Bank Deals Blog: Nationwide Deals

Miami-based Pacific National Bank (PNB) has raised the rate on its 12-month CD (1.60% APY), making it the top-rated 1-year nationally available CD. The minimum deposit is $1k of new money and is capped at $250k.

PNB is one of those banks that makes it very difficult to determine what the Early Withdrawal Penalty (EWP) is. When I saw there was a Terms and Conditions document listed on the online application, I thought I...

New Jersey-based Atlantic Stewardship Bank (ASB) has raised the rate on its nationally available Special 20-Month Power CD to 1.70% APY. The minimum opening deposit is $500, with no stated balance cap.

This CD has two “Special Powers”: a one-time rate bump-up option (initiated by the customer) and a one-time additional deposit feature (equal to, but not greater than the opening deposit).

Following maturity, the Special 20-Month Power CD converts to an 18-23 Month CD, which...

Now through August 31, 2017, USALLIANCE Financial (USALLIANCE) is offering three Cooperative Rewards CD Specials: 15-month, 1.51% APY; 24-month, 2.02% APY; 36-month, 2.28% APY. The minimum deposit is $500, with no stated balance cap. In the past, USALLIANCE has required new money for their CD Specials, there’s no mention of that restriction for the Cooperative Rewards CD Specials....

In April, I wrote about MutualOne Bank’s new 61-month CD, which was initially offered at 2.53% APY. Unfortunately, that competitive CD was available for only about a month before it was removed from the Bank’s website.

MutualOne Bank is again offering the 61-month CD, earning the same 2.53% APY. The minimum deposit is $5k, with the opening deposit capped at $1 million, which is different from the original $500 min/no max opening deposit.

Today, Live Oak Bank increased its Savings Account rate to 1.40% APY. This is currently the highest rate on a nationally available savings account. Live Oak Bank now shares this top spot with DollarSavingsDirect, which had been alone as the rate leader since July 13. This might not last long. DollarSavingsDirect advertises itself as “America’s highest rate,” and it has already increased its rate twice this year when a challenger matched its rate. Live Oak...

Five months ago, I had occasion to write about Union Bank’s online division, PurePoint Financial. At that time, PurePoint Financial had unveiled its initial offerings – an Online Savings Account and four online CDs. The Online Savings Account rate was raised today to 1.30% APY on balances of $10k or more; balances less than $10k earn 0.25% APY. The minimum opening deposit is $10k.

This rate increase of 5 bps is small, but it puts PurePoint Financial’s...

Florida-based GTE Financial has raised the rates on its long-term Member Advantage Share Certificates: 36-month (2.02% APY), 48-month (2.27% APY), 60-month (2.58% APY). Rates are 25 bps lower without Member Advantage. The minimum deposit is $500, with no stated balance cap.

The Share Certificates are also available as IRAs (Traditional,...

Deal Summary: 5-year CD, 2.60% APY, $500 minimum deposit.

Deal Summary: 3% APY 5-month add-on CD, Maximum deposit $10k.

Navy Federal Credit Union’s (Navy Fed) has come out with another high-rate add-on certificate special. This new one has a 3.00% APY with a term of 5 months. The downside is a maximum balance of only $10k. Thus, if you’re not already a Navy Fed member, this special may not be worth the effort. However, if you’re already a Navy Fed member with enough extra cash sitting in savings or checking accounts, this is...