New Bank Offers

Synchrony Lowers Savings Rate to 2.15%; Lowers All CD Rates
Jul 11, 2019

Synchrony has lowered their online savings rate by 10 basis points from 2.25% to 2.15% APY.   They have also lowered all of the CD rates today.


Sallie Mae Bank Drops Money Market and CD Rates
Jul 9, 2019

Sallie Mae has dropped its money market rate from 2.30% to 2.20%.   Its 1-Year CD had been attractive at 2.75%, but is now 2.65%.    


Citizens Access Drops Savings Rate to 2.20%; Also Drops CD rates
Jul 3, 2019

Citizens Access has dropped its savings rate by 15 basis points to 2.20%.   It has also lowered all of its CD rates.   See all of Citizens Access's current rates here.   


Purepoint Cuts No Penalty CD to 2.00%
Jul 1, 2019

Purepoint's 13-Month No Penalty CD is a product that we recommended when it launched at 2.60% and continued to recommend at 2.50%.    The rate has now been cut to 2.00% and depositors should now look to the higher No Penalty rates from Marcus and Ally first.


Purepoint Slashes CD Rates
Jun 28, 2019

Purepoint has slashed all of its CD rates by 50 basis points.   The one-year CD has moved from 2.75% to 2.25% and the five-year has moved from 3.00% to 2.50% overnight.   While Purepoint has instantly removed itself from competitiveness on the CD front, the 13-month no penalty CD remains a very attractive savings alternative at 2.50%.


Marcus Lowers Its Online Savings Rate to 2.15%
Jun 27, 2019

The Goldman Sachs subsidiary became the first major online bank to lower its online savings rate.   The move is in anticipation of a Fed Funds rate cut at the end of July.


Live Oak Bank Lowers All of Its CDs by a Little
Jun 19, 2019

Live Oak lowered all of its CD rates this morning.   Its 1-year CD product moved from 2.80% to 2.75%, leaving it just below the most competitive 1-year products.


Colorado Federal Savings Bank Adds 2.35% No Penalty CD
Jun 17, 2019

Colorado Federal Savings Bank has begun offering an 11-Month No Penalty CD at 2.35%.   BestCashCow has recommended that investors look at No Penalty CDs as an effective way to lock in current interests rates for the remainder of 2019 and much of 2020 without losing liquidity.   Ally, Marcus and Purepoint have attractive offerings in this space, and Colorado is now a 4th interesting offer.   The rate, however, is lower than Purepoint's and the term is 2 months shorter than Marcus's.


Synchrony Slashes CD Rates Again
Jun 17, 2019

Synchrony has dropped all of its CD rates again.   It is a clear sign that expectations about future interest rates have changed when an online bank that had been one of the most competitive in the market reduces rates dramatically.


Marcus Lowers Some CD rates
Jun 7, 2019

Marcus has lowered its 1-year CD rate from 2.70% to 2.60%.   See the best online one-year CD rates here and see online-year CD rates near you here.

Marcus has lowered its 5-year CD rate from 3.00 to 2.90%.   See the best online five-year CD rates here and the see rates at banks near you here.