APY GUY: Maximize Your Savings & Earnings

Lauren Graves

TIAA Bank CD Rates – Now up to 5.00% APY!

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Fact Checked :

TIAA Bank, previously called EverBank, is an FDIC-insured bank based out of Jacksonville, Florida with an all-inclusive lineup of digital deposit accounts that can be opened online and by consumers in all 50 states.

These include CDs (certificates of deposit), an online savings account, money market account, checking account and even foreign currency CDs.

For the purposes of this review, we will focus on TIAA Bank’s CD rates. They offer 10 “Basic” CDs with terms ranging from 3 months to 5 years. They also have one “Rate Bump” CD with a 3.5 year term that allows for one rate increase during its life (if one is available).

To see if TIAA Bank’s CDs are right for you, continue reading below.

TIAA Bank CD Rates + Account Details

image credit: tiaabank.com

TIAA Bank’s certificate of deposit suite only consists of Basic CDs and the Rate Bump CD. As of 2023, TIAA discontinued their “Yield Pledge CDs.”

The Basic CDs come with a minimum deposit requirement of $1,000 and the Bump Rate CD comes with a $1,500 minimum.

Basic CD Rates

CD TermAPY
3 month4.00%
6 month4.00%
9 month5.00%
1 year4.75%
18 month4.60%
2 year4.40%
30 month4.10%
3 year4.10%
4 year4.05%
5 year3.95%
APY = Annual Percentage Yield

To put these yields into perspective, a 12 month CD and a 60 month CD have an average yield of just 1.59% APY and 1.37% APY, respectively, according to FDIC data. However, top yields from other FDIC-insured online banks and nationally available credit unions are approaching the 5.50% and 4.50% APY mark for the same respective terms.

Bump Rate CD

TIAA Bank’s Bump Rate CD is a promotional CD that gives users a one-time rate bump if one comes along before their certificate matures (sometimes banks refer to these as step-up CDs or step rate CDs).

TIAA Bank’s Bump Rate CD requires a minimum deposit of $1,500 to open.

CD TermAPY
3.5 years4.10%
APY = Annual Percentage Yield

Interest is compounded daily and credited according to your account agreement upon issuance.

How do TIAA Bank’s CD Rates Compare?

To get a better idea of how TIAA Bank’s CD rates stack up against the competition, take a look at the table below. It compares TIAA Bank’s best CD rate with some of the other top CD rates offered by competing banks across the country.

BankBest CD Rate (APY)
BMO Harris5.10%
PNC Bank4.00%
Truist5.00%
TIAA Bank5.00%
CD rates surveyed on June 9, 2023.

How Much Can You Earn with a TIAA Bank CD?

How much money you can make with a TIAA Bank CD is going to depend on your deposit size, the CD term you choose and its going APY (annual percentage yield). The table below shows potential earnings with some of TIAA Bank’s CDs assuming a deposit size of $10,000.

CD TermAPYEarnings
6 months4.00%$198.04
9 months5.00%$372.70
2 years4.40%$899.36
5 years3.95%$2,137.31
Earnings = Sum of all interest payments through maturity.

Grace Period and Early Withdrawal Fees

TIAA Bank allows for 10 calendar days (the grace period) upon your CD’s maturity in which you can add/withdraw funds, change terms, or close out the CD entirely without incurring any penalty fee. If nothing is done during the grace period your funds will automatically renew into a new CD of equal terms and the going yield at that time.

If you need funds prior to CD’s maturity, you will incur an early withdrawal fee.

Early withdrawal policies on Basic CDs are as follows:

  • 22 days’ interest on 3 month CDs,
  • 45 days’ interest on 6 month CDs,
  • 68 days’ interest on 9 month CDs,
  • 91 days’ interest on 1 year CDs,
  • 136 days’ interest on 18 month CDs,
  • 182 days’ interest on 2 year CDs,
  • 228 days’ interest on 30 month CDs,
  • 273 days’ interest on 3 year CDs,
  • 365 days’ interest on 4 year CDs, and
  • 456 days’ interest on 5  year CDs.

Other Deposit Accounts Offered

If you’re looking for a variable rate deposit account, TIAA Bank offers a “Yield Pledge” online savings account and a “Yield Pledge” money market account that both offer competitive rates.

Both come with first year intro APYs of 4.50% then lower, ongoing yields after that.

Yield Pledge Online Savings

Min. to openFirst Year APYOngoing APY
$04.50%4.10%
APY = Annual Percentage Yield

Yield Pledge Money Market

There is no minimum deposit requirement to open a Yield Pledge Money Market account.

BalanceFirst Year APYOngoing APY
$0 – $9,999.994.50%2.05%
$10k – $24,999.994.50%2.85%
$25k – $49,999.994.50%3.20%
$50k – $99,999.994.50%3.60%
$100k +4.50%4.00%
APY = Annual Percentage Yield

To put these yields into perspective, the average for a money market account and a savings account sit at just 0.59% and 0.40%, respectively, according to FDIC data. However the top yields from online banks are inching up to the 5.00% APY mark for both account types.

Interest is compounded daily and credited monthly on both the Yield Pledge savings and money market account.

