Bank Deals Weekly Summary for May 3, 2008

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

As expected, the Fed made a quarter of a percentage point rate cut this week. If economic conditions don't worsen, this may be the last cut. So we could be at a rate bottom. Even though some savings account rates fell this week, many banks began increasing their CD rates. Expectations for higher rates in the future continues to grow (see post).

Savings Accounts Recap

Several banks and credit unions decreased their savings account rates after the Fed rate cut. The rate leader from last month, Alliant Credit Union, reduced the yield on its savings account from 4.35% to 4.00% APY. The second place rate leader, SmartyPig also reduced its savings account yield. It's now 3.90% APY (down from 4.30%). So this places EverBank on top with the intro yield of 4.01% APY. So this places IndyMac's E-Money Market Account on top. [Update 5/4/08: I had used an old Indymac link which still showed 4.05%. Link is now updated.]

Other banks that cut their online savings account yields include Nationwide, Beverly, Amegy, UFB Direct and Grand Yield Direct.

We may have a new savings account leader, but I'm going to hold off this week until we can get more information. On Friday afternoon, I posted on AARP Financial Savings Center which is offering a money market account with a yield of 4.75% APY and a no-minimum savings account with a yield of 4.50% APY. AARP membership is required. The deposits are held by banks and are FDIC insured, but the accounts are managed by a company that's not a bank. It's similar to how UFB Direct is set up (see post).

CD Rates Recap

Many banks on my list increased their CD rates this week. Most increases were on the longer terms, but the increases are making their way to 1-year terms. Some notable new CD rates include GMAC's 4.10% APY 12-month CD, AmTrustDirect's 3.70% APY 12-month CD, iGoBanking's 4.00% APY 24-month CD, Wachovia's 4.75% 60-month CD, E-LOAN's 4.60% APY 60-month CD, Pentagon FCU's 4.50% APY 60-month CD and Capital One's 5.75% APY 10-year Jumbo CD.

Alliant Credit Union cut the rate from 4.40% to 4.15% APY on its $25K certificate for terms of 12 to 17 months. On the positive side, the CD rate for a $1K minimum on terms from 18 to 24 months increased from 3.75% to 4.00% APY.

National City once again extended its 5% 48-month CD promotion (see post).

The best short term CD deal continues to be at Xceed Financial Credit Union which continues to offer a 5% APY 5-month CD with a $25K maximum deposit (see post).

Reward Checking Recap

My list of reward checking accounts available nationwide grew by one this week. Coulee Bank in Wisconsin is allowing out-of-state people to open accounts by mail. It's another 6.01% APY reward checking account with a $25K cap. I first reported on it in August 2007, so it has a track record (see post).

There were two rate drops on the nationwide list this week. West Texas National Bank cut its rate from 6.01% to 5.01% APY, and Connexus Credit Union made yet another cut to its reward checking account. The rate is now down to 3.51% APY. I first reported on Connexus in April 2007. Perhaps this is a sign that these accounts may not be so profitable for the banks over the long term (at least when their rates are so high).

I added 5 more local reward checking accounts this week (see recap below). Most of the new ones are launching with rates of around 5% or below. I'm not seeing many new 6% ones. Two of the ones that I reported on this week have no balance caps which can be very nice for those with large balances. Unfortuantely, the yields are lower (4.25% and 4.01% APY).

For a list of all reward checking accounts (including ones available nationwide), please see my new High Yield Checking website.

Recap for the Week - Links to This Week's Posts

Banking News

• I Bond Fixed Rate Plummets from 1.20% to 0%
• Fed Cuts Rates by 25 Basis Points - The Last Rate Cut?
• WSJ Article - CD Rates Starting to Rise

Savings and Money Market Accounts - National

• 4.75% Money Market Account at AARP Financial Savings Center
• New Alliant Credit Union Savings Account and CD Rates - Down But Still Very Competitive

CD Deals - National

• GMAC Bank Increases CD Rates - New 4.10% 12-Month CD
• Higher Long Term CD Rates at Pentagon FCU
• E-LOAN Raises CD Rates - 4.60% 60-Month CD / 4.10% 36-Month CD
• Update on Wachovia's 4.75% 60-Month Featured CD

