Bank Deals Weekly Summary for February 24, 2007
Feb 25, 2007 - 4:09 PM by Ken Tumin
This was a slow week for bank deals. I thought we may see an online bank come out with a deal to counter HSBC Direct's 6% new money promo (see post). Except for some sign-up bonuses at ETrade Bank (see post) and Citibank (see post), no other online bank is coming close. For those who just want the best rate for the long term, you may be better off with a bank like AmTrustdirect or AmboyDirect.
One rate change this week was at ING Direct. They increased the low-tier rate on its new Electric Orange Checking Account from 3% to 4% APY (see post). ING Direct still hasn't publicly launched this new account so only certain existing savings account customers are eligible.
There were a few more banks that lowered CD rates than raised them this week. Small CD rate drops occurred at UFB Direct, Everbank and IndyMac Bank. GMAC Bank had a slight increase on its long-term CD rates.
I removed Huron River Area Credit Union from my national-availability list. Last week the management of the credit union was taken over by the NCUA (see post). Apparently, regulators saw problems with the credit union. One change that the NCUA management did this week was to remove the easy membership rules. But besides that, Huron is continuing as it did before. The 6% 12-month CD special is still being advertised for those who can qualify and are willing to put their trust back into Huron. This episode illustrates the importance of NCUA coverage. NCUA does more than just insure deposits when credit unions fail, but also has procedures to prevent credit unions from failng. I also reported on a bank failure that occurred early this month (see post). In this case the FDIC actually liquidated the bank. These incidents highlight the need to remain within the federal insured limits.
I added a few new categories to my lists. I now have the ability to add labels to my posts. This allows me to categorize posts. All of my posts that cover checking or savings account bonuses are now labeled "bonuses". You can see all of these by clicking on the link below. I also label all local deals by state, so now you can view all of the deals that are available by state. These links are in the local CD deal section. Note, I've just started labeling so not all states or previous deals are included.
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 Feb 17th, Feb 10th, Feb 3rd, Jan 27th, Jan 20th, Jan 13th, Jan 6th and Dec 30th.
As of February 24, 2007
Checking/Savings/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:
24-Month Certificate 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
[Edited 2/25/07: Removed inaccurate info on the bank that was liquidated.]
One rate change this week was at ING Direct. They increased the low-tier rate on its new Electric Orange Checking Account from 3% to 4% APY (see post). ING Direct still hasn't publicly launched this new account so only certain existing savings account customers are eligible.
There were a few more banks that lowered CD rates than raised them this week. Small CD rate drops occurred at UFB Direct, Everbank and IndyMac Bank. GMAC Bank had a slight increase on its long-term CD rates.
I removed Huron River Area Credit Union from my national-availability list. Last week the management of the credit union was taken over by the NCUA (see post). Apparently, regulators saw problems with the credit union. One change that the NCUA management did this week was to remove the easy membership rules. But besides that, Huron is continuing as it did before. The 6% 12-month CD special is still being advertised for those who can qualify and are willing to put their trust back into Huron. This episode illustrates the importance of NCUA coverage. NCUA does more than just insure deposits when credit unions fail, but also has procedures to prevent credit unions from failng. I also reported on a bank failure that occurred early this month (see post). In this case the FDIC actually liquidated the bank. These incidents highlight the need to remain within the federal insured limits.
I added a few new categories to my lists. I now have the ability to add labels to my posts. This allows me to categorize posts. All of my posts that cover checking or savings account bonuses are now labeled "bonuses". You can see all of these by clicking on the link below. I also label all local deals by state, so now you can view all of the deals that are available by state. These links are in the local CD deal section. Note, I've just started labeling so not all states or previous deals are included.
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 Feb 17th, Feb 10th, Feb 3rd, Jan 27th, Jan 20th, Jan 13th, Jan 6th and Dec 30th.
