Dedicated to Deposits: Deals, Data, and Discussion

5.48% 24 and 36-Month CDs at Bank of Internet USA


Bank of Internet USA
Bank of Internet USA is offering a yield of 5.48% APY on a certificate of deposit for terms from 24 to 29 months and from 36 to 47 months. An APY of 5.41% is available on terms from 18 to 23 months. The minimum deposit is $1,000, the maximum deposit is $100K.

Applications can be done online. However, there seems to be no ACH transfer option for funding. The application only has a check or wire option for funding. You can designate payable-on-death ownership with multiple beneficiaries in the application.

BofI is one of the oldest online-only banks. It opened on July 4, 2000. I first reported on BofI last July. BofI has never had competitive online rates for its savings account or money market account. However, it does have some nice checking accounts, especially for Seniors. The rate is 3.65% APY for up to $25K. There are no minimum balance requirements or monthly fees. It offers free checks and ATM reimbursements of up to $8/month.

Bank of Internet USA is FDIC insured.

  Tags: CD rates, Bank of Internet USA, checking account

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Comment #1 by SVG (anonymous) posted on
Banking Guy,

>>It opened on July 4, 2000. I first reported on BofI last July.<<

Interesting ... Banks are closed on July 4th ! *smile*


Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Good point. Perhaps it was just their website. It was probably good marketing with their name and to showcase the benefits of internet banking.