Per federal regulation D, you are limited to 6 transfers each month. This includes ACH transfers, checks, internet, phone, and mobile-initiated transactions, and more. Should you exceed this limit excessively or frequently, TIAA Bank reserves the right to restrict your access further and transfer your balance into a Cash Reserves account.

Banking Experience and Customer Sentiment

Unlike many online banks today, TIAA Bank actually does offer ATM cash access at an impressive 80,000+ fee-free locations. TIAA Bank does not charge ATM fees and will reimburse out-of-network fees imposed by other institutions if your average daily balance is at least $5,000. If your balance is below this, you’ll be reimbursed up to $15. There are 11 TIAA Bank branch locations across Florida.

TIAA Bank offers both a Basic Checking and a Yield Pledge Checking account option. A TIAA Bank Basic Checking will not pay you interest, but a TIAA Bank Yield Pledge Checking is an interest-bearing account that earns 0.25% APY on all tiers at the time of this writing.

Overall, people seem to have a lukewarm impression of TIAA Bank from a customer experience perspective. Out of 119 user reviews left for the bank on WalletHub, 45% of reviewers gave the bank 3 stars for an average rating of 3 stars. And out of 23 reviews on DepositAccounts, TIAA Bank scored just 2.5 stars. 

Customer service at TIAA Bank could use some work, according to customers themselves. The overwhelming majority of negative reviews left for the company are related to bad experiences with customer support, with representatives being called condescending, rude, arrogant, and unhelpful by several users. Most positive reviews pertain to good rates and simple sign-ups.

The TIAA Bank apps, on the other hand, are supposed to be really solid. With 4.7 stars on the App Store and 4.5 on Google Play, it’s safe to assume that you can count on a user-friendly and comprehensive mobile banking experience through the TIAA Bank app.

TIAA Bank limits ACH transfers from a TIAA account to an external account to $50,000 daily and from an external account into a TIAA account to $250,000 daily.

To reach customer service, call the client solutions team at 1-(888)-882-3837 or tweet @TIAABankHelp. Representatives are standing by 7 days a week from 8 AM to 11 PM (ET).

Truist CD Rates – Now up to 5.00% APY!

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Truist, formerly SunTrust Bank, is a both a brick-and-mortar and online bank. Their branch locations are limited to a handful of states in the Southeast, but their personal banking products can be managed 100% digitally – making Truist and their deposit accounts accessible to just about anyone.

In this review we’ll cover Truist’s CD rates (certificates of deposit).

They currently offer just two CDs online – a 7 month and 12 month CD online. They may have additional offers in-branch, but you’ll have to stop by a location near you to see what (if anything) is available.

To see if Truist’s online CDs are right for you continue reading our review below.

Truist CD Rates + Account Details

image credit: truist.com

If you navigate to Truist’s certificates of deposit page you’ll see they claim to offer CDs with terms ranging from 7 days to 60 months. That said, if you’re opening an account online, they only offer a 7 month CD and a 12 month CD.

CD Rates

CD rates surveyed June 8, 2023.

Deposit SizeCD TermAPY
$0 – $49,9997 months5.00%
$50k – $99,9995.00%
$100k + (Jumbo)5.00%
$0 – $49,99912 months4.50%
$50k – $99,9994.50%
$100k + (Jumbo)4.50%
APY = Annual Percentage Yield

Truist’s CD rates are not competitive at this time and provide flat yields across all terms. For context, the national average for a 6 month CD and a 12 month CD sit at 1.19% and 1.59% APY, respectively, according to FDIC data.

However, top yields from online banks are inching close to the 5.50% APY mark for the same terms.

How Do Truist’s CD Rates Compare?

Take a look at the table below to see how the best CD rates offered by Truist stack up against the competition.

BankBest CD Rate (APY)
Chase Bank4.50%
Morgan Stanley5.27%
Santander Bank5.25%
Truist5.00%
CD rates surveyed June 8, 2023.

How Much Can You Make with a Truist CD?

The amount of money you can earn with a Truist CD is going to depend on your deposit size, the CD term you select and its going APY (annual percentage yield). Take a look at the table below to see how much you’d earn based on a $25,000 deposit.

CD TermAPYEarnings
7 months5.00%$721.75
12 months4.50%$1,125.00

Minimum Deposit and Rate Tiers

A minimum deposit of $1,000 is required to open a Truist CD.

If you go into a branch and are able to open a short term CD of 7 days to 31 days, the minimum deposit requirement is going to be $2,500.

As you can see from the table above, Truist CD rates are tiered and determined by deposit size (although all tiers pay the same APY currently). The tiers are as follows:

  • >$9,999
  • $10,000 – $49,999
  • $50,000 – $99,9999
  • $100,000+

All tiers currently pay the same rate and APY (annual percentage yield). This may change as rates continue to rise.

Early Withdrawal Penalties

With Truist, early withdrawal fees may result in a reduction of principal if accrued interest is not sufficient to cover the penalty. This is less forgiving than many CD accounts on the market. The fees are as follows:

  • CDs with a term of less than 3 months, the penalty shall be all interest that would have been
    earned or $25, whichever is greater.
  • CDs with a term of 3-12 months, the penalty shall be an amount equal to 3 months simple interest earned on the principal amount withdrawn or $25, whichever is greater.
  • CDs with a term of 13-23 months, the penalty shall be an amount equal to 6 months simple interest earned on the principal amount withdrawn or $25, whichever is greater.
  • CDs with a term 24 months or greater, the penalty shall be an amount equal to 12 months simple interest on the principal amount withdrawn or $25, whichever is greater.

