300 opening)Regular Savings
Marcus by Goldman Sachs0.25% ($500)13-month No Penalty CD - Account review
Nationwide by Axos Bank0.20% ($100 opening)My Savings w/o checking
Northfield Bank0.20% ($225k max) Online Platinum Savings - Account review
State Bank of India (IL)0.20% ($500 min) Savings
Varo0.20% (3.00% up to $5k w/chk requirements)Varo Savings - Account review
BankUnitedDirect0.15%Online Money Market - Account review
HSBC Direct0.15%HSBC Direct Savings
ableBanking0.15% ($250 min)Money Market Savings - Account review
EBSB Direct0.10% ($10+)Money Market Special 3 - Account review
Citizens Access0.05% ($5k)11-month Liquid CD - Account review

Reverse Tier Savings/Money Market Accounts/Checking:

InstitutionRatesNotes
Workers Credit Union4.37% (up to $1k), 0.35% ($1k-$2k), 0.40% ($2k-$3k), plus 13 more rate tiers (0.45%-1.05% in 5 bps increments)SaveUp Savings w/Automatic Deposit - Account review
Workers Credit Union4.32% (up to $1k), 0.30% ($1k-$2k), 0.35% ($2k-$3k), plus 13 more rate tiers (0.40%-1.00% in 5 bps increments)SaveUp Savings - Account review
Porte3.00% (up to $15k), 0.50% ($15k+)Savings Account, Checking with one-time direct deposit required (deposits held by a partner bank) - Account review
Affinity Plus Federal Credit Union1.00% (up to $25k), 0.35% ($25k+)Superior Money Market (min $500 direct deposit into any account)
Patelco Credit Union1.00% (up to $2k), 0.50% ($2k-$5k), 0.30% ($5k-$10k), 0.25% ($10k-$50k), 0.20% ($50k-$100k), 0.10% ($100k-$100m)Money Market Select Account - Account review
Smarty Pig0.70% (up to $10k), 0.45% ($10k+)SmartyPig Savings - Account review
Axos Bank0.61% (up to $25k), 0.25% ($25k to $100k), 0.15% ($100k+)High Yield Savings - Account review
All America Bank0.40% (up to $50k), 0.15% ($50k+)Mega Money Market Account - Account review
Redneck Bank0.40% (up to $50k), 0.15% ($50k+)Mega Money Market Account
La Capitol Federal Credit Union4.25% (up to $3k), 2.00% ($3k-10k), 0.10% ($10k+)Choice Checking

Reward Checking Accounts:

  • Noteworthy Accounts Available Nationwide:
InstitutionRatesNotes
Consumers Credit Union4.09% (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 Union3.30% (up to $20k), 0.00% ($20k+)Vertical Checking - Account review
Consumers Credit Union3.09% (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)
First Bank3.04% (up to $25k), 0.10% ($25k+)First Performance Checking (available in CA, IL, MO) - Account review
Market USA Federal Credit Union3.01% (up to $15k), 0.05% ($15k+)VIP Checking Platinum Tier - Account review
Nokomis Savings Bank3.00% (up to $25k), 0.25% ($25k+)Kasasa Cash (*NTS) - Account review
Sullivan Bank3.00% (up to $10k), 0.30% ($10k+) (2 accounts per SS#)Kasasa Cash - Account review
ECCU3.00% (up to $10k), 0.25% ($10k+) (Cap fell from $35k to $10k on Sept 1st)Free Kasasa Cash Checking - Account review
Lake Michigan Credit Union3.00% (up to $15k), 0.00% ($15k+)Max Checking
INOVA Federal Credit Union3.00% (up to $15k), 0.07% ($15k+)Shield Checking - Account review
Western Vista Federal Credit Union2.53% (up to $15k), 0.01% ($15k+)Panorama Checking - Account review
Great Lakes Credit Union2.50% (up to $10k), 0.05% ($10k+)Free Checking
Campus Federal2.31% (up to $10k), 0.05% ($10k+)Lagniappe Checking
Bellco Credit Union2.25% (up to $25k), 0.25% ($25k+)Boost Interest Checking - Account review
Presidential Bank2.25% (up to $25k), 0.65% ($25k+)Advantage Checking - Account review
Garden Savings Federal Credit Union2.25% (up to $15k), 0.15% ($15k+)Platinum Checking
Consumers Credit Union2.09% (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)
Union Bank2.07% (blended APY up to $25k), 0.03% ($25k+)1-2-3 Rewards Checking Account review
TruStone Financial Credit Union2.02% (up to $20k), 0.10% ($20k+)TruRate Checking - Account review
Hiway Federal Credit Union2.02% ($1k-$25k), 0.01% ($25k+)Hi Yield Checking - Account review
Elements Financial2.00% (up to $20k), 0.10% ($20k+)High Interest Checking - Account review
Signature Federal Credit Union2.00% (up to $20k), 0.10% ($20k+)High-Yield Checking
Ideal Credit Union2.00% (up to $20k), 0.05% ($20k+)High Yield Checking - Account review
First State Bank (OH)2.00% (up to $15k), 0.25% ($15k+)Kasasa Cash - Account review
Southwest National Bank2.00% (up to $15k), 0.25% ($15k+)Kasasa Cash - Account review
Cap Ed Federal Credit Union2.00% (up to $10k), 0.20% ($10k+)High Yield Checking
Wings Financial Credit Union1.76% (up to $25k), 0.05% ($25k+)High Yield Checking - Account review
Connexus Credit Union1.75% (up to $25k), 0.25% ($25k+)Xtraordinary Checking
Partner Colorado Credit Union1.75% (up to $10k), 0.25% ($10k-$25k), 0.05% ($25k+)High Interest Checking
Finex1.50% (up to $25k), 0.10% ($25k+)Axcess Rewards Checking, Premier Account (formerly First New England Federal Credit Union)
One American Bank1.50% (up to $10k), 0.25% ($10k+)Kasasa Cash - Account review
Industrial Bank1.47% (up to $15k), 0.20% ($15k+)Kasasa Cash
Axos Bank1.25% (up to $150k), 0.00% ($150k+)Rewards Checking
United Educators Credit Union1.25% (up to $10k), 0.25% ($10k+)High Yield Checking
BankFirst1.25% (up to $10k), 0.15% ($10k+)Kasasa Cash
Envision Bank1.10% (up to $25k), 0.05% ($25k+)Envision Max Checking - Account review
Heritage Bank1.02% (up to $25k), 0.19% ($25k+)eCentive Account
First Flight Federal Credit Union1.01% (up to $10k)High Interest Checking
Quontic Bank1.01% (up to $100k), 0.65% ($100k-$250k), 0.35% ($250k+)High Interest Checking - Account review
Northwest Federal Credit Union1.00% (up to $25k), 0.25% ($25k+)Kasasa Cash - Account review
Blue Federal Credit Union1.00% (up to $15k), 0.10% ($15k+)Extreme Checking (up to 3.00% w/account relationships) - Account review
Hanscom Federal Credit Union1.00% (up to $15k), 0.10% ($15k+)Kasasa Cash Checking - Account review
Orion Federal Credit Union1.00% (up to $10k), 0.25% ($10k-$100k), 0.05% ($100k-$250k), 0.01% ($250k+)Premium Checking - Account review
First Tech Federal Credit Union1.00% (up to $10k), 0.10% ($10k+)Dividend Rewards Checking
First Security Bank & Trust0.80% (up to $15k), 0.10% ($15k+)Kasasa Cash - Account review
Bay State Savings Bank0.75% (up to $20k), 0.05% ($20k+)Kasasa Cash - Account review
All America Bank0.60% (up to $10k), 0.15% ($10k+)Ultimate Rewards Checking
Redneck Bank0.60% (up to $10k), 0.15% ($10k+)Redneck Rewards Checking
MainStreet Bank0.25% (up to $15k), 0.25% ($15k+)Kasasa Cash - Account review

*New to Summary as of June 15, 2021

Certificates of Deposit:

Bank Account Alternatives - May Not Be FDIC Insured

InstitutionRatesNotes
GM Financial Right Notes1.50% ($500+)
Aspiration1.00% ($10k max) Save Account Cash Management Account
Ford Interest Advantage0.65% ($50k+), 0.50% ($15k+), 0.45% (less than $15k)Ford Interest Advantage review
Duke Energy PremierNotes065% ($50k+), 0.50% ($10k+), 0.45% (less than $10k)Duke Energy PremierNotes review
SoFi0.25% SoFi Money Cash Management Account
Wealthfront0.10% Cash Account Cash Management Account
Vanguard Federal Money Market Fund0.01% 7-day yield
Vanguard Municipal Money Market Fund0.01% 7-day yield
Fidelity Municipal Money Market Fund0.01% 7-day yield
Fidelity Money Market Fund0.01% 7-day yield

Related Pages: savings accounts, money market accounts, checking accounts, reward checking accounts, 1-year CD rates, nationwide deals, Internet banks
Comments
Rickny
  |     |   Comment #1
I don't see it in the listing but Toyota has Income Driver notes that pay 1.35%. They are like GM Demand notes. They are non insured notes that are unsecured debt with Toyota Finacial which has an A+ credit score with Fitch. Moody has an A1 rating, is the highest among global auto manufacturers. Put some funds in there. The process to verify your identity takes a few days and I'm waiting for them to ACH the funds frommy ConnectOne account.
111
  |     |   Comment #2
Over time there have been several companies that offer these demand notes - for whatever reason, many seem to be automotive or sometime other kinds of manufacturing concerns. Although unsecured, I'm curious whether anyone here who has owned these knows whether they are "senior" or "junior" debt, relative to bondholder debt (which is usually unsecured as well)? Thanks.
P_D
  |     |   Comment #3
8. What happens to my IncomeDriver Notes if Toyota Financial Services goes bankrupt? IncomeDriver Notes are unsecured senior debt securities issued by Toyota Motor Credit Corporation, which does business under the Toyota Financial Services (TFS) service mark, and rank equally with all of TFS’ other outstanding unsecured senior debt obligations. In the event of a bankruptcy, you would be treated as an unsecured and unsubordinated creditor of TFS.

https://www.incomedrivernotes.com/content/dam/tmcc-incomedriver-notes/pdfs/FAQs.pdf

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