Checking/Savings Account Bonuses

• E*TRADE Update - Savings Account Bonus, Financial Health

Reward Checking Accounts

• 5.01% Reward Checking Account at a Missouri CU (First Community)
• 5.01% Reward Checking Account at a New Jersey Bank (The Provident Bank)
• 4.25% Reward Checking Account at a Texas Bank - No Balance Cap (Vintage)
• 4.01% Reward Checking Account at a Virginia Bank - No Balance Cap (EVB)
• 5.01% Reward Checking Account at a Pennsylvania Bank (Malvern Federal Savings)

CD and Money Market Deals - Local

• 3.70% 12-Month / 3.65% 9-Month CD at an Arizona Bank (Community Bank of Arizona)
• 4.00% 25-Month / 3.75% 15-Month CD at a Michigan Bank (Bank of Auburn Hills)
• 4.00% 30-Month CD at a Pennsylvania Bank (Third Federal)
• 3.85% 6-Month CD at a California CU (California Pacific)
• 4.00% 24-Month CD at a Virginia CU - Plus $100 Checking Bonus (Northwest)
• 3.77% 8-Month CD at a Washington State Bank (Raymond Federal)
• 3.50% Money Market Account Guaranteed Until 6/30/08 at Florida Capital Bank
• 3.90% 3-Month / 3.60% 7-Month CD at a California Bank (Vineyard)
• 4.00% 11-Month CD at a TX/LA/MS Credit Union (RiverLand) EXPIRED
• 3.65% 6-Month CD at a Florida / Alabama CU (Pen Air)
• 4.25% 23-Month CD at an Indiana CU (Horizon One)
• 10% 6-Month CD ($2.5K Max) and Other Promos and News at Flagstar Bank

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 Apr 26th, Apr 19th, Apr 12th, Apr 5th, Mar 29th, Mar 22nd, Mar 15th, Mar 8th and Mar 1st.

Quick Links: Refer to the following links for the savings accounts and CDs that interest you: Liquid Account Rates: Savings Accounts, Reward Checking, 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 May 3, 2008

Checking/Savings/Money Market Accounts:

• High Yield Reward Checking Accounts Around the Nation
• Checking/Savings Account Bonuses
• Latest CD and Savings Account Deals with No Major Deposit Limitiations

