Recent developments in the no-penalty CD space

Recent developments in the no-penalty CD space

  The New Entrant:  Marcus Near the end of October, Marcus: By Goldman Sachs debuted their no-penalty CD products with three durations: 7-month CD yielding 2.05% 11-month CD yielding 2.10% 13-month CD yielding 2.15% These work much like Ally’s no-penalty CD product in that one can withdraw their entire balance without penalty 6 days after […]

Ally raises rates on all tiers of its no-penalty CD, leapfrogging CIT Bank for deposits of $5K and up

Ally raises rates on all tiers of its no-penalty CD, leapfrogging CIT Bank for deposits of $5K and up

Earlier this month Ally raised the rate on all tiers of its 11-month, no-penalty CD product, thereby leapfrogging CIT Bank’s competing 11-month, no-penalty CD for deposits of $5,000 and above.  CIT Bank’s no-penalty CD earns just 1.85% for all deposit amounts. Here are the new interest rates for Ally’s product: 2.00% APY for deposits of […]