Grace Period

For CDs with terms longer than 32 days the grace period will be a standard 10 calendar days upon maturity in which you may withdraw any and all funds from your deposit without incurring a fee.

For CDs with short terms that are 31 days or under, your grace period will be just 1 day.

You will receive a notice prior to maturity to let you know of the upcoming grace period. If nothing is done during this time, the CD will renew with the same term for the going rate and APY at that time.

Banking Experience and Customer Sentiment

If you’d like to open a CD in person, Truist has just over 2,700 branches in 15 states. You can locate a branch near you here. These states are as follows:

  • Alabama,
  • District of Columbia,
  • Florida,
  • Georgia,
  • Indiana,
  • Kentucky,
  • Maryland,
  • North Carolina,
  • New Jersey,
  • Ohio,
  • Pennsylvania
  • South Carolina
  • Tennessee
  • Texas
  • Virginia
  • West Virginia

In terms of consumer reviews, Truist doesn’t perform all that well. They have just a 1.09 out of 5 star rating on the BBB with over 2,171 consumer reviews and a 1.1 out of 5 star rating on Trustpilot with over 1,000 consumer reviews.

The Truist app performs much better with ​4.7 stars on Google Play​ with over 158k consumer reviews and ​4.7 stars on the App Store​ with over 500,000 ratings. The mobile and online platforms are said to be easy-to-use and relatively glitch-free.

T-Mobile MONEY – Earn up to 4.00% APY!

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Fact Checked :

T-Mobile partnered with Customers Bank to launch T-Mobile MONEY back in 2018. The account is FDIC-insured through Customers Bank up to the applicable limits.

If you’re not a T-Mobile customer, don’t worry, you don’t need to be to open the account, however, you won’t be eligible for the best APY (annual percentage yield) on your balance unless you have a wireless plan with them.

The account earns either 4.00% or 2.50% APY on balances up to $3,000 depending on whether or not you can meet their criteria.

To meet the criteria you must:

  1. Have a qualifying T-Mobile wireless plan.
  2. Register for perks
  3. Make at least 10 qualifying transactions with your T-mobile MONEY debit card per month. Instant payments to friends and family count towards this number as well.

If you do meet the criteria, you’ll earn 4.00% APY up to $3,000 followed by 2.50% APY on cash balances above that mark and if you don’t meet the criteria, you’ll earn 2.50% APY on your entire balance.

When the account launched in 2018 it provided these same yields – which were highly competitive at the time – but have failed to increase with the Fed’s series of rate hikes beginning in 2022.

To learn more about T-Mobile MONEY continue reading our review below.

T-Mobile MONEY Interest Rate + Account Details

T-Mobile MONEY requires a minimum opening deposit and an average daily balance of at least $1.00 in order to earn interest. There are no minimum balance requirements to avoid fees or account closure.

APY

Criteria MetBalanceAPY
Yes$3,000 or less4.00%
Yesmore than $3,0002.50%
No$3,000 or less2.50%
Nomore than $3,0002.50%
APY = Annual Percentage Yield

To put these yields into perspective, take a look at the current national averages for similar accounts (source: FDIC):

  • Interest checking – 0.07%
  • Money market account – 0.59%
  • Savings account – 0.40%

Top yields offered by FDIC-insured online banks and credit unions with nationwide acceptance are now inching over the 5.00% APY mark for similar accounts with no monthly requirements or balance caps.

How does T-Mobile MONEY Compare?

To get a better idea of how T-Mobile MONEY’s APY (annual percentage yield) stacks up against the competition, we’ve compared it to other variable rate deposit accounts in the table below. All of the accounts below also offer a complimentary debit card as well as a competitive APY.

AccountBalanceAPY
Gesa Credit Union SmartPlus Checkingup to $5,0005.00%
FNBO Direct CheckingAll balances0.15%
SoFi CheckingAll balances1.20%
T-Mobile MONEYup to $3,0004.00%
Rates (APYs) surveyed on June 8, 2023.

Pros and Cons

Take a look at the Pros and Cons of the T-Mobile MONEY account below.

Pros:

✅ Early access to paycheck (up to 2 days early) once you set up direct deposit.

✅ Free debit card (Mastercard) with free access to 55,000 ATMs.

✅ Save $5 per eligible phone line per month when you pay with your T-Mobile MONEY debit card and set up AutoPay.

✅ Get cash back dining out, travel and more when you use your T-Mobile MONEY debit card through participating businesses. Learn more here.

✅ No overdraft fees, plus they’ll spot you $50 if you overdraft when criteria is met.

✅ Mobile check deposit via their IOS or Android app.

✅ High interest rate on first $3,000 when criteria is met.

✅ Low minimum to open and no monthly balance requirements.

✅ FDIC insurance up to $250,000.

Cons:

🛑 No physical branches.

