Sallie Mae Bank review: high APYs, no monthly fees

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  • Sallie Mae Bank (Member FDIC) is an online bank that offers savings accounts, a money market account, and CDs.
  • The SmartyPig savings account lets you name individual savings goals and set deadlines.
  • The bank doesn’t have a checking account, so you’ll have to transfer funds to an external bank account to access your savings, which could take a couple business days.
  • Sallie Mae pays competitive rates on its savings and money market accounts, but you can find better CD rates elsewhere.
  • See Business Insider’s picks for the best CD rates »

You might like Sallie Mae if you:

  • Are comfortable banking digitally
  • Want to earn a competitive APY on a
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Brazil’s central bank examines the benefits of a CBDC

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The Central bank of Brazil — or Banco Central do Brazil — is laying the groundwork for a Central Bank Digital Currency (CBDC) with an official statement revealing it has already formed a dedicated group to study the crypto industry.

According to the central bank, the team consists of 12 members in an intergovernmental group that will assess how the CBDC could fit with the national payments ecosystem and what its impact could be on the economy and the society.

Previous reports detailed that Brazil spends around 90 billion reals ($16 billion) annually to guarantee a functional supply of paper money in circulation, representing between 1% and 2% of its GDP. 

The central bank says that the new group will examine how much money will be saved by issuing CBDCs and if it will be beneficial overall for the national economy. 

Rafael Sarres de Almeida, an official from the Information

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Billionaire Greensill’s German Bank Draws Regulatory Scrutiny

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(Bloomberg) — When billionaire Lex Greensill won an $800 million investment from the SoftBank Vision Fund last year to develop new technology and expand his trade-finance empire, the bulk of the money went to a small, unprofitable German lender.

Greensill Bank, a 93-year-old firm known as NordFinanz Bank AG until the Australian financier bought it in 2014, suddenly found itself flush with capital. The size of its balance sheet increased more than seven-fold while it offered above-market interest rates to attract deposits that it would then invest in assets sourced by its parent, Greensill Capital.

Balance Sheet Leap

© Bloomberg
Balance Sheet Leap

The growth of the Bremen-based bank has attracted the scrutiny of Germany’s main regulator as well as its deposit-insurance program, according to people familiar with the matter. They worry that too many of the assets on the bank’s books are ultimately tied to the same source: British-Indian entrepreneur Sanjeev Gupta.

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TD Bank, Detroit’s Autobooks Launch Online Small Biz Accounting Platform

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a sign on the side of a building

© Provided by Benzinga

TD Bank announced a launch this week of the TD Online Accounting Platform in partnership with the Detroit-based financial accounting company Autobooks.

Built for Small Business Owners: TD Bank announced the service as a tool built for small business owners. 


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It can be used with existing online banking features and can easily track paid or outstanding invoices, according to TD Bank. 

The TD Online Accounting Platform will get payments to businesses faster, as well as save time and money, the bank said. 

How Autobooks Supports Online Payments: Cash flow support is a must for small businesses, which need to keep money coming in, Derik Sutton, Autobooks’ vice president of product and experience, told Benzinga in an email. 

With payments shifting from physical transactions to online, banks need to equip small businesses and nonprofits to accept online payments, the Autobooks exec said. 

“TD Bank’s

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SBI vs Axis Bank vs Canara Bank vs ICICI Bank

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Axis Bank latest FD interest rates (below 2 crore) for general public

7 days to 14 days 2.50%

15 days to 29 days 2.50%

30 days to 45 days 3%

46 days to 60 days 3.25%

61 days < 3 months 3.25%

3 months < 4 months 4.10%

4 months < 5 months 4.10%

5 months < 6 months 4.10%

6 months < 7 months 4.50%

7 months < 8 months 4.50%

8 months < 9 months 4.50%

9 months < 10 months 4.75%

10 months < 11 months 4.75%

11 months < 11 months 25 days 4.75%

11 months 25 days < 1 year 5.20%

1 year < 1 year 5 days 5.20%

1 year 5 days < 1 year 11 days 5.15%

1 year 11 days < 1 year 25 days 5.15%

1 year 25 days < 13 months 5.15%

13 months < 14 months 5.15%


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Video shows scammers getting free money from Santander Bank ATMs

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A video is circulating online that gives a step-by-step “how-to” for hacking Santander Bank ATMs — a scam that has plagued the area and led to a police chase on Staten Island yesterday, police sources said.

The video, which was viewed by The Post, never actually shows the man getting cash out of the machine, but the sounds of the ATM counting the bills can be heard once he completes the process.

The scam targets a flaw in Santander’s ATM where people use pre-paid debit cards and withdraw more money than the actual balance, sources said.

The multi-state scam was first revealed Tuesday when cops swarmed a bank in Staten Island looking for two scammers, according to video of the incident and police sources.

Videos posted online show a large police presence at the bank near Great Kills Park. Police sources said cops had one man in custody Tuesday and

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Smart Money Recently Increased Its Stake in This Bank Stock

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Two prominent investors bought more shares of Investors Bancorp (NASDAQ: ISBC) in the second quarter, a time when a lot of smart money appeared to be negative on the banking sector. Specifically, bank hedge fund EJF Capital and community bank activist investor Lawrence Seidman both significantly increased their stakes.

According to 13F reports filed with the Securities and Exchange Commission, EJF Capital increased its stake in Investors Bancorp from 30,000 shares as of March 31 to 200,000 shares as of June 30, a 566% increase. Seidman is a longtime bank investor who will frequently buy a large stake in a public bank and join its board. Seidman increased his position in the roughly $27 billion asset bank from 45,000 shares to more than 117,000, representing a 160% increase.

Following the smart money is a popular investment strategy. EJF Capital was recently down about 20% on the year, according to The

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ECB addresses stronger euro, says it will ‘carefully monitor’ exchange rate

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  • The euro hit a 1-week high of $1.1902 during the press conference following the policy decision.
  • “The Governing Council discussed the appreciation of the euro, but as you know we don’t target the exchange rate,” ECB President Christine Lagarde said in a press conference Thursday.
  • The ECB decided Thursday to keep its interest rates and coronavirus-stimulus program unchanged. 

Christine Lagarde wearing a suit and tie: European Central Bank (ECB) President Christine Lagarde addresses a news conference on the outcome of the meeting of the Governing Council in Frankfurt, Germany, January 23, 2020.

© Provided by CNBC
European Central Bank (ECB) President Christine Lagarde addresses a news conference on the outcome of the meeting of the Governing Council in Frankfurt, Germany, January 23, 2020.

The European Central Bank said it discussed the recent appreciation of the euro at its policy meeting on Thursday and will “carefully monitor” the exchange rate going forward.


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The euro hit a 1-week high of $1.1902 during the press conference following the policy decision. It has risen over 5% against the the U.S. dollar since the start of July

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REVEALED! Why Yes Bank share price is skyrocketing today

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© Provided by Zee Business

Yes Bank share price has skyrocketed over 4.5 per cent today and hit Rs 14.55 per stock levels. Zee Business research team is of the opinion that yesterday’s outcome at the AGM of the private lender is the major reason for this rise in Yes Bank shares. It reported that Yes Bank has deposited entire Rs 50,000 crore of the Special Liquidity Facility (SLF) of the Reserve Bank of India (RBI) after depositing Rs 15,000 crore to the RBI on 8th August. Apart from this, the private lender completely defied the news of Yes Bank and SBI merger and said that there is no such official information to the private lender.

See Zee Business Live TV streaming below:

Decoding the outcome of Yes Bank AGM held yesterday and its impact on the Yes Bank share price rally today, Zee Business TV reported, “Within four months

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