Marcus has lowered its 1-year CD rate to 4.80% from 5.00%. Two weeks ago their rate was 5.15%.
BMO Alto has slashed its CD rates. The one-year now stands at 4.75% APY (down from 5.05% yesterday). Its longer term CD rates are all now at 4% APY, except the 5-year which is 4.10% APY.
This marks a significant drop from an online bank that had previously offered some of the the most aggressive longer term CD rates.
Bask Bank has lowered its CD rates slightly. Its 12-month rate now stands at 5.25% APY and its 6-month rate now stands at 5.30% APY.
These rates are still very attractive compared to Treasurys, especially for those residing in states without state income tax.
These rates are down from 5.36% and 5.00%, respectively.
CFG Bank has raised its online 1-year and 18-month CD products to rates that are very competitive. The 12-month rate is now 5.36% APY and the 18-month is 5.00% APY.
Note that both products Carry an 180 Day Early Withdrawal Penalty.
The bank cut its benchmark online savings rates by 10 basis points, marking its second rate decline in two months. They are hoping customers won't mind the declines even though the Fed funds rate is steady
Marcus by Goldman Sachs is hoping you won't mind getting a lower savings rate, even while interest rates are rising. They lowered their online savings rate by 10 basis points today to 4.40%. Their 6-month, 9-month, 12-month and 18-month offers offerings are also 10 basis points lower, while their 24-month has fallen by 20 basis points.
Whether you are in Ally's online savings or its online money market account, your rate just went down by 10 BPS.
Colorado Federal Savings Bank had a top yielding 12-month CD but they have lowered their rate today to 5.30% APY.
CIBC US has discontinued offering its one-year CD product. They offered 5.51% APY and the product only had a 1-month early withdrawal penalty. It has been replaced with other products that are not as compelling.