Bank Deals Weekly Summary for January 27, 2007
Jan 27, 2007 - 5:45 PM by Ken Tumin
HSBC added some excitement this week with its new 6% savings account promo. New deposits at HSBC's Online Savings Account will earn 6% APY until April 30th. All other deposits will continue to earn the regular yield of 5.05% APY. It's very similiar to what ING Direct did last year with its Winter Save Up Sale. Perhaps we'll see other banks try to match this promo. It has been awhile since we've seen anything new at EmigrantDirect. We probably won't see any new savings account promo at ING since they'll be publicly launching their new Electric Orange Checking Account on February 1st (see post). For more info on this HSBC promo, please refer to my HSBC 6% post.
For those with a GMAC money market account, the HSBC deal may look extra nice. GMAC Bank dropped the rate again this week on its money market savings account. The yield is now 5.00% APY (down from 5.10%). However, GMAC's CD rates held steady. There were several banks that raised their CD rates this week. The CD rate hike seemed to be most common for 1-year terms. AmTrustDirect raised the 1-year CD rate to 5.41% APY. ETrade Bank and Netbank raised their 1-year CD rates to 5.40% APY.
Next week the Fed will meet again. Expectations are that they'll hold steady. Last year, most expected the Fed to start cutting rates by middle this year. Now some economists think the Fed may actually start hiking rates again. This MarketWatch article has a good discussion on future rates.
With future rates possibly heading up and with a 6% savings account promo, long-term CDs no longer look as appealing, although Penfed's 6.25% APY is hard not to like. This rate continues to be available for terms from 3 to 7 years. New rates will be posted on February 1st, and the rumor is that they'll drop to 6% APY. So time may be running out for this deal. Please refer to my 6.25% CD Penfed post for more info.
If Penfed's 6.25% CDs end next week, you'll still be able to get a 6.25% CD at Navy FCU (NFCU) which just started a 6.25% APY 7-year CD this week. Unlike Penfed, they don't offer this rate for any shorter terms. For those who prefer short term CDs, NFCU's CSRs have mentioned that NFCU is planning to launch a 6% APY 15-month CD promo starting February 5th. The only bad thing about NFCU is that not everyone can join. You must have some connection to the Navy. Please refer to my Navy FCU 6% CD post for more info.
For local CD deals, please refer to the local CD list. I've reviewed many of them and removed those no longer available. However, I can't go through all of them. Please check with the bank or credit union's website to confirm availability. If you find any that are out-of-date, a comment would be appreciated.
Thanks to all who have helped by leaving comments or sending emails on rate updates. Sorry I can't post on all of your suggestions.
The rates listed below are based on Annual Percentage Yield (APY). No minimum balances are required unless noted. MMA next to the rates indicate a money market account. Most MMAs have check writing and ATM cards. Online savings accounts usually lack both of these. The top lists include banks and credit unions with broad availability and with minimums around $10K or less. Previous weekly summaries are available for Jan 20th, Jan 13th, Jan 6th, Dec 30th, Dec 23rd (short version), Dec 16th, Dec 9th and Dec 2nd.
As of January 27, 2007
Savings Accounts/Money Market Accounts:
3-Month Certificates of Deposit:
6-Month Certificates of Deposit:
9-Month Certificates of Deposit:
12-Month Certificates of Deposit:
14/15-Month Certificates of Deposit:
18-Month Certificates of Deposit:
36-Month Certificate of Deposit:
48-Month Certificate of Deposit:
60-Month Certificate of Deposit:
84-Month Certificate of Deposit:
High Rates with Conditions / Large Balances - Open to All
Checking and Saving Accounts at Local Banks/Credit Unions
CD Specials at Local Credit Unions/Banks Over the Last Two Months
Terms of 60 Months and Over
Terms of 24 Months to Under 60 Months
Terms of 12 Months to Under 24 Months
Terms of Under 12 Months
Bank Account Alternatives
For those with a GMAC money market account, the HSBC deal may look extra nice. GMAC Bank dropped the rate again this week on its money market savings account. The yield is now 5.00% APY (down from 5.10%). However, GMAC's CD rates held steady. There were several banks that raised their CD rates this week. The CD rate hike seemed to be most common for 1-year terms. AmTrustDirect raised the 1-year CD rate to 5.41% APY. ETrade Bank and Netbank raised their 1-year CD rates to 5.40% APY.