As of February 24, 2007
Checking/Savings/Money Market Accounts:
- Geauga Savings Bank - 5.45% ($25K min), see post
- AmTrustDirect - 5.36% ($1K min), my 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
- OneUnited - 5.30% (min $1K), my post
- Direct Huntington - 5.30% ($1K min), my post
- Apple Bank - 5.27%, my post
- WTDirect - 5.26% ($10K min), my post
- FNBO Direct - 5.25%, 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)
- Corus Bank - 5.16% MMA (min $10K to open)
- FirstFedDirect - 5.16% (min $1K) (closed to CA residents), my post
- Discover Bank - 5.14% MMA (min $10K)
- MyBankingDirect - 5.10% MMA (min $5K), my post
- Mutual Bank - 5.10% MMA (min $5K), 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 ($25 bonus)
- Tennessee Commerce Bank - 5.05% (min $10K), 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
- Citibank - 4.75%, requires checking account, my post ($200 bonus)
- Self-Help Credit Union - 4.68% MMA (min $500), my post
- EverBank - 4.61% ($1.5K min), 6.01% 3-mo promo, 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)
- 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 - 5.44% (min $10K), my post
- UFB Direct - 5.30% (min $8K)
- Countrywide - 5.30% (min $10K), my post
- Imperial Capital - 5.30%, ($2K min), my post
- FirstFedDirect - 5.26% (min $10K), my post
- IndyMac Bank - 5.25% (min $5K), my post
- GMAC Bank - 5.15% (min $500), my post
- Corus Bank - 5.15% (min $10K)
- Charles Schwab - 5.04% (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)
- Merrill Lynch Bank - 5.50% (min $25K), my post
- FirstFedDirect - 5.46% (min $10K), my post
- IndyMac Bank - 5.45% (min $5K), my post
- VirtualBank - 5.44% (min $10K), my post
- NetBank - 5.40% (min $1K)
- AmTrustDirect - 5.36% (min $1K) my post
- Tennessee Commerce Bank - 5.35% (min $5K)
- Corus Bank - 5.35% (min $10K)
- Imperial Capital - 5.35%, ($2K min), 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 - 5.27% (min $500), my post
- HSBC Direct - 5.25% (min $1K), new money only
- ETrade Bank - 5.25% (min $1K), my post
- E-LOAN - 5.25% ($10K min), my post
- EmigrantDirect - 5.20% (min $1K)
- GMAC Bank - 5.20% (min $500), my post
- EverBank - 5.15% ($1.5K min)
- ebank - 5.15% (min $1K), 5.40% for ePremium checking customers
- UmbrellaBank.com - 5.10% (min $1K)
- Washington Mutual - 5.10% (min $1K), rates vary by state
- 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
- AmTrustDirect - 5.41% (min $1K) my post
- Countrywide - 5.40% (min $10K), my post
- FirstFedDirect - 5.35% (min $10K), my post
- Imperial Capital - 5.35% ($2K min), my post
- NASA FCU - 5.25% (8 months) (min $5K), my post
- GMAC Bank - 5.25% (min $500), 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)
- IndyMac Bank - 5.15% (min $5K), my post
- ING Direct - 5.05%, my post
12-Month Certificates of Deposit:
- Patelco Credit Union - 5.64% ($1K min), not NCUA insured, my post
- AmTrustDirect - 5.46% (min $1K) my post
- NetBank - 5.45% (min $1K), my post ($100 bonus)
- Tennessee Commerce Bank - 5.40% (min $5K)
- ETrade Bank - 5.40% (min $1K), my post
- FirstFedDirect - 5.40%, (min $10K) my post
- Imperial Capital - 5.35% ($2K min), my post
- AmboyDirect - 5.35% (min $10K), my post
- Mutual Bank - 5.35% (min $2.5K) my post
- Navy FCU - 5.30% ($20K min) restrictions to membership, my post
- 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
- UFB Direct - 5.30% (min $8K)
- IndyMac Bank - 5.30% (min $5K), my post
- Transportation Alliance Bank - 5.27% ($1K min)
- ebank - 5.25% (min $1K), 5.50% for ePremium checking customers
- E-LOAN - 5.25% ($10K min), my post
- Self-Help Credit Union - 5.25% (min $500), my post
- EmigrantDirect - 5.20% (min $1K)
- Countrywide - 5.20% (min $10K)
- UmbrellaBank.com - 5.20% (min $1K)
