New Bank Offers

Barclays has lowered its online savings rate from 1.15% APY to 1% APY this afternoon.

Marcus has lowered its online savings rate from 1.30% APY to 1.05% APY overnight.

The 7-Month No Penalty CD that BestCashCow had recommended was lowered again to 1.00% APY.

All CDs greater than one year are now 1.10% APY, except the 5-year rate which now stands at 1.15% APY.

Goldman's subsidiary has gone from very competitive to not competitive at all in a very short period.

This Emigrant bank subsidiary has lowered its savings rate by 10 basis points for the second time in a week.

The rate had been at 1.30% APY immediately prior to this move.

Savings rates continue to fall.

CIT Bank has lowered its money market rate from 1.30% to 1.20%.

Amex has lowered the rate on its Personal Savings account.

Unfortunately, this may be a sign of where things are going through the rest of 2020.

Neighbors Bank is no longer accepting new accounts.   This small MO-based bank had been offering customers across the country a 1.70% online savings rate.   As of the moment, they still appear to be extending that rate to customers who have already signed up, but they aren't taking new customers.

CIBC has lowered the online savings rate offered at its US subsidiary to 1.35% APY.   With some analysts suggesting that a major Canadian bank could be in trouble as a result of the collapse in oil prices, it seems like an important time to maintain your deposits within FDIC limits with this bank.