New Bank Offers

HSBC Relaunches US Online Savings Accounts
Jul 10, 2018

HSBC, the major London-based conglomerate, has relaunched an online banking product in the US.   After recently being active in the US through the HSBC Advance moniker, they have opted to go back to HSBC Direct which they used in the early 2000s.   Their online savings rate is 1.70% (hint: you will find better online savings rates here).    You can learn more about HSBC here.

Sallie Mae Bank raises online money market rates again
Jul 5, 2018

Sallie has raised it online money market rate to 1.90% from 1.75%.   For the complete list of Sallie's online rates, please visit this page.   The most comprehensive list of the best online savings and money market rates is here.

Live Oak Bank Raises It CD Rates
Jul 5, 2018

Live Oak Bank has raised all of their CD rates.   For those willing to tie up their money for short periods in order to earn higher interest rates, their 6-month rate (now at 2.00%) and the 1-year rate (now at 2.50%) could be compelling.   Their complete CD offerings can be found here.  The complete and most current list of 1-year online CD rates is here.

Earn up to 5.00% APY on balances up to $5,000 on Premier Bank
Jul 5, 2018
Premier Bank offers 5.00% APY on balances up yo $5000 with Life Checking Account.
All consumer checking accounts have a minimum opening deposit of $25. LIFE CHECKING: Daily balances up to $5,000.00 earn an interest rate of 4.90% with an Annual Percentage Yield (APY) of 5.00%. The initial rate on your account for this tier will not drop below the floor rate of 5.00% APY through at least 12/31/18. Balances $5,000.01 or greater earn an interest rate and APY of 0.25%. Must make 20 debit card purchases per statement cycle; signature or PIN based transactions qualify. Debits are determined on the date it is posted to your account and not the date of the transaction/purchase. Debit purchases at or near the end of the month may post in the next month’s statement cycle. ATM transactions do not count as debit transactions to qualify for the preferred rate. If requirements are not met the account earns a base interest rate and APY of 0.01% on all balances. No minimum balance required. This is a variable rate account. For consumer deposits only.
Learn more here.

Ally Bank raises its online savings rate
Jun 29, 2018

Ally Bank has raised its online savings rate to 1.75%.   The complete list of the best savings and money market rates is here.  Ally Bank has also raised some of its CD offerings, including its 2-year and 4-year "Raise Your Rate" CDs to 2.50% on balances over $25,000.   Ally's new rate on its 11-month no penalty CD is now 1.85% on balances over $25,000.  All of Ally's rates are listed here.

F&M Bank
Jun 28, 2018
F&M Bank offers 4% APY Performance Rewards Checking.
To qualify for the Performance Rewards Checking interest rate, and to be reimbursed for non-F&M ATM transactions, you must meet the following requirements each month: (1)Ten debit card transactions must post and clear per statement cycle. (2) Receive your monthly statement electronically. (3) Set up one monthly direct deposit or automatic payment that posts and clears once per statement cycle(4) Access online banking at least once per statement cycle. 1.00% APY will be paid on balances $20,000.01 - $50,000 and 0.50% APY will be paid on balances $50,000.01 and up.  Account balances over $20,000 will earn a blended interest rate if all qualifications are met. If you do not meet the above requirements during your monthly statement cycle, you will earn .05% APY on your entire balance.
Learn more here.

Northern Bank Direct Lowers Money Market rate
Jun 20, 2018

Northern Bank Direct had offered a 2.26% online money market rate until this morning.   They lowered the rate to 1.51%.   (Those who opened at the 2.26% shouldn't fret, the rate was guaranteed for a year.)  This underscores the point that rates can go up and down and that great deals can disappear at any moment.   Check the best savings rates here and the best CD rates here.   

My Banking Direct offers new rates
Jun 13, 2018
My Banking Direct offers new rates.
2.00% APY 6 Month CD from 1.75%,
2.25% APY 12 Month CD from 2.00% and
2.50% APY 24 Month CD from 2.25%.
The interest rate remains fixed until maturity. Fees could reduce earnings. A penalty may be imposed for early withdrawals.

BBVA Raises Online Savings Rate
Jun 6, 2018

BBVA has raised their online savings rate to 1.70%.   Learn more here.

Synchrony Raises Savings Rate to 1.75%
Jun 6, 2018

Synchrony Bank has raised their online savings rate to 1.75%.