- EverBank - 5.20% ($1.5K min)
- VirtualBank - 5.15% (min $10K), 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:
- Navy FCU - 6.00% (15 months) ($8K min) restrictions to membership, my post
- Patelco Credit Union - 5.75% (14 months) ($1K min), not NCUA insured, 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 - 5.45% (min $1K), my post ($100 bonus)
- E-LOAN - 5.38% ($10K min), my post
- iGobanking - 5.30% (min $500), my post
- GMAC Bank - 5.20% (min $500)
- Imperial Capital - 5.20% ($2K min), my post
- 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
- ETrade Bank - 5.00% (min $1K), my post
- Mutual Bank - 4.85% (min $5K) my post
- UmbrellaBank.com - 4.75% (min $1K)
24-Month Certificate of Deposit:
- Mutual Bank - 5.47% (min $5K) my post
- Navy FCU - 5.40% ($20K min) restrictions to membership, my post
- NetBank - 5.40% (min $1K), my post ($100 bonus)
- Presidential Bank - 5.30% (min $1K)
- Melrose CU - 5.25% (min $5K) my post
- Imperial Capital - 5.20% ($2K min), my post
- GMAC Bank - 5.20% (min $500)
36-Month Certificate of Deposit:
- Pentagon Federal CU - 5.50% (min $1K), my post
- Mutual Bank - 5.47% (min $5K) my post
- Navy FCU - 5.45% ($20K min) restrictions to membership, my post
- NetBank - 5.40% (min $1K), my post ($100 bonus)
- First State Bank - 5.35% ($1K min), my post
- Agriculture FCU - 5.25% (min $1K), my post
- Fort Belvoir FCU - 5.23% (min $1K), my post
- EmigrantDirect - 5.20% (min $1K)
- Melrose CU - 5.20% (min $5K) my post
- E-LOAN - 5.20% ($10K min), my post
- Transportation Alliance Bank - 5.15% ($1K min)
- GMAC Bank - 5.10% (min $500)
- Imperial Capital - 5.10% ($2K min), my post
- ebank - 5.10% (min $1K), 5.35% for ePremium checking customers
- Self-Help Credit Union - 5.02% (min $500), my post
- AmTrustDirect - 5.00% (min $1K) my post
- ETrade Bank - 5.00% (min $1K), my post
- Countrywide - 5.00% (min $10K)
- UmbrellaBank.com - 4.75% (min $1K)
48-Month Certificate of Deposit:
- Pentagon Federal CU - 5.50% (min $1K), my post
- Navy FCU - 5.50% ($20K min) restrictions to membership, my post
- NetBank - 5.40% (min $1K), my post ($100 bonus)
- First State Bank - 5.35% ($1K min), my post
- Fort Belvoir FCU - 5.34% (min $1K), 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
- EmigrantDirect - 5.20% (min $1K)
- E-LOAN - 5.20% ($10K min), my post
- Transportation Alliance Bank - 5.15% ($1K min)
- GMAC Bank - 5.10% (min $500)
- ebank - 5.10% (min $1K), 5.35% for ePremium checking customers
- Self-Help Credit Union - 5.01% (min $500), my post
- Countrywide - 5.00% (min $10K)
- UmbrellaBank.com - 4.75% (min $1K)
60-Month Certificate of Deposit:
- Pentagon Federal CU - 5.75% (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 - 5.50% (min $1K), my post
- NetBank - 5.40% (min $1K), my post ($100 bonus)
- USA FCU - 5.38% (min $1K) my post
- First State Bank - 5.35% ($1K min), my post
- Presidential Bank - 5.35% (min $1K)
- Melrose CU - 5.30% (min $5K) my post
- E-LOAN - 5.30% ($10K min), my post
- EmigrantDirect - 5.20% (min $1K)
- GMAC Bank - 5.15% (min $500)
- Transportation Alliance Bank - 5.15% ($1K min)
- VirtualBank - 5.15% (min $10K), my post
- Members Credit Union - 5.13% (min $2K), my post
- Imperial Capital - 5.10% ($2K min), 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
- Self-Help Credit Union - 5.02% (min $500), my post
- ebank - 5.00% (min $1K), 5.35% for ePremium checking customers
- Countrywide - 5.00% (min $10K)
- 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 - 6.00% (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% Money Market Account at Lockheed FCU ($10K Max)
- 6.00% Dime 3-month intro rate on Money Market account
- 5.58% 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)
- 6.10% Reward Checking Account at a Nevada CU (Clearstar Financial)