Next week the Fed will meet again. Expectations are that they'll hold steady. Last year, most expected the Fed to start cutting rates by middle this year. Now some economists think the Fed may actually start hiking rates again. This MarketWatch article has a good discussion on future rates.
With future rates possibly heading up and with a 6% savings account promo, long-term CDs no longer look as appealing, although Penfed's 6.25% APY is hard not to like. This rate continues to be available for terms from 3 to 7 years. New rates will be posted on February 1st, and the rumor is that they'll drop to 6% APY. So time may be running out for this deal. Please refer to my 6.25% CD Penfed post for more info.
If Penfed's 6.25% CDs end next week, you'll still be able to get a 6.25% CD at Navy FCU (NFCU) which just started a 6.25% APY 7-year CD this week. Unlike Penfed, they don't offer this rate for any shorter terms. For those who prefer short term CDs, NFCU's CSRs have mentioned that NFCU is planning to launch a 6% APY 15-month CD promo starting February 5th. The only bad thing about NFCU is that not everyone can join. You must have some connection to the Navy. Please refer to my Navy FCU 6% CD post for more info.
For local CD deals, please refer to the local CD list. I've reviewed many of them and removed those no longer available. However, I can't go through all of them. Please check with the bank or credit union's website to confirm availability. If you find any that are out-of-date, a comment would be appreciated.
Thanks to all who have helped by leaving comments or sending emails on rate updates. Sorry I can't post on all of your suggestions.
The rates listed below are based on Annual Percentage Yield (APY). No minimum balances are required unless noted. MMA next to the rates indicate a money market account. Most MMAs have check writing and ATM cards. Online savings accounts usually lack both of these. The top lists include banks and credit unions with broad availability and with minimums around $10K or less. Previous weekly summaries are available for Jan 20th, Jan 13th, Jan 6th, Dec 30th, Dec 23rd (short version), Dec 16th, Dec 9th and Dec 2nd.
As of January 27, 2007
Savings Accounts/Money Market Accounts:
- Superior Savings - 5.50% MMA ($10K min), my post
- Geauga Savings Bank - 5.45% ($25K min), see post
- BankUnited - 5.35% (min $5K), my post
- UFB Direct - 5.31%, my post
- iGobanking - 5.30%, my post
- Zions Bank - 5.30% MMA (min $1K) (5.34% $50K+), my post
- AmTrustDirect - 5.30% ($1K min), my post
- OneUnited - 5.30% (min $1K), my post
- Apple Bank - 5.27%, my post ($25 bonus)
- WTDirect - 5.26% ($10K min), my post
- E-LOAN - 5.25% ($5K min), my post
- AmboyDirect - 5.25% (5.35% for $20K+), my post ($25 bonus)
- Presidential Bank - 5.25% (min $5K, only first $35K receives this rate), offers 4.50% checking, my post
- Countrywide - 5.25% (min $10K), (5.40% $50K+) my post
- CapitalOne/Costco - 5.20% MMA (min $5K, Costco members only, $25 deal for exec. members)
- FirstFedDirect - 5.16% (min $1K) (closed to CA residents), my post
- Discover Bank - 5.14% MMA (min $10K)
- Corus Bank - 5.12% MMA (min $10K to open)
- MyBankingDirect - 5.10% MMA (min $5K), my post
- Mutual Bank - 5.10% MMA (min $5K), my post
