Reviewed by UtahJazz1 | June 10, 2022 |
This bank hasn't raised their rates! Maybe I was sleeping but I need to get out of here fast.
| Online CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| 6 Month CD
|
0.15% | $10,000 | - |
Learn More
|
| 1-Year CD
|
0.25% | $10,000 | - |
Learn More
|
| 18 MO CD
|
0.25% | $10,000 | - |
Learn More
|
| 24 Mo CD 1K
|
0.25% | $10,000 | - |
Learn More
|
| 36 Mo CD 1K
|
0.25% | $10,000 | - |
Learn More
|
| 48 Month CD
|
0.25% | $10,000 | - |
Learn More
|
| 60 Month CD
|
0.25% | $10,000 | - |
Learn More
|
Purepoint has raised their one-year CD rate to 2.80% from 2.60% today. The rate requires a minimum deposit of $10,000, and is still below the best online one-year CDs. Purepoint's one-year CDs have a 181-day early withdrawal penalty which is higher than that on one-year CDs from Barclays Bank Delaware, Ally Bank, Live Oak and others.
Purepoint has raised its online savings rate to 2.35%. BestCashCow has received reports that customers of Union Bank in California are being offered bumps on this of 10 to 15 bps.
Purepoint has lowed its one-year CD rate to 2.75%. This continues a trend that we are seeing of declining premiums in all CD categories.
Purepoint has slashed all of its CD rates by 50 basis points. The one-year CD has moved from 2.75% to 2.25% and the five-year has moved from 3.00% to 2.50% overnight. While Purepoint has instantly removed itself from competitiveness on the CD front, the 13-month no penalty CD remains a very attractive savings alternative at 2.50%.
Purepoint's 13-Month No Penalty CD is a product that we recommended when it launched at 2.60% and continued to recommend at 2.50%. The rate has now been cut to 2.00% and depositors should now look to the higher No Penalty rates from Marcus and Ally first.
Purepoint Financial has lowered its savings rate by 20 basis points today. Its savings rate now stands at 2.15%. This move follows recent moves to lower all of its CD rates and its No Penalty CD rate.
Purepoint was the most competitive online bank when they entered the market two years ago with great savings, CD and No Penalty CD rates. Now the savings rate is 0.40% APY and CD rates are no higher than 0.25% APY. If you are still attacted to the No Penalty CD product, you can get 0.15% APY on a 11-month or 0.10% APY on a 13 or 14-month product.
Purepoint MUFG Union is encouraged to provide us with this information. When we receive this information from the online bank, we will provide it here.
Customer Reviews for Purepoint MUFG Union (34)
UtahJazz1
June 10, 2022 |
This bank hasn't raised their rates! Maybe I was sleeping but I need to get out of here fast.
Is this review helpful? Yes:1 / No: 0
GAM
December 8, 2021 |
Marcus (GS) and Barclay high yield savings both 0.50%.
Is this review helpful? Yes:0 / No: 0
JZee73
May 20, 2021 |
Lost in all of these reviews is that Purepoint is the bank that let's you have tons of corresponding accounts to which you can ACH money (their limit is something like 10). So, if you want to play this game of earning more than you can get by leaving your money with Goldman Sachs, Morgan Stanley, Chase (and it is a game worth playing) and having FDIC insurance at all of them, Purepoint is basically the first account you should open as it enables you to get large amounts of cash fast in and out of the smaller banks.
Is this review helpful? Yes:3 / No: 1
Gustavo L 18
February 28, 2020 |
Purepoint is great. Only Citizens Access is better and I've had all of these. I have nothing to gain by saying this, but I would opt for Purepoint when the rates are comparable.
Is this review helpful? Yes:3 / No: 1
Jason
February 25, 2020 |
I've been using Purepoint for a couple years now never had a problem. Rates always seem to stay in the top 25% of online banks. No problem getting through to customer service and the quickest transfers I've found with online banks. I would recommend.
Is this review helpful? Yes:3 / No: 1
Add Your Review
or use your BestCashCow account