🛑 Very difficult to deposit cash and you’ll likely be charged 3rd party fees to do so. See FAQ section below for more details.

Compounding and Crediting Interest

Interest is compounded monthly and credited back to your account monthly.

Transferring MONEY

There are a few different ways to move MONEY in and out of this account.

First, you may fund the account via:

  • Direct deposit
  • Mobile check deposit
  • ACH bank transfer
  • Cash deposit (at more than 65,000 participating merchants including select Walgreens, Walmart, 7-Elevens and CVS locations)

You may make a transfer as a one-time transaction or set up recurring transfers from a linked bank account to fund this account.

For recurring payments going out of your account you can set up the bill pay feature. There is no charge for using this service. Transactions up to $10,000/each are permitted when using bill pay and there is a daily limit of $20,000.

You can also send money to friends and family directly from your MONEY account.

Here’s how:

  1. Go to Move money.
  2. Select Pay friends > Send money. 
  3. Select a friend to receive the payment (the recipient must accept your friend request to appear on this list).
  4. Review and confirm the recipient and payment amount before completing the transfer. Payments can’t be canceled or returned once sent.

📌 Please note: T-Mobile MONEY does not support requesting payments from friends at this time.

There is a $500 daily limit when sending money to friends or family and a $5,000 monthly limit (30 day rolling period).

📌 Please note: Incoming and outgoing wire transfers are not permitted for any account holders.

T-Mobile MONEY Debit Card

This account comes with a free Mastercard debit card that does not charge foreign transaction fees or card replacement/activation fees.

You’ll have free access to 55,000 ATMs worldwide and T-Mobile does not impose a fee for using 3rd party ATMs (although the 3rd party likely will).

You can withdraw up to $500 per day from ATMs using this card and make up to $2,500 in combined PIN, point-of-sale, or signature-based transactions per day. PIN transactions may not exceed $500 each.

Early Direct Deposit

This account offers early direct deposit to all account holders. To use this feature, just link your direct deposit to this account and it will automatically become eligible for early transfer. And during tax season, you can get your refund up to three days early when you choose to receive it via direct deposit and use your T-Mobile MONEY account.

Overdraft Protection

Overdraft protection up to $50 is also available, but it is offered exclusively to T-Mobile phone customers. There is no fee for using overdraft protection. To enroll, you need to make at least 10 qualifying purchases using your debit card in the first month, and then you will receive this benefit for as long as your account is open.

Regions Bank CD Rates – Now up to 5.00% APY!

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image credit: regions.com

Regions Bank​, headquartered in Alabama, is a sizable full-service financial institution serving customers across 16 U.S. states.

Although it is geographically limited, it is still the 23rd largest bank in the country by asset size.

Regions Bank is also a member of the S&P 500 with its $129 + billion in assets. This traditional, regional bank is available to anyone that lives in the following states:

  • Alabama,
  • Arkansas,
  • Florida,
  • Georgia,
  • Illinois,
  • Indiana,
  • Iowa,
  • Kentucky,
  • Louisiana,
  • Mississippi,
  • Missouri,
  • North Carolina,
  • South Carolina,
  • Tennessee, or
  • Texas.

Those that qualify for membership may choose to bank in-person at a branch, or digitally by enrolling in online banking.

Checking, savings, money market, and CD accounts are eligible for online banking.

Find out all there is to know below—from savings rates to disclosures—and what its members have to say about banking with Regions.

Regions Bank CD Rates + Account Details

Regions Bank offers “Relationship Rates” and Promotional Relationship Rates.” Their Relationship Rate CDs are not competitive at this time, however, their Promotional Relationship CDs are starting to nudge upwards.

For exact rates being offered near you, you’ll need to search the ​Regions CD rate search tool​.

The CD rates shown below were surveyed on June 5, 2023 using a Miami, Florida zip code (33012).

CD Rates Promotional

Regions Bank Promotional CDs require a minimum deposit of $10,000 to open. To obtain the higher “Relationship” rate you must open and maintain a Regions checking account.

TermStandard APYRelationship APY
7 months4.75%5.00%
13 months4.75%5.00%
26 months3.75%4.00%
APY = Annual Percentage Yield

CD Rates Non-Promotional

A minimum deposit of $2,500 is required for terms of 7 – 89 days and a minimum deposit of $500 is required for all other terms.

CD TermStandard APYRelationship APY
1 – 5 months0.01%0.01%
6 months0.01%0.03%
8 – 12 months0.01%0.03%
14 – 17 months0.01%0.03%
18 – 23 months0.01%0.03%
24 – 25 months0.01%0.05%
27 – 35 months0.01%0.05%
36 – 47 months0.01%0.05%
48 – 59 months0.01%0.05%
60 – 72 months0.01%0.05%
APY = Annual Percentage Yield

As you can see, there are plenty of CD terms to choose from at Regions Bank but the rates offered are very low unless you opt for a promotional CD. To give the offers (above) a little more context, the national average for 12 month and 60 month CDs sits at 1.59% and 1.37%, respectively, according to FDIC data.

That said, the top CD rates from online banks and nationally available credit unions are inching over the 5.00% APY and 4.50% APY mark for the same respective terms.