- Tennessee Commerce Bank - 5.07% (min $10K), my post
- EmigrantDirect - 5.05%, my post, (rate history)
- HSBC Direct - 5.05%, (6% new money promo) offers checking, my post
- ETrade Bank - 5.05%, my post
- Citibank - 5.00%, requires checking account, my post
- Washington Mutual - 5.00% (requires checking), my post
- ebank - 5.00% Checking ($2.5K min), my post
- CapitalOne - 5.00% (MMA has same rate, but with checks and ATM. $100 min.), my post
- GMAC Bank - 5.00% MMA (min $500), my post
- UmbrellaBank.com - 5.00% MMA (min $1K) (5.15% $50K+), offers checking, my post
- Self-Help Credit Union - 4.68% MMA (min $500), my post
- VirtualBank - 4.60% (min $100), (4.86% $50K+/ 5.13% $100K+) offers checking, my post ($20 bonus)
- ING Direct - 4.50%, my post ($25 bonus), (rate history)
- GE Money - 4.50% (min $4K), (5.05% for $15K+), my post ($25 bonus)
- EverBank - 4.41% ($1.5K min), 6.01% 3-mo promo, my post
- MetLife Bank - 4.40% MMA (min $5K), my post ($50 bonus)
- Imperial Capital - 4.20% MMA ($2.5K min), offers free checking, my post
- NetBank - 3.75% MMA ($500 min), requires checking, my post ($250 deal)
3-Month Certificates of Deposit:
- EverBank - 6.01% ($1.5K min), checking account promo, see post
- VirtualBank - 5.50% (min $10K), my post
- Imperial Capital - 5.45%, ($2K min), my post
- IndyMac Bank - 5.35% (min $5K), my post
- UFB Direct - 5.30% (min $8K)
- Countrywide - 5.30% (min $10K), my post
- FirstFedDirect - 5.26% (min $10K), my post
- GMAC Bank - 5.15% (min $500), my post
- Corus Bank - 5.12% (min $10K)
- Charles Schwab - 5.09% (min $1K), my post
- ebank - 5.00% (min $1K), 5.25% for ePremium checking customers
- ETrade Bank - 5.00% (min $1K), my post
- UmbrellaBank.com - 5.00% (min $1K)
- Self-Help Credit Union - 4.98% (min $500), my post
6-Month Certificates of Deposit:
- Superior Savings - 5.60% (min $500)
- Imperial Capital - 5.50%, ($2K min), my post
- FirstFedDirect - 5.46% (min $10K), my post
- IndyMac Bank - 5.45% (min $5K), my post
- VirtualBank - 5.44% (min $10K), my post
- AmTrustDirect - 5.36% (min $1K) my post
- NetBank - 5.35% (min $1K)
- Corus Bank - 5.35% (min $10K)
- World Savings - 5.35% (7 months) (min $10K), branch-only, my post
- iGobanking - 5.30% (min $500), my post
- Countrywide - 5.30% (min $10K), my post
- UFB Direct - 5.30% (min $8K)
- Self-Help Credit Union - 5.28% (min $500), my post
- HSBC Direct - 5.25% (min $1K), new money only
- ETrade Bank - 5.25% (min $1K), my post
- Tennessee Commerce Bank - 5.20% (min $5K)
- EmigrantDirect - 5.20% (min $1K)
- GMAC Bank - 5.15% (min $500), my post
- EverBank - 5.15% ($1.5K min)
- E-LOAN - 5.15% ($10K min), my post
- ebank - 5.15% (min $1K), 5.40% for ePremium checking customers
- UmbrellaBank.com - 5.10% (min $1K)
- ING Direct - 5.00%, my post
- Wells Fargo - 4.80% (5 months) (min $5K), rate and min vary by state, my post
9-Month Certificates of Deposit:
- World Savings - 5.45% (10 months) (min $10K), my post
- FirstFedDirect - 5.41% (min $10K), my post
- Countrywide - 5.40% (min $10K), my post
- AmTrustDirect - 5.37% (min $1K) my post
- Imperial Capital - 5.32% ($2K min), my post
- NASA FCU - 5.25% (8 months) (min $5K), my post
- GMAC Bank - 5.25% (min $500), my post
- IndyMac Bank - 5.20% (min $5K), my post
- EmigrantDirect - 5.20% (min $1K)
