Bank Deals Blog: Savings & MMA Deals

There was movement today in the savings account rates peloton, with WebBank’s High-Yield Savings Account breaking away to match the 2.50% APY offered on USALLIANCE Financial’s High Dividend Savings. The minimum deposit required to open and earn the stated APY is $1k, with initial funding capped at $500k. 2.50% APY seems to be the “rate du jour” for nationally available liquid accounts, with three savings and five money market accounts...

Dover Federal Credit Union (Dover Federal) has added the Kasasa brand to its product line and is currently offering a Kasasa Cash account that earns 3.25% APY on qualifying balances up to $30k. Qualifying balances over $30k earn 0.25% APY, with non-qualifying balances earning 0.05% APY.

Qualifying Requirements

• At least 12 debit card purchases
• Be enrolled in and agree to receive eStatements
• Be enrolled in and log into...

Discover Bank has been offering bonuses on new Online Savings accounts for several years. The latest one offers a bonus of up to $200 when opening a new Online Savings account by June 3, 2019. Here are the bonus details:

Bonus Requirements

• Open an Online Savings account by June 3, 2019.
• Use offer code NPBE519 when applying.
• $150 bonus – fund with at least $15k by June 17, 2019.
• $200 bonus – fund with at least...

Massachusetts-based HarborOne Bank (HarborOne) has a new savings account – the Remarkable Savings Account. Minimum daily balances between $5k and $249,999.99 earn 2.50% APY, with the 2.50% APY guaranteed through December 31, 2019. This limited-time offer requires a minimum $5k opening deposit of new money.

About a month, I wrote about Investors eAccess’ inaugural product, the eAccess Money Market account, which earns 2.50% APY on all balances up to $2 million. Investors eAccess has recently expanded its product line with a 6-month No Penalty CD (2.50% APY) and a 10-month CD (2.70% APY). Either CD can be opened with a minimum $500 deposit. Of the two, the No Penalty CD is the...

Last week, BHCU (formerly Boeing Helicopters Credit Union) introduced its iSAVE Money Market Account (MMA), which earns 2.75% APY on balances of $2.5k up to $250k. The minimum opening deposit is $2.5k of new money, simply defined as funds not currently on deposit with BHCU. There is a limit of one account per member, but this competitive rate comes with a year-long rate guarantee.

About six months ago, earn.bank made its internet banking world debut, offering a Money Market Account (MMA) and two CDs. The MMA offered an initial (and respectable at the time) 2.02% APY on all balances. Within one month, the rate jumped to 2.31% APY, making it the top-rated nationally available money market account. The rate was raised to 2.41% APY on all balances in January and as of last...

Comenity Direct (an online division of Comenity Capital Bank) has introduced its High-Yield Savings Account (HYSA), which currently earns 2.48% APY on balances between $1 and $10 million. This new account is now the rate leader for nationally available savings accounts with low minimum balance requirements. The HYSA can be opened with a minimum $100 deposit.

Comenity Direct also offers five competitive CDs with terms from...

Less than a month ago, I wrote about WebBank’s new nationally available High-Yield Savings account, which earned 2.40% APY; WebBank ended the week by raising the rate to 2.45% APY. The minimum deposit required to open and earn the stated APY is $1k. Initial funding is also capped at $500k.

Utah-based WebBank had been a “behind-the-scenes” player in the loan industry for more than 20 years, before they began to...

When Banesco USA’s raised the rates on its BanesGrow Savings Account (2.47% APY) and BanesFlex Money Market Account (2.27% APY) in late January, I was disappointed to learn they were only available to Florida residents. I’m not sure when the availability changed, but both accounts are now available nationwide through the Bank’s online application.

BanesGrow Savings Account