This is down from 0.50% and a far cry from a year ago when the Emigrant subsidiary offered the most competitive online savings rate in the industry.
The NC-based bank has lowered its online rate to 0.60% APY today, ending a two year period during which its rates alwasy exceeded those of better known online banks.
Marcus has lowered its online savings rate.
Citizens Access is lowering its online savings rate to 0.50% APY this weekend. The rate had previously stood at 0.60% APY.
A nice move from an online bank that was the rate leader until earlier this year.
Synchrony has lowered its online savings rates by 5 bps to 0.60% APY.
It has also adjsuted most of its CD rates lower.
Salem Five has lowered their online savings rate from 0.80% to 0.61% APY today.
TAB is the latest bank to drop its savings rate.
First Foundation Bank has lowered its online savings rate from 1.00% APY to 0.75% APY today.