Compounding and Crediting Interest

Interest is compounded daily and paid monthly, quarterly, semi-annually, annually, or at maturity, depending on your term. If a certificate is 1 year or more, interest is credited quarterly back into it unless you’ve asked for these payments to be disbursed to another checking or savings account in which case you may choose the disbursement frequency.

Grace Period and Early Withdrawal Penalties

The grace period on a Regions Bank Time Deposit account is 10 days and early withdrawal fees will come with the following charges/fees:

  • For terms of 31 days or less, you will be charged all the interest your account would have earned;
  • for terms of 32 – 181 days, you will be charged 31 days’ interest;
  • for terms of 182 – 364 days, you will be charged 90 days’ interest;
  • and for terms of 365 or more, you will be charged 182 days’ interest.

Regions Savings Accounts + Money Market Account Details

All of Regions deposit accounts (both fixed rate and variable) are FDIC insured up to the legal limit of $250,000.

For a savings account option, you can choose from the LifeGreen account, the Regions Savings account, and the Now Savings account, but their savings rates aren’t providing much in the way of returns to consumers.

Savings Rates

Account NameMin DepositAvoid FeeAPY
LifeGreen Savings$50Must have checking account or $5/mo0.01%
Regions Savings$50$300 avg. daily balance or $5/mo0.01%
Now Savings$10None0.01%
Money Market$100$2,500 avg. daily balance or $12/mo0.01% – 0.05%
Premium Money Market$100$15k avg. daily balance or $15/mo1.50% – 3.50%
APY = Annual Percentage Yield

Average savings account rates sit at 0.40% while average money market account rates sit at 0.59% according to the FDIC, but the most competitive variable-rate accounts on the market are close to 5.00% APY with no minimum balance requirements or monthly fees.

LifeGreen Savings Account Details

You’ll need to search rates by area to be sure what Regions Bank is offering in your location, but across several zip codes, 0.01% is what you’ll get on a LifeGreen Savings account regardless of your balance.

Now for some good news. This account also comes with a 1% annual savings bonus of up to $100. To nab this bonus rate, you’ll have to set up automatic monthly transfers of $10 or more from your Regions LifeGreen checking account into your savings account.

Regions Savings Account Details

A ​Regions Savings​ won’t do you any better in earnings as it also pays a rate of 0.01%. This account requires a minimum opening deposit of $50 and an average daily balance of $300. If your balance is below this, you’ll be charged a monthly low balance fee of $5. A Regions Savings account does not pay a savings bonus.

Regions Now Savings Account Details

Finally, there is the ​Regions Now Savings​ account, and this has an APY of—you guessed it—0.01%, but it’s a little more flexible than the last one. Requiring a minimum opening deposit of $10 and absent maintenance fees, this account is fairly easy to get. The only account opening requirement is that you have a ​Regions Now Card​, a reloadable Visa Prepaid Card.

Although you don’t ​need ​a Regions checking account to open a Now savings account, this savings account also comes with a 1% annual savings bonus of up to $100 if you set up monthly transfers from a checking account. And for every month that you make a deposit of at least $5 into this and don’t make any withdrawals, you’ll get a $1 bonus. A Now savings account is the only savings account mentioned so far that will always earn the same rate across all balances.

Dividends on all Regions savings accounts are compounded daily and paid monthly. Excessive withdrawals outside of the federally-enforced limit of 6 will cost you $3 each.

Regions Bank Money Market Account Details

If you’re looking for an alternative or addition to these standard savings accounts, Regions Bank also offers ​Money Market Accounts​ and ​Premium Money Market Accounts​. Their normal money market accounts aren’t competitive at this time and yield just 0.01% APY. Their Premium Money Market Accounts pay a better interest rate on your balance but still fall far short of top yields from other online banks.

The annual percentage yield is determined by your balance amount. See the table below for details.

Premium Money Market Account Rates

BalanceAPY
$0.00 – $9,999.991.50%
$10k – $49,999.992.00%
$50k – $99,999.992.50%
$100k – $249,999.993.50%
$250k +3.50%
APY = Annual Percentage Yield

To put these yields into perspective, the current national average for a money market account sits at 0.59% APY according to FDIC data.

You can open either type of MMA with a deposit of $100, but a Money Market Account requires a minimum average daily balance of only $2,500 to avoid a $12 monthly maintenance fee while the Premium MMA requires $15,000 or a LifeGreen Preferred checking account (an interest-bearing checking account with high balance requirements) to avoid a $15 monthly maintenance fee. Excessive withdrawal from a money market account will cost you $15 a piece.

Regions Bank Fee Schedule

Depending on which actions you take with your Regions Bank account and how you move your money about, you may encounter fees from time to time.

Below is a complete list of potential fees and account limitations you may come across:

ActionFee/Limitation
Domestic Wire (inbound)$15
Domestic Wire (outbound)$30
Insufficient Funds Fee$36
Overdraft Fee$36
Monthly Service Charge$12
Is the Monthly Service Charge Avoidable?Yes
Permitted Monthly Withdrawals6
Max Number of Checks per Month6
Online BankingYes
Online Bill PayYes
Online StatementsYes

Banking Experience and Customer Sentiment

When you bank with Regions, you’ll have access to over 1,952 ATMs in the bank’s cross-state service area and branches. There are around 1,454 branch locations in 16 states, and you can use the site’s ​locator​ to see if there’s an ATM or branch location near you. Keep in mind that Regions will not reimburse out-of-network ATM charges.

