Dedicated to Deposits: Deals, Data, and Discussion

5.40% 12-Month CD and $100 Bonus at Netbank (May Soon Be Ending)

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Update 9/28/07: NetBank closed by the FDIC. See post for more details.

NetBank has some very competitive CD rates which include a 5.40% APY 12-month CD and a 5.45% APY 18-month CD. The minimum deposit is $1,000.

NetBank is still advertising new customer bonuses for its accounts. With the acquisition of NetBank by EverBank (see post), these NetBank promotions will likely end.

Two of the best NetBank online promotions are from Buy.com and Drugstore.com. The Buy.com NetBank promo page has up to $215 in Buy.com Gift cards for opening a NetBank Checking ($70), Money Market ($70) and CD ($75). The Drugstore NetBank promo page has up to $250 in cash bonuses for opening a NetBank Checking ($75), Money Market ($75) and CD ($100).

The $100 bonus for the CD requires a term of at least 1 year and a minimum deposit of $15,000. The $100 bonus would add about 0.67% to the $15K CD yield which would result in an effective yield of over 6% APY.

These promotions have been around for couple of years. Refer to my post from last year for the details of the Drugstore/NetBank promo. I have more details on NetBank in this post. But with operations changing over to EverBank, you'll have to worry more about EverBank (see post).

A few things to consider if you do try for these NetBank promotions is that you may not qualify for the 6% EverBank promotion since this is only for new EverBank customers. Also, with all of these changes in the works, there's a possibility that these promos may fall through the cracks. So be sure to save the promo page for future reference if you have to argue your case with EverBank.

Both NetBank and Everbank are FDIC insured (NetBank FDIC Certificate # 32575 and EverBank FDIC Certificate # 34775).

Thanks to the readers who mentioned these latest NetBank rates and bonuses.

  Tags: CD rates

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