Bank Deals Blog: Nationwide Deals

As DA reader, midas89, noted in a Forum post last week, CFG Bank’s (CFG) nationally available High Yield Money Market (HYMM) had a rate increase of 20 bps. It currently earns 1.02% APY on balances of $1k and above. The minimum opening deposit is $1k and new money is required.

A Little History

More than three years ago, New York-based USALLIANCE Financial (USALLIANCE) introduced the High Dividend Savings (HDS) account with an initial 2.30% APY. The HDS offered a competitive rate for about seven months before the APY began dropping. Between March 2020 and February 2022, the APY was anything but competitive. A recent increase of 35 bps boosted the rate to 1.00% APY, once again putting the HDS in good company....

This has been a busy week at Ally Bank. On Wednesday, Ally Bank finally increased the rate of its Online Savings Account. It was just a 10-bp rate hike that increased the rate to 0.60%, but it finally moved the rate above the rate bottom that the account had been stuck at since December 2020. Ally Bank’s Money Market also...

Five months ago, State Bank of Texas (SBT) brought back its nationally available, limited-time 12-month CD earning 0.85% APY. The 12-month CD is again available with a highly improved 1.85% APY. The minimum opening deposit is $25k, and there is a cap of $250k.

According to CSR, the Early Withdrawal Penalty for the 12-month CD is a very mild 30 days of interest....

This is the fourth blog post about the KS StateBank CDs since mid-February. While all of the KS StateBank nationally available CDs have experienced significant rate increases in the past three months, the longer-term CDs have had dramatic increases of between 110-125 bps during the same...

It’s been four years since I last wrote about Crescent Bank. At that time, the product line (including CDs) was offered exclusively to Louisiana residents. As I was doing preliminary work for this week’s...

Before anyone feels the need to comment on the competitiveness of the Seattle Bank two Bump Up CDs, please understand this blog post serves an introduction to one of latest banks offering CDs on a nationwide basis.

At the beginning of the month, Seattle Bank substantially raised the rates of the majority of its CDs and unveiled the two Bump Up CDs. Although the CDs had rate...

I first reviewed New York-based My Banking Direct in 2005 when it was offering competitive rates on its money market account. During its history, the My Banking Direct Money Market had periods when it was competitive, but that ended in March 2020 when the top-tier rate fell to 0.25%. The Money Market rates haven’t changed, but in early February, My Banking Direct launched the High Yield Savings account with rates that...

Customers of Bask Bank received a cheerful email yesterday.

For the last couple of years, Bask Bank (internet division of Texas Capital Bank) was offering only one savings account, the Bask Mileage Savings Account, which earns a single American Airlines AAdvantage® mile for every dollar saved annually. In October 2021, the Bask Interest Savings Account was launched with a 0.60% APY, but could only be opened by existing Bask Mileage Savings Account holders....

Three weeks ago, North Carolina-based Live Oak Bank (Live Oak) had substantial across-the-board CD rate increases, making its shorter-term CDs near-rate leaders or rate leaders. Following yesterday’s rate increases of 50-75 bps, Live Oak has again secured a position at the head of the rates peloton. Of the seven CDs in the product line, the 6-month (1.25% APY), 18-month (2.00% APY), and 5-year...