Bank 5 Connect, formerly an online savings rate leader, lowered its online savings rate from 4.95% APY to 4.60% APY today.
Ivy Bank today lowered its online savings rate by 40 bps today from 5.00 to 4.60% APY.
Lending Club has lowered its savings rates today. Its LevelUp savings rate was lowered from 5.00% to 4.75% APY, and its online savings rate was lowered from 4.00 to 3.75% APY.
It order to qualify for the LevelUp rate, a depositor must automatically deposit at least $250+ per month into their account.
BMO Alto has lowered its online savings rate by 15 basis points to 4.45% APY this morning.
Total Direct recently lowered its online money market rate from 5.11% to 5.01% APY. The account requires a $25,000 minimum.
Bread dropped its savings rate from 4.75% to 4.65% APY this morning.
They have also lowered their 6-month CD rate to 4.70% APY.
The slow drip-drip-drip continues from a bank that was aggressively raising its rates this time last year.
BMO Alto has dropped its CD rates again.Their 6-Month CD rate now stands at 4.50% APY and their 12-month rate is 4.30%.
The drop is a 15 basis point drop from 5.26%.
Ally has lowered its online savings rate to 4.00% APY.
The bank, which failed to compete with the best rates during the entire 2022 to 2024 rate increase cycle, continues to maintain a rate well below rate leaders.
It has also lowered all of its CD rates across the board.
Jenius Bank, a division of Japan's Sumitomo Mitsui Bank, has lowered its online savings rate to 5.05% APY>
Jenius Bank has a D climate rating and is reviewed by BestCashCow here.