Bank Deals Weekly Summary for March 15, 2008

Quick Link for Rates, Recap of this week's posts

I'm afraid it looks very likely that the Fed will be cutting rates on Tuesday by at least 75 basis points. One analyst mentioned in this Forbes article "said a 50 basis point cut is now completely off the table and markets are betting on at least a 75 basis point cut, if not 100." With the problems at Bear Stearns and yesterday's release of February's CPI, the Fed may act aggressively on Tuesday. The CPI news will probably add to the cynicism towards the government's CPI numbers. The CPI indicated that overall inflation held steady in February even though food costs did increase.

What's the Best Term for a CD?

For savers who want to keep money in banking accounts, CDs are the only way to lock in rates. The difficult question is how long should the CD term be. The National Bureau of Economic Research President Martin Feldstein said yesterday that the recession could be "substantially more severe" than recent ones (see Reuters article). If it lasts longer than our last recession in 2001, we may see rates stay very low for several years. This would favor longer term CDs. However, Feldstein also mentioned that "powerful forces will continue to drive inflation higher." So this may force rates to rise sometime in the future. If that happens, you won't want to be locked into a long-term CD. If you are considering a long-term CD, look for small early withdrawal penalties. For long term CDs, penalties typically range from 3 months to over 12 months of interest. Six month penalties seem to be the average.

If you're predicting that rates will rise substantially in the next year or two, you could be in bad shape when your short term CDs mature if your prediction is wrong. In that case you'll be stuck with very low rates. However, if you bet that rates will stay low and you go with a longer term, you always have the option to break the CD, if rates do shoot up. You'll lose some due to the early withdrawal penalty, but this could give you more options.

CD Deals

We still have some options for decent CD rates. I don't know how long these will last with the upcoming Fed rate cut. For terms of 12 to 24 months, the best deal continues to be at Alliant Credit Union. It is still offering a 4.90% APY for terms of 12 to 17 months, and 4.65% APY for terms of 18 to 24 months. These require a minimum deposit of $25,000. Lower rates (but still very competitive) are available with a $1,000 minimum. Anyone can qualify for Alliant membership by joining the National PTA. Please see my previous Alliant account review for more details.

For longer terms, National City Bank still has the best deal. It has extended its 5% APY 48-month promotional CD for another week. I've been told by a CSR that it can be opened by phone from any state. Previous National City promotions have been limited to states where they have branches, so please confirm the availabilty yourself with the bank. This CD has some downsides. It requires a checking or money market account. Also, there's a substantial early withdrawal penalty (12 months of interest). Another issue you may want to consider is National City's financial shape. They've been hit hard by the credit crisis. A reader sent me this news story about speculations that they're looking for a buyer.

Besides National City Bank, The best long-term CD deals continue to be from credit unions. The ones I include in the below lists are available to anyone through membership into various associations.

There are a few banks that still have CD rates at 4% or higher. Indymac Bank just came out with 4.05% APY on its 12 and 18-month CDs (see post). WaMu still has a 4% APY online 6-month CD and a 4.25% APY online 60-month CD. Plus, they came out with a special 4% 8-month CD last Monday (see post).

Healthy Banks with High CD Rates

For those who want to stick with banks with less exposure to the credit crisis, Bank of Internet USA came out this week with a 4.20% APY 60-month CD. It has a 5 out of 5 star rating (superior) at BauerFinancial based on 12/31/07 data. Please see my Bank of Internet CD review for more details.

Other healthy banks offering 4-percent-plus CDs include GMAC Bank, iGoBanking.com, Discover Bank and KeyDirect. See my lists below for links to my reviews.

Savings Accounts

Several online banks cut rates this week. I'm afraid it won't be long before 4% rates become history. Some of the banks that made cuts this week include Countrywide, Flagstar, UFB Direct, Grand Yield Direct, Heartland, WTDirect, AmTrustDirect, Citibank, Capital One and ING Direct.

High Yield Reward Checking Accounts

For those who want to maintain rates above 4% in their liquid accounts, reward checking accounts may soon be the only option. In the next few months we'll see if these accounts can maintain their rates. I don't expect these to be able to maintain 6%, but they could maintain rates above 4%. That could make their debit card usage requirements worthwhile.

I found a few more reward checking accounts this week (see recap below). Unfortunately, these are only local deals. My list of reward checking accounts available nationwide remains unchanged. There are still six of these accounts with yields of around 6% APY.

Rates will be falling fast this week so please check with the institutions to make sure the rates that I've posted are still available. If they're not, please leave a comment.

Recap for the Week

Savings Accounts - National

• Savings Account Rate Cuts by Countrywide, ING Direct and Citibank

CD Deals - National

• Indymac Bank CDs - Big Rate Changes and Best Way to Close a CD
• 4.20% 60-Month CD at Bank of Internet USA
• 4.00% 8-Month Add-On CD at WaMu
• 5.00% 48-Month CD at National City Bank Extended

Checking/Savings Account Bonuses

• $100 Checking Account Bonus at a Nebraska Bank (First National Bank North Platte)
• $100 TD AMERITRADE Account Bonus
• Update on $100 Checking Account Bonus at Flagstar Bank

Reward Checking Accounts

• 6.01% Reward Checking Account at a NH/MA Bank (Monadnock Community)
• 5.01% Reward Checking Account at a Louisiana Bank (Union)
• 5.01% Reward Checking Account at a Colorado Bank (Integrity Bank & Trust)
• 6.00% Reward Checking Account at a North Carolina Credit Union (Allegacy)

CD and Money Market Deals - Local

• 4.30% 60-Month / 4.00% 15-Month CD at a Chicago Bank (Cole Taylor)
• 4.58% 10-Month CD at a Georgia CU (Georgia's Own)
• 4.31% Money Market Account Through 8/8/2008 and $80 Bonus at an Illinois Bank (Elk Grove)
• 4.71% 12-Month CD at a New York City Bank (Savoy)
• 5.08% 28-Month CD at a New York CU - IRA (Nassau Educators)
• 6.00% 6-Month CD at a San Antonio CU (generations) EXPIRED
• 4.65% 7-Month CD at a New York City Bank - and $150 Checking Bonus (Valley National Bank)
• 3.97% 48-Month / 3.56% 12-Month CD at a Washington State CU (Group Health)
• 4.20% 60-Month / 4.10% 12-Month CD at a New York City CU - Easy Membership (Montauk)
• 4.40% 12-Month / 4.50% 60-Month CD at an Arizona/Texas CU (TruWest)
• 4.24% 24-Month / 4.19% 12-Month CD at a DC Credit Union (Signal Financial)
• 4.32% 9-Month CD at a Texas Credit Union (Velocity) 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 Mar 8th, Mar 1st, Feb 23rd, Feb 16th, Feb 9th, Feb 2nd, Jan 26th, Jan 19th and Jan 12th.

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 March 15, 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

• Century Bank Direct - 4.54% (min $100) account review
• EverBank - 4.51% ($1.5K min), 3mo promo, account review
• Provident Direct - 4.50%, account review
• GCF Bank - 4.40% (min $100), 3-mo promo, account review
• Alliant Credit Union - 4.35% (min $100) account review
• ShoreBank - 4.15%, account review ($25 bonus)
• Countrywide - 4.05% (min $10K), account review
• OneUnited - 4.00% (min $1K), account review ($50 bonus)
• Savings Square - 4.00%, account review
• BankUnited - 4.00% (min $5K), account review
• Washington Mutual - 4.00% (requires checking), account review
• Corus Bank - 4.00% MMA (min $10K) account review
• Flagstar - 4.00% MMA, account review
• UmbrellaBank - 3.90% MMA (min $1K), account review
• Bank of Internet - 3.90% MMA (offers 3.75% checking) account review
• Zions Bank - 3.87% MMA, outside of Utah, (min $1K) (3.98% $50K+, 4.03% $100K+), account review
• iGObanking - 3.86%, account review
• Capital One - 3.85% (Savings) (min $10K)
• FNBO Direct - 3.85%, account review
• UFB Direct - 3.85%, account review
• WTDirect - 3.81% ($10K min), account review
• Doral Bank Direct - 3.75% (min $1K) account review
• M&T Bank - 3.70%, account review
• grand yield direct - 3.70% (min $2.5K) account review
• AmboyDirect - 3.65% (Premium Savings) post ($25 bonus)
• Rainier Pacific - 3.60% MMA account review
• Amboy Direct - 3.56% (min $3K) (eSavings) account & $50 bonus review
• HSBC Direct - 3.55%, account review
• Melrose CU - 3.55% (min $25) account review
• EverBank - 3.51% ($1.5K min) account review
• Discover Bank - 3.51% MMA (min $2.5K) (3.61% for $50K+) account & bonus review
• KeyDirect - 3.50% MMA (min $50), Not all states, account review
• Salem Five Direct - 3.50% Checking (4.00% $100K+), account review
• Presidential Bank - 3.50% (min $5K, only first $35K receives this rate), offers 2.75% checking, account review
• E-LOAN - 3.50% ($5K min), account review
• AmTrustDirect - 3.50% (e-Savings) account review
• ETrade Bank - 3.45%, post ($25 bonus)
• UnivestDirect - 3.40%, (2.50% checking), account review
• FirstFedDirect - 3.40% (min $1K) (closed to CA residents), account review
• Heartland Bank Direct - 3.40%, ($500 min), account review
• BancoFortuna.com - 3.30%, account review
• EmigrantDirect - 3.30%, account review
• CapitalOne/Costco - 3.30% MMA (min $1K, Costco members only, $50 deal for exec. members)
• MetLife Bank - 3.25% MMA (min $5K), post ($50 bonus)
• MyBankingDirect - 3.25% MMA (min $5K), account review
• Citibank - 3.25% (Ultimate Money) requires chking & bill pay, account review
• Direct Huntington - 3.20% ($10K min) (3.50% $100K+), account review
• Imperial Capital - 3.10% MMA ($2.5K min) (3.75% for $100K+) account review
• Capital One - 3.10% MMA, account review
• ING Direct - 3.10%, (2.00% checking), post ($25 bonus)
• VirtualBank - 3.05% (min $100), (3.82% $50K+/ 4.08% $100K+) offers checking, post ($20 bonus)
• Bank of America AAA/NEA - 3.02% MMA ($10K min) (3.28% for $50K+) account review
• Charles Schwab - 3.01% Checking, account review
• PFF Bank and Trust - 3.00% (min $1K), account review
• 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
• GMAC Bank - 3.00% MMA (min $500), account review
• Mutual Bank - 2.75% MMA (min $5K), account review
• AmTrustDirect - 2.75% (e-Money Market) (3.00% $25K+, 3.25% $50K+) account review
• ebank - 2.50% MMA ($10K min) (3.60% for $100K+), account review
• Bank of America DoW - 2.34% MMA (min $10K) (2.60% for $50K+), account review
• Self-Help Credit Union - 2.11% MMA (min $500), account review
• Tennessee Commerce Bank - 1.55% (min $10K), account review

3-Month Certificates of Deposit:

• VirtualBank - 3.77% (min $10K), account review
• UmbrellaBank - 3.75% (min $1K)
• Countrywide - 3.75% (min $10K), account review
• ebank - 3.75% (min $1K), 4.00% for ePremium checking customers
• Imperial Capital - 3.70%, ($2K min), account review
• EverBank - 3.55% ($1.5K min)
• GMAC Bank - 3.50% (min $500), account review
• FirstFedDirect - 3.40% (min $10K), account review
• National Bank of KC - 3.40% (min $10K), account review
• E-LOAN - 3.26% ($10K min), account review
• Element Financial - 3.15% (min $10K), account review
• UFB Direct - 3.00% (min $8K)
• IndyMac Bank - 2.85% (min $5K), account review
• Self-Help Credit Union - 2.61% (min $500), account review
• ETrade Bank - 2.55% (min $1K), account review

6-Month Certificates of Deposit:

• Xerox FCU - 5.00% (min $500/max $25K) account review
• Century Bank Direct - 4.21% (5 mo) (min $1K) account review
• University FCU - 4.10% (min $2.5K), account review
• Countrywide - 4.05% (min $10K), account review
• Washington Mutual - 4.00% (min $1K), account review
• Flagstar - 3.91% (min $500), account review
• Mountain America CU - 3.90% (min $1K) account review
• Corus Bank - 3.85% (min $10K) account review
• Ascencia Bank - 3.76% (min $500), account review
• CU of Georgia - 3.76% (min $50K), account review
• Doral Bank Direct - 3.75% (min $1K) account review
• UmbrellaBank - 3.75% (min $1K)
• ebank - 3.75% (min $1K), 4.00% for ePremium checking customers
• Air Academy FCU - 3.70% (min $10K) account review
• Principal Bank - 3.70% (7 mo) (min $5K), account review
• NASA FCU - 3.65% (5 mo) (min $5K) account review
• Northrop Grumman FCU - 3.61% (min $40K), account review
• GMAC Bank - 3.60% (min $500), account review
• La Jolla Bank - 3.55% (min $10K), account review
• Western FCU - 3.53% (min $40K), account review
• FirstFedDirect - 3.51% (min $10K), account review
• VirtualBank - 3.51% (min $10K), account review
• National Bank of KC - 3.50% (min $10K), account review
• Imperial Capital - 3.50%, ($2K min), account review
• E-LOAN - 3.50% ($10K min), account review
• AmboyDirect - 3.50% (7 mo) (min $10K), account review
• Intervest - 3.48% (min $2.5K), account review
• Tennessee Commerce Bank - 3.40% (min $5K)
• Advanta Bank - 3.40% (min $10K), account review
• iGObanking - 3.40% (min $500), account review
• EverBank - 3.40% ($1.5K min)
• Lehman Brothers Bank - 3.30% (min $1K)
• Element Financial - 3.20% (min $10K), account review
• EmigrantDirect - 3.05% (min $1K)
• ING Direct - 3.00%, account review
• UFB Direct - 2.90% (min $8K)
• Self-Help Credit Union - 2.82% (min $500), account review
• Capital One - 2.75% (min $5K)
• KeyDirect - 2.75% (min $5K), Not all states, account review
• IndyMac Bank - 2.75% (min $5K), account review
• Bank of Internet - 2.70% (min $1K) account review
• ETrade Bank - 2.60% (min $1K), account review
• Wells Fargo - 2.50% (5 months) (min $5K), rate and min vary by state, account review
• AmTrustDirect - 2.50% (min $1K) account review

9-Month Certificates of Deposit:

• Doral Bank Direct - 3.75% (min $1K) account review
• Century Bank Direct - 3.64% (10 mo) (min $1K) account review
• GMAC Bank - 3.60% (min $500), account review
• Countrywide - 3.50% (min $10K), account review
• National Bank of KC - 3.50% (min $10K), account review
• UmbrellaBank - 3.50% (min $1K)
• Imperial Capital - 3.50% ($2K min), account review
• Academy Bank - 3.45% (min $500), account review
• iGObanking - 3.40% (min $500), account review
• EverBank - 3.40% ($1.5K min)
• Element Financial - 3.30% (min $10K), account review
• FirstFedDirect - 3.20% (min $10K), account review
• VirtualBank - 3.05% (min $10K), account review
• EmigrantDirect - 3.05% (min $1K)
• ING Direct - 2.75% (new money), account review
• Bank of Internet - 2.70% (min $1K) account review
• IndyMac Bank - 2.65% (min $5K), account review
• AmTrustDirect - 2.50% (min $1K) account review

12-Month Certificates of Deposit:

• Alliant Credit Union - 4.90% (min $25K) account review
• Zopa - 4.25% (min $500) account review
• University FCU - 4.20% (min $2.5K), account review
• Melrose CU - 4.06% (min $5K) account review
• IndyMac Bank - 4.05% (min $5K), account review
• Mountain America CU - 4.00% (min $1K) account review
• Air Academy FCU - 3.90% (min $10K) account review
• CU of Georgia - 3.87% (min $50K), account review
• iGobanking - 3.85% (13 mo) (min $500), account review
• Principal Bank - 3.85% (14 mo) (min $5K), account review
• Air Force FCU - 3.80% (min $25K) restrictions to membership, account review
• Delta Community CU - 3.75% (min $1K) account review
• ebank - 3.75% (min $1K), 4.00% for ePremium checking customers
• GTE FCU - 3.71% (min $500) account review
• Doral Bank Direct - 3.70% (min $1K) account review
• Northrop Grumman FCU - 3.67% (min $40K), account review
• National Bank of KC - 3.66% (min $10K), account review
• Navy FCU - 3.65% ($20K min) (3.80% for $100K+) restrictions to membership, account review
• Imperial Capital - 3.65% ($2K min), account review
• UmbrellaBank - 3.63% (min $1K)
• Advanta Bank - 3.60% (min $10K), account review
• Pacific Mercantile Bank - 3.60% (min $10K) account review
• GMAC Bank - 3.60% (min $500), account review
• La Jolla Bank - 3.60% (min $10K), account review
• Discover Bank - 3.56% (min $2.5K)
• VirtualBank - 3.56% (min $10K), account review
• Western FCU - 3.55% (min $40K), account review
• NewBank - 3.52% (min $5K), account review
• Transportation Alliance Bank - 3.51% ($1K min)
• Ascencia Bank - 3.51% (min $500), account review
• E-LOAN - 3.50% ($10K min), account review
• Countrywide - 3.50% (min $10K), account review
• Corus Bank - 3.50% (min $10K) account review
• Intervest - 3.50% (min $2.5K), account review
• Flagstar - 3.50% (min $500), account review
• Apple Bank - 3.50% (min $500) account review
• Tennessee Commerce Bank - 3.45% (min $5K)
• EverBank - 3.40% ($1.5K min)
• First State Bank - 3.40% ($1K min), account review
• Academy Bank - 3.40% (min $500), account review
• Lehman Brothers Bank - 3.35% (min $1K)
• Element Financial - 3.35% (min $10K), account review
• Mutual Bank - 3.30% (min $1K) account review
• Washington Mutual - 3.25% (min $1K), account review
• FirstFedDirect - 3.15%, (min $10K) account review
• EmigrantDirect - 3.05% (min $1K)
• H&R Block Bank - 3.00% (min $250) account review
• Capital One - 3.00% (min $5K)
• ING Direct - 2.75% account review
• Bank of Internet - 2.70% (min $1K) account review
• UFB Direct - 2.50% (min $8K)
• KeyDirect - 2.50% (min $5K), Not all states, account review
• AmTrustDirect - 2.50% (min $1K) account review
• ETrade Bank - 2.40% (min $1K), account review
• Self-Help Credit Union - 2.30% (min $500), account review

18-Month Certificates of Deposit:

• Alliant Credit Union - 4.90% (17 mo) (min $25K) account review
• IndyMac Bank - 4.05% (min $5K), account review
• Mountain America CU - 4.05% (min $1K) account review
• iGObanking - 3.85% (min $500) (4.00% 15 mo), account review
• ebank - 3.75% (min $1K), 4.00% for ePremium checking customers
• Doral Bank Direct - 3.70% (min $1K) account review
• Discover Bank - 3.66% (min $2.5K)
• Advanta Bank - 3.66% (min $10K), account review
• National Bank of KC - 3.66% (min $10K), account review
• GMAC Bank - 3.60% (min $500)
• NewBank - 3.52% (min $5K), account review
• Intervest - 3.51% (min $2.5K), account review
• Huntington - 3.51% (15 mo) (min $2K) account review
• Flagstar - 3.50% (min $500), account review
• Tennessee Commerce Bank - 3.45% (min $5K)
• Lehman Brothers Bank - 3.41% (min $1K)
• EverBank - 3.40% ($1.5K min)
• First State Bank - 3.40% ($1K min), account review
• Element Financial - 3.40% (min $10K), account review
• Academy Bank - 3.40% (min $500) account review
• Countrywide - 3.25% (min $10K)
• H&R Block Bank - 3.25% (min $250) account review
• VirtualBank - 3.05% (min $10K), account review
• EmigrantDirect - 3.05% (min $1K)
• Capital One - 3.00% (min $5K)
• ING Direct - 2.75%, account review
• Bank of Internet - 2.70% (min $1K) account review
• AmTrustDirect - 2.50% (min $1K) account review
• ETrade Bank - 2.20% (min $1K), account review

24-Month Certificates of Deposit:

• Alliant Credit Union - 4.65% (min $25K) account review
• University FCU - 4.30% (min $2.5K), account review
• Air Academy FCU - 4.10% (min $10K) account review
• Mountain America CU - 4.09% (min $1K) account review
• Melrose CU - 4.01% (min $5K) account review
• National City Bank - 4.00% (min $10K), account review
• CU of Georgia - 3.97% (min $50K), account review
• Air Force FCU - 3.90% (min $25K) restrictions to membership, account review
• Delta Community CU - 3.90% (min $1K) account review
• GMAC Bank - 3.75% (min $500)
• ebank - 3.75% (min $1K), 4.00% for ePremium checking customers
• Discover Bank - 3.71% (min $2.5K)
• National Bank of KC - 3.71% (min $10K), account review
• Doral Bank Direct - 3.70% (min $1K) account review
• Navy FCU - 3.70% ($20K min) (3.85% for $100K+) restrictions to membership, account review
• Western FCU - 3.67% (min $40K), account review
• Advanta Bank - 3.66% (min $10K), account review
• Intervest - 3.52% (min $2.5K), account review
• Ascencia Bank - 3.51% (min $500), account review
• Transportation Alliance Bank - 3.50% ($1K min)
• E-LOAN - 3.50% ($10K min), account review
• NewBank - 3.50% (min $5K), account review
• Apple Bank - 3.50% (min $500) account review
• Lehman Brothers Bank - 3.46% (min $1K)
• Tennessee Commerce Bank - 3.45% (min $5K)
• Flagstar - 3.45% (min $500), account review
• Element Financial - 3.45% (min $10K), account review
• Northrop Grumman FCU - 3.43% (min $40K), account review
• Mutual Bank - 3.40% (min $1K) account review
• EverBank - 3.30% ($1.5K min)
• KeyDirect - 3.25% (min $5K),Not all states, account review
• Countrywide - 3.25% (min $10K)
• H&R Block Bank - 3.25% (min $250) account review
• Presidential Bank - 3.25% (min $1K)
• Bank of Internet - 3.20% (min $1K) account review
• VirtualBank - 3.05% (min $10K), account review
• Capital One - 3.00% (min $5K)
• UFB Direct - 2.75% (min $8K)
• ING Direct - 2.75% account review
• IndyMac Bank - 2.65% (min $5K), account review
• AmTrustDirect - 2.50% (min $1K) account review
• Self-Help Credit Union - 2.31% (min $500), account review

36-Month Certificate of Deposit:

• University FCU - 4.40% (min $2.5K), account review
• Air Academy FCU - 4.30% (min $10K) account review
• Pentagon Federal CU - 4.25% (min $1K), account review
• Mountain America CU - 4.20% (min $1K) account review
• CU of Georgia - 4.07% (min $50K), account review
• Melrose CU - 4.06% (min $5K) account review
• GMAC Bank - 4.00% (min $500)
• Air Force FCU - 3.95% (min $25K) restrictions to membership, account review
• Discover Bank - 3.92% (min $2.5K)
• Delta Community CU - 3.90% (min $1K) account review
• National Bank of KC - 3.85% (min $10K), account review
• Navy FCU - 3.80% ($20K min) (3.90% for $100K+) restrictions to membership, account review
• Western FCU - 3.76% (min $40K), account review
• Advanta Bank - 3.75% (min $10K), account review
• NewBank - 3.75% (min $5K), account review
• Agriculture FCU - 3.75% (min $1K), account review
• ebank - 3.75% (min $1K), 4.00% for ePremium checking customers
• Lehman Brothers Bank - 3.72% (min $1K)
• Patelco CU - 3.71% ($1K min), account review
• Doral Bank Direct - 3.70% (min $1K) account review
• Principal Bank - 3.70% (33 mo) (min $5K), account review
• Bank of Internet - 3.65% (min $1K) account review
• Northrop Grumman FCU - 3.64% (min $40K), account review
• KeyDirect - 3.60% (35 mo) (min $5K), Not all states, account review
• Element Financial - 3.60% (min $10K), account review
• Intervest - 3.56% (min $2.5K), account review
• E-LOAN - 3.50% ($10K min), account review
• Tennessee Commerce Bank - 3.50% (min $5K)
• Mutual Bank - 3.50% (min $1K) account review
• Flagstar - 3.50% (min $500), account review
• Transportation Alliance Bank - 3.49% ($1K min)
• Capital One - 3.45% (min $5K)
• EverBank - 3.30% ($1.5K min)
• First State Bank - 3.30% ($1K min), account review
• Countrywide - 3.25% (min $10K)
• H&R Block Bank - 3.25% (min $250) account review
• UFB Direct - 3.05% (min $8K)
• VirtualBank - 3.05% (min $10K), account review
• EmigrantDirect - 3.05% (min $1K)
• IndyMac Bank - 3.00% (min $5K), account review
• ING Direct - 2.75%, account review
• Self-Help Credit Union - 2.62% (min $500), account review
• ETrade Bank - 2.50% (min $1K), account review
• AmTrustDirect - 2.50% (min $1K) account review

48-Month Certificate of Deposit:

• National City Bank - 5.00% (min $10K), account review
• University FCU - 4.50% (min $2.5K), account review
• Air Academy FCU - 4.40% (min $10K) account review
• Mountain America CU - 4.35% (min $1K) account review
• Pentagon Federal CU - 4.25% (min $1K), account review
• CU of Georgia - 4.18% (min $50K), account review
• Melrose CU - 4.06% (min $5K) account review
• Lehman Brothers Bank - 4.03% (min $1K)
• KeyDirect - 4.00% (min $5K), Not all states, account review
• GMAC Bank - 4.00% (min $500)
• Discover Bank - 3.97% (min $2.5K)
• USA FCU - 3.97% (min $1K) account review
• Bank of Internet - 3.95% (min $1K) account review
• Advanta Bank - 3.90% (min $10K), account review
• Agriculture FCU - 3.90% (min $1K), account review
• Northrop Grumman FCU - 3.89% (min $40K), account review
• Western FCU - 3.85% (min $40K), account review
• National Bank of KC - 3.85% (min $10K), account review
• Navy FCU - 3.85% ($20K min) (3.90% for $100K+) restrictions to membership, account review
• Patelco CU - 3.82% ($1K min), account review
• M&T Bank - 3.81% (min $5K) account review
• Element Financial - 3.80% (min $10K), account review
• E-LOAN - 3.75% ($10K min), account review
• Washington Mutual - 3.75% (min $1K), account review
• Flagstar - 3.75% (min $500), account review
• Capital One - 3.75% (min $5K)
• ebank - 3.75% (min $1K), 4.00% for ePremium checking customers
• Doral Bank Direct - 3.70% (min $1K) account review
• Intervest - 3.60% (min $2.5K), account review
• Tennessee Commerce Bank - 3.50% (min $5K)
• H&R Block Bank - 3.50% (min $250) account review
• Transportation Alliance Bank - 3.48% ($1K min)
• EverBank - 3.30% ($1.5K min)
• First State Bank - 3.30% ($1K min), account review
• Countrywide - 3.25% (min $10K)
• IndyMac Bank - 3.25% (min $5K), account review
• VirtualBank - 3.05% (min $10K), account review
• EmigrantDirect - 3.05% (min $1K)
• Self-Help Credit Union - 2.95% (min $500), account review
• ING Direct - 2.75%, account review

60-Month Certificate of Deposit:

• Pentagon Federal CU - 4.75% (min $1K), account review
• University FCU - 4.60% (min $2.5K), account review
• KeyDirect - 4.50% (min $5K), Not all states, account review
• Air Academy FCU - 4.50% (min $10K) account review
• Mountain America CU - 4.40% (min $1K) account review
• iGobanking - 4.30% (min $500), account review
• CU of Georgia - 4.28% (min $50K), account review
• Washington Mutual - 4.25% (min $1K), account review
• Bank of Internet - 4.20% (min $1K) account review
• Northrop Grumman FCU - 4.19% (min $40K), account review
• Discover Bank - 4.18% (min $2.5K)
• GMAC Bank - 4.15% (min $500)
• Melrose CU - 4.11% (min $5K) account review
• M&T Bank - 4.10% (min $5K) account review
• Air Force FCU - 4.10% (min $25K) restrictions to membership, account review
• Lehman Brothers Bank - 4.08% (min $1K)
• USA FCU - 4.07% (min $1K) account review
• Patelco CU - 4.07% ($1K min), account review
• Navy FCU - 4.05% ($20K min) (4.20% for $100K+) restrictions to membership, account review
• Western FCU - 4.02% (min $40K) account review
• Advanta Bank - 4.00% (min $10K), account review
• Delta Community CU - 4.00% (min $1K) account review
• Capital One - 4.00% (min $5K)
• Agriculture FCU - 4.00% (min $1K), account review
• E-LOAN - 3.91% ($10K min), account review
• Flagstar - 3.90% (min $500), account review
• National Bank of KC - 3.85% (min $10K), account review
• EverBank - 3.85% ($1.5K min)
• Intervest - 3.80% (min $2.5K), account review
• Element Financial - 3.80% (min $10K), account review
• Apple Bank - 3.75% (min $500) account review
• Telcom Credit Union - 3.75% (min $500) account review
• ebank - 3.75% (min $1K), 4.00% for ePremium checking customers
• Doral Bank Direct - 3.70% (min $1K) account review
• Tennessee Commerce Bank - 3.50% (min $5K)
• First State Bank - 3.50% ($1K min), account review
• Mutual Bank - 3.50% (min $1K) account review
• H&R Block Bank - 3.50% (min $250) account review
• Transportation Alliance Bank - 3.47% ($1K min)
• UFB Direct - 3.45% (min $8K)
• Presidential Bank - 3.35% (min $1K)
• Countrywide - 3.25% (min $10K)
• IndyMac Bank - 3.25% (min $5K), account review
• ING Direct - 3.25%, account review
• Self-Help Credit Union - 3.22% (min $500), account review
• ETrade Bank - 3.10% (min $1K), account review
• VirtualBank - 3.05% (min $10K), account review
• EmigrantDirect - 3.05% (min $1K)
• AmTrustDirect - 2.50% (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
• Capital One - 4.75% (min $5K) (5% 10yr)
• Navy FCU - 4.15% ($20K min) (4.20% for $100K+) restrictions to membership, account review
• Intervest - 3.82% (min $2.5K), account review
• Countrywide - 3.25% (min $10K)
• EmigrantDirect - 3.05% (min $1K)

High Yield Reward Checking Accounts - Open to All

• 6.01% Reward Checking at Air Academy FCU - $50K Cap
• 6.01% Reward Checking at Heartland Community Bank - $30K Cap
• 6.01% Reward Checking at Citizens Bank - $25K Cap
• 6.01% Reward Checking at Charter Bank - $25K Cap
• 6.01% Reward Checking at First New England FCU - $25K Cap
• 6.00% Reward Checking at Southern Community Bank & Trust - $25K Cap
• 5.09% Reward Checking at Consumers Credit Union - $25K Cap
• 5.01% Reward Checking at Provident Credit Union - $25K Cap
• 5.01% Reward Checking at State Bank of Toledo - $70K Cap
• 5.01% Reward Checking at Coastal FCU - $50K Cap
• 5.01% Reward Checking at Connexus Credit Union - $25K Cap
• 4.44% Reward Checking at First Arkansas Bank & Trust - $50K Cap

Checking and Saving Accounts at Local Banks/Credit Unions

• Local High Yield Reward Checking Accounts
• 4.25% 3-Month Money Market Promo at Amboy (New Jersey)
• 4.00% Checking Account (Florida)
• 3.95% No-Minimum Online Savings Account (New York)
• 3.80% Low-Minimum Online Savings Account (California)
• 3.40% Money Market Account (Utah)

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

• 5.49% 60-Month CD at a Georgia Bank (Carver State)
• 5.17% 60-Month CD at a Missouri CU (Health Care Family)
• 5.10% 60-Month CD at a Illinois/Indiana CU - ASI-Insured Only (Credit Union 1)
• 5.04% 60-Month CD at a Texas CU - Up to 5.31% (Lone Star)
• 4.70% 60-Month CD at a DC Credit Union (Library of Congress)
• 4.65% 60-Month CD at a Washington State Bank (North Cascades National Bank)
• 4.65% 60-Month CD at a California Bank (Pacific State)
• 4.60% 60-Month CD at a Texas CU - Easy Membership (University)
• 4.50% 60-Month CD at a New York Bank (Bank of Utica)
• 4.50% 84-Month CD at a Texas CU (SACU)
• 4.50% 60-Month CD at a Arizona/Texas CU (TruWest)
• 4.47% 60-Month CD at a Miami CU (MPS)
• 4.44% 60-Month CD at a Virginia CU (Northwest)
• 4.33% 60-Month CD at a New York CU (LOMTO)
• 4.30% 60-Month CD at a Arizona CU (First)
• 4.30% 60-Month CD at a Chicago Bank (Cole Taylor)
• 4.25% 60-Month CD at a Illinois Bank (Millennium)
• 4.20% 60-Month CD at a New York City CU - Easy Membership (Montauk)

Terms of 24 Months to Under 60 Months

• 5.50% 24-Month CD at a New York CU (Buffalo Metropolitan)
• 5.10% 24-Month CD at a New Hampshire Credit Union (NHFCU)
• 5.08% 28-Month CD at a New York CU - IRA (Nassau Educators)
• 5.05% 24-Month CD at a Illinois CU - ASI-Insured Only (Abbott Laboratories Employees)
• 4.96% 36-Month CD at a Missouri CU (Health Care Family)
• 4.55% 30-Month CD at a California CU (First Financial)
• 4.52% 36-Month CD at a Texas CU - Up to 5.31% (Lone Star)
• 4.50% 55-Month CD at a Florida Bank (Third Federal Savings & Loan)
• 4.40% 24-Month CD at a DC Credit Union (Library of Congress)
• 4.39% 36-Month CD at a Washington State Bank (North Cascades National Bank)
• 4.25% 36-Month CD at a Central New Jersey CU (United Teletech Financial)
• 4.24% 24-Month CD at a DC Credit Union (Signal Financial)
• 4.21% 49-Month CD at a Pennsylvania CU (Galaxy)
• 4.11% 24-Month CD at a Arizona CU (First)
• 4.00% 55-Month CD at a California CU - IRA (The Golden 1)
• 3.98% 36-Month CD at a Virginia CU (Northwest)
• 3.97% 48-Month CD at a Washington State CU (Group Health)

Terms of 12 Months to Under 24 Months

• 5.00% 12-Month CD at a New Hampshire Credit Union (NHFCU)
• 4.85% 12-Month CD at a Michigan CU (Heartland Employees)
• 4.80% 12-Month CD at a Georgia Bank (Carver State)
• 4.71% 12-Month CD at a New York City Bank (Savoy)
• 4.70% 12-Month CD at a Illinois/Indiana CU - ASI-Insured Only (Credit Union 1)
• 4.65% 18-Month CD at a California CU (First Financial)
• 4.58% 15-Month CD at a Virginia/DC Credit Union (State Department)
• 4.47% 18-Month CD at a Miami CU (MPS)
• 4.40% 21-Month CD at a Pennsylvania CU (Tri Boro)
• 4.40% 12-Month CD at a Arizona/Texas CU (TruWest)
• 4.25% 18-Month CD at a Texas CU (SACU)
• 4.20% 12-Month CD at a Texas CU - Easy Membership (University)
• 4.19% 12-Month CD at a DC Credit Union (Signal Financial)
• 4.18% 12-Month CD at a California CU (Educational Employees)
• 4.15% 12-Month CD at a Houston Credit Union (PrimeWay)
• 4.10% 12-Month CD at a New York City CU - Easy Membership (Montauk)
• 4.07% 12-Month CD at a New York CU (LOMTO)
• 4.00% 15-Month CD at a California CU - IRA (The Golden 1)
• 4.00% 16-Month CD at a Southwest Florida Bank (Liberty)
• 4.00% 15-Month CD at a Chicago Bank (Cole Taylor)
• 3.75% 12-Month CD at a Hawaii Credit Union (Valley Isle Community)
• 3.75% 12-Month CD at a Michigan CU (Family First)
• 3.70% 13-Month CD at a Pennsylvania CU (Galaxy)
• 3.56% 12-Month CD at a Washington State CU (Group Health)

Terms of Under 12 Months

• 5.00% 5-Month CD at a Multi-State CU - $25K Max / Easy Membership (Xerox)
• 5.00% 5-Month CD at a Indiana CU (Fortress)
• 4.75% 3-Month CD at a California Credit Union (California Pacific)
• 4.65% 7-Month CD at a New Jersey Bank - and $150 Checking Bonus (Valley National Bank)
• 4.65% 8-Month CD at a Arizona CU - Up to 5.15% (Canyon State)
• 4.65% 7-Month CD at a New York City Bank - and $150 Checking Bonus (Valley National Bank)
• 4.58% 10-Month CD at a Georgia CU (Georgia's Own)
• 4.55% 6-Month CD at a California Bank (Hanmi)
• 4.39% 7-Month CD at a California Bank (Pacific State)
• 4.35% 6-Month CD at a Michigan CU (Heartland Employees)
• 4.25% 4-Month CD at a Central New Jersey CU (United Teletech Financial)
• 4.00% 6-Month CD at a Illinois Bank (Millennium)
• 4.00% 6-Month CD at a Hawaii Credit Union (Valley Isle Community)
• 4.00% 8-Month CD at a New York CU - Jumbo (Teachers)
• 4.00% 8-Month CD at a Southwest Florida Bank (Liberty)
• 4.00% 6-Month CD at a Houston Credit Union (PrimeWay)
• 4.00% 6-Month CD at a Michigan CU (Family First)
• 4.00% 9-Month CD at a California Bank (County)
• 3.75% 9-Month CD at a Massachusetts Bank (Hyde Park Savings)
• 3.60% 11-Month CD at a Pennsylvania CU (Tri Boro)

Bank Account Alternatives

• Money Magazine article on risk-free investments
• GE Interest Plus - 4.05% rate for $50k+
• Vanguard Prime Money Market Fund - 3.31% 7-day yield
• TIAA-CREF Money Market Fund - 3.31% 7-day yeild
• Fidelity Money Market Fund - 3.30% 7-day yield ($100 bonus and other info)
• Paypal Money Market Fund - 3.28% 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)