Bank Deals Blog: Nationwide Deals

Ohio-based Nationwide Bank raised the rates on its 12-month CD (1.46% APY) and 24-month CD (1.66% APY) yesterday. The minimum opening deposit to earn these APYs is $100k, with no stated balance cap. Of the two, the 12-month CD is the more competitive.

Nationwide Bank CDs are also offered with APYs a uniform 5 basis points lower for deposits of less than $100k.

In March 2016, a new Money Market account was unveiled by Capital One 360, the now defunct online banking subsidiary of Capital One Financial Corporation. Earlier this year, Capital One 360 was quietly absorbed into Capital One, although the “360” moniker is now attached to the majority of Capital One products.

The 360 Money Market maintained its 1.00% APY on balances of $10k+ throughout the past 15 months, and today the rate was...

In a May Forum post, I noted a rate increase for Popular Direct’s 2-year and 5-year Popular Direct CDs. While there has been no additional increase for the 5-year CD (currently 2.35% APY), ten more bps were added last week to the 2-year CD (1.80% APY). The minimum opening deposit for any Popular Direct CD is $10k, with no stated balance cap.

In the past 16 months, I have written about State Bank of Texas’ (SBT) Jumbo MMDA three times. Since February 2016, the competitive Jumbo MMDA was available only in Chicago, then offered nationwide, then withdrawn completely for a short time, and then reinstated as a nationally available product in late August.

Last week, SBT raised the rate on the Jumbo MMDA to 1.55% APY on balances of $100k+, and CSR confirmed that it is still available nationwide.

TIAA Direct has substantially raised the rates on all its CDs, with increases ranging from 37 to 76 bps. Of those CDs, the 12-months CD (1.45% APY), 18-months CD (1.52% APY), and 24-months CD (1.70% APY) are the most competitive. The minimum opening deposit is $1k, with no stated balance cap. Note: While three balance tiers ($1k, $100k, and $250k) are listed on TIAA’s website,...

Since the beginning of June, I have written twelve blog posts about rate increases on nationally available liquid accounts (savings, MMA, checking). With this week’s rate increase on BankDirect’s Money Market Account (1.16% APY), this becomes the thirteenth.

BankDirect’s Money Market Account can be opened with a $500 minimum deposit, but the minimum balance to earn the stated APY is $10k. As stated in the Disclosure Booklet,

The new 1.16% APY is not “wow-worthy” in itself, but this...

Earlier this week, a long-time DA reader told me about two nationally available CDs at Tennessee-based INSBANK, which he saw advertised in the Tennessean. INSBANK is currently offering a 23-month CD (1.85% APY) and a 16-month CD (1.50% APY) nationwide. Of the two, the 23-month CD is the more competitive.

The minimum opening deposit for either CD is $25k, with a balance cap of $249k per CD. This is a limited-time offer,...

All America Bank (and its online “country cousin” division, Redneck Bank) raised the rate on its Mega Money Market (1.50% APY) by 25 bps yesterday. While the Mega Money Market has no minimum balance requirement, the 1.50% APY is capped at $35k; balances of $35k+ earn 0.50% APY.

All America Bank has been offering the Mega Money Market since 2009, with an initial rate of 2.00% APY that lasted for more than...

Deal Summary: 11-month No Penalty CD: 1.50% APY, $25k minimum (increase of 15 bps).

For the second time in the last week, Ally Bank raised the rates of its 11-month No Penalty CD. This is an especially pleasant surprise since last week’s rate hike was such a good deal. You’ll need a minimum deposit of at least $5k to benefit from this rate increase. The top-tiered rate increased 15 basis points to 1.50% APY while the mid-tiered rate increased 20 basis points to 1.25% APY....

After several internet banks have raised their rates to 1.15% and above, the recent rate hike of the High Yield Savings Account (HYSA) at American Express Bank, FSB (1.05% APY) may not sound like an exceptional deal. Nevertheless, I thought it was worth a blog post since the internet bank has several features that give them an advantage over others. In fact, I seem to receive more positive opinions from readers about this bank...