Banking Deal Summary for Aug 28th

I want to make sure this summary helps you to make the best choice for an online bank. This decision will likely involve more than just interest rates. So I've added more info for each item in the savings account section. First, I'm including a note if the bank offers a checking account. Second, I'm including a link to my previous post describing the bank and the latest bonus deal.

Some interest rate changes for this week include Corus Bank's increase of their 6 and 12 month CDs by 0.05% and 0.10%.

I've also added two additional banks to the list. UFB Direct is now offering a high yield money market savings with 3.70% APY, and there are no minimums. Second, I've added GMAC Bank. Their money market is only 3.45%, but they have several other nice features like a relatively low minimum of $500, checking accounts, and competitive CD rates.

The rates listed below are in APY. No minimum balances are required unless noted.

Savings Accounts:

• Presidential - 3.87% (min $5K, only first $35K receives this rate), offers checking, my post
• MyBankingDirect - 3.75% (min $5K), my post ($25 deal)
• UFB Direct - 3.70%, offers checking, my post ($25 deal)
• UmbrellaBank.com - 3.65% (min $1K), offers checking, my post
• Corus Bank - 3.52% (min $10K to open)
• HSBC - 3.50%, offers checking, my post ($50 deal)
• EmigrantDirect - 3.50%, my previous post
• GMAC Bank - 3.45% (min $500), offers checking
• ING Direct - 3.30%, my post ($25 deal)

6-Month CDs:

• Corus Bank - 4.09% (min of $10K)
• GMAC Bank - 4.00% (min $500)
• UmbrellaBank.com - 4.00% (min of $1K)

12-Month CDs:

• Corus Bank - 4.52% (min of $10K)
• GMAC Bank - 4.35% (min $500)
• UmbrellaBank.com - 4.38% (min $1K)
• ING Direct - 4.15%

16-Month CDs:

• Digital Credit Union - 5.00% (min $5K)

Credit Card Deal:

• Charles Schwab VISA Credit card - $100 VISA gift card when signing up. No annual fee.

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