Capital One is again offering a nice bonus for new business checking accounts. It’s not as nice as last year’s bonus, but it’s still a good deal. The current bonus is $250, and it’s scheduled to last until 4/30/2014. If it’s like past promotions, Capital One will probably extend it. The promotion requires a branch visit (see below for branch locations).
Here’s the link to the promotion at CapitalOne.com, and here’s a summary of what’s required to earn the $250 bonus:
Salem Five Direct has recently increased the rate of its 2-year CD special (what it calls eCD) to a competitive level. It has a 1.25% APY with a minimum deposit of $10,000. Maximum deposit amount is $500,000, and only personal accounts are allowed. This new eCD rate is listed in the Salem Five Direct eCD page as of 4/23/2014.
Salem Five Direct continues to offer two other competitive eCDs. These are a 1.00% APY 1-year CD and a 2.00% APY 5-year CD. I reviewed them in 2013.
Salem Five Direct also...Continue Reading
Financial Center Federal Credit Union is offering a very competitive rate on its 7-year certificate. It has a 2.50% APY with a minimum deposit of $500. There is one downside. The CD has a harsh early withdrawal penalty of 730 days dividends. This rate, minimum deposit and early withdrawal penalty are listed in the credit union’s rates page as of 4/22/2014. It’s nice to see the early withdrawal penalty clearly disclosed in the rates page. That isn’t common for banks and credit unions.
The credit union’s field of membership expanded...Continue Reading
Flanagan State Bank has started to offer a high-interest reward checking account under the Kasasa brand. The account is called Kasasa Cash. Like many of the new reward checking accounts, its balance cap is disappointing. Nevertheless, it’s always nice to see a new reward checking account. The bank also offers a savings account, called Kasasa Saver, that links to this checking account. Below is an overview of these accounts. Flanagan State Bank currently doesn’t list these accounts on its website. However, they’re listed at this Kasasa.com page with the following...Continue Reading
Last week was another case of hopes dashed for savers thinking that interest rates might rise a little sooner than had been anticipated. Fed Chairwoman Janet Yellen strongly suggested in a speech last week that the Fed is prepared to keep rates low for a long time to support economic growth. It’s another sign of how slow the economy is recovering from the 2008 financial crisis. As described in this WSJ article:
That WSJ article mentioned a few possible explanations for this slow recovery, and the one which was most worrisome...Continue Reading
It was hard not to love The Bucket List. The movie was a reminder that life is short and today is the day to do what you've been dreaming about. A bucket list gives you carte blanche to live.
Why not do a financial bucket list? "The world of personal finance isn't typically a wellspring of motivation, but a bucket list can be," says Scott Halliwell, a financial planner for USAA. "Without one, you're likely to just fall into a routine and never really do anything extraordinary from a financial...Continue Reading
Treasury yields increased this week due to economic data that was better than expected. However, Fed Chairwoman Janet Yellen continues to suggest that interest rates will stay low for a long time. This was mentioned in a Wednesday speech, her second speech since she took over as Fed chair.
There weren’t many CD rate changes this week. EverBank 5-year CD yield fell by 4 basis points to 2.20%. Bank5 Connect’s 6-month CD rate fell by 5 basis points to 0.85%.
On the positive side, Nationwide Bank’s 4-year Jumbo CD yield increased by...Continue Reading
First Financial Bank continues to have very competitive rates on its reward checking and savings accounts, and these accounts are now available to more people than when I last reported on this account in April 2013. The reward checking is called Kasasa Cash, and the savings account is called Kasasa Saver. My first report on these accounts was in January 2013, and the rates have held steady since that time. At the time of my first report, the bank was accepting new customers from any state. That didn’t last long,...Continue Reading
The Labor Department released the March CPI-U numbers on Tuesday, and with these numbers, the next I Bond inflation component can be computed. Inflation as reported by the government continues to be on the low side. Thus, the next I Bond inflation component that will be announced in May won’t be anything to get excited about. Nevertheless, it will be high enough to make I Bonds a good deal as compared to 1-year CD rates. Based on September and March CPI-U numbers, the inflation component for the May I Bond...Continue Reading
I’m about to offer you the best opportunity in the history of investing. I promise you that it is going to be absolutely, completely, totally, can’t-miss awesome. I’m going to let you buy some of my Legos.
Before you rush to the phone or your email, let me tell you why. Early last year, Lego discontinued set number 9516, "Jabba’s Palace." The reason, allegedly, was that it contained racist undertones (and indeed, one Muslim group in Austria had complained that it depicted offensive stereotypes, but Lego said that had...Continue Reading
Third Federal Savings & Loan is offering a competitive CD special. It has a 1.50% APY with a 39-month term. There’s also a special 19-month CD with a 1.00% APY. Minimum deposit is $500. These special rates are listed in the bank’s CD page as of 4/16/2014. According to the bank's disclosure, the early withdrawal penalty for the 39-month CD is 12 months’ interest. That’s a harsh penalty.
Third Federal has a long history of offering competitive 6-year CDs. but the 6-year CD rate is currently only 1.75% APY which...Continue Reading
Ally Bank had another release of its Ally Mobile Banking app. If you have a smartphone, you can now do a lot of banking by using this app on your smartphone. I decided to download this latest version on my iPhone and give it a test. The app was easy to use. I don’t think it will be long before I log into my Ally account more with my iPhone than with my laptop. This will likely be the trend especially for the younger generation.
This latest release of the...Continue Reading