This product certainly makes sense compared to Ally's savings and money market accounts, both of which are over 1% lower. The 11-Month No Penalty CD offers the same liquidity as those products after 6 days.
Bask Bank's rate had previously stood at 4.15% APY.
Bask Bank also raised its 6-month and 12-month CD rate to 4.45% and 4.55%, respectively.
This move represents a .20% hike from the rate which had stood at 4% since December 8, 2022.
CFG Bank has raised its online money market rate to 4.25% APY. This move places it within 10 basis points of My Savings Direct, the current savings and money market rate leader.
Bask Bank has raised its online savings rate to 4.03% APY this morning. It had previously been at 3.85%.
First Foundation Bank has raised its online savings rate by 40 basis points to 4.00% APY.
The bank has consistently been a rate leader through this cycle and is well reviewed on BestCashCow.
Ivy Bank, the online division of Cambridge Savings Bank, has increased its online savings rate from 3.50% to 3.90% APY today.
Ivy has been consistently competitive since launching in early 2022, and is positively reviewed on BestCashCow and RatesAndInfo.
Citizens has raised its online savings rate by 75 basis points to 3.75% APY.
Citizens' minimum deposit amount is now $1.
Bask Bank has raised its online savings rate from 3.60% to 3.85% APY today.
Among the well recognized online banks, Synchrony is again a rate leader, but lesser known names are paying more on online savings.