Bank Deals Blog: Savings & MMA Deals

It’s been about ten months since I wrote about the CFG Bank 12-month CD, which had been quite competitive in the first half of 2023. In the past five months, the 12-month CD APY lost 42 bps, with last fall’s short-lived 5.67% APY a distant memory. With two rate increases (15 bps) in the past two weeks ago, the 12-month CD is currently offering a very competitive 5.40% APY....

At the start of March, New-York based USALLIANCE Financial (USALLIANCE) increased the rate of the 12-month Certificate Special to 5.40% APY. Following the addition of 20 bps, the 12-month Certificate Special currently has the highest and most competitive rate in the USALLIANCE CD product line. The last noteworthy Certificate Special was in November when USALLIANCE offered an 18-month Special with a 5.75% APY. That lasted less than a month. The 12-month Certificate Special...

Louisiana-based Century Next Bank (CNB) replaced its Kasasa Checking account with the Priority Checking account about six years ago. The original 4.00% APY on qualifying balances up to $15k has been increased to 7.00% APY on qualifying balances up to $30k. Qualifying balances over $30k earn 0.50% APY, with non-qualifying balances earning 0.05% APY.

Priority...

When I last wrote about the Keystone Bank Kasasa Cash Checking account some ten months ago, the rate had been dramatically increased from 1.50% APY to 6.00% APY on qualifying balances up to $50k; the 6.00% APY on up to $50k is still in effect today, and it remains one of the best high-yield reward checking accounts in...

On Wednesday, CIBC Bank USA (CIBC) replaced its online-only 12-month Agility CD (5.51% APY) with a lower-rate 13-month Agility CD (5.36% APY), but the 5.50%+ APY is still available at CIBC branches. For a limited time, CIBC is offering an in-branch only 13-month CD Special earning 5.52% APY. The opening deposit must be at least $1k and is capped at $1 million. While...

For a limited time, Florida-based Banesco USA is offering a BanesFlex Money Market Promo that earns 5.25% APY on balances of $300 and above. The minimum opening deposit is $2.5k of new money, which is defined in the FAQs as “money not currently deposited in a Banesco USA account.” (FYI – the current rate for the non-promo BanesFlex Money Market Account is only 1.35% APY.)

In April 2023, Massachusetts-based Northern Bank Direct (NBD) substantially increased the rate on its 9-month CD to 5.50% APY. That rate-leading APY was in effect for about two weeks before it plummeted back to its previous 0.40% APY. In a bit of rate déjà vu last week, NBD again boosted 9-month CD APY from 0.40% to 5.50%. The opening deposit must be at least $500 and is capped at $250k.

Oregon-based Rivermark Community Credit Union (Rivermark CCU) is currently offering a New Member Savings Account (NMSA) earning 5.00% APY on balances up to $100k. As stated on the Truth-in-Savings disclosure, “The total portion of your balance over $100,000 will earn 0.05%.”The 5.00% APY is guaranteed for 15 months following account opening, after which the NMSA will...

Florida-based Climate First Bank (Climate First) is offering 5.34% APY on an “Account of Your Choice”: 6-month CD Special (no penalty), 15-month Flex CD Special (partial no penalty and add-on), Choice Personal Money Market account, and Choice...

California-based Poppy Bank is ending the year with a new and rate-leading savings account. The recently unveiled Premier Online Savings earns 5.50% APY that is “guaranteed for ninety (90) days from the date the account is opened.” A Premier Online Savings can be opened with a $1k...