Apple Bank for Savings is offering a checking account promotion with a $100 bonus. Direct deposit is required, but on the plus side, a free checking account will qualify for the bonus. The bank’s free checking account is called ExtraValue Checking. It requires a $100 initial deposit, but there are no minimum balance requirements or monthly service fees. The first order of checks is free. The bank’s interest checking account, Grand Yield NOW Checking, also qualifies. This has a decent interest rate (relative to brick-and-mortar banks) of 0.50% as of...Continue Reading
Seacoast Commerce Bank is again offering a CD and money market promotion. They are part of a celebration of the bank’s new branch, but I was told these promotions are available nationwide. Both require a substantial minimum deposit. The CD has a 10-month term and a 1.10% APY. Minimum deposit is $50,000. The second deal is a money market account with a 1.00% APY for balances over $50,000. According to the account disclosure, this 1.00% APY is guaranteed to last until September 30, 2014. The rates for smaller balances are...Continue Reading
Two years ago I reported on the Pew Charitable Trusts' short and concise disclosures for checking accounts. Pew's press release did a good job at explaining why this simplified checking account disclosure was needed:
Ally Bank jumped on the bandwagon today by introducing its Straight Talk Product Guides. Ally’s press release explains about these guides:
Unfortunately, they are still working on the CD and IRA guides. According to Ally’s press release:
As I mentioned in my 2011 post, savers need a simple and standard disclosure for CDs. We don’t want to see anymore...Continue Reading
Last week’s better-than-expected economic data raised expectations that the Fed will soon begin tapering its bond buying program. However, according to this New York Times article:
Even when the Fed finally decides to begin tapering, the Fed will still be committed to the zero interest rate policy (ZIRP). The unemployment rate needs to keep falling and the inflation rate needs to rise before the Fed will even consider ending ZIRP, and based on Janet Yellen’s history, she won’t be in a hurry to end ZIRP when she takes over as the...Continue Reading
Retirement is a time of reflection. It can also be a time of regret. Once you are retired, the reality sets in, and some decisions may prove to be ill-advised. The best thing about regret is that you can take your knocks, learn from the miscalculation and move on.
Here's how to avoid retirement regrets.
"The most common regret we hear from retirees is that they didn't save enough to maintain their lifestyle in retirement," says Charles Weinrich, private financial advisor with SunTrust Investment Services.
If retirees...Continue Reading
Treasury yields increased this week as better-than-expected economic data raised expectations that the Fed will soon begin tapering its bond buying program. However, the data wasn’t good enough to make it clear about what the Fed will do at its next meeting on December 17th and 18th.
The 10-year Treasury yield is now 2.88%, but thanks to PenFed, savers can get an even better yield with only a 5-year term. The November rumors turned out to be true. PenFed came out with exceptional CD deals for December. The most noteworthy deal...Continue Reading
AloStar Bank of Commerce just raised the rates on its 1-year, 18-month and 2-year CDs. The 1-year CD rate increased 10 bps to 1.10% APY, the 18-month CD rate increased 5 bps to 1.15% APY, and the 2-year CD rate increased 5 bps to 1.25% APY. The 1-year and 18-month CD rates are now on top for nationally available CD rates. These rates are listed in the bank's CD rates page as of 12/06/2013.
Minimum deposit is $1,000. Unfortunately, lower rates are listed for IRA CDs. More CD details are listed...Continue Reading
RepublicBankAz, N.A. recently introduced reward checking and savings accounts under the Kasasa brand. The rates are a little low compared to some nationally available accounts, but they’re competitive, especially when compared to accounts from Arizona banks and credit unions. Below is a summary of the rates and features of these two accounts based on the bank’s Kasasa Cash and Kasasa Saver pages as of 12/6/2013:
Kasasa Cash rates and ATM fee refunds if certain monthly requirements are met:
We’re celebrating a milestone today. This is the 10,000th blog post since I started the Bank Deals Blog in August 2005.
Thanks so much to all of you who have been regular readers and commenters throughout the years.
I started the Bank Deals Blog over eight years ago in August 2005. As a fellow saver, I was always on the lookout for bank deals. In 2005 I decided to start this blog to help others find those deals and to encourage collaboration among savers to help each other find...Continue Reading
PenFed isn’t the only credit union offering 3% CDs. Another credit union came out with a December CD special with some even higher rates. It’s Credit Union West, and it’s offering 5-year CDs and IRA CDs with rates around 3%. The best deal is the 5-year Jumbo IRA CD which has a 3.20% APY. Minimum deposit is $50,000. For a $10,000 minimum, the APY is 3.15%. The regular CD rates are a little lower, but they’re still very competitive. For a $50,000 minimum, the APY is 2.95%, and for...Continue Reading
Pinnacle Bank is again offering a $100 bonus for opening its PinnCheck Free checking account online. If you missed the one in March, this is another chance. Like the previous promotions, the bonus doesn’t require much work. The only requirements listed in the bank's promotions page are:
The offer is currently scheduled to expire on December 31, 2013. According to...Continue Reading
Barclays has recently added a new online savings account that it calls the Dream Account. It’s intended to encourage people to save money. Long-time savers with large savings probably won’t find much benefit with the account. That’s due to a maximum monthly deposit of only $1,000.
The Dream Account currently has a 0.95% APY as of 12/2/2013. Barclays also offers an interest bonus. Every time you make consecutive deposits for six months, Barclays will give you a 2.5% bonus on the total interest you earned over that time. In addition, make...Continue Reading