- VirtualBank - 5.18% (min $10K), my post
- EverBank - 5.15% ($1.5K min)
- UmbrellaBank.com - 5.15% (min $1K)
- ING Direct - 5.05%, my post
12-Month Certificates of Deposit:
- Patelco Credit Union - 5.64% ($1K min), not NCUA insured, my post
- AmboyDirect - 5.50% (min $10K), my post
- AmTrustDirect - 5.41% (min $1K) my post
- ETrade Bank - 5.40% (min $1K), my post
- NetBank - 5.40% (min $1K), my post ($100 bonus)
- FirstFedDirect - 5.35%, (min $10K) my post
- IndyMac Bank - 5.35% (min $5K), my post
- Tennessee Commerce Bank - 5.33% (min $5K)
- Imperial Capital - 5.33% ($2K min), my post
- Self-Help Credit Union - 5.31% (min $500), my post
- EverBank - 5.30% ($1.5K min)
- UFB Direct - 5.30% (min $8K)
- Corus Bank - 5.30% (min $10K)
- iGobanking - 5.30% (min $500), my post
- Melrose CU - 5.30% (min $5K) my post
- La Jolla Bank - 5.30% (min $10K), my post
- GMAC Bank - 5.30% (min $500), my post
- Transportation Alliance Bank - 5.27% ($1K min)
- Mutual Bank - 5.25% (min $2.5K) my post
- ebank - 5.25% (min $1K), 5.50% for ePremium checking customers
- EmigrantDirect - 5.20% (min $1K)
- Countrywide - 5.20% (min $10K)
- UmbrellaBank.com - 5.20% (min $1K)
- VirtualBank - 5.15% (min $10K), my post
- E-LOAN - 5.15% ($10K min), my post
- ING Direct - 5.10%, my post
- Washington Mutual - 5.10% (min $1K), rates vary by state
- GTE FCU - 4.96% (min $500) (add-on feature) my post
14/15-Month Certificates of Deposit:
- Patelco Credit Union - 5.64% ($1K min), not NCUA insured, my post
- Kinecta FCU - 5.55% (15 months) (min $1K), my post
- NASA FCU - 5.35% (14 months) (min $1K), my post
18-Month Certificates of Deposit:
- Patelco Credit Union - 5.64% ($1K min), not NCUA insured, my post
- NetBank - 5.40% (min $1K), my post ($100 bonus)
- iGobanking - 5.30% (min $500), my post
- GMAC Bank - 5.25% (min $500)
- EmigrantDirect - 5.20% (min $1K)
- Countrywide - 5.20% (min $10K)
- ebank - 5.15% (min $1K), 5.40% for ePremium checking customers
- AmTrustDirect - 5.15% (min $1K) my post
- E-LOAN - 5.05% ($10K min), my post
- ETrade Bank - 5.00% (min $1K), my post
- Imperial Capital - 5.00% ($2K min), my post
- Mutual Bank - 4.85% (min $5K) my post
- UmbrellaBank.com - 4.75% (min $1K)
36-Month Certificate of Deposit:
- Pentagon Federal CU - 6.25% (min $1K), my post
- NetBank - 5.35% (min $1K), my post ($100 bonus)
- First State Bank - 5.35% ($1K min), my post
- Mutual Bank - 5.30% (min $5K) my post
- Agriculture FCU - 5.25% (min $1K), my post
- EmigrantDirect - 5.20% (min $1K)
- Melrose CU - 5.20% (min $5K) my post
- Self-Help Credit Union - 5.16% (min $500), my post
- Transportation Alliance Bank - 5.15% ($1K min)
- GMAC Bank - 5.15% (min $500)
- Fort Belvoir FCU - 5.13% (min $1K), my post
- ebank - 5.10% (min $1K), 5.35% for ePremium checking customers
- AmTrustDirect - 5.00% (min $1K) my post
- E-LOAN - 5.00% ($10K min), my post
- ETrade Bank - 5.00% (min $1K), my post
- Countrywide - 5.00% (min $10K)
- Washington Mutual - 4.95% (min $1K), rates vary by state
- Imperial Capital - 4.95% ($2K min), my post
- UmbrellaBank.com - 4.75% (min $1K)
48-Month Certificate of Deposit:
- Pentagon Federal CU - 6.25% (min $1K), my post
- NetBank - 5.35% (min $1K), my post ($100 bonus)
- First State Bank - 5.35% ($1K min), my post
- USA FCU - 5.33% (min $1K) my post