Regions Bank users are mostly content with what this institution brings to the table. Out of ​2,100 customer reviews left on WalletHub​, Regions Bank pulled 3.8 stars, suggesting that the bank might provide a better banking experience than it does opportunities for significant savings growth.

The app for this bank is well-liked on both Google Play with a rating of 4.8 stars and on the App Store with a rating of 4.8 stars as of June, 2023.

It should be noted that the recently-updated Regions Bank website is rather poor. Though mostly comprehensive, the site is difficult to use and makes tracking down information excessively tedious. You’ll need to perform individual searches for rates on all accounts in your area and even important information such as ACH transfer limits, which aren’t listed because they “may vary by account.” Both sending and receiving daily and rolling transfer limits are determined on an individual basis, so you won’t know what yours are until you contact support at 1-800-472-2265 (the number for online banking support).

Regions Bank customer service can be reached in a variety of ways. The live chat feature on the bank’s website offers quick response times for simple questions, but a call to the customer service center at 1-800-734-4667 can also get you the help you need. If you have questions about Regions credit cards, mortgages, or loans, find the ​extension​ devoted to your inquiry topic. Tweet @askRegions to get support via social media or send a ​secure email through this form​.

Navy Federal Credit Union CD Rates – Up to 4.85% APY!

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Navy Federal Credit Union is the largest credit union in the nation by a wide margin and has been since the 1960s.

In fact, they blow other credit unions out of the water by asset size and membership numbers. They hold more than $156.8 billion in total assets from just over 12.4 million members.

This massive financial cooperative was founded in 1933 by Navy Department employees as the Navy Department Employees’ Credit Union of the District of Columbia.

Dropping the unwieldy name and extending membership to all Navy employees worldwide (rather than just those in D.C.), the credit union became known as the Navy Federal Credit Union in 1954.

Fast forward to today and you no longer have to be affiliated with the Navy to become a member of Navy Federal, but you do need to have military ties within your family to join.

To be eligible to join Navy Federal, you must have ties to the Department of Defense, the armed forces, the National Guard, or have a family member that does. Navy, Marines, Army, Air Force, Space Force, and Coast Guard active duty and retired members all qualify for membership. This credit union is not open membership and you may not join if you do not meet the above membership criteria.

The good news is that you don’t have to live near Virginia to access Navy Federal branches or ATMs. There are 350 branches worldwide, some on military bases and some overseas in 26 international locations. In the U.S., Navy Federal has branches in metro D.C., Virginia, California, and Florida. They do not participate in shared branching, but they are part of a network of over 30,000 co-op ATMs.

To see if NFCU and their deposit accounts are right for you, continue reading our review below.

Navy Federal Credit Union CD Rates + Account Details

Navy Federal Credit Union’s CDs (certificates of deposit) are federally insured by the NCUA up to $250,000 per depositor or $500,000 for joint accounts.

NFCU is unique in that it offers several different types of certificates, some standard and some variable-rate; some short-term and some requiring much longer investments.

CD Rates

CD TermAPYAPY
deposit amount:$1,000 – $20k$100k +
3 months1.25%1.30%
6 months0.45%0.50%
12 month4.40%4.45%
18 months4.50%4.55%
24 months4.20%4.25%
3 year4.20%4.25%
5 year4.00%4.05%
7 year4.00%4.05%
APY = Annual Percentage Yield

Standard certificate accounts require a minimum deposit of $1,000.

To put these rates in perspective, the current national average for a 12 month CD and a 60 month CD sit at 1.59% and 1.37% APY, respectively, according to FDIC data.

NFCU also offers EasyStart and Special EasyStart certificates. They have slightly higher yields and much lower minimum deposit requirements. See rates and terms below.

Easy Start CD Rates

CD TermAPY
6 month0.40%
12 month (max $3,000)4.85%
12 month (no max)4.35%
18 month4.45%
24 month4.15%
APY = Annual Percentage Yield

The EasyStart certificate only requires an opening deposit of $50. As mentioned, they earn slightly lower APYs than their standard CD counterparts. These are great options for kids, teens or those who can’t meet the higher deposit requirement.

There is no maximum balance or account limit associated with these CDs.

The Special EasyStart certificate is a 12 month term CD with a $50 minimum deposit requirement and a $3,000 maximum. Balances within this range can earn 4.85% APY.

A Special EasyStart certificate account is available only to Navy Federal customers that have checking and direct deposit accounts with Navy Federal. Money may be added to EasyStart certificates at any time. Customers are limited to one Special EasyStart account per member.

All certificate dividends are compounded daily and credited monthly. Dividends will be deposited to the certificate account automatically unless a dividend distribution option is chosen when the account is opened.

How Much Can You Make with a CD from NFCU?

How much money you earn with a Navy Federal Credit Union CD is going to depend on your deposit size, the CD term you choose and its going APY (annual percentage yield). Below is a table displaying earnings from a handful of NFCU’s CD accounts assuming a deposit size of $10,000.

