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Best Bank Account Interest Rates - Summary For March 17, 2020

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In the last two weeks since the last liquid account summary, there have been two emergency Fed rate cuts which have lowered the target federal funds rate to near zero (the zero bound). Online banks were just starting to respond last week to the March 3rd Fed rate cut, and a few are already responding to the Sunday Fed rate cut. In the next month we should expect widespread decline to the rates of online savings and money market accounts.

If the online banks follow what they did during the last zero bound period (2008 to 2015), most online savings account rates should bottom out in the range of 0.70% to 1.00%. For the summary table below, I’ve set the threshold for inclusion at 0.50%. Any savings or money market account with a rate that falls below 0.50% will be removed. Hopefully, I won’t have to lower this threshold.

Due to the high number of accounts with rate cuts, I’ve only listed 10 of the most noteworthy rate changes that have occurred in the last two weeks. I created two lists. The first includes rate changes from the rate leaders. The second list includes rate changes from the major online banks. All percentages are APYs:

Rate changes from the rate leaders:

  • CFG Bank High Yield Money Market (2.05% → 1.90%)
  • BrioDirect High-Yield Savings (2.00% → 1.85%)
  • TotalDirectBank Money Market (2.00% → 1.85%)
  • SkyOne FCU High Yield Savings (2.00% → 1.80%)
  • Popular Direct Ultimate Savings (1.90% → 1.80%)

Rate changes from the major online banks:

  • Barclays Online Savings (1.70% → 1.60%)
  • Ally Bank Online Savings (1.60% → 1.50%)
  • PurePoint Financial Online Savings (1.70% → 1.50%)
  • Capital One 360 Performance Savings (1.70% → 1.50%)
  • Discover Bank Online Savings (1.60% → 1.50%)

FitnessBank’s Fitness Savings account remains the rate leader with a top tier APY of 2.10%. FitnessBank typically only changes its rates at the start of each month. Since the two emergency Fed rate cuts have happened in March, I expect a large rate cut when April begins. The top tier APY requires that the customer average 12,500 steps per day for the month as measured by a step tracker app. The rate falls to 2.00% APY when the step average is between 10,000 and 12,500, and 1.75% APY when the step average is between 7,500 and 10,000. The rate falls significantly for lower step averages. There are lower step requirements for customers over 64.

The highest rate without special requirements or limitations is now 2.00% APY. This is currently available from First Foundation Bank’s Online Savings account. Minimum balance is $1k.

The highest rate for a low-minimum savings account is now 1.86% APY. This is being offered by SFGI Direct. Minimum balance to earn this rate is just $1. Minimum balance to open the account is $500. I’m glad to see SFGI Direct on top since it has a long history of offering a very competitive online savings account.

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. One of these specials is no longer available, and another had a large rate cut.

The one that is no longer available is the Online Money Market account at Patriot Bank, which had guaranteed 2.00% through July 2020.

The one that had a large rate cut is the MAX-Yield Money Market account from Sun East Federal Credit Union. The rate fell from 2.05% to 1.25% APY. There is still a 13-month rate guarantee.

The second rate guarantee is the Platinum Money Market promotion offered by CFBank which is guaranteeing 1.60% APY on balances of at least $25k. There’s a short guarantee period of 120 days. The ongoing interest rates are low (1.00% APY for $25k and above, 0.75% for for $5k to under $25k).

The third rate guarantee is the Yield Pledge Money Market Account at TIAA Bank. The new-customer rate continues to be 1.75% APY for balances up to $250k. This is guaranteed for the first year of account opening. A version of this offer has long been available at TIAA Bank/EverBank. After the 1-year intro period, a tiered-rate structure takes effect. The current ongoing APYs range from 1.01% for under $10k to 1.55% for over $100k.

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. If their rates are higher than the savings account, these can be good deals in this falling rate environment.

Some banks like Ally 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. Ally makes it very quick and easy to move the CD funds into your savings or checking account.

Below is a list of noteworthy no-penalty CDs. All but one of the banks lowered their no-penalty CD rates from two weeks ago. Only CIT Bank held its rate steady.

