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My Savings Direct Lowers Online Savings Rate to 1.90% APY
Dec 5, 2019

My Savings Direct, a division of Emigrant Direct, has lowered its online savings rate from 2.00 to 1.90% APY.   While the rate is still competititve, it feels like we are a long way from this past summer with this bank topped out at 2.50% APY.

Synchrony Lowers Savings rate from 1.90% to 1.80% APY
Nov 27, 2019

Synchrony held their online savings rate above its competitors for a while, but has now lowered it to 1.80%.

Marcus Lowers Savings Rate to 1.70%, Drops All CD Rates
Nov 19, 2019

Marcus has lowered its online savings rate to 1.70% today.   The online division of Goldman Sachs also dropped all of its CD rates by 10 basis points (and all of its no penalty CD rates by 20 basis points).

Once Again Ally Lowers Savings Rates
Nov 13, 2019

Ally Bank has lowered its savings rate to 1.70% from 1.80%.   Ally seems intent to become less competitive for your money.

Fitness Bank Lowers Top Tier Savings Rate to 2.60% APY
Oct 31, 2019

On November 1, 2019, Fitness Bank is lowering its savings rate to 2.60% APY for those customers who download the bank's app and record an average daily activity of 12,500 steps or more.   Those customers averaging between 10,000 and 12,500 steps will now receive a 2.34% APY.

At the 2.60% APY, Fitness Bank's savings account remains the highest yielding online savings account in the U.S.   See all of the best online savings rates here.   You may still find higher savings rates locally and should compare those rates here.

Citizens Access Cuts Savings Rate to 1.85% APY
Oct 31, 2019

Citizens Access has cut its savings rate to 1.85% APY, effective November 1.   The rate had peaked earlier this year at 2.35%.

It has also lowered all of its CD rates by 15 to 20 basis points.   The Citizens Access one-year CD, for example, now stands at 2.10% APY.   Earlier in 2019, Citizens Access had offered 2.85% on this product.

Synchrony has lowered all CD rates by 10 to 15 basis points
Oct 29, 2019

Synchrony has lowered all of its CD rates yet again.   Its 12-month and 13-month CDs have moved from 2.25% APY to 2.10%.   Its 5-year CD has moved from 2.45% to APY to 2.30%.   All of its other rates have also been lowered by 10 to 15 basis points today.

Popular Direct Lowers Online Savings Rate
Oct 22, 2019

Popular Direct has lowered its online savings rate from 2.30% to 2.15%.   The bank also lowered all of its online CD rates.

Ally Reduces Savings Rate From 1.90% to 1.80%
Oct 9, 2019

Ally has lowered its savings rate, yet again, in anticipation of further Fed Funds rate decreases later this year.

CIT Bank Lowers Savings Builder, Makes CD Rates Entirely Non-Competitive
Oct 1, 2019

CIT Bank has lowered its Savings Builder rate from 2.20% to 2.10% APY.   

It has also lowered all of its CD products.   Its 1-Year CD and its 18-Month CD had previously been competitive at 2.20% and 2.40%, respectively.   At 2.00% and 2.10%, they are not.   Its longer term CD products have not been rate competitive for some time.