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Roger Bank Down To 4.12% APY

midas89
  |     |   1,019 posts since 2017

Roger Bank savings is now 4.05% APR and 4.12% APY. Big drop. Disappointing news, for sure. Let the exodus begin.

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3
Robb
  |     |   324 posts since 2018
Anyone chasing a 5% saving rate in this environment really can’t expect it to last due to the likely flood of new funds into the FI and seems like a fools errand at best.
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5
sardonia
  |     |   17 posts since 2025
the details on my account when logged in show an interest rate of 4.55%. Where are you seeing 4.12%?
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midas89
  |     |   1,019 posts since 2017
sardonia, the rate you are seeing will change tomorrow. Existing account holders will suffer the rate drop. I called them first thing this morning.
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Climb_Garden
  |     |   15 posts since 2023
Thanks for posting. Roger takes a machete to rate cutting.
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mrxblue
  |     |   2 posts since 2025
Confirmed the interest rate decrease happened on 2025-7-1, down from 4.55% to 4.03%
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midas89
  |     |   1,019 posts since 2017
Now that the interest rate APR has plummeted to 4.05% from 4.89%, which it originally was before it first declined to 4.55%, ROGER now stands for Rates Obliterated Growth Expectations Ruined
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mrxblue
  |     |   2 posts since 2025
Though not great news by any means, Roger's 4.03-4.05% is slightly above most of the other competitors, which are mostly sub 4.0%.
- Rogers applies their 4.03-4.05% up to $250,000 in funds
- Though not often, Roger's int. rate does fluctuate sometimes. There are the int rates I observed:

"Roger Bank

4.55 % 4/9/2025
4.53 % 6/2/2025
4.54 % 6/4/2025
4.55 % 6/5/2025
4.03 % 7/1/2025

Hopefully it will climb up. I may switch back to CIT Bank, but I think it's currently sub 4.0%
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RichReg
  |     |   153 posts since 2012
Thanks for posting this midas.
I immediately wrote a check out for the full balance to Primis upon reading this yesterday. Thankfully with a grandfathered 4.4% APY on their checking account, I'm still not doing so bad.

Now knowing what's happened here w/ROGER, I'm quite reluctant to try any of these new kids on the block with a 4.6% or even 5% APY. Been jumping into Annuities with some of my recently matured CDs; so leftovers for money markets, online savings & checking are quite minuscule in comparison; I ain't gonna lose much. With a Fed rate cut around the corner, odds are also not good that HUSTL, etc. and those other guys will stay on top by much, if at all. And I sure as hell don't believe ROGER will raise this rate back anytime soon;  as one poster speculated.
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midas89
  |     |   1,019 posts since 2017
You're welcome, RichReg. I agree with what you wrote. When HUSTL sees how much extra money in interest they will have to pay out at the end of this month because of the flood of new money deposited, like you said, odds are they will have to pull a Roger and an OnPath and bring their rate down. Heck, they might not even bother waiting until the end of the month, of course.

And yes, I agree, Fed rate cut around the corner for sure.

Happy Banking!
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xer00
  |     |   150 posts since 2019
WOW... actual rates are steady, and the banks are dropping rates like Chairman Powell has been shown the door.
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