CD TermAPYEarnings
12 months4.40%$440.00
2 years4.20%$857.64
3 years4.20%$1,313.66
5 years4.00%$2,166.53
Earnings = Total sum of all interest payments through maturity.

How do NFCU’s CD Rates Compare?

Take a look at the table below to see how Navy Federal Credit Union’s best CD rates stack up against other credit unions and their top rates.

Credit UnionBest CD Rate (APY)
Delta Community Credit Union5.00%
First Tech Credit Union5.05%
Mountain America Credit Union5.50%
Navy Federal Credit Union4.85%
CD rates surveyed June 6, 2023.

Grace Period and Early Withdrawal Fees

Upon the maturity of your Navy Federal Credit Union CD you will be provided with a generous 21 day grace period in which you may modify your CD or close it out. If nothing is done during this period, your CD will automatically renew with the same term and the going APY at that time.

If you need funds prior to your CD’s maturity, you will face an early withdrawal penalty fee. The fee structure is as follows:

  • CDs with terms of 12 months or less will be charged fees equal to whichever option costs less: 90 days’ interest or all dividends on the amount withdrawn since issuance/renewal.
  • CDs with terms greater than 12 months will cost either 180 days’ interest or all dividends on the amount withdrawn since issuance/renewal and from terms of five years or more will cost 365 days’ interest or all dividends.

Navy Federal Credit Union Money Market Rates + Account Details

Navy Federal money market savings accounts are fine, but you’ll see that they’re not particularly attractive.

Money Market Rates

BalanceAPY
$0 – $2,4990.00%
$2,500 – $9,9990.95%
$10k – $24,9991.06%
$25k – $49,9991.10%
$50K +1.50%
APY = Annual Percentage Yield

The current national average for money market accounts sits at just 0.48% APY, however better rates can be had through FDIC-insured online banks which now feature APYs above the 4.00% mark.

A $2,500 minimum average daily balance is required to earn interest, but you won’t be charged a fee if your balance drops below this. Dividends are compounded and credited monthly. For every transaction you make over the six transaction limits enforced under federal regulation D, you’ll be charged $10.

If you can maintain higher balances in your money market account, you may be eligible for jumbo rates which are slightly better than those listed above. See their jumbo rates below:

Jumbo Money Market Rates

BalanceAPY
$0 – $99,9990.25%
$100k – $249,9991.65%
$250k – $499,9991.85%
$500k – $999,9992.05%
$1m +2.25%
APY = Annual Percentage Yield

Other Savings Accounts Offered Through Navy Federal Credit Union

An initial share with Navy Federal costs $5 and gets you a Share Savings Account. This is also how much you’ll need to keep in your savings account. With an APY of 0.25%, this savings product isn’t ideal for growing your money, but it doesn’t come with many inconveniences such as monthly maintenance or low balance fees. It does come with a $3 quarterly inactivity fee if your account is inactive for 12 months during any given quarter. Dividends are compounded and credited monthly.

Navy Federal also offers a SaveFirst Account with an APY of 0.40%. With a slightly better rate of return but equal minimum deposit, this account is a better option for anyone wanting to put money away for designated purposes like weddings or vacations. Select a term between 3 months and 5 years and watch your deposit grow (a little). Dividends are compounded daily and credited monthly. This savings account is going to earn you more than a share savings account, but a money market account might be a better option.

Edward Jones CD Rates – Now up to 5.25% APY!

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Edward Jones is a brokerage firm you’ve likely heard of over the years as it passes a century in age.

Founded in 1922, Edward Jones now has over 8 million clients with a combined $1.5 trillion in assets managed by over 19,000 financial advisors as of Q3 of last year.

Edward Jones also offers consumers a number of competitive brokered CD (certificate of deposit) accounts with competitive yields on terms ranging from 3 months to 10 years.

Because Edward Jones is a brokerage firm and not an actual bank they don’t issue their own CDs. Instead, they ‘broker’ or re-sell a range of deposits issued by banking institutions that they’ve partnered with which provide FDIC coverage. We go into more detail on brokered CDs further below.

Edward Jones CD Rates + Account Details

image credit: edwardjones.com

All Edward Jones CDs require a minimum deposit of $1,000 to open. Please note that 7 and 10 year CDs are not available at this time.

CD Rates

CD TermAPY
3 months5.20%
6 months5.25%
9 months5.25%
1 year5.25%
18 months5.15%
2 years4.90%
30 monthsNA
3 years4.60%
4 years4.55%
5 years4.45%
7 yearsNA
10 yearsNA
APY = Annual Percentage Yield

The rates above were surveyed on June 2, 2023. These yields and terms may not be available in all states.

To give these offers some context, the current national average for a 12 month CD and a 60 month CD sit at 1.59% APY and 1.37% APY, respectively, according to recent FDIC data.

How Much Can You Make with an Edward Jones CD?

The amount of money you can earn with an Edward Jones CD is going to depend on your deposit size, the term you select and its APY (annual percentage yield). Take a look at the table below to get an idea of how much you’d earn with a handful of Edward Jones CDs assuming a deposit size of $100,000.

CD TermAPYEarnings
6 months5.25%$2,591.42
12 months5.25%$5,250.00
2 years4.90%$10,040.10
5 years4.45%$24,320.35
Earnings = The sum of all interest payments through maturity.

How do Edward Jones CD Rates Compare?

If you’re wondering how Edward Jones CD rates compare with other brokered CD rates, take a look at the table below. We’ve pitted Edward Jones against other well known brokerages and their best CD rates.

BrokerageCD TermAPY
Edward Jones6 month5.25%
Charles Schwab10 month5.50%
Morgan Stanley11 month5.27%
Fidelity3 month5.35%
Vanguard10 month5.50%
CD rates surveyed June 2, 2023.

Edward Jones Brokered CDs Account Details

A few crucial distinctions must be made between standard CDs and Edward Jones’s brokered CDs.

The most important of these being that you do not open or manage brokered CDs yourself. On top of that, the actual CD isn’t technically a product of Edward Jones at all. Instead Edward Jones purchases a CD for you from one or many different banks in partnership with this firm.

You can open new CDs with Edward Jones or you can purchase secondary CDs.

If you open a new CD with Edward Jones you will not have to pay any commission fees. Edward Jones will receive a concession from the bank that takes your deposit, but this is already factored into the price.

If purchasing a CD on the secondary market, you will have to pay Edward Jones a commission just like you would purchasing stock. You can see what commission they take in the trade confirmation.

A benefit of Edward Jones brokered CDs is that they don’t have early withdrawal penalties. If you need to cash out of your deposit early you can simply sell it to another investor on the secondary market.

Unfortunately, this also means there is an inherent downside to these products in that their price fluctuates on the open market and can feasibly be sold for less than the purchase price.

For example, if you open a 5 year deposit and need the funds after year 2, during which time interest rates have risen considerably, you may have a tough time selling your deposit for your full purchase price.

Conversely, if you purchase a 5 year deposit and rates drop significantly (which they have) then you may find investors willing to offer a premium on your CD on the secondary market.

Also note, interest earned on Edward Jones CDs does not compound. This is true of most brokered CDs as they require an immediate distribution of interest. The terms of your personal CD will tell you how often the interest on your account is credited and where.

Brokered CDs with Edward Jones do not automatically renew.

How to Purchase a CD Through Edward Jones

To open a brokered CD with Edward Jones, you’ll first need to set up a brokerage account with them if you don’t have one already. Edward Jones is a full service brokerage account with no minimum deposit requirements for account opening.

Opening up an Edward Jones brokerage account can be done online, however purchasing an Edward Jones brokered CD can not. For this you will have to go to a local office and fill out the paperwork. They will provide you with a prospectus to look over and discuss your options with you before you make any decisions.

As soon as your initial deposit clears, you are free to buy a new CD or a secondary CD through your Edward Jones broker.

Additional Deposit Accounts Offered Through Edward Jones

Edward Jones is a member of SIPC and deposit products with this firm are insured up to $250,000 per depositor.

In addition to its extensive suite of investment products and brokered CDs, this firm also offers money market funds and a cash management account.

Edward Jones Money Market Funds

Money market funds offered at Edward Jones, and most other brokerage firms, are not money market accounts. Money market funds are simply liquid mutual funds with good cash access. Money market accounts are federally insured deposit accounts with a guaranteed return of principal plus accrued interest.

Because money market funds are mutual funds with cash access, they do not guarantee that you will receive a full return on your principal.

On top of that, the cash in a money market fund may be used to invest in CDs or other short-term investments, but deposits into these funds are not FDIC insured.

Edward Jones money market funds are available as investment shares and retirement shares – both of these taxable options. You will be charged a $3 monthly maintenance fee for retirement share class money market funds with balances below $1,500 and a $3 monthly maintenance fee for investment share class money market funds with balances below $2,500. Talk with your advisor about cash and cash equivalents available for you to invest in with your money market fund—this will vary. 

There is no minimum investment required to open a money market fund and the current 7-day yield per share is 0.01%.

On the positive side, these money market funds make withdrawing and using money simple because they allow you to write unlimited checks and use a Visa debit card. Transactions and withdrawals are unlimited, unlike money market accounts.

Edward Jones Flex Funds Account (Cash Management Account)

An Edward Jones Flex Funds account is a cash management account that earns interest on your uninvested balance.

There is no annual fee and you can write up to 120 checks per year free of charge. This account is insured up to $1.5 million leveraging multiple banks’ $250,000 FDIC deposit insurance using the “Bank Sweep Program.”

With a Flex Funds account, you can set short-term savings goals for yourself and easily track your progress toward them. Your financial advisor can go through the details about how to strategize saving and investing with this account, but you have a lot of options and flexibility overall with a product like this.

Account Set-Up and Management

Edward Jones allows you to make quick and easy deposits into your account(s) and transfer funds electronically. You can enroll in online bill pay and link a direct deposit to one or more of your savings or investment accounts. Mobile check deposit is another feature included on the Edward Jones native apps for both Google Play and App Store, where they score an impressive 4.8 out of 5 on both platforms.

Final Thoughts

Edward Jones is a more than satisfactory brokerage firm and its brokered certificates of deposit are offering some competitive yields on short-term and mid-range CDs.