- Agriculture FCU - 5.25% (min $1K), my post
- Melrose CU - 5.25% (min $5K) my post
- Fort Belvoir FCU - 5.23% (min $1K), my post
- EmigrantDirect - 5.20% (min $1K)
- Self-Help Credit Union - 5.15% (min $500), my post
- Transportation Alliance Bank - 5.15% ($1K min)
- GMAC Bank - 5.15% (min $500)
- ebank - 5.10% (min $1K), 5.35% for ePremium checking customers
- E-LOAN - 5.00% ($10K min), my post
- Countrywide - 5.00% (min $10K)
- UmbrellaBank.com - 4.75% (min $1K)
60-Month Certificate of Deposit:
- Pentagon Federal CU - 6.25% (min $1K), my post
- Navy FCU - 5.70% ($20K min) restrictions to membership, my post
- Agriculture FCU - 5.50% (min $1K), my post
- Fort Belvoir FCU - 5.39% (min $1K), my post
- USA FCU - 5.38% (min $1K) my post
- NetBank - 5.35% (min $1K), my post ($100 bonus)
- First State Bank - 5.35% ($1K min), my post
- Presidential Bank - 5.35% (min $1K)
- Melrose CU - 5.30% (min $5K) my post
- EmigrantDirect - 5.20% (min $1K)
- Self-Help Credit Union - 5.17% (min $500), my post
- Transportation Alliance Bank - 5.15% ($1K min)
- VirtualBank - 5.15% (min $10K), my post
- GMAC Bank - 5.15% (min $500)
- Members Credit Union - 5.13% (min $2K), my post
- AmTrustDirect - 5.10% (min $1K) my post
- Washington Mutual - 5.10% (min $1K), rates vary by state
- ETrade Bank - 5.05% (min $1K), my post
- ebank - 5.00% (min $1K), 5.35% for ePremium checking customers
- E-LOAN - 5.00% ($10K min), my post
- Countrywide - 5.00% (min $10K)
- Imperial Capital - 4.95% ($2K min), my post
- UmbrellaBank.com - 4.75% (min $1K)
84-Month Certificate of Deposit:
- Navy FCU - 6.25% ($20K min) restrictions to membership, my post
- Pentagon Federal CU - 6.25% (min $1K), my post
- EmigrantDirect - 5.20% (min $1K)
- Countrywide - 5.00% (min $10K)
High Rates with Conditions / Large Balances - Open to All
- 10% Affinity Savings Account for kids ($500 max)
- 6.01% Everbank 3-month intro rate on checking account
- 6.00% HSBC Savings Account New Money Promo
- 6.00% Dime 3-month intro rate on Money Market account
- 5.60% Money Market Account with $250K initial deposit
- 5.40% Personal and Business Money Market Account with $100K balance
- 5.36% Money Market Account at Bank of America with $50K+
Checking and Saving Accounts at Local Banks/Credit Unions
- $250 Checking Account Bonus at South Carolina Federal
- $7.50% Checking/Savings Account up to $500 (Washington State)
- 6.01% Checking Account up to $25K (Little Rock)
- 6.01% Checking Account up to $25k (Arkansas)
- 6.00% Money Market Account Intro Rate in New Jersey
- 5.61% Checking Account up to $25K (AL/TN/MS)
- 5.35% No-Minimum Online Savings Account (New York)
- 5.25% Money Market Account for 3 months (New York)
- 5.25% Checking Account (Florida)
- 5.25% Money Market Account (Utah)
- 5.05% Low-Minimum Online Savings Account (California)
- 5.01% Checking Account (Wisconsin/Illinois)
- 5.00% Checking Account at an Oklahoma Bank (Legacy)
- 4.75% Checking Account (Texas)
CD Specials at Local Credit Unions/Banks Over the Last Two Months
Terms of 60 Months and Over
- 6.37% 60-Month CD at a Maryland CU (MCT)
- 6.22% 60-Month CD at a California CU (TFCU)
- 6.06% 60-Month CD at a Tennessee CU (MPD Community)
- 6.00% 72-Month CD at a Ohio CU (ProMedica)
- 6.00% 60-Month CD at a Utah CU (Family First)
