Bank Deals Blog: Savings & MMA Deals

Connecticut-based Patriot Bank is currently offering a promotional Online Money Market on a nearly nationwide basis. The Online Money Market earns 2.26% APY on all balances, with the APY guaranteed through June 30, 2020. When the promotional rate expires on July 1, 2020, the prevailing Money Market rate...

New Jersey-based RSI Bank recently expanded its product line and now offers four new Go Digital! accounts to all New Jersey residents through online application. The two most competitive accounts are the Go Digital! 10-month CD (2.10% APY) and Go Digital! Savings (2.00% APY).

Go Digital! 10-month CD Details

• $1k minimum/$100k maximum deposit
• Limit of one 10-month CD per...

Amboy Direct is still promoting its Jersey First eSavings account, which currently earns 2.10% APY on balances up to $50k with a one-year rate guarantee. (FYI – the “First” in the account’s name refers to...

DNB First is currently offering a 13-month CD, which earns 2.35% APY. The minimum opening deposit is $1k, with no stated balance cap.

The 13-month CD is also available as an IRA (Traditional, Roth, CESA), earning the same APY with the same funding requirements.

According to CSR, the Early Withdrawal Penalty is 60 days of interest, with partial withdrawals allowed. Unlimited beneficiaries can be named and...

In the past 18 months, Ohio-based CFBank has had a series of Money Market promotions. The latest is a 2.02% APY promotional rate offered on the nationally available Platinum Money Market (PMM) account. A $25k minimum deposit of new money is required to open a PMM, with a $25k minimum balance necessary to earn the promotional 2.02% APY.

For just over a year, New York-based Quontic Bank’s Personal Money Market rates have been very competitive. Rates started to fall in September, but the cuts have been smaller than most online savings and money market accounts. The Personal Money Market account is currently offering 2.20% APY on balances of $100k+. The other tiered APYs include 2.10% ($5k-$100k) and 1.85% (up to $5k).

It’s been nearly two years since California-based Xceed Financial Credit Union (Xceed) offered any blog-worthy product. That changed this week with the introduction of the Xclusive Money Market, which earns 2.00% on balances between $50k and $500k. Balances between $25k and $50k earn 1.50%, with balances less than $25k earning 0.25% APY.

In September, I wrote about the new Direct Money Market Deposit Account (DMMDA) offered by Florida-based TotalDirectBank (TDB). The 2.35% APY on balances between $5k and $500k is still in effect. For more detail about the DMMDA, please refer the September 26 blog post.

In September, TotalDirectBank’s CD rates were fairly competitive, but in the past seven weeks as many other rates dipped, the...

FitnessBank recently cut rates again on its Fitness Savings Account. The top rate fell from 2.75% to 2.60% APY at the start of November. For two months in the summer, the top rate had been 3.00% APY. After three Fed rate cuts that total 75 bps, a 40 bp rate cut seems reasonable. With a top rate of 2.60% APY, the Fitness Savings Account remains the rate leader for nationally...