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6.00% Savings Account for 118 Days at AmTrust Bank in Arizona

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AmTrust Bank is now offering 6% APY for 118 days on its Gold Savings Account. This is only available to Arizona residents. If you click on the Gold Savings Account banner on the front page, and then enter an Arizona zip code (such as 85206), you'll get to this page. The minimum deposit to open and earn the 6% is $500. The maximum deposit is $100K. New money is required. Offer requires an existing or new AmTrust Bank checking account. After the 118 days, the rate falls to 3.50% APY. To avoid a closing fee, the account must remain open for 180 days. This offer is available through July 31, 2007.

AmTrust had been offering this same deal for those in Ohio (see post), but this has now ended, and it appears only those in Arizona can now receive this promo rate. Arizona Branches are located in Phoenix and its metro area. In addition to a branch visit, you can open this account by phone or online.

Note, this special is not being offered by AmTrust's online division, AmTrustDirect. This seems to be a common promotion at AmTrust. Before the Ohio 6% promotion, several AmTrust branches in Florida had this same promotion (see post).

AmTrust Bank use to be a division of Ohio Savings Bank. Just recently, Ohio Savings changed their name to AmTrust Bank. AmTrust Bank is FDIC insured (FDIC Certificate # 29776).

Thanks to the reader who mentioned this promotion in the comments.

[Edit 7/4/07: Added some additional requirements and potential fees.]

  Tags: Arizona, savings account

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Comments
2 Comments.
Comment #1 by MrFrugality (anonymous) posted on
MrFrugality
Several notable caveats:
>>>"...funded with money not currently on deposit with AmTrust Bank."
>>>..."Offer requires an existing or new AmTrust Bank checking account."
>>>"There will be a fee if account is closed within 180 days of opening."
Result is 118 days at the promo 6.00% rate, but to avoid a fee requires leaving funds an additional 62 days at the regular rate (currently 3.50%). Yes, one would then obviously reduce the balance to the minimum $500.

1
Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Thanks, I had missed the checking account requirement. I don't remember that requirement on the Ohio or Florida specials. I wonder if that is new. I've updated the post with these details.

1