- 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)
- 5.05% Low-Minimum Online Savings Account (California)
- 5.01% Checking Account (Wisconsin/Illinois)
- 5.00% Money Market Account (Utah)
- 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
- Alabama deals and CD rates
- California deals and CD rates
- Colorado deals and CD rates
- Connecticut deals and CD rates
- Florida deals and CD rates
- Georgia deals and CD rates
- Illinois deals and CD rates
- Indiana deals and CD rates
- Kansas deals and CD rates
- Kentucky deals and CD rates
- Maryland deals and CD rates
- Michigan deals and CD rates
- Nevada deals and CD rates
- New Hampshire deals and CD rates
- New Jersey deals and CD rates
- New York deals and CD rates
- North Carolina deals and CD rates
- Ohio deals and CD rates
- Oregon deals and CD rates
- Pennsylvania deals and CD rates
- Washington State deals and CD rates
- Tennessee deals and CD rates
- Texas deals and CD rates
- Wisconsin deals and CD rates
Terms of 60 Months and Over
- 6.25% 120-Month CD at a New York Bank (Ridgewood Savings)
- 6.25% 60-Month CD at a Pennsylvania Bank - Variable (First National Community)
- 6.18% 60-Month CD at a Florida/Georgia Bank (Southeastern)
- 6.06% 60-Month CD at a Tennessee CU (MPD Community)
- 6.00% 80-Month CD at a Ohio CU (Sharefax)
- 6.00% 60-Month CD at a Ohio CU (AP FCU)
- 5.90% 72-Month CD at a Missouri Bank (Garden City)
- 5.83% 60-Month CD at a Florida Bank (Surety)
- 5.81% 60-Month CD at a Utah CU (Deseret First)
- 5.75% 60-Month CD at a Georgia Bank (Peachtree)
- 5.75% 60-Month CD at a NY/PA Bank (Community Bank, N.A.)
- 5.70% 84-Month CD at a Missouri CU (Neighbors)
- 5.65% 60-Month CD at a Washington Bank (Westsound)
- 5.50% 60-Month CD at a Georgia Bank (Alpha)
- 5.50% 60-Month CD at a Washington DC Bank (Adams National)
Terms of 24 Months to Under 60 Months
- 8.00% 24-Month CD at a Washington State CU - IRA (Spokane Law Enforcement)
- 6.98% 36-Month CD at a California Bank - Variable IRA (Alliance Bank)
- 6.15% 24-Month CD at a Florida CU (South Florida)
- 6.00% 24-Month CD at a New York CU - $50K Min (Palisades)
- 5.97% 24-Month CD at a California CU (Los Angeles)
- 5.92% 48-Month CD at a Florida/Georgia Bank (Southeastern)
- 5.80% 24-Month CD at a Massachusetts CU (Central One FCU)
- 5.80% 41-Month CD at a New Jersey CU (Tri-Co)
- 5.80% 24-Month CD at a Georgia CU (MACO Educators)
- 5.75% 24-Month CD at a Virginia CU (Bronco)
- 5.75% 24-Month CD at a Texas CU (United SA)
- 5.75% 24-Month CD at a New York CU (Buffalo Metropolitan)
- 5.75% 50-Month CD at a Ohio CU (AP FCU)
- 5.65% 24-Month CD at a Maryland/Virginia/DC CU (Washington Telephone)
- 5.65% 24-Month CD at a Oregon CU (NW Preferred)
- 5.64% 24-Month CD at a Ohio CU (Sharefax)
- 5.64% 35-Month CD at a Virginia CU (Baylands)
- 5.64% 24-Month CD at a Ohio CU (First Service)
- 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)
- 6.30% 14-Month CD at a Virginia CU - IRA (Apple)
- 6.05% 13-Month CD at a Florida CU (South Florida)
- 6.00% 12-Month CD at a Michigan CU (Huron River Area)
- 6.00% 18-Month CD at a Minnesota Bank - IRA (Park State)
- 6.00% 12-Month CD at a North Carolina CU (Carolina Postal)
- 6.00% 13-Month CD at a Illinois CU - IRA (Great Lakes)
- 6.00% 15-Month CD at a Connecticut CU - IRA (Achieve Financial)
- 6.00% 15-Month CD at a South Carolina CU Continues (MCAS Beaufort)
- 5.96% 12-Month CD at a Georgia CU (MACO Educators)
- 5.90% 12-Month CD at a Utah CU - and Other High Rates (Pacific Rails)
- 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% 15-Month CD at a Oregon/South Carolina CU (Consolidated)
- 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)
- 5.75% 16-Month CD at a Virginia CU - (Apple)