- 6.00% 80-Month CD at a Ohio CU (Sharefax)
- 5.90% 60-Month CD at a Nevada CU - $75K (Clark County)
- 5.90% 72-Month CD at a Missouri Bank (Garden City)
- 5.88% 60-Month CD at a Virginia Bank (Farmers)
- 5.86% 60-Month CD at a Virginia CU (Richmod Postal)
- 5.83% 60-Month CD at a Florida Bank (Surety)
- 5.81% 60-Month CD at a Utah CU (Deseret First)
- 5.80% 60-Month CD at a Arizona CU - IRA (Credit Union West)
- 5.75% 60-Month CD at a California Bank (Spectrum)
- 5.75% 60-Month CD at a Georgia Bank (Peachtree)
- 5.70% 84-Month CD at a Missouri CU (Neighbors)
- 5.65% 60-Month CD at a Georgia Bank (Alpha)
- 5.65% 60-Month CD at a Colorado CU (Gateway)
- 5.60% 60-Month CD at a Florida CU (Suncoast Schools)
Terms of 24 Months to Under 60 Months
- 6.98% 36-Month CD at a California Bank - Variable IRA (Alliance Bank)
- 6.43% 36-Month CD at a Alabama CU (Energon)
- 6.18% 36-Month CD at a Arizona CU - $50K (Arizona Holsum)
- 6.15% 24-Month CD at a Florida CU (South Florida)
- 6.11% 30-Month CD at a California CU (TFCU)
- 6.00% 24-Month CD at a New York CU - $50K Min (Palisades)
- 6.00% 30-Month CD at a Florida CU - $100K (Tropical Financial)
- 6.00% 24-Month CD at a Colorado CU (Colorado Springs)
- 5.80% 24-Month CD at a New York CU (Countryside Community)
- 5.80% 24-Month CD at a Massachusetts CU (Central One FCU)
- 5.80% 41-Month CD at a New Jersey CU (Tri-Co)
- 5.75% 30-Month CD at a Ohio CU (CINCO)
- 5.75% 24-Month CD at a Virginia CU (Bronco)
- 5.72% 24-Month CD at a Virginia CU - $50K (DuPont Fibers)
- 5.64% 24-Month CD at a Ohio CU (Sharefax)
- 5.64% 35-Month CD at a Virginia CU (Baylands)
- 5.55% 27-Month CD at a New Jersey CU (Tri-Co)
- 5.50% 36-Month CD at a St. Louis CU (Gateway Metro)
Terms of 12 Months to Under 24 Months
- 10.00% 12-Month CD at a New York CU - $2K Max (Palisades)
- 6.35% 15-Month CD at a California CU (Alisos)
- 6.05% 13-Month CD at a Florida CU (South Florida)
- 6.00% 13-Month CD at a Texas CU (Air Force)
- 6.00% 12-Month CD at a New Jersey CU (Rutgers)
- 6.00% 12-Month CD at a Colorado Bank - IRA (Eastern Colorado)
- 6.00% 17-Month CD at a Massachusetts CU - IRA (M/A-Com)
- 6.00% 18-Month CD at a Minnesota Bank - IRA (Park State)
- 6.00% 12-Month CD at a California CU Continues (Ventura County)
- 6.00% 12-Month CD at a North Carolina CU (Carolina Postal)
- 5.90% 12-Month CD at a Utah CU - and Other High Rates (Pacific Rails)
- 5.87% 16-Month CD at a Maryland CU (MCT)
- 5.86% 12-Month CD at a Washington State CU - Variable (Cascade Forest Products)
- 5.81% 12-Month CD at a Ohio CU - $100K+ (CSE)
- 5.80% 12-Month CD at a Massachusetts CU (Central One FCU)
- 5.80% 18-Month CD at a Colorado CU (Colorado Springs)
- 5.77% 19-Month CD at a Virginai CU (Newport)
- 5.75% 12-Month CD at a Georgia Bank (Alpha)
- 5.75% 13-Month CD at a Michigan CU (Hometown Community)
- 5.75% 20-Month CD at a Illinois CU - Open To All (Consumers)
- 5.75% 15-Month CD at a Georgia Bank (First Georgia Community)
- 5.75% 13-Month CD at a California CU - $90K (LBS Financial)
- 5.75% 14-Month CD at a Alabama CU (Tuscaloosa)
- 5.75% 18-Month CD at a Missouri CU (Postal and Community)
- 5.75% 12-Month CD at a Georgia Bank (Integrity)
- 5.75% 12-Month CD at a Virginia CU (Bronco)
- 5.75% 12-Month CD at a Houston CU Continues - (Right Choice)