• EverBank - 4.01% ($1.5K min), 3mo promo, account review
• Indymac Bank - 4.00% (E-Money Market) (min $1K) account review
• Corus Bank - 4.00% MMA (min $10K) account review
• Countrywide - 4.00% (min $10K), account review
• Alliant Credit Union - 4.00% (min $100) account review
• SmartyPig - 3.90% (min $25) access restrictions, account review
• Century Bank Direct - 3.82% MMA (min $1K) account review
• Capital One - 3.75% (Savings) (min $10K)
• Provident Direct - 3.75%, account review
• Flagstar - 3.65% MMA, account review
• Century Bank Direct - 3.61% (min $100) account review
• OneUnited - 3.60% (min $1K), account review ($50 bonus)
• OnBank - 3.49%, account review
• Bank of Internet - 3.46% MMA (min $100) account review
• UmbrellaBank - 3.40% MMA (min $1K), account review
• Bank of Internet - 3.40% Checking, for those 50+, account review
• Amegy Bank - 3.40% (min $10K) account review
• Nationwide Bank - 3.40% MMA (min $1K) account review
• GCF Bank - 3.34% (min $100), 3-mo promo, account review
• WTDirect - 3.31% ($10K min), account review
• ShoreBank - 3.30%, account review
• Washington Mutual - 3.30% (requires checking), account review
• iGObanking - 3.28%, account review
• Savings Square - 3.25%, account review
• Doral Bank Direct - 3.25% (min $1K) account review
• M&T Bank - 3.25%, account review
• AmTrustDirect - 3.25% (e-Savings) account review
• FNBO Direct - 3.25%, account review
• BankUnited - 3.25% (min $5K), account review
• Amboy Direct - 3.25% (min $3K) (eSavings) account review
• Beverly National Bank - 3.25% (min $5K) account review
• CapitalOne/Costco - 3.20% MMA (min $1K, Costco members only, $50 deal for exec. members)
• Discover Bank - 3.14% MMA (min $2.5K) (3.25% for $50K+) account & bonus review
• AmboyDirect - 3.05% (Premium Savings) post ($25 bonus)
• Heartland Bank Direct - 3.05%, ($500 min), account review
• HSBC Direct - 3.05%, account review
• E-LOAN - 3.01% ($5K min), account review
• FirstFedDirect - 3.01% (min $1K) (closed to CA residents), account review
• ETrade Bank - 3.01%, post ($25 bonus)
• UFB Direct - 3.01%, account review
• KeyDirect - 3.00% MMA (min $50), Not all states, account review
• Capital One - 3.00% MMA, account review
• Imperial Capital - 3.00% MMA ($2.5K min) (3.65% for $100K+) account review
• Salem Five Direct - 3.00% Checking (3.50% $100K+), account review
• GMAC Bank - 3.00% MMA (min $500), account review
• Transportation Alliance Bank - 3.00%, ($25 min), account review
• Indymac Bank - 3.00% MMA (min $25K) (4.00% $75K+) account review
• ING Direct - 3.00%, (1.75% checking), post ($25 bonus)
• PFF Bank and Trust - 2.85% (min $1K), account review
• EverBank - 2.76% MMA ($1.5K min) account review
• Mutual Bank - 2.75% MMA (min $5K), account review
• EmigrantDirect - 2.75%, account review
• BancoFortuna.com - 2.75%, account review
• Presidential Bank - 2.75% (min $5K, only first $35K receives this rate), offers 2.10% checking, account review
• grand yield direct - 2.75% (min $2.5K) account review
• Rainier Pacific - 2.70% MMA account review
• Citibank - 2.70% (Ultimate Money) requires chking & bill pay, account review
• UnivestDirect - 2.70%, (1.70% checking), account review
• Direct Huntington - 2.70% ($10K min) (3.00% $100K+), account review
• Self-Help Credit Union - 2.61% MMA (min $500), account review
• MetLife Bank - 2.60% MMA (min $5K), post ($50 bonus)
• Zions Bank - 2.53% MMA, outside of Utah, (min $2.5K) (3.05% $50K+, 3.25% $100K+), account review
• Melrose CU - 2.52% (min $25) account review
• MyBankingDirect - 2.50% MMA (min $5K), account review
• AmTrustDirect - 2.40% (e-Money Market) (2.65% $25K+, 2.90% $50K+) account review
• Bank of America DoW - 2.30% MMA (min $10K) (2.55% for $50K+), account review
• Bank of America NEA - 2.28% MMA ($500 min) (2.54% for $50K+) account review
• Charles Schwab - 2.26% Checking, account review
• VirtualBank - 2.02% (min $100), (2.79% $50K+/ 3.05% $100K+) offers checking, post ($20 bonus)
• ebank - 1.75% MMA ($10K min) (2.50% for $100K+), account review
• Tennessee Commerce Bank - 1.67% (min $10K), account review

3-Month Certificates of Deposit:

• GMAC Bank - 3.50% (min $500), account review
• E-LOAN - 3.30% ($10K min), account review
• ebank - 3.25% (min $1K), 3.50% for ePremium checking customers
• Countrywide - 3.25% (min $10K), account review
• UmbrellaBank - 3.25% (min $1K)
• Imperial Capital - 3.20%, ($2K min), account review
• FirstFedDirect - 3.01% (min $10K), account review
• VirtualBank - 2.99% (min $10K), account review
• Self-Help Credit Union - 2.82% (min $500), account review
• UFB Direct - 2.80% (min $8K)
• EverBank - 2.78% ($1.5K min)
• ETrade Bank - 2.70% (min $1K), account review
• Element Financial - 2.70% (min $10K), account review
• National Bank of KC - 2.50% (min $10K), account review
• IndyMac Bank - 2.50% (min $5K), account review

6-Month Certificates of Deposit:

• Xceed Financial CU - 5.00% (5 mo) (min $500/max $25K) account review
• Corus Bank - 3.75% (min $10K) account review
• Countrywide - 3.75% (min $10K), account review
• Ascencia Bank - 3.66% (min $500), account review
• GMAC Bank - 3.60% (min $500), account review
• Tennessee Commerce Bank - 3.50% (min $5K)
• Doral Bank Direct - 3.50% (min $1K) account review
• E-LOAN - 3.50% ($10K min), account review
• University FCU - 3.40% (min $2.5K), account review
• Imperial Capital - 3.30% ($2K min), account review
• La Jolla Bank - 3.30% (min $10K), account review
• UmbrellaBank - 3.30% (min $1K)
• ING Direct - 3.30%, account review
• Northrop Grumman FCU - 3.27% (min $40K), account review
• FirstFedDirect - 3.25% (min $10K), account review
• ebank - 3.25% (min $1K), 3.50% for ePremium checking customers
• Advanta Bank - 3.20% (min $10K), account review
• Intervest - 3.20% (min $2.5K), account review
• UFB Direct - 3.00% (min $8K)
• Flagstar - 3.00% (min $500), account review
• AmboyDirect - 3.00% (7 mo) (min $10K), account review
• Capital One - 3.00% (min $5K) account review
• Mountain America CU - 3.00% (min $1K) account review
• Bank of Internet - 2.98% (min $1K) account review
• Century Bank Direct - 2.95% (5 mo) (min $1K) account review
• Air Academy FCU - 2.95% (min $10K) restrictions to membership, account review
• Self-Help Credit Union - 2.92% (min $500), account review
• EverBank - 2.91% ($1.5K min)
• Principal Bank - 2.90% (7 mo) (min $5K), account review
• ETrade Bank - 2.80% (min $1K), account review
• VirtualBank - 2.79% (min $10K), account review
• KeyDirect - 2.75% (min $5K), Not all states, account review
• iGObanking - 2.75% (min $500), account review
• Element Financial - 2.75% (min $10K), account review
• Western FCU - 2.75% (min $40K), account review
• Washington Mutual - 2.65% (min $1K), account review
• National Bank of KC - 2.55% (min $10K), account review
• IndyMac Bank - 2.50% (min $5K), account review
• AmTrustDirect - 2.50% (min $1K) account review
• EmigrantDirect - 2.50% (min $1K)
• CU of Georgia - 2.43% (min $50K), account review
• Wells Fargo - 2.40% (5 months) (min $5K), rate and min vary by state, account review
• Lehman Brothers Bank - 2.07% (min $1K)

9-Month Certificates of Deposit:

• GMAC Bank - 3.60% (min $500), account review
• Doral Bank Direct - 3.50% (min $1K) account review
• Imperial Capital - 3.35% ($2K min), account review
• ING Direct - 3.30% account review
• Countrywide - 3.25% (min $10K), account review
• UmbrellaBank - 3.20% (min $1K)
• Century Bank Direct - 3.15% (10 mo) (min $1K) account review
• FirstFedDirect - 3.10% (min $10K), account review
• EverBank - 3.01% ($1.5K min)
• AmTrustDirect - 3.00% (min $1K) account review
• Bank of Internet - 2.98% (min $1K) account review
• Academy Bank - 2.95% (min $500), account review
• Element Financial - 2.80% (min $10K), account review
• VirtualBank - 2.79% (min $10K), account review
• iGObanking - 2.75% (min $500), account review
• National Bank of KC - 2.55% (min $10K), account review
• EmigrantDirect - 2.50% (min $1K)
• IndyMac Bank - 2.40% (min $5K), account review

12-Month Certificates of Deposit:

• IndyMac Bank - 4.15% (min $5K), account review
• Alliant Credit Union - 4.15% (min $25K) account review
• GMAC Bank - 4.10% (min $500), account review
• Countrywide - 4.10% (min $10K), account review
• Patelco Credit Union - 4.07% (min $1K) account review
• State Bank of India - 4.06% (min $5K) account review
• Ascencia Bank - 3.95% (min $500), account review
• Tennessee Commerce Bank - 3.85% (min $5K)
• Zopa - 3.75% (min $500) account review
• Corus Bank - 3.75% (min $10K) account review
• AmTrustDirect - 3.70% (min $1K) account review
• E-LOAN - 3.65% ($10K min), account review
• Advanta Bank - 3.60% (min $10K), account review
• University FCU - 3.60% (min $2.5K), account review
• Pacific Mercantile Bank - 3.55% (min $10K) account review
• Melrose CU - 3.55% (min $5K) account review
• Flagstar - 3.55% (min $500), account review
• Transportation Alliance Bank - 3.54% ($1K min)
• Discover Bank - 3.51% (min $2.5K)
• Mutual Bank - 3.51% (min $1K) account review
• Doral Bank Direct - 3.50% (min $1K) account review
• Huntington - 3.50% (min $2K) account review
• Element Financial - 3.45% (min $10K), account review
• First State Bank - 3.40% ($1K min), account review
• Air Force FCU - 3.35% (min $25K) restrictions to membership, account review
• La Jolla Bank - 3.35% (min $10K), account review
• FirstFedDirect - 3.30%, (min $10K) account review
• ING Direct - 3.30% account review
• iGobanking - 3.28% (min $500), account review
• Northrop Grumman FCU - 3.28% (min $40K), account review
• Imperial Capital - 3.25% ($2K min), account review
• UmbrellaBank - 3.25% (min $1K)
• ebank - 3.25% (min $1K), 3.50% for ePremium checking customers
• Capital One - 3.25% (min $5K) account review
• Intervest - 3.25% (min $2.5K), account review
• Principal Bank - 3.15% (14 mo) (min $5K), account review
• Air Academy FCU - 3.15% (min $10K) membership restrictions, account review
• Mountain America CU - 3.10% (min $1K) account review
• GTE FCU - 3.09% (min $500) account review
• Western FCU - 3.05% (min $40K), account review
• VirtualBank - 3.05% (min $10K), account review
• Delta Community CU - 3.05% (min $1K) account review
• Self-Help Credit Union - 3.02% (min $500), account review
• UFB Direct - 3.00% (min $8K)
• EverBank - 3.00% ($1.5K min)
• Navy FCU - 2.90% ($20K min) (3.05% for $100K+) restrictions to membership, account review
• Academy Bank - 2.90% (min $500), account review
• ETrade Bank - 2.90% (min $1K), account review
• Bank of Internet - 2.86% (min $1K) account review
• Washington Mutual - 2.85% (min $1K), account review
• Apple Bank - 2.75% (min $500) account review
• KeyDirect - 2.75% (min $5K), Not all states, account review
• CU of Georgia - 2.68% (min $50K), account review
• National Bank of KC - 2.60% (min $10K), account review
• EmigrantDirect - 2.50% (min $1K)
• H&R Block Bank - 2.25% (min $250) account review
• Lehman Brothers Bank - 2.12% (min $1K)

18-Month Certificates of Deposit:

• Alliant Credit Union - 4.15% (min $25K) account review
• GMAC Bank - 3.75% (min $500)
• Tennessee Commerce Bank - 3.71% (min $5K)
• Advanta Bank - 3.66% (min $10K), account review
• Discover Bank - 3.56% (min $2.5K)
• Capital One - 3.55% (min $5K) account review
• AmTrustDirect - 3.50% (min $1K) account review
• Element Financial - 3.50% (min $10K), account review
• First State Bank - 3.40% ($1K min), account review
• Intervest - 3.35% (min $2.5K), account review
• Doral Bank Direct - 3.25% (min $1K) account review
• ebank - 3.25% (min $1K), 3.50% for ePremium checking customers
• Flagstar - 3.20% (min $500), account review
• Mountain America CU - 3.15% (min $1K) account review
• Countrywide - 3.00% (min $10K), account review
• EverBank - 3.00% ($1.5K min)
• ETrade Bank - 2.90% (min $1K), account review
• Bank of Internet - 2.86% (min $1K) account review
• Academy Bank - 2.85% (min $500) account review
• VirtualBank - 2.79% (min $10K), account review
• iGObanking - 2.75% (min $500) account review
• National Bank of KC - 2.60% (min $10K), account review
• ING Direct - 2.50%, account review
• EmigrantDirect - 2.50% (min $1K)
• H&R Block Bank - 2.50% (min $250) account review
• IndyMac Bank - 2.35% (min $5K), account review
• Lehman Brothers Bank - 2.17% (min $1K)

24-Month Certificates of Deposit:

• Countrywide - 4.25% (min $10K), account review
• National City Bank - 4.25% (min $10K) 4.00% w/o chk, account review
• Alliant Credit Union - 4.15% (min $25K) account review
• State Bank of India - 4.06% (min $5K) account review
• iGObanking - 4.00% (min $500) account review
• Ascencia Bank - 3.87% (min $500), account review
• GMAC Bank - 3.85% (min $500)
• OnBank - 3.83% (min $500), account review
• E-LOAN - 3.81% ($10K min), account review
• Discover Bank - 3.76% (min $2.5K)
• KeyDirect - 3.75% (min $5K),Not all states, account review
• Capital One - 3.75% (min $5K) account review
• University FCU - 3.75% (min $2.5K), account review
• Tennessee Commerce Bank - 3.71% (min $5K)
• Mutual Bank - 3.70% (min $1K) account review
• Advanta Bank - 3.66% (min $10K), account review
• Transportation Alliance Bank - 3.64% ($1K min)
• Element Financial - 3.60% (min $10K), account review
• Melrose CU - 3.55% (min $5K) account review
• AmTrustDirect - 3.50% (min $1K) account review
• Air Force FCU - 3.45% (min $25K) restrictions to membership, account review
• Intervest - 3.40% (min $2.5K), account review
• Air Academy FCU - 3.35% (min $10K) membership restrictions, account review
• Northrop Grumman FCU - 3.30% (min $40K), account review
• Doral Bank Direct - 3.25% (min $1K) account review
• ebank - 3.25% (min $1K), 3.50% for ePremium checking customers
• Self-Help Credit Union - 3.22% (min $500), account review
• Mountain America CU - 3.20% (min $1K) account review
• Delta Community CU - 3.20% (min $1K) account review
• UFB Direct - 3.15% (min $8K)
• EverBank - 3.10% ($1.5K min)
• Western FCU - 3.08% (min $40K), account review
• Navy FCU - 3.05% ($20K min) (3.20% for $100K+) restrictions to membership, account review
• Flagstar - 3.00% (min $500), account review
• Apple Bank - 3.00% (min $500) account review
• CU of Georgia - 2.94% (min $50K), account review
• VirtualBank - 2.79% (min $10K), account review
• National Bank of KC - 2.70% (min $10K), account review
• Bank of Internet - 2.61% (min $1K) account review
• ING Direct - 2.50% account review
• H&R Block Bank - 2.50% (min $250) account review
• IndyMac Bank - 2.40% (min $5K), account review
• Lehman Brothers Bank - 2.28% (min $1K)
• Presidential Bank - 2.25% (min $1K)

36-Month Certificate of Deposit:

• Countrywide - 4.50% (min $10K), account review
• State Bank of India - 4.32% (min $5K) account review
• GMAC Bank - 4.10% (min $500)
• E-LOAN - 4.10% ($10K min), account review
• Pentagon Federal CU - 4.01% (min $1K), account review
• KeyDirect - 4.00% (min $5K), Not all states, account review
• Capital One - 4.00% (min $5K) account review
• Discover Bank - 4.00% (min $2.5K)
• Ascencia Bank - 3.97% (min $500), account review
• University FCU - 3.95% (min $2.5K), account review
• Melrose CU - 3.80% (min $5K) account review
• Mutual Bank - 3.80% (min $1K) account review
• Advanta Bank - 3.75% (min $10K), account review
• Transportation Alliance Bank - 3.75% ($1K min)
• Intervest - 3.75% (min $2.5K), account review
• Tennessee Commerce Bank - 3.71% (min $5K)
• Element Financial - 3.70% (min $10K), account review
• Agriculture FCU - 3.65% (min $1K), account review
• Air Force FCU - 3.60% (min $25K) restrictions to membership, account review
• Air Academy FCU - 3.55% (min $10K) membership restrictions, account review
• Mountain America CU - 3.51% (min $1K) account review
• Doral Bank Direct - 3.50% (min $1K) account review
• AmTrustDirect - 3.50% (min $1K) account review
• Self-Help Credit Union - 3.50% (min $500), account review
• UFB Direct - 3.40% (min $8K)
• Northrop Grumman FCU - 3.40% (min $40K), account review
• Flagstar - 3.35% (min $500), account review
• EverBank - 3.30% ($1.5K min)
• First State Bank - 3.30% ($1K min), account review
• Delta Community CU - 3.25% (min $1K) account review
• Western FCU - 3.22% (min $40K), account review
• Navy FCU - 3.20% ($20K min) (3.30% for $100K+) restrictions to membership, account review
• CU of Georgia - 3.20% (min $50K), account review
• Principal Bank - 3.20% (33 mo) (min $5K), account review
• Patelco CU - 3.20% ($1K min), account review
• H&R Block Bank - 3.00% (min $250) account review
• ebank - 3.00% (min $1K), 3.25% for ePremium checking customers
• ETrade Bank - 2.95% (min $1K), account review
• Bank of Internet - 2.91% (min $1K) account review
• National Bank of KC - 2.90% (min $10K), account review
• VirtualBank - 2.79% (min $10K), account review
• ING Direct - 2.50%, account review
• EmigrantDirect - 2.50% (min $1K)
• Lehman Brothers Bank - 2.38% (min $1K)

48-Month Certificate of Deposit:

• National City Bank - 5.00% (min $10K) 4.75% w/o chk, account review
• Countrywide - 4.50% (min $10K), account review
• GMAC Bank - 4.35% (min $500)
• Capital One - 4.30% (min $5K) account review
• E-LOAN - 4.25% ($10K min), account review
• KeyDirect - 4.25% (min $5K), Not all states, account review
• M&T Bank - 4.17% (min $5K) account review
• Discover Bank - 4.08% (min $2.5K)
• University FCU - 4.05% (min $2.5K), account review
• Pentagon Federal CU - 4.01% (min $1K), account review
• Advanta Bank - 4.00% (min $10K), account review
• Mountain America CU - 3.90% (min $1K) account review
• Intervest - 3.85% (min $2.5K), account review
• Melrose CU - 3.80% (min $5K) account review
• Element Financial - 3.80% (min $10K), account review
• Transportation Alliance Bank - 3.79% ($1K min)
• Agriculture FCU - 3.75% (min $1K), account review
• Self-Help Credit Union - 3.73% (min $500), account review
• Flagstar - 3.65% (min $500), account review
• Air Academy FCU - 3.65% (min $10K) membership restrictions, account review
• Northrop Grumman FCU - 3.60% (min $40K), account review
• EverBank - 3.53% ($1.5K min)
• Tennessee Commerce Bank - 3.50% (min $5K)
• Navy FCU - 3.50% ($20K min) (3.30% for $100K+) restrictions to membership, account review
• Doral Bank Direct - 3.50% (min $1K) account review
• H&R Block Bank - 3.50% (min $250) account review
• CU of Georgia - 3.45% (min $50K), account review
• Patelco CU - 3.45% ($1K min), account review
• Western FCU - 3.38% (min $40K), account review
• First State Bank - 3.30% ($1K min), account review
• USA FCU - 3.25% (min $1K) account review
• Bank of Internet - 3.21% (min $1K) account review
• Washington Mutual - 3.15% (min $1K), account review
• ebank - 3.00% (min $1K), 3.25% for ePremium checking customers
• National Bank of KC - 2.95% (min $10K), account review
• VirtualBank - 2.79% (min $10K), account review
• ING Direct - 2.50%, account review
• EmigrantDirect - 2.50% (min $1K)
• Lehman Brothers Bank - 2.43% (min $1K)

60-Month Certificate of Deposit:

• KeyDirect - 4.75% (min $5K), Not all states, account review
• Wachovia - 4.75% (min $5K) req chk, account review
• E-LOAN - 4.60% ($10K min), account review
• State Bank of India - 4.58% (min $5K) account review
• Pentagon Federal CU - 4.50% (min $1K), account review
• Countrywide - 4.50% (min $10K), account review
• Capital One - 4.50% (min $5K) account review
• M&T Bank - 4.37% (min $5K) account review
• GMAC Bank - 4.35% (min $500)
• Discover Bank - 4.28% (min $2.5K)
• Navy FCU - 4.25% ($20K min) (4.40% for $100K+) restrictions to membership, account review
• Advanta Bank - 4.25% (min $10K), account review
• University FCU - 4.15% (min $2.5K), account review
• Mountain America CU - 4.11% (min $1K) account review
• Intervest - 4.10% (min $2.5K), account review
• Mutual Bank - 4.10% (min $1K) account review
• Melrose CU - 4.06% (min $5K) account review
• Transportation Alliance Bank - 4.04% ($1K min)
• Washington Mutual - 4.00% (min $1K), account review
• iGobanking - 4.00% (min $500), account review
• Agriculture FCU - 4.00% (min $1K), account review
• Element Financial - 4.00% (min $10K), account review
• Ascencia Bank - 3.97% (min $500), account review
• Self-Help Credit Union - 3.90% (min $500), account review
• UFB Direct - 3.80% (min $8K)
• Flagstