Bank Deals Weekly Summary for February 2, 2008
Feb 2, 2008 - 5:28 PM by Ken Tumin
Quick Link for Rates, Recap of this week's posts
After a 50 basis-point rate cut by the Fed, this was another week of large cuts in savings account and CD rates. The target federal funds rate has fallen 125 basis points to 3.00% in less than two weeks, and the banks didn't delay in cutting their rates.
Future Bank Rates?
There has been some interesting opinion articles at BestCashCow about future CD rates. One article describes how the credit crisis is going to force banks to attract more deposits. Banks aren't going to be able to sell their loans off in the form of securitized investments. Instead they're going to have to keep loans on their balance sheets. This will force banks to increase their deposits to support those loans. The author sees CD rates (especially for longer terms) being forced higher because of this.
Another article at BestCashCow also sees future opportunities in CD rates, but warns against going too long (over one year) due to inflation risks.
Few CDs With Yields Near 5%
Unfortunately, there are no more nationwide 5% short term CD deals that I'm aware of. However, there are some that are close. Countrywide Bank was one of the very few banks that actually raised rates. For their internet CD, the 3-month and 6-month terms have a yield of 4.90% APY. Even though Alliant Credit Union ended its 5.40% APY jumbo CDs, you still can get 4.90% APY for 12 to 17 month terms with a $25K minimum deposit. The nearest 12-month CD yield from a bank is 4.40% APY from Flagstar. So although it doesn't sound hot, if you compare what's available, it's actually still a hot deal (see post).
Another bank offering 4.90% APY is Sunshine Savings Bank in Florida. It's a special CD with a term of 13 months. When I last contacted this bank, I was told they do accept out-of-state deposits by mail. It's a small bank. So if the bank gets a lot of demand, this could change (see post).
If you want a 5% APY CD, the only ones available nationwide is at Pentagon Federal Credit Union. KeyDirect also has a 5% APY CD in some states for terms of 7 years and longer (5.05% APY for $50K+ balances). The only problem with these long term CDs is that there's a one-year early withdrawal penalty. As the BestCashCow article warns, this could be costly if inflation forces rates to jump in the next few years.
5-Percent-Plus Savings Accounts
There's now just one non-promo savings account that's 5% or higher. OneUnited Bank is the sole bank that has kept its online savings account yield unchanged since the first Fed rate cut last September. It remains at 5.30% APY for balances over $1,000. The account has several downsides such as interest being paid quarterly, a slow account opening process and ACH transfer restrictions (see post). But if there were no downsides, everybody would be jumping on this deal, and OneUnited would certainly have to lower the rate.
The problem with savings accounts is that their rates could change at any time. Few things are more frustrating than opening an account right before a major rate cut. That's one nice thing about promotions like what EverBank runs which guarantees a high intro rate for 3 months. Unfortunately, those promos are disappearing. EverBank still has its promo, but the intro rate fell again this week. It's now 4.51% APY. AmTrustDirect ended its 3-month promo for its e-Savings Account. The standard yield is 4.60% APY.
I did find a bank this week that still is offering a 5-percent-plus 3-month intro rate. It's GCF Bank, and it's offering 5.09% APY on its CyberSaver Account for 3 months. Like OneUnited, it has some downsides like quarterly posting of interest. But even with these issues, it's still a better deal than any nationally available 3-month CD.
Reward Checking Accounts
The reward checking accounts are still holding their yields better than the online savings accounts. However, banks have also been lowering these rates. First Arkansas Bank & Trust will be cutting the rate on its nationally available reward checking account from 6.06% to 4.44% APY starting next week. It will also be placing a cap of $50K that can earn the top yield (see post). There are still several banks and credit unions offering 6.01% APY on their reward checking accounts. Most have caps of $25K. I've updated my high reward checking account list below with accounts that have nationwide availability. Two still have a 6.01% APY.
Local CD Deals
You might notice that my local CD list below is much shorter than in the past. Seems like 80% of the posts I did this week were out-of-date as of today. Many banks and credit unions posted new rates for February that followed the big Fed rate cuts. I went through all of the posts since December and removed those that had dropped their rates. I only kept the banks and credit unions on the list which are still listing the high rates on their websites. Hopefully, their websites are up-to-date. Be sure to call to verify the rates before driving to the bank.
Savings and CD rates are dropping fast. So please check with the bank or credit union to make sure the deals that I've posted are still available. If they're not, please leave a comment.
Recap for the Week
Banking News
Savings Accounts - National
CD Deals - National
Checking/Savings Account Bonuses
Reward Checking Accounts
CD and Money Market Deals - Local
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 26th, Jan 19th, Jan 12th, Jan 5th, Dec 29th, Dec 22nd, Dec 15th, Dec 8th and Dec 1st.
Quick Links: Refer to the following links for the savings accounts and CDs that interest you: Liquid Account Rates: Savings Accounts, Special rates, Local checking/savings, Bank alternatives CD Rates: 3 Mo CDs, 6 Mo CDs, 9 Mo CDs, 12 Mo CDs, 18 Mo CDs, 24 Mo CDs, 36 Mo CDs, 48 Mo CDs, 60 Mo CDs, 84 Mo CDs, CDs by state Comments: read and discuss
As of February 2, 2008
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:
18-Month Certificates of Deposit:
24-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 Yield Reward Checking Accounts - Open to All
Checking and Saving Accounts at Local Banks/Credit Unions
CD Specials at Local Credit Unions/Banks Over the Last Month
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
Historical Rates from the Federal Reserve (Federal funds, Treasury bills, CD's)
After a 50 basis-point rate cut by the Fed, this was another week of large cuts in savings account and CD rates. The target federal funds rate has fallen 125 basis points to 3.00% in less than two weeks, and the banks didn't delay in cutting their rates.
Future Bank Rates?
There has been some interesting opinion articles at BestCashCow about future CD rates. One article describes how the credit crisis is going to force banks to attract more deposits. Banks aren't going to be able to sell their loans off in the form of securitized investments. Instead they're going to have to keep loans on their balance sheets. This will force banks to increase their deposits to support those loans. The author sees CD rates (especially for longer terms) being forced higher because of this.
Another article at BestCashCow also sees future opportunities in CD rates, but warns against going too long (over one year) due to inflation risks.
Few CDs With Yields Near 5%
Unfortunately, there are no more nationwide 5% short term CD deals that I'm aware of. However, there are some that are close. Countrywide Bank was one of the very few banks that actually raised rates. For their internet CD, the 3-month and 6-month terms have a yield of 4.90% APY. Even though Alliant Credit Union ended its 5.40% APY jumbo CDs, you still can get 4.90% APY for 12 to 17 month terms with a $25K minimum deposit. The nearest 12-month CD yield from a bank is 4.40% APY from Flagstar. So although it doesn't sound hot, if you compare what's available, it's actually still a hot deal (see post).
Another bank offering 4.90% APY is Sunshine Savings Bank in Florida. It's a special CD with a term of 13 months. When I last contacted this bank, I was told they do accept out-of-state deposits by mail. It's a small bank. So if the bank gets a lot of demand, this could change (see post).
If you want a 5% APY CD, the only ones available nationwide is at Pentagon Federal Credit Union. KeyDirect also has a 5% APY CD in some states for terms of 7 years and longer (5.05% APY for $50K+ balances). The only problem with these long term CDs is that there's a one-year early withdrawal penalty. As the BestCashCow article warns, this could be costly if inflation forces rates to jump in the next few years.
5-Percent-Plus Savings Accounts
There's now just one non-promo savings account that's 5% or higher. OneUnited Bank is the sole bank that has kept its online savings account yield unchanged since the first Fed rate cut last September. It remains at 5.30% APY for balances over $1,000. The account has several downsides such as interest being paid quarterly, a slow account opening process and ACH transfer restrictions (see post). But if there were no downsides, everybody would be jumping on this deal, and OneUnited would certainly have to lower the rate.
The problem with savings accounts is that their rates could change at any time. Few things are more frustrating than opening an account right before a major rate cut. That's one nice thing about promotions like what EverBank runs which guarantees a high intro rate for 3 months. Unfortunately, those promos are disappearing. EverBank still has its promo, but the intro rate fell again this week. It's now 4.51% APY. AmTrustDirect ended its 3-month promo for its e-Savings Account. The standard yield is 4.60% APY.
I did find a bank this week that still is offering a 5-percent-plus 3-month intro rate. It's GCF Bank, and it's offering 5.09% APY on its CyberSaver Account for 3 months. Like OneUnited, it has some downsides like quarterly posting of interest. But even with these issues, it's still a better deal than any nationally available 3-month CD.
Reward Checking Accounts
The reward checking accounts are still holding their yields better than the online savings accounts. However, banks have also been lowering these rates. First Arkansas Bank & Trust will be cutting the rate on its nationally available reward checking account from 6.06% to 4.44% APY starting next week. It will also be placing a cap of $50K that can earn the top yield (see post). There are still several banks and credit unions offering 6.01% APY on their reward checking accounts. Most have caps of $25K. I've updated my high reward checking account list below with accounts that have nationwide availability. Two still have a 6.01% APY.
Local CD Deals
You might notice that my local CD list below is much shorter than in the past. Seems like 80% of the posts I did this week were out-of-date as of today. Many banks and credit unions posted new rates for February that followed the big Fed rate cuts. I went through all of the posts since December and removed those that had dropped their rates. I only kept the banks and credit unions on the list which are still listing the high rates on their websites. Hopefully, their websites are up-to-date. Be sure to call to verify the rates before driving to the bank.
Savings and CD rates are dropping fast. So please check with the bank or credit union to make sure the deals that I've posted are still available. If they're not, please leave a comment.
Recap for the Week
Banking News
- More Falling Savings Account Rates
- Fed Cuts Rate by 50 Basis Points - Prepare for Another Round of Savings Account and CD Rate Cuts
- More Falling Savings Account and CD Rates
- First US Bank Failure of 2008
Savings Accounts - National
CD Deals - National
- New PenFed CD Rates - Down But Still Competitive
- Competitive CD and Savings Account Rates Still at Alliant Credit Union
- Last Day for WaMu's 5.10% 7-Month Add-On CD
- 5.10% 3-Month CD at Countrywide in CA, 5.00% In Some Other States EXPIRED
Checking/Savings Account Bonuses
Reward Checking Accounts
- Rate Cuts Hit the Nation's Best Reward Checking Account
- 5.01% Reward Checking Account at a North Carolina Bank (CommunityOne)
- 6.01% Reward Checking Account at an Iowa Bank (MidWestOne)
- 6.01% Reward Checking Account at an Indiana/Ohio CU (Three Rivers)
CD and Money Market Deals - Local
- 6.00% 7-Month CD at a Washington CU - $10K Max (Group Health)
- 5.25% 7-Month CD at a New York Bank (Valley National)
- 5.02% 48-Month CD at a Florida CU (Envision)
- 5.00% 5-Month CD at a Texas Bank (American Bank of Commerce)
- Thursday is Last Day for 5.75% 13-Month CD at LA Financial Credit Union
- 5.15% 24-Month / 5.10% 12-Month CD at a Texas Credit Union (Alamo) - EXPIRED
- 5.00% 5-Month CD at a California CU (Central State)
- 5.20% 18-Month CD at a Tennessee CU (Old Hickory) EXPIRED
- Capital One's 4.00% 12-month Checking Account Deal in Central Texas Ends Thursday
- 5.33% 54-Month CD at an Ohio/Pennsylvania CU (Sun Federal) EXPIRED
- 5.05% 60-Month / 4.75% 12-Month CD at a Colorado CU (Bellco) EXPIRED
- 5.00% 60-Month CD at Justice FCU - Easy Membership - EXPIRED
- 5.10% 5-Month CD at a California CU - easy membership (NuVision) EXPIRED
- 4.90% 13-Month CD at a Florida Bank (Sunshine Savings)
- 5.26% 36-Month CD at an Illinois Credit Union (Scott) EXPIRED
- 5.15% 9-Month CD at a Missouri Bank (Farmers State Bank) EXPIRED
- 5.08% 60-Month / 4.78% 12-Month CD at a Virginia CU (Fort Lee) EXPIRED
- 5.00% 60-Month CD at a Virginia CU (PortAlliance)
- 5.00% 60-Month / 4.85% 12-Month CD at Philadelphia Federal Credit Union EXPIRED
- 5.00% 60-Month / 4.90% 12-Month CD at a Georgia CU (Atlanta Postal) EXPIRED
- 5.25% 8-Month CD at a California CU (Santa Clara County) EXPIRED
- 5.00% 60-Month / 4.86% 12-Month CD at a New York CU (LOMTO) EXPIRED
- 5.00% 36-Month / 5.00% 84-Month CD at a Texas CU (SACU) EXPIRED
- 5.00% 7-Month / 5.10% 4-Month CD at a California CU (USE) EXPIRED
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 26th, Jan 19th, Jan 12th, Jan 5th, Dec 29th, Dec 22nd, Dec 15th, Dec 8th and Dec 1st.
Quick Links: Refer to the following links for the savings accounts and CDs that interest you: Liquid Account Rates: Savings Accounts, Special rates, Local checking/savings, Bank alternatives CD Rates: 3 Mo CDs, 6 Mo CDs, 9 Mo CDs, 12 Mo CDs, 18 Mo CDs, 24 Mo CDs, 36 Mo CDs, 48 Mo CDs, 60 Mo CDs, 84 Mo CDs, CDs by state Comments: read and discuss
As of February 2, 2008
Checking/Savings/Money Market Accounts:
- Checking/Savings Account Bonuses
- The Best Checking Accounts - Including Reward Checking
- Latest CD and Savings Account Deals with No Major Deposit Limitiations
- OneUnited - 5.30% (min $1K), account review ($50 bonus)
- GCF Bank - 5.09% (min $100), 3-mo promo, account review
- Countrywide - 4.75% (min $10K), account review
- AmTrustDirect - 4.60% (e-Savings) account review
- Century Bank Direct - 4.54% (min $100) account review
- EverBank - 4.51% ($1.5K min), 3mo promo, account review
- BankUnited - 4.50% (min $5K), account review
- AmTrustDirect - 4.50% (e-Money Market) account review
- Savings Square - 4.50%, account review
- Corus Bank - 4.50% MMA (min $10K) account review
- ETrade Bank - 4.40%, post ($25 bonus)
- Flagstar - 4.40% MMA, account review
- Alliant Credit Union - 4.35% (min $100) account review
- FNBO Direct - 4.30%, account review
- WTDirect - 4.30% ($10K min), account review
- grand yield direct - 4.25% (min $2.5K) account review
- Citibank - 4.25%, requires checking account and bill pay usage, account review
- Washington Mutual - 4.25% (requires checking), account review
- iGobanking - 4.20%, account review
- Zions Bank - 4.18% MMA, outside of Utah, (min $1K) (4.24% $50K+, 4.39% $100K+), account review
- ShoreBank - 4.15%, account review ($25 bonus)
- M&T Bank - 4.05%, account review
- CapitalOne/Costco - 4.05% MMA (min $5K, Costco members only, $50 deal for exec. members)
- BancoFortuna.com - 4.05%, account review
- EmigrantDirect - 4.05%, account review
- UmbrellaBank - 4.02% MMA (min $1K), account review
- KeyDirect - 4.00% MMA (min $50), Not all states, account review
- Capital One - 4.00% (Savings) (min $10K)
- GMAC Bank - 4.00% MMA (min $500), account review
- UFB Direct - 4.00%, account review
- AmboyDirect - 4.00% post ($25 bonus)
- PFF Bank and Trust - 4.00% (min $1K), account review
- Discover Bank - 3.82% MMA (min $10K) (3.92% for $50K+)
- HSBC Direct - 3.80%, account review
- Heartland Bank Direct - 3.80%, ($500 min), account review
- E-LOAN - 3.75% ($5K min), account review
- FirstFedDirect - 3.75% (min $1K) (closed to CA residents), account review
- Doral Bank Direct - 3.75% (min $1K) account review
- Bank of America AAA/NEA - 3.71% MMA ($10K min) (3.97% for $50K+) account review
- Salem Five Direct - 3.65% Checking (4.10% $100K+), account review
- Melrose CU - 3.55% (min $25) account review
- EverBank - 3.51% ($1.5K min) account review
- UnivestDirect - 3.50%, (2.75% checking), account review
- Capital One - 3.50% MMA, account review
- Direct Huntington - 3.50% ($1K min), account review
- MetLife Bank - 3.50% MMA (min $5K), post ($50 bonus)
- Presidential Bank - 3.50% (min $5K, only first $35K receives this rate), offers 2.75% checking, account review
- ING Direct - 3.40%, (2.25% checking), post ($25 bonus)
- Imperial Capital - 3.40% MMA ($2.5K min) (4.05% for $100K+) account review
- MyBankingDirect - 3.25% MMA (min $5K), account review
- Charles Schwab - 3.21% Checking, account review
- VirtualBank - 3.05% (min $100), (3.82% $50K+/ 4.08% $100K+) offers checking, post ($20 bonus)
- NewBank - 3.00% Checking, post ($50 bonus)
- Indymac Bank - 3.00% MMA (min $25K) (4.00% $75K+) account review
- Transportation Alliance Bank - 3.00%, ($25 min), account review
- Bank of America DoW - 2.80% MMA (min $10K) (3.05% for $50K+), account review
- Mutual Bank - 2.75% MMA (min $5K), account review
- ebank - 2.50% MMA ($10K min) (3.75% for $100K+), account review
- Tennessee Commerce Bank - 2.31% (min $10K), account review
- Self-Help Credit Union - 2.29% MMA (min $500), account review
3-Month Certificates of Deposit:
- Countrywide - 4.90% (min $10K), account review
- IndyMac Bank - 4.50% (min $5K), account review
- UmbrellaBank - 4.25% (min $1K)
- EverBank - 4.25% ($1.5K min)
- Imperial Capital - 4.05%, ($2K min), account review
- ebank - 4.00% (min $1K), 4.25% for ePremium checking customers
- GMAC Bank - 3.90% (min $500), account review
- FirstFedDirect - 3.80% (min $10K), account review
- VirtualBank - 3.77% (min $10K), account review
- E-LOAN - 3.50% ($10K min), account review
- National Bank of KC - 3.40% (min $10K), account review
- UFB Direct - 3.25% (min $8K)
- Element Financial - 3.15% (min $10K), account review
- ETrade Bank - 3.00% (min $1K), account review
- Self-Help Credit Union - 2.86% (min $500), account review
6-Month Certificates of Deposit:
- Countrywide - 4.90% (min $10K), account review
- Northrop Grumman FCU - 4.58% (min $40K), account review
- CU of Georgia - 4.44% (min $50K), account review
- EverBank - 4.30% ($1.5K min)
- Western FCU - 4.27% (min $40K), account review
- Flagstar - 4.25% (min $500), account review
- Century Bank Direct - 4.21% (5 mo) (min $1K) account review
- Corus Bank - 4.20% (min $10K) account review
- Imperial Capital - 4.15%, ($2K min), account review
- UmbrellaBank - 4.00% (min $1K)
- ebank - 4.00% (min $1K), 4.25% for ePremium checking customers
- AmTrustDirect - 4.00% (min $1K) account review
- NASA FCU - 4.00% (5 mo) (min $5K) account review
- iGobanking - 4.00% (min $500), account review
- Intervest - 4.00% (min $2.5K), account review
- IndyMac Bank - 4.00% (min $5K), account review
- GMAC Bank - 3.90% (min $500), account review
- Advanta Bank - 3.85% (min $10K), account review
- La Jolla Bank - 3.80% (min $10K), account review
- FirstFedDirect - 3.80% (min $10K), account review
- KeyDirect - 3.75% (min $5K), Not all states, account review
- Tennessee Commerce Bank - 3.75% (min $5K)
- Doral Bank Direct - 3.75% (min $1K) account review
- Lehman Brothers Bank - 3.72% (min $1K)
- ING Direct - 3.65%, account review
- E-LOAN - 3.60% ($10K min), account review
- VirtualBank - 3.51% (min $10K), account review
- Ascencia Bank - 3.51% (min $500), account review
- Washington Mutual - 3.51% (min $1K), account review
- EmigrantDirect - 3.50% (min $1K)
- National Bank of KC - 3.50% (min $10K), account review
- Bank of Internet - 3.45% (min $1K) account review
- ETrade Bank - 3.40% (min $1K), account review
- Element Financial - 3.20% (min $10K), account review
- UFB Direct - 3.15% (min $8K)
- Wells Fargo - 3.10% (5 months) (min $5K), rate and min vary by state, account review
- Self-Help Credit Union - 3.07% (min $500), account review
- Capital One - 3.00% (min $5K)
9-Month Certificates of Deposit:
- Academy Bank - 4.30% (min $500), account review
- EverBank - 4.30% ($1.5K min)
- AmboyDirect - 4.25% (min $10K), account review
- Century Bank Direct - 4.11% (10 mo) (min $1K) account review
- Imperial Capital - 4.05% ($2K min), account review
- UmbrellaBank - 4.00% (min $1K)
- Countrywide - 4.00% (min $10K), account review
- iGobanking - 4.00% (min $500), account review
- GMAC Bank - 3.90% (min $500), account review
- FirstFedDirect - 3.75% (min $10K), account review
- Doral Bank Direct - 3.75% (min $1K) account review
- EmigrantDirect - 3.50% (min $1K)
- AmTrustDirect - 3.50% (min $1K) account review
- National Bank of KC - 3.50% (min $10K), account review
- Bank of Internet - 3.45% (min $1K) account review
- ING Direct - 3.40% (new money), account review
- IndyMac Bank - 3.35% (min $5K), account review
- Element Financial - 3.35% (min $10K), account review
- VirtualBank - 3.05% (min $10K), account review
12-Month Certificates of Deposit:
- Alliant Credit Union - 4.90% (min $25K) account review
- CU of Georgia - 4.65% (min $50K), account review
- Western FCU - 4.55% (min $40K), account review
- Northrop Grumman FCU - 4.50% (min $40K), account review
- Zopa - 4.50% (min $500) account review
- Flagstar - 4.40% (min $500), account review
- Air Force FCU - 4.35% (min $25K) restrictions to membership, account review
- Melrose CU - 4.32% (min $5K) account review
- EverBank - 4.25% ($1.5K min)
- Academy Bank - 4.20% (min $500), account review
- Navy FCU - 4.15% ($20K min) (4.30% for $100K+) restrictions to membership, account review
- Principal Bank - 4.11% (14 mo) (min $5K), account review
- Imperial Capital - 4.05% ($2K min), account review
- Pacific Mercantile Bank - 4.04% (min $10K) account review
- Intervest - 4.02% (min $2.5K), account review
- NewBank - 4.00% (min $5K), account review
- ebank - 4.00% (min $1K), 4.25% for ePremium checking customers
- Apple Bank - 4.00% (min $500) account review
- Countrywide - 4.00% (min $10K), account review
- iGobanking - 4.00% (min $500), account review
- Advanta Bank - 4.00% (min $10K), account review
- Delta Community CU - 4.00% (min $1K) account review
- GTE FCU - 3.97% (min $500) account review
- La Jolla Bank - 3.90% (min $10K), account review
- GMAC Bank - 3.90% (min $500), account review
- Corus Bank - 3.86% (min $10K) account review
- Tennessee Commerce Bank - 3.85% (min $5K)
- UmbrellaBank - 3.75% (min $1K)
- FirstFedDirect - 3.75%, (min $10K) account review
- E-LOAN - 3.75% ($10K min), account review
- Lehman Brothers Bank - 3.72% (min $1K)
- Doral Bank Direct - 3.70% (min $1K) account review
- National Bank of KC - 3.60% (min $10K), account review
- Element Financial - 3.51% (min $10K), account review
- Ascencia Bank - 3.51% (min $500), account review
- EmigrantDirect - 3.50% (min $1K)
- AmTrustDirect - 3.50% (min $1K) account review
- ING Direct - 3.40% (new money), account review
- Discover Bank - 3.40% (min $2.5K)
- First State Bank - 3.40% ($1K min), account review
- IndyMac Bank - 3.35% (min $5K), account review
- Capital One - 3.30% (min $5K)
- Mutual Bank - 3.30% (min $1K) account review
- KeyDirect - 3.25% (min $5K), Not all states, account review
- Bank of Internet - 3.25% (min $1K) account review
- Washington Mutual - 3.25% (min $1K), account review
- Transportation Alliance Bank - 3.25% ($1K min)
- VirtualBank - 3.05% (min $10K), account review
- H&R Block Bank - 3.00% (min $250) account review
- UFB Direct - 2.95% (min $8K)
- ETrade Bank - 2.85% (min $1K), account review
- Self-Help Credit Union - 2.63% (min $500), account review
18-Month Certificates of Deposit:
- Alliant Credit Union - 4.90% (17 mo) (min $25K) account review
- EverBank - 4.25% ($1.5K min)
- Academy Bank - 4.25% (min $500) account review
- Flagstar - 4.15% (min $500), account review
- Intervest - 4.05% (min $2.5K), account review
- NewBank - 4.00% (min $5K), account review
- ebank - 4.00% (min $1K), 4.25% for ePremium checking customers
- iGobanking - 4.00% (min $500), account review
- Advanta Bank - 4.00% (min $10K), account review
- Tennessee Commerce Bank - 3.80% (min $5K)
- Countrywide - 3.75% (min $10K)
- GMAC Bank - 3.75% (min $500)
- Doral Bank Direct - 3.70% (min $1K) account review
- Lehman Brothers Bank - 3.67% (min $1K)
- Huntington - 3.67% (13 mo) (min $2K) account review
- National Bank of KC - 3.60% (min $10K), account review
- Element Financial - 3.51% (min $10K), account review
- EmigrantDirect - 3.50% (min $1K)
- AmTrustDirect - 3.50% (min $1K) account review
- ING Direct - 3.40%, account review
- Discover Bank - 3.40% (min $2.5K)
- First State Bank - 3.40% ($1K min), account review
- Capital One - 3.40% (min $5K)
- Bank of Internet - 3.25% (min $1K) account review
- H&R Block Bank - 3.25% (min $250) account review
- IndyMac Bank - 3.10% (min $5K), account review
- VirtualBank - 3.05% (min $10K), account review
- ETrade Bank - 2.50% (min $1K), account review
24-Month Certificates of Deposit:
- CU of Georgia - 4.70% (min $50K), account review
- Alliant Credit Union - 4.65% (min $25K) account review
- Western FCU - 4.40% (min $40K), account review
- Air Force FCU - 4.40% (min $25K) restrictions to membership, account review
- Melrose CU - 4.27% (min $5K) account review
- Apple Bank - 4.25% (min $500) account review
- EverBank - 4.25% ($1.5K min)
- Navy FCU - 4.25% ($20K min) (4.40% for $100K+) restrictions to membership, account review
- Delta Community CU - 4.25% (min $1K) account review
- Flagstar - 4.15% (min $500), account review
- Intervest - 4.08% (min $2.5K), account review
- Advanta Bank - 4.05% (min $10K), account review
- Northrop Grumman FCU - 4.00% (min $40K), account review
- ebank - 4.00% (min $1K), 4.25% for ePremium checking customers
- NewBank - 3.75% (min $5K), account review
- KeyDirect - 3.75% (min $5K),Not all states, account review
- Countrywide - 3.75% (min $10K)
- GMAC Bank - 3.75% (min $500)
- Tennessee Commerce Bank - 3.70% (min $5K)
- Doral Bank Direct - 3.70% (min $1K) account review
- E-LOAN - 3.65% ($10K min), account review
- National Bank of KC - 3.60% (min $10K), account review
- Element Financial - 3.55% (min $10K), account review
- Lehman Brothers Bank - 3.51% (min $1K)
- Ascencia Bank - 3.51% (min $500), account review
- ING Direct - 3.40%, account review
- Discover Bank - 3.40% (min $2.5K)
- Mutual Bank - 3.40% (min $1K) account review
- Capital One - 3.40% (min $5K)
- Transportation Alliance Bank - 3.25% ($1K min)
- H&R Block Bank - 3.25% (min $250) account review
- Presidential Bank - 3.25% (min $1K)
- IndyMac Bank - 3.15% (min $5K), account review
- Bank of Internet - 3.15% (min $1K) account review
- VirtualBank - 3.05% (min $10K), account review
- AmTrustDirect - 2.99% (min $1K) account review
- UFB Direct - 2.90% (min $8K)
- Self-Help Credit Union - 2.58% (min $500), account review
36-Month Certificate of Deposit:
- CU of Georgia - 4.75% (min $50K), account review
- Western FCU - 4.60% (min $40K), account review
- Pentagon Federal CU - 4.50% (min $1K), account review
- Patelco CU - 4.44% ($1K min), account review
- Navy FCU - 4.40% ($20K min) (4.50% for $100K+) restrictions to membership, account review
- Air Force FCU - 4.40% (min $25K) restrictions to membership, account review
- Melrose CU - 4.32% (min $5K) account review
- Delta Community CU - 4.25% (min $1K) account review
- Flagstar - 4.15% (min $500), account review
- EverBank - 4.15% ($1.5K min)
- Intervest - 4.10% (min $2.5K), account review
- Advanta Bank - 4.05% (min $10K), account review
- Northrop Grumman FCU - 4.03% (min $40K), account review
- KeyDirect - 4.00% (min $5K), Not all states, account review
- Agriculture FCU - 4.00% (min $1K), account review
- ebank - 4.00% (min $1K), 4.25% for ePremium checking customers
- Principal Bank - 3.95% (33 mo) (min $5K), account review
- NewBank - 3.75% (min $5K), account review
- Countrywide - 3.75% (min $10K)
- Capital One - 3.75% (min $5K)
- GMAC Bank - 3.75% (min $500)
- E-LOAN - 3.75% ($10K min), account review
- Lehman Brothers Bank - 3.72% (min $1K)
- National Bank of KC - 3.70% (min $10K), account review
- Doral Bank Direct - 3.70% (min $1K) account review
- Tennessee Commerce Bank - 3.65% (min $5K)
- Element Financial - 3.60% (min $10K), account review
- EmigrantDirect - 3.50% (min $1K)
- Mutual Bank - 3.50% (min $1K) account review
- ING Direct - 3.40%, account review
- Discover Bank - 3.40% (min $2.5K)
- Bank of Internet - 3.35% (min $1K) account review
- First State Bank - 3.30% ($1K min), account review
- Transportation Alliance Bank - 3.25% ($1K min)
- H&R Block Bank - 3.25% (min $250) account review
- IndyMac Bank - 3.15% (min $5K), account review
- VirtualBank - 3.05% (min $10K), account review
- UFB Direct - 3.00% (min $8K)
- AmTrustDirect - 2.99% (min $1K) account review
- Self-Help Credit Union - 2.81% (min $500), account review
- ETrade Bank - 2.50% (min $1K), account review
48-Month Certificate of Deposit:
- CU of Georgia - 4.80% (min $50K), account review
- Pentagon Federal CU - 4.75% (min $1K), account review
- Western FCU - 4.65% (min $40K), account review
- Navy FCU - 4.45% ($20K min) (4.50% for $100K+) restrictions to membership, account review
- Patelco CU - 4.44% ($1K min), account review
- Melrose CU - 4.32% (min $5K) account review
- Northrop Grumman FCU - 4.31% (min $40K), account review
- Advanta Bank - 4.25% (min $10K), account review
- Agriculture FCU - 4.15% (min $1K), account review
- Flagstar - 4.15% (min $500), account review
- EverBank - 4.15% ($1.5K min)
- Intervest - 4.15% (min $2.5K), account review
- ebank - 4.00% (min $1K), 4.25% for ePremium checking customers
- KeyDirect - 4.00% (min $5K),Not all states, account review
- Capital One - 4.00% (min $5K)
- USA FCU - 3.97% (min $1K) account review
- Lehman Brothers Bank - 3.92% (min $1K)
- Element Financial - 3.90% (min $10K), account review
- E-LOAN - 3.85% ($10K min), account review
- Washington Mutual - 3.75% (min $1K), account review
- Countrywide - 3.75% (min $10K)
- GMAC Bank - 3.75% (min $500)
- National Bank of KC - 3.70% (min $10K), account review
- Doral Bank Direct - 3.70% (min $1K) account review
- Tennessee Commerce Bank - 3.65% (min $5K)
- Bank of Internet - 3.55% (min $1K) account review
- EmigrantDirect - 3.50% (min $1K)
- IndyMac Bank - 3.50% (min $5K), account review
- H&R Block Bank - 3.50% (min $250) account review
- Discover Bank - 3.45% (min $2.5K)
- ING Direct - 3.40%, account review
- First State Bank - 3.30% ($1K min), account review
- Transportation Alliance Bank - 3.25% ($1K min)
- Self-Help Credit Union - 3.06% (min $500), account review
- VirtualBank - 3.05% (min $10K), account review
60-Month Certificate of Deposit:
- CU of Georgia - 4.85% (min $50K), account review
- Pentagon Federal CU - 4.85% (min $1K), account review
- Northrop Grumman FCU - 4.74% (min $40K), account review
- Western FCU - 4.74% (min $40K) account review
- Navy FCU - 4.65% ($20K min) (4.80% for $100K+) restrictions to membership, account review
- Apple Bank - 4.50% (min $500) account review
- KeyDirect - 4.50% (min $5K), Not all states, account review
- Patelco CU - 4.44% ($1K min), account review
- EverBank - 4.40% ($1.5K min)
- Advanta Bank - 4.40% (min $10K), account review
- Melrose CU - 4.37% (min $5K) account review
- Air Force FCU - 4.35% (min $25K) restrictions to membership, account review
- Agriculture FCU - 4.25% (min $1K), account review
- Intervest - 4.25% (min $2.5K), account review
- Delta Community CU - 4.25% (min $1K) account review
- Flagstar - 4.15% (min $500), account review
- Lehman Brothers Bank - 4.13% (min $1K)
- USA FCU - 4.07% (min $1K) account review
- ING Direct - 4.00%, account review
- ebank - 4.00% (min $1K), 4.25% for ePremium checking customers
- Capital One - 4.00% (min $5K)
- Telcom Credit Union - 4.00% (min $500) account review
- E-LOAN - 3.85% ($10K min), account review
- Element Financial - 3.80% (min $10K), account review
- Bank of Internet - 3.75% (min $1K) account review
- Washington Mutual - 3.75% (min $1K), account review
- Countrywide - 3.75% (min $10K)
- GMAC Bank - 3.75% (min $500)
- National Bank of KC - 3.70% (min $10K), account review
- Doral Bank Direct - 3.70% (min $1K) account review
- Discover Bank - 3.66% (min $2.5K)
- Tennessee Commerce Bank - 3.65% (min $5K)
- UFB Direct - 3.55% (min $8K)
- EmigrantDirect - 3.50% (min $1K)
- IndyMac Bank - 3.50% (min $5K), account review
- First State Bank - 3.50% ($1K min), account review
- Mutual Bank - 3.50% (min $51) account review
- H&R Block Bank - 3.50% (min $250) account review
- Presidential Bank - 3.35% (min $1K)
- Self-Help Credit Union - 3.28% (min $500), account review
- Transportation Alliance Bank - 3.25% ($1K min)
- VirtualBank - 3.05% (min $10K), account review
- AmTrustDirect - 2.99% (min $1K) account review
- ETrade Bank - 2.75% (min $1K), account review
84-Month Certificate of Deposit:
- KeyDirect - 5.00% (min $5K) Not all states, account review
- Pentagon Federal CU - 5.00% (min $1K), account review
- Navy FCU - 4.70% ($20K min) (4.80% for $100K+) restrictions to membership, account review
- Intervest - 4.27% (min $2.5K), 5.15% for 10yr, account review
- Capital One - 4.25% (5.30% 10yr)(min $5K)
- Countrywide - 3.75% (min $10K)
- EmigrantDirect - 3.50% (min $1K)
High Yield Reward Checking Accounts - Open to All
- 6.06% Reward Checking at First Arkansas Bank & Trust (4.44% starting 2/7/08)
- 6.01% Reward Checking at Air Academy FCU
- 6.01% Reward Checking Account at Charter Bank
- 5.51% Reward Checking Account at Provident Credit Union
- 5.09% Reward Checking Account at Consumers Credit Union
- 5.01% Reward Checking Account at State Bank of Toledo
- 5.01% Reward Checking Account at Connexus Credit Union
- 4.25% Reward Checking Account at First National Bank
Checking and Saving Accounts at Local Banks/Credit Unions
- Local High Yield Reward Checking Accounts
- 5.50% 3-Month Money Market Promo at Amboy (New Jersey)
- 4.45% No-Minimum Online Savings Account (New York)
- 4.65% Checking Account (Florida)
- 4.25% Money Market Account (Utah)
- 4.25% Low-Minimum Online Savings Account (California)
- Savings Account Tied to Prime Rate (Ohio)
CD Specials at Local Credit Unions/Banks Over the Last Month
- Alabama deals and CD rates
- Alaska deals and CD rates
- Arizona deals and CD rates
- Arkansas deals and CD rates
- California deals and CD rates
- Colorado deals and CD rates
- Connecticut deals and CD rates
- Delaware deals and CD rates
- District of Columbia deals and CD rates
- Florida deals and CD rates
- Georgia deals and CD rates
- Hawaii deals and CD rates
- Idaho deals and CD rates
- Illinois deals and CD rates
- Indiana deals and CD rates
- Iowa deals and CD rates
- Kansas deals and CD rates
- Kentucky deals and CD rates
- Louisiana deals and CD rates
- Maine deals and CD rates
- Maryland deals and CD rates
- Massachusetts deals and CD rates
- Michigan deals and CD rates
- Minnesota deals and CD rates
- Mississippi deals and CD rates
- Missouri deals and CD rates
- Montana deals and CD rates
- Nebraska deals and CD rates
- Nevada deals and CD rates
- New Hampshire deals and CD rates
- New Jersey deals and CD rates
- New Mexico deals and CD rates
- New York deals and CD rates
- North Carolina deals and CD rates
- North Dakota deals and CD rates
- Ohio deals and CD rates
- Oklahoma deals and CD rates
- Oregon deals and CD rates
- Pennsylvania deals and CD rates
- Rhode Island deals and CD rates
- South Carolina deals and CD rates
- South Dakota deals and CD rates
- Tennessee deals and CD rates
- Texas deals and CD rates
- Utah deals and CD rates
- Vermont deals and CD rates
- Virginia deals and CD rates
- Washington State deals and CD rates
- West Virginia deals and CD rates
- Wisconsin deals and CD rates
- Wyoming deals and CD rates
Terms of 60 Months and Over
- 5.50% 60-Month CD at a Maryland CU (Prince George's Community)
- 5.27% 60-Month CD at a Texas CU (Baptist)
- 5.25% 60-Month CD at a California/Arizona CU (United Methodist)
- 5.23% 60-Month CD at a Massachusetts CU (Telephone Workers')
- 5.00% 60-Month CD at a Virginia CU (PortAlliance)
Terms of 24 Months to Under 60 Months
- 5.25% 24-Month CD at a Maryland CU (Prince George's Community)
- 5.20% 29-Month CD at a Indiana CU (North Park Community)
- 5.13% 24-Month CD at a Massachusetts CU (Telephone Workers')
- 5.02% 48-Month CD at a Florida CU (Envision)
- 5.01% 24-Month CD at a Texas CU (Baptist)
Terms of 12 Months to Under 24 Months
- 5.35% 15-Month CD at a Virginia/DC Credit Union (State Department)
- 5.09% 12-Month CD at a California/Arizona CU (United Methodist)
- 4.90% 13-Month CD at a Florida Bank (Sunshine Savings)
Terms of Under 12 Months
- 9.00% 9-Month CD at a Colorado Credit Union Continues - $2K Max (Elevations)
- 7.00% 7-Month CD at a Texas CU - $7K Max (Premier America)
- 6.00% 7-Month CD at a Washington CU - $10K Max (Group Health)
- 5.25% 7-Month CD at a New York Bank (Valley National)
- 5.00% 9-Month CD at a Massachusetts Bank (Hyde Park Savings)
- 5.00% 9-Month CD at a Indiana CU (North Park Community)
- 5.00% 6-Month CD at a Tampa Bank - plus $50 Checking Bonus (Central Bank)
- 5.00% 6-Month CD at a Texas CU - with an add-on feature (Amplify)
- 5.00% 5-Month CD at a California CU (Central State)
- 5.00% 5-Month CD at a Texas Bank (American Bank of Commerce)
Bank Account Alternatives
- Money Magazine article on risk-free investments
- GE Interest Plus - 4.80% rate for $50k+
- Vanguard Prime Money Market Fund - 4.29% 7-day yield
- TIAA-CREF Money Market Fund - 4.17% 7-day yeild
- Fidelity Money Market Fund - 4.13% 7-day yield ($100 bonus and other info)
- Paypal Money Market Fund - 3.99% 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
Historical Rates from the Federal Reserve (Federal funds, Treasury bills, CD's)
Featured Accounts
Related Posts
Useful Resources
Nationwide Savings Accounts
Anonymous - #1, Sunday, February 3, 2008 - 11:32 AM
Thank you, Banking Guy. It's true returns are really down right now. I'm wondering if anyone here who participated in the Money One FCU deal, ten days (give or take) ago, has gone back to the well and successfully made the add-on deposit they promised we would be permitted to make. That's a 5.25% rate and looks very high from our vantage point today. Just wondering if they are honoring their promise to allow add-on deposits, especially large ones. Anybody had any luck?
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