- 5.75% 12-Month CD at a California/Nevada CU (1st United Services)
- 5.74% 18-Month CD at a Missouri Bank (Eagle)
- 5.72% 12-Month CD at a Wisconsin CU - and a $50 Checking Bonus (Royal)
- 5.70% 23-Month CD at a California Bank - IRA (Mid-State)
- 5.70% 12-Month CD at a California Bank - IRA (Mid-State)
- 5.70% 22-Month CD at a Pennsylvania CU (Tri County Area)
- 5.70% 18-Month CD at a Utah CU (Cyprus)
- 5.70% 15-Month CD at a Missouri CU (Kilowatt)
- 5.70% 12-Month CD at a Minnesota CU (SMW)
- 5.65% 15-Month CD at a Ohio Bank (The Grange Bank)
- 5.65% 12-Month CD at a Georgia Bank (Peachtree)
- 5.60% 12-Month CD at a Florida CU (Suncoast Schools)
- 5.60% 12-Month CD at a Florida Bank (Sunshine State Community)
- 5.60% 15-Month CD at a Utah CU (Mountain America)
- 5.60% 12-Month CD at a Utah CU (Deseret First)
- 5.56% 13-Month CD at a South Carolina Bank (Bank of Anderson)
- 5.55% 13-Month CD at a Utah Credit Union (Tooele)
- 5.55% 15-Month CD at a California CU - Open To All (Kinecta)
- 5.51% 13-Month CD at a South Dakota CU (Sentinel)
- 5.50% 13-Month CD at a Washington State CU (GHCU)
- 5.50% 12-Month CD at a Texas Bank (Century)
- 5.50% 12-Month CD at a Massachusetts Bank (Needham Cooperative)
- 5.50% 16-Month CD at a New York CU (Bethpage)
- 5.50% 15-Month CD at a Missouri CU (Neighbors)
- 5.50% 12-Month CD at a Maryland/Virginia/DC Bank (Washington First)
- 5.39% 15-Month CD at a Philadelphia Bank (Asian Bank)
Terms of Under 12 Months
- 10.00% 6-Month CD at a Indiana/Michigan/Georgia Bank Continues - $2.5K Max (Flagstar)
- 7.00% 6-Month CD at a CA Credit Union - $5K Max (Pacific Service)
- 6.70% 4-Month CD at a California CU - IRA (Los Angeles Firemen's)
- 6.19% 6-Month CD at a California CU (LA FCU)
- 6.15% 7-Month CD at a Kentucky CU Continues (Fort Knox)
- 6.14% 6-Month CD at a Multi-State CU (USPS FCU)
- 6.00% 6-Month CD at a Missouri CU (American Eagle)
- 6.00% 7-Month CD at a Colorado CU (Gateway)
- 6.00% 6-Month CD at a Georgia Bank (Midtown)
- 6.00% 6-Month CD at a New York CU (Hudson Valley)
- 6.00% 6-Month CD at a Ohio CU (STECU)
- 6.00% 8-Month CD at a California CU (San Mateo)
- 6.00% 10-Month CD at a Michigan CU (Lake Michigan)
- 6.00% 4-Month CD at a Michigan CU - Update (Huron River Area)
- 6.00% 3-Month CD at a Virginia CU (Arlington Virginia)
- 5.92% 11-Month CD at a New York / Pennsylvania CU (Visions)
- 5.92% 6-Month CD at a New York / Pennsylvania CU (Visions)
- 5.88% 11-Month CD at a Illinois CU (Jeff-Co Schools)
- 5.75% 6-Month CD at a Georgia Bank (Alpha)
- 5.75% 3-Month CD at a FL/TX/NY Bank (Commercebank)
- 5.75% 7-Month CD at a Florida CU (Eastern Financial)
- 5.75% 6-Month CD at a California CU (Metro 1)
- 5.75% 7-Month CD at a California CU (OCTFCU)
- 5.75% 11-Month CD at a Michigan CU (Omni Community)
- 5.75% 6-Month CD at a Illinois Bank (Town Center Bank)
- 5.75% 6-Month CD at a Georgia Bank (Integrity)
- 5.75% 3-Month CD at a California CU (San Jose)
- 5.75% 6-Month CD at a California CU (San Jose)
- 5.70% 7-Month CD at a Iowa Bank (American Bank)
- 5.65% 5-Month CD at a California CU (Chevron Valley)
- 5.65% 9-Month CD at a Arizona CU (Arizona Federal)
- 5.65% 11-Month CD at a Missouri CU (River Region)
- 5.60% 7-Month CD at a Illinois Bank (Prairie Bank and Trust Co.)
