5.15% Savings, 5.60% 7-Month CD at Indymac Bank
Jul 6, 2006 - 6:49 PM by Ken Tumin
Indymac Bank is offering 5.15% APY on its E-Money Market account for balances over $25K. Balances between $1K and $25K earn 4.35% APY. Under $1K, no interest is paid and there is a $7 monthly fee. Check writing and Visa Check Chard are not available, but ATM access is available.
Indymac Bank also has a good deal on certificates of deposit. The best deals are a 5.60% APY 7-month CD, a 5.25% APY 3-month CD and a 5.65% APY 12-month CD. There is a $5K minimum. Application can be done online or by mail. The early withdrawal penalty for CDs with terms under one year is one month of interest. For terms of one year to under 2 years, the penalty is 3 months of interest.
Indymac Bank also has a good deal on certificates of deposit. The best deals are a 5.60% APY 7-month CD, a 5.25% APY 3-month CD and a 5.65% APY 12-month CD. There is a $5K minimum. Application can be done online or by mail. The early withdrawal penalty for CDs with terms under one year is one month of interest. For terms of one year to under 2 years, the penalty is 3 months of interest.
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Mr.Frugality (anonymous) - #1, Thursday, July 6, 2006 - 7:47 PM
Should be noted that this may (or may not) be a promotional rate as there is a termination date as indicated:
"· Rates guaranteed until 8/31/06.
· New money only."
Also, money already in Indymac would not qualify.
Banking Guy (anonymous) - #2, Friday, July 7, 2006 - 8:31 AM
Good points.
Wonder if customers could transfer money out and back in to qualify for the new money requirement.
As we learned from HSBC, a rate guarantee date often follows with a rate decrease after the date.
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