On Friday, June 15th, 2018, Ally raised the rates for all tiers of its 11-month, no-penalty CD. Unfortunately, even the CD’s top tier rate of 1.8% on deposit amounts of at least $25,000 is still not competitive with CIT’s 11-month, no-penalty CD which earns 1.85% on all deposit amounts (minimum is $1K) or, for that […]
Update on June 12, 2018: Wells Fargo is the latest large U.S. bank to ban cryptocurrency purchases on its credit cards. Update on February 15, 2018: Be aware that Coinbase has now prevented customers from adding any new credit cards to their accounts. Purchases through cards already associated with your account should still work. […]
Today, May 24th, 2018, CIT Bank raised the rate on their Money Market Account from 1.75% to 1.85%, thereby placing it near the top of nationally-available rates for liquid deposit accounts and at parity with CIT’s own 11-Month, No-Penalty CD, which also has a 1.85% APY. This rate increase applies both to newly-opened and existing […]
In early May 2018, Ally raised the rate on the $5,000-to-$24,999.99-deposit tier of their 11-month, no-penalty CD from 1.25% to 1.5%. This change makes that middle-tier rate the same as the $25K+ tier rate, effectively forming a new, larger $5K+ tier that earns 1.5%. Unfortunately, this change doesn’t do enough to make that tier compelling. […]
In early April, 2018, Popular Direct raised the rate on its Exclusive Savings Account from 1.65% to 2.00%, thereby becoming the new rate leader across all liquid account types (i.e. checking accounts, savings accounts, money market accounts, and no-penalty CDs). To get the new 2% rate, one need only open a new savings account with […]
Last week CIT Bank introduced a new product to their lineup: The CIT Money Market Account with a 1.75% APY. With this move, CIT has leapt to the top of the leaderboard to tie the previous money market leaders: Redneck Bank and All America Bank. CIT has left the APY on their Premier High Yield […]
Salem Five Direct raised the rate on its eOne Savings Account to from 1.5% to 1.85% APY for newly-opened accounts. Previously-existing eOne Savings Accounts will retain the previous rate of 1.5% APY. With this move Salem Five Direct has matched the 1.85% APY earned by CIT Bank’s 11-Month, No-Penalty CD. The main advantage of the eOne Savings […]
On March 7, 2018, Live Oak Bank raised rates on all of their CDs except their 1-Year CD, which they left at 2.1%. The most noteworthy increase was on the short end where they had a 30 basis point increase in their 6-month CD from 1.65% to 1.95%. Other CDs were raised by only 5 […]
On the morning of March 2, 2018, CIT Bank raised the APY on their 11-Month, No-Penalty CD to 1.85% from 1.55%, further cementing their rate leadership. The next-best competing product is Ally Bank’s no-penalty, 11-month CD that currently yields 1.5% for deposit amounts of $25K or higher. This new 1.85% rate leapfrogged the previously-best, nationally-available […]
Update on March 2nd, 2018: CIT Bank has leapfrogged the Dollar Savings Account by increasing the rate on their 11-Month, No-Penalty CD to 1.85%. As a no-penalty CD, it can be thought of as a liquid savings vehicle that just requires more effort to withdraw funds. You can read more about CIT’s No-Penalty CD and […]