- 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% 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% 12-Month CD at a Georgia Bank (Peachtree)
- 5.65% 13-Month CD at a Washington State CU (WSE)
- 5.61% 18-Month CD at a DC/MA CU (Transportation)
- 5.61% 12-Month CD at a DC/MA CU (Transportation)
- 5.60% 12-Month CD at a Georgia Bank (Alpha)
- 5.60% 12-Month CD at a Utah CU (Deseret First)
- 5.60% 12-Month CD at a Florida Bank (Coral Gables)
- 5.60% 15-Month CD at a Multi-State Credit Union (FAA Eastern Region)
- 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)
- 5.55% 12-Month CD at a Maryland/Virginia/DC CU (Washington Telephone)
- 5.55% 12-Month CD at a Texas Bank (Park Cities)
- 5.51% 13-Month CD at a South Dakota CU (Sentinel)
- 5.51% 16-Month CD at a Maryland CU (MCT)
- 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)
- 5.50% 12-Month CD at a New York CU (Buffalo Metropolitan)
- 5.50% 12-Month CD at a Texas Bank and $50 Checking Account Bonus (Century)
- 5.50% 13-Month CD at a Alabama CU (Redstone)
- 5.50% 12-Month CD at a Texas CU (San Antonio)
- 5.50% 18-Month CD at a Washington Bank (Westsound)
- 5.50% 12-Month CD at a Kansas Bank (Capitol Federal Savings)
- 5.50% 18-Month CD at a Maryland CU (Tower)
- 5.50% 17-Month CD at a Kentucky CU (Fort Knox)
- 5.40% 12-Month CD at a Texas CU (United SA)
- 5.39% 15-Month CD at a Philadelphia Bank (Asian Bank)
Terms of Under 12 Months
- 10.00% 6-Month CD at a IN/MI/GA Bank Continues - $2.5K Max (Flagstar)
- 8.16% 5-Month CD at a Wisconsin CU - $4K Max (Northwoods Community)
- 7.00% 6-Month CD at a CA Credit Union - $5K Max (Pacific Service)
- 7.00% 7-Month CD at a California CU - $7K Max (Wescom)
- 6.15% 6-Month CD at a Florida Bank (Coast Bank of Florida)
- 6.00% 10-Month CD at a Michigan CU (Lake Michigan)
- 6.00% 3-Month CD at a Virginia CU (Arlington Virginia)
- 6.00% 7-Month CD at a Colorado CU (US Alliance)
- 6.00% 5-Month CD at a New Jersey Bank (Valley National)
- 5.92% 11-Month CD at a New York / Pennsylvania CU (Visions)
- 5.92% 6-Month CD at a New York / Pennsylvania CU (Visions)
- 5.80% 7-Month CD at a Oregon/South Carolina CU (Consolidated)
- 5.80% 10-Month CD at a Colorado Bank (Summit Bank and Trust)
- 5.80% 9-Month CD at a Georgia Bank (Bank of Georgia)
- 5.80% 6-Month CD at a Georgia Bank (Bank of Georgia)
- 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)
- 5.75% 9-Month CD at a Maryland CU (Prince George's Community)
- 5.70% 7-Month CD at a Iowa Bank (American Bank)
- 5.65% 9-Month CD at a Arizona CU (Arizona Federal)
- 5.65% 11-Month CD at a Missouri CU (River Region)
- 5.65% 7-Month CD at a Dallas Bank (Jefferson)
- 5.65% 6-Month CD at a Georgia Bank (Columbus Community)
- 5.62% 11-Month CD at a Alabama Bank (The Peoples)
- 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% 11-Month CD at a Maryland CU (MCT)
- 5.55% 8-Month CD at a California CU - IRA (San Diego County)
- 5.55% 11-Month CD at a California CU (LA Financial)
- 5.55% 5-Month CD at a Illinois CU - IRA (Great Lakes)
- 5.55% 5-Month CD at a Kansas Bank (Halstead)
- 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)
- 5.50% 6-Month CD at a Washington DC Bank (Adams National)
- 5.50% 6-Month CD at a Missouri CU - and Gift Card (American Eagle)
- 5.50% 6-Month CD at a California Bank (Luther Burbank Savings)
- 5.50% 9-Month CD at a Colorado Bank (Academy)
- 5.50% 11-Month CD at a California Credit Union and $75 Checking Bonus (California)
- 5.50% 11-Month CD at a Oregon CU (NW Preferred)
- 5.50% 7-Month CD at a Kentucky CU (Fort Knox)
- 5.50% 7-Month CD at a Indiana Bank (Monroe)
- 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 - 4.96% 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
[Edited 2/25/07: Removed inaccurate info on the bank that was liquidated.]
Featured Accounts
Related Posts
Useful Resources
Nationwide Savings Accounts
SVG (anonymous) - #1, Saturday, February 24, 2007 - 6:20 PM
Banking Guy,
One of the highest yielding checking account is USAA's Asset Management Account. It is currently yielding 5.10% APY for 'USAA Federal Savings Bank Money Market-FDIC Insured'.
Lots of money market savings funds have restrictions such as 'only 6 withdrawal transactions' per month. But not USAA's AMA. In fact, it offers unlimited withdrawal's using checks. (Yes ... even the check-printing is free for life !) It has free bill-pay. (Of course one can use it to trade stocks / bonds / mutual-funds / ETFs if one is so inclined.)
In addition to choice of 'USAA Federal Savings Bank Money Market-FDIC Insured' (which as the name suggests comes with FDIC insurance) it also has other useful selections which might be attractive for the folks who are generally in higher tax-brackets.
1) Tax Exempt Money Market Fund (Exempt from Federal Taxes)
2) California Money Market Fund (Exempt from both Federal and CA taxes)
3) New York Money Market Fund (Exempt from both Federal and NY taxes)
4) ..
5) ..
etc.
All of this if of course one 'qualifies' for USAA membership and if one opens it with min. $5000.
- SVG
SVG (anonymous) - #2, Saturday, February 24, 2007 - 6:46 PM
There are two other points worth noting ==>
1) USAA's AMA also comes with a debit card which is acceptable wherever MasterCard is accepted. Every purchase made using debit card earns 1/2% Cash Reward.
2) USAA's AMA can send/receive ACH transfers for free. (If one wants to do credit-card/mortgage automatic payments made out of AMA, that is possible. If one wants to receive one's pay-check into AMA that is possible too.)
In short USAA's AMA Checking offers whole lot of additional facilities at the same time offering one of the best APYs there is for a checking account.
- SVG
dman (anonymous) - #3, Sunday, February 25, 2007 - 11:17 AM
I like the new categories. Good work Banking Guy.
Banking Guy (anonymous) - #4, Sunday, February 25, 2007 - 3:39 PM
dman, thanks for the support.
SVG, about USAA's Asset Management Account, isn't this a money market fund similar to what Fidelity and Vanguard offer?
It does seem to have some advantages over the other MMF's. I guess the only downside is the limited membership now with USAA.
SVG (anonymous) - #5, Sunday, February 25, 2007 - 6:07 PM
Banking Guy,
Yes ... to a certain extent it is similar ... however in the most important aspect - FDIC insurance - it rises above Vanguard and Fidelity. Both funds offered by Vanguard and Fidelity are Mutual Funds, therefore in theory their NAV can fall under $1 and if it were to happen there won't be any rescue by FDIC for Vanguard/Fidelity.
USAA's AMA also rises above both Vanguard and Fidelity in the aspects of no-minimum check amount per check. Besides there is ATM access for USAA and USAA reimburses (some) ATM charge per month if folks use ATM of other banks/CUs. AFAIK, both Vanguard and Fidelity don't have ATM access.
>>I guess the only downside is the limited membership now with USAA.<<
True.
- SVG
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