- 5.60% 7-Month CD at a Texas Bank (Equity)
- 5.60% 11-Month CD at a Maryland CU (Point Breeze)
- 5.60% 6-Month CD at a Texas CU (San Antonio)
- 5.58% 4-Month CD at a Arizona CU (Vantage West)
- 5.58% 3-Month CD at a Arizona CU (Vantage West)
- 5.57% 9-Month CD at a Arizona CU (Altier)
- 5.55% 8-Month CD at a California CU - IRA (San Diego County)
- 5.55% 11-Month CD at a California CU (LA Financial)
- 5.50% 7-Month CD at a Washington State CU (GHCU)
- 5.50% 9-Month CD at a California Bank (Gilmore)
- 5.50% 11-Month CD at a Florida Bank (Platinum)
- 5.50% 6-Month CD at a California/Nevada CU (1st United Services)
- 5.50% 9-Month CD at a Florida CU (Achieva)
- 5.40% 9-Month CD at a Chicago Bank (Builders)
- 5.35% 11-Month CD at a Chicago Bank (Park National)
- 5.35% 8-Month CD at a New York CU (Bethpage)
Bank Account Alternatives
- Money Magazine article on risk-free investments
- Vanguard Prime Money Market Fund - 5.10% 7-day yield
- Fidelity Money Market Fund - 5.03% 7-day yield ($100 bonus and other info)
- Paypal Money Market Fund - 5.02% 7-day yield (1% cashback debit MasterCard)
- FW Thread on Treasury Bills
- I Bond Rate Starting Nov 2006, I Bond Article, I Bonds as CD Alternatives
- SmartMoney Brokerage Survey
Featured Accounts
Useful Resources
Nationwide Savings Accounts
Anonymous - #1, Sunday, January 28, 2007 - 2:33 AM
I feel like I already know the answer to my question, but I gotta ask anyway: is it really worthwhile to "shop around" for the best rates? My thing is, after you shop around, sign up for an account and get approved, set up external accounts for transfer, etc.. the difference between 5.30% and 5.00%, for example, doesn't seem all that lucrative anymore. I was just wondering what you think about this.
I've kept my savings account at ING despite their seemingly-low rate because they transfer money to my checking account a lot faster than Etrade, which has a higher rate, does. I figure that's a more important feature to have.
SVG (anonymous) - #2, Sunday, January 28, 2007 - 9:19 AM
Banking Guy,
>>For those with a GMAC money market account, the HSBC deal may look extra nice.<<
Indeed. GMAC once was such a nice account. All the facilities they offer are outstanding. However what matters the most to me is the interest and GMAC has not kept up.
Looks like E-Loan also has started lagging behind.
- SVG
SVG (anonymous) - #3, Sunday, January 28, 2007 - 9:31 AM
Anonymous,
>>I feel like I already know the answer to my question, but I gotta ask anyway: is it really worthwhile to "shop around" for the best rates? <<
One size does not fit all. :-)
There is no single right answer for the question you're asking. If someone has a CD/cerfificate maturing soon then perhaps taking advantage of this offer makes sense till s/he waits for next good deal to come along.
OTOH if someone has no time/inclination to 'shop around', then s/he can lock-in 6.25% for 7 years with Penfed !
For lot of others who have time/inclination (e.g. the type of folks who read this blog) splitting monies here-n-there and chasing the 'best' deal given their specific situation/goal/time-frame may work-out.
- SVG
Banking Guy (anonymous) - #4, Sunday, January 28, 2007 - 5:19 PM
Anonymous, the reply from SVG pretty much sums it up: One size does not fit all (Thanks SVG)
For some people, it may not make sense to switch every month. But switching to a better savings account once a year may be reasonable for many. The history of posts that I keep can help you see which one has remained competitive.
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