  • 1.70% APY 11-month No-Penalty CD ($1k min) - CIT Bank
  • 1.70% APY 7-month No-Penalty CD ($500 min) - Goldman Sachs Bank USA
  • 1.60% APY 11-month No-Penalty CD ($500 min) - Goldman Sachs Bank USA
  • 1.55% APY 11-month No Penalty CD ($25k min) - Ally Bank
  • 1.50% APY 13-month No-Penalty CD ($500 min) - Goldman Sachs Bank USA
  • 1.50% APY 11-month No Penalty CD ($5k min) - Ally Bank
  • 1.40% APY 11-month No Penalty CD (no min) - Ally Bank
  • 1.35% APY 11-month Liquid CD ($5k min) - Citizens Access
  • 1.35% APY 6-month No-Penalty CD ($500 min) - Investors eAccess
  • 1.20% APY 11-month Flex Time Deposit ($100k min) - M.Y. eBanc
  • 1.10% APY 11-month Flex Time Deposit ($10k min) - M.Y. eBanc
  • 1.01% APY 11-month No-Penalty CD ($10k min) - PurePoint Financial
  • 0.95% APY 13-month No-Penalty CD ($10k min) - PurePoint Financial
  • 0.90% APY 14-month No-Penalty CD ($10k min) - PurePoint Financial
  • 0.70% APY 11-month No Penalty CD ($5k min) - Colorado Federal Savings Bank

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 might take a few months.

The large yield reductions have begun. Vanguard Prime Money Market Fund 7-day yield fell by 19 bps in the last two weeks, falling from 1.60% to 1.41%. Fidelity Money Market Fund 7-day yield fell by 33 bps, falling from 1.38% to 1.05%.

Municipal money market funds have the advantage of being exempt from federal income tax, but their yields continue to be quite a bit lower than the other money market funds. These yields have been much more volatile in the last year. In the last two weeks, there have actually been yield gains due to liquidity issues. The Vanguard Municipal Money Market Fund 7-day yield gained 6 bps to 1.14%. Fidelity’s 7-day yield gained 12 bps to 0.95%.

Reward Checking Accounts

I’ll start with some good news for a change. Two new accounts were added to the list of nationally-available reward checking accounts. These New-To-Summary (NTS) accounts include the High Yield Checking from Ideal Credit Union and the Panorama Checking from Western Vista Federal Credit Union.

At Ideal Credit Union, the High Yield Checking earns 4.00% APY on balances up to $20k, and the rate is guaranteed to last until the end of June. On July 1, 2020, the rate will revert to 2.00% APY on balances up to $20k.

At Western Vista Federal Credit Union, the Panorama Checking earns 4.00% APY on balances up to $15k.

Now for the bad news. The other changes to the list of reward checking accounts involve rate reductions. For the case of Orion Federal Credit Union, only rates on the upper tiers declined. The primary rate (3.00% APY) remains the same for balances up to $15k. The rates for the portion of balances above $15k were lowered.

The Kasasa Cash checking accounts from three different institutions had large rate cuts.

Dover Federal Credit Union lowered the top tier rate of its Kasasa Cash account from 2.00% to 1.00% APY. This applies to balances up to $30k. This cap had been dropped to $15k when the top tier yield fell from 3.25% to 2.00%.

Georgia Banking Company (GBC) lowered the top tier rate of its Kasasa Cash account from 2.00% to 0.85% in two rate cuts. The 0.85% APY applies to balances up to $25k.

MainStreet Bank of Fairfax, VA also had a large rate cut on its Kasasa Cash account. The top tier rate fell from 3.00% APY to 0.75% APY for balances up to $15k.

We are still waiting on TAB Bank to launch its new reward checking account. The bank is no longer accepting applications for its Kasasa Cash Checking account. Existing customers still earn 4.00% APY on qualifying balances of up to $50k. This account had been the rate leader for nationally-available reward checking accounts since it was launched around April 2019. Not only was it a rate leader, it had a top balance cap of $50k. Balances of up to $50k could qualify for the 4.00% APY if monthly requirements were met. Most reward checking accounts have much lower caps that range from $5k to $25k.

Heritage Bank’s eCentive Account remains the rate leader for accounts with balance caps of at least $25k. It has a top tier rate of 3.03% APY on balances up to $25k. Unfortunately, the bank has a message on its Savings & Checking Rates page informing customers that “Due to Federal Reserve rate reductions in March, our eCentive rate will be reduced as of April 1, 2020.” There’s no mention of what the new rate will be. We’ve been tracking this account since 2009. Its top tier rate increased to 3.33% APY in April 2018, and this rate held until last December when it fell to 3.03% APY.

Overall, reward checking accounts have generally been more resistant to Fed rate cuts than online savings accounts. We’ll see if this continues now that the Fed has moved us back to the zero bound. 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: I just wanted to include this reminder of a couple of noteworthy CD deals that are available (at least as of today).

Navy Federal Credit Union continues to offer a very competitive Certificate Special. It’s a 17-month add-on Certificate with a 2.25% APY. Minimum deposit is $50, and the maximum balance is $75k. Additional deposits are allowed at any time, subject to the maximum balance. It’s not available inside an IRA. Navy Federal continues to offer a 37-month IRA CD special with a 3.00% APY. This only applies to IRA and ESA CDs. There’s a $50 minimum balance and a $150k maximum balance. Like the 17-month Special, additional deposits are allowed at any time, subject to the maximum balance.

[[ UPDATE 3/18/20: Andrews FCU's CD rates have fallen. The 5-year Jumbo CD and IRA CD rate has fallen to 1.55% APY. The 7-year regular CD rate is now only 1.60% APY. ]] Andrews Federal Credit Union is no longer offering Special CDs, including the Special 7-year CD that had a 3.05% APY. The highest non-IRA CD rate is now 2.35% APY (7-year term for a $1k minimum or a 5-year term for a $10k minimum). The 7-year IRA Share Certificate has the highest rate of 2.60% APY. Minimum deposit is $1k. People in any state can join this credit union via the American Consumer Council.

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 March 17, 2020

Checking/Savings/Money Market Accounts:

  • Noteworthy Accounts Available Nationwide:
InstitutionRatesNotes
FitnessBank2.10% ($250k max) (requires using step tracker app and averaging 12.5k steps/daily) Fitness Savings Account - Account review
Affinity Plus Federal Credit Union2.02% (up to $25k), 1.00% APY ($25k+)Superior Money Market (min $500 direct deposit into any account)
CommunityWide Federal Credit Union2.00% (penalty-free withdrawals first 5 days of each calendar quarter)High Rate Quarterly Funds Account - Account review
First Foundation Bank2.00% ($1k min)Online Savings - Account review
Prime Alliance Bank1.96% ($10k+) 1.86% ($1+)Personal Savings - Account review
CFG Bank1.90% ($25k min), 1.80% ($1k)High Yield Money Market Account - Account review
SFGI Direct1.86%SGFI Direct Savings Account - Account review
Vio Bank1.85% Online High Yield Savings - Account review
HSBC Direct1.85%HSBC Direct Savings
Western State Bank1.85% (up to $3m)High Yield Money Market - Account review
BrioDirect1.85% ($25 min)High-Yield Savings - Account review
TotalDirectBank1.85% ($5k min)Direct Money Market Deposit Account (not available in CA or FL) - Account review
CIT Bank1.80% ($100 min)Money Market - Account review
SkyOne Federal Credit Union1.80% ($1k) High Yield Savings ($1k monthly deposit required) - Account review
Popular Direct1.80% ($5k min opening deposit) Ultimate Savings - Account review
Live Oak Bank1.75% ($5 million max) Savings Account - Account review
Simple1.75%Protected Goal Account
TIAA Bank1.75% (up to $250k), 1.56% ($250k+) 1yr intro rate; 1.55% ($100k+), 1.40% ($50k+), 1.30% ($25k+) ongoing ratesYield Pledge Money Market - Account review
All America Bank1.75% (up to $50k), 0.50% ($50k+)Mega Money Market Account - Account review
Redneck Bank1.75% (up to $50k), 0.50% ($50k+)Mega Money Market Account
Pacific National Bank1.75% ($5k min) Money Market Deposit Account - Account review
CIT Bank1.75% ($25k min)Savings Builder - Account review
Synchrony Bank1.70%High Yield Savings - Account review
American Express National Bank1.70%High Yield Savings - Account review
TAB Bank1.70% ($1 min)High Yield Savings - Account review
ableBanking1.70% ($250 min)Money Market Savings - Account review
Marcus by Goldman Sachs1.70% ($500 min)High-Yield Online Savings Account - Account review
Marcus by Goldman Sachs1.70% ($500 min)7-month No Penalty CD - Account review
CIT Bank1.70% ($1k min)11-month No-Penalty CD - Account review
Mutual of Omaha Bank1.70% ($1k min/$1m max)Online Money Market
Citizens Access1.70% ($5k min)Online Savings Account - Account review
UFB Direct1.70% ($25k min)Premium Money Market - Account review
DCU1.66% ($25k min)Ltd. Savings - Account review
Northfield Bank1.65% ($225k max) Online Platinum Savings - Account review
Quontic Bank1.65% ($5k)High Yield Savings - Account review
Northpointe Bank1.65% ($25k+), 1.12% ($2m+), 0.25% ($100) Ultimate Savings - Account review
First Internet Bank1.61% (no min) Money Market Savings
Barclays1.60%Online Savings - Account review
Smarty Pig1.60%SmartyPig Savings - Account review
PenFed Credit Union1.60% (up to $250k)Premium Online Savings
Alliant Credit Union1.60% ($100 min)High-Rate Savings - Account review
Marcus by Goldman Sachs1.60% ($500 min)11-month No Penalty CD - Account review
CFBank1.60% ($25k min deposit) Platinum Money Market Promo (rate guaranteed for 120 days) - Account review
Quontic Bank1.60% ($100k), 1.50% ($5k), 1.40% APY (up to $5k)Personal Money Market - Account review
Comenity Direct1.55% ($100 min)High-Yield Savings - Account review
Ally Bank1.55% ($25k min)No-Penalty 11-month CD - Account review
MutualOne Bank1.51% ($1m max)Online Statement Savings - Account review
WebBank1.51% ($1k min)High Yield Savings - Account review
Ally Bank1.50%Online Savings - Account review
FNBO Direct1.50%Online Savings
DollarSavingsDirect1.50%Dollar Savings Account - Account review
Investors eAccess1.50% (up to $2m)eAccess Money Market - Account review
Bank5 Connect1.50% ($100 min)High Interest Savings - Account review
State Bank of India (IL)1.50% ($500 min) Savings
Discover Bank1.50% Online Savings - Account review
Capital One1.50% 360 Performance Savings - Account review
Sallie Mae Bank1.50%Money Market Account - Account review
USALLIANCE Financial1.50% ($500 min)High Dividend Savings - Account review
Marcus by Goldman Sachs1.50%13-month No Penalty CD ($500) - Account review
State Bank of India (IL)1.50% ($5k min) Money Market
PurePoint Financial1.50 ($10k min)Online Savings - Account review
CNB Bank Direct1.46% ($25k+)Premium Money Market
BankUnitedDirect1.45%Online Money Market - Account review
CIBC USA (formerly The Palladin PrivateBank)1.45%Agility Savings Account - Account review
Virtual Bank1.40% eMoney Market Special - Account review
Sallie Mae Bank1.40%High Yield Savings - Account review
Bank 71.40% ($100 min)High Rate Online Savings Account
Bank 71.40% ($5k min)High Rate Online Money Market
Discover Bank1.40% ($100k min), 1.35% ($2.5k) MMA - Account review
Bethpage Federal Credit Union1.35% ($500 min)Money Market
Investors eAccess1.35% ($500 min)6-month No Penalty CD - Account review
Citizens Access1.35% ($5k)11-month Liquid CD - Account review
MemoryBank1.25% ($1 million max) Online Money Market - Account review
Salem Five Direct1.25% (up to $1m)eOne Savings, new customers only - Account review
Sun East Federal Credit Union1.25% ($5k, 13-month rate guarantee)MAX-Yield Money Market Account - Account review
American Heritage Credit Union1.25% ($10k min)High Yield Savings
Customers Bank1.25% ($25k min)High-Yield Savings Account - Account review
Quorum Federal Credit Union1.20%HighQ Savings Account
CFSB (Colorado Federal Savings Bank)1.20% ($50k+) Premier Savings (New customers) - Account review
UmbrellaBank.com1.11% ($25k min), 0.65% ($1k)Money Market
Chime1.10%Chime Savings
Bay State Savings Bank1.10% ($5k min)Smile Worcester County Consumer Money Market - Account review
My eBanc1.10% ($100k), 1.00% ($25k)eRelationship Savings Account (CD required) - Account review
Rising Bank1.02% ($1k min)High Yield Savings - Account review
MyBankingDirect1.01% ($25k+), 0.75% ($5k+), 0.25% (less than $5k) Money Market
My eBanc1.00%Super Saver Money Market - Account review
CFSB (Colorado Federal Savings Bank)1.00% High Yield Savings - Account review
MySavingsDirect1.00%MySavings Account - Account review
PurePoint Financial0.95% ($10k) 13-month No-Penalty CD Account review (Update 3/4: 1.55%->1.25%)
BMO Harris Bank0.85% ($5k)Platinum Money Market (excludes AZ, FL, IL, IN, KS, MN, MO and WI - Account review
EBSB Direct0.62% ($10k+), 0.50% ($10+), 0.25% ($2m+)Money Market Special 3 - Account review
PNC Bank0.75% Online High Yield Savings (not available in all states) - Account review
BankPurely0.75% ($25k min) PurelyMoneyMarket - Account review
iGObanking.com0.75 ($25k min) MMA, New accounts and new money only - Account review

Reward Checking Accounts:

  • Noteworthy Accounts Available Nationwide:
InstitutionRatesNotes
Consumers Credit Union5.09% (up to $10k), 0.20% ($10k-$25k), 0.10% ($25k+) Rewards Checking Tier A- debit card and $1k credit card requirements (Changes effective 10/1/18)
La Capitol Federal Credit Union4.25% (up to $3k), 2.00% ($3k-10k), 0.10% ($10k+)Choice Checking
Consumers Credit Union4.09% (up to $10k), 0.20% ($10k-$25k), 0.10% ($25k+)Rewards Checking Tier B- debit card and $500 credit card requirements (Changes effective 10/1/18)
Ideal Credit Union4.00% (up to $20k), 0.05% ($20k+)High Yield Checking Special (rate guaranteed through 6/31/2020) (*NTS) - Account review
Western Vista Federal Credit Union4.00% (up to $15k), 0.08% ($15k+)Panorama Checking (*NTS) - Account review
Partner Colorado Credit Union3.50% (up to $10k), 0.50% ($10k-$25k), 0.10% ($25k+)High Interest Checking
One American Bank3.50% (up to $10k), 0.25% ($10k+)Kasasa Cash - Account review
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 C - debit card with NO credit card requirements (Changes effective 10/1/18)
Legence Bank3.05% (up to $10k), 0.25% ($10k+)Kasasa Cash
Heritage Bank3.03% (up to $25k), 0.15% ($25k+)eCentive Account
Market USA Federal Credit Union3.01% (up to $15k), 0.05% ($15k+)VIP Checking Platinum Tier - Account review
Main Street Bank3.00% (up to $30k), 0.25% ($25k+)Kasasa Cash - Account review
Elements Financial3.00% (up to $20k), 0.10% ($20k+)High Interest Checking - Account review
Orion Federal Credit Union3.00% (up to $15k), 1.50% ($15k-$100k), 0.75% ($100k-$250k), 0.50% ($250k+)Premium Checking (rates effective 12/1/2019) - Account review
Garden Savings Federal Credit Union3.00% (up to $15k), 0.15% ($15k+)Platinum Checking
Lake Michigan Credit Union3.00% (up to $15k), 0.00% ($15k+)Max Checking
INOVA Federal Credit Union3.00% (up to $15k), 0.70% ($15k+)Shield Checking - Account review
Signature Federal Credit Union3.00% (up to $20k), 0.10% ($20k+)Choice Checking
Great Lakes Credit Union3.00% (up to $10k), 0.05% ($10k+)Free Checking
First Security2.51% (up to $50k), 0.20% ($25k+)Kasasa Cash - Account review
XCEL Federal Credit Union2.50% (up to $25k), 0.25% ($25k+)Kasasa Cash Checking
Industrial Bank2.50% (up to $15k), 0.25% ($25k+)Kasasa Cash
Campus Federal2.31% (up to $10k), 0.05% ($10k+)Lagniappe Checking
New Buffalo Savings Bank2.27% (up to $15k), 0.2497% ($15k+)Kasasa Cash - Account review
Bellco Credit Union2.25% (up to $25k), 0.25% ($25k+)Boost Interest Checking - Account review
GreenState Credit Union2.25% (up to $20k), 0.15% ($20k+)R2 Checking - Account review
All America Bank2.25% (up to $10k), 0.50% ($10k+)Ultimate Rewards Checking
Redneck Bank2.25% (up to $10k), 0.50% ($10k+)Redneck Rewards Checking
Wings Financial Credit Union2.02% (up to $25k), 0.05% ($25k+)High Yield Checking - Account review
TruStone Financial Credit Union2.02% (up to $20k), 0.10% ($20k+)TruRate Checking - Account review
BankFirst2.02% (up to $10k), 0.15% ($10k+)Kasasa Cash
Finex2.018% (up to $25k), 0.20% ($25k+)Axcess Rewards Checking, Premier Account (formerly First New England Federal Credit Union)
Bay State Savings Bank2.01% (up to $20k), 0.25% ($20k+)Kasasa Cash - Account review
Quontic Bank2.00% (up to $1m)Amplify Interest Checking - Account review
Hawaii Pacific Federal Credit Union2.00% (up to $25k), 0.25% ($25k+)Kasasa Cash Checking
Northwest Federal Credit Union2.00% (up to $25k), 0.25% ($25k+)Kasasa Cash - Account review
Blue Federal Credit Union2.00% (up to $15k), 0.10% ($15k+)Extreme Checking (up to 4% w/account relationships) - Account review
United Educators Credit Union2.00% (up to $10k), 0.25% ($10k+)High Yield Checking
First Tech Federal Credit Union1.80% (up to $15k), 0.20% ($15k+)Dividend Rewards Checking
Connexus Credit Union1.75% (up to $25k), 0.25% ($25k+)Xtraordinary Checking
KS StateBank1.74% (up to $25k), 0.50% ($25k+)Check PLUS - Account review
Hanscom Federal Credit Union1.50% (up to $15k), 0.15% ($15k+)Kasasa Cash Checking - Account review
Axos Bank1.25% (up to $150k), 0.00% ($150k+)Rewards Checking
Dover Federal Credit Union1.00% (up to $30k), 0.25% ($30k+)Kasasa Cash - Account review
Georgia Banking Company0.85% (up to $25k), 0.75% ($25k+)Kasasa Cash - Account review
MainStreet Bank0.75% (up to $15k), 0.25% ($15k+)Kasasa Cash - Account review

*New to Summary

Certificates of Deposit:

Bank Account Alternatives - May Not Be FDIC Insured

InstitutionRatesNotes
GM Financial Right Notes2.00% ($500+)
Ford Interest Advantage1.90% ($50k+), 1.75% ($15k+), 1.70% (less than $15k)Ford Interest Advantage review
Duke Energy PremierNotes1.60% ($50k+), 1.50% ($10k+), 1.45% (less than $10k)Duke Energy PremierNotes review
Ally Financial Demand Notes1.50% ($50k+), 1.35% ($15k+), 1.15% (less than $15k)
Vanguard Prime Money Market Fund1.41% 7-day yield
Wealthfront1.27% Cash Account Cash Management Account
Vanguard Municipal Money Market Fund1.14% 7-day yield
SoFi1.10% SoFi Money Cash Management Account
Fidelity Money Market Fund1.05% 7-day yield
Fidelity Municipal Money Market Fund0.95% 7-day yield
Aspiration0.25% Spend and Save Account Cash Management Account

Removed, No Longer Available

Envision Bank1.80% ($10 min)Savvy Savings - Account review
NASB1.97% ($50k-$5m) High Rate Savings - Account review
Envision Bank2.47% (up to $25k min), 0.15% ($25k+)Envision Max - Account review
Country Bank2.00% (up to $20k), 0.25% ($20k+)Kasasa Cash Checking Account review
Patriot Bank2.00% ($100 min, rate guarantee through 7/31/2020)Online Money Market (not available in CT or NY) - Account review

Removed Following Rate Drop

M.Y. Safra Bank0.25% ($5k min/$1m max) MYSB Direct Online Money Market - Account review
Radius Bank0.25% ($25k+), 0.15% ($2.5k+)Radius High-Yield Savings - Account review
Superior Choice Credit Union0.10% ($30k-$75k), 0.10% (up to $30k)AMP Checking
BankPurely0.25% ($1 min) SavingPurely - Account review
iGObanking.com0.25%iGOsavings - Account review

Related Pages: savings accounts, money market accounts, reward checking accounts, 1-year CD rates, nationwide deals, Internet banks
Comments


#1 - This comment has been removed for violating our comment policy.
Choice
  |     |   Comment #3
Another aspect is some FI branches have disconnected local phone numbers
#4 - This comment has been removed for violating our comment policy.
Choice
  |     |   Comment #5
As a footnote to comment above. Those branches are closed! Quiry... and your safe deposit box is where? At a closed branch? And if not opened until, unfortunately, after death who has access? Suggest it is time to revisit who is on sign card!
DCGuy
  |     |   Comment #6
I don't know if this is a short term phenomena, but municipal money market account rates have spiked upward. Vanguard Municipal Money Market 7 day yield is 1.68% as of March 19. I have money in one of Federated tax exempt money market fund and its rate is 1.85% as of March 19. Te Government money market fund rates are heading in the opposite direction (VMFXX at 1.07%).

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