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E-LOAN is an online-only financial services company that is available to everyone nationwide. They are best known for their decent rates on their Online High Yield Savings Account, and very good rates for their CD accounts. They also specialize in partnering with well-known loan providers for meeting such needs.
*Update: Per the ELoan website:
If you started an account opening process before March 31, 2017, you will be able to complete it before May 12, 2017.
For new deposit needs, we would like to introduce you to Popular Direct.
eloan Existing Customers
Effective Monday May 15, 2017, your current eloan® deposit products will become Popular Direct products. Popular Direct is the direct online channel owned and operated by Banco Popular North America (BPNA), the same banking institution that maintains your eloan® account.”
E-LOAN.com Online CD Rates
*Update History:
E-LOAN.com specializes in providing some of the best rates for CD accounts in the market. While they set themselves apart in this regard, the possible downside is that their minimum deposit requirements are higher than most at $10,000. For the most part it shouldn’t matter so much as most customers who are trying to take advantage of the high rates typically invest at least that minimum.
- $10,000 minimum deposit required
- FDIC insured
- Absolutely no fees
- As with all CDs, a penalty will be imposed for early withdrawal
| APY | CD Term |
| 0.05% | 1 Month |
| 0.05% | 2 Month |
| 0.50% | 3 Month |
| 0.75% | 6 Month |
| 0.45% | 9 Month |
| 1.28% | 1 Year |
| 1.35% | 18 Month |
| 1.35% | 2 Year |
| 1.50% | 3 Year |
| 1.65% | 4 Year |
| 1.80% | 5 Year |
| 1.55% | 6 Year |
E-LOAN.com High Yield Online Savings
While E-LOAN does offer an Online Savings account that easily beats rates from traditional banks, there are plenty other online banks with better rates currently. Discover Online Savings and Capital One 360 Savings are two options with better rates. While the rates aren’t that good, Chase Bank’s Savings account has a sign-up bonus offer.
E-LOAN’s Online Savings account requires a $5,000 minimum deposit, but there are no fees to worry about. The higher balance tiers offer the best rates.
| Opening Balance | APY |
| $100,000 or Greater | 0.40% |
| $50,000 to $99,999.99 | 0.35% |
| $25,000 to $49,999.99 | 0.30% |
| $10,000 to $24,999.99 | 0.25% |
| $5,000 to $9,999.99 | 0.20% |
Better Savings Account Options:
You should definitely take a look at all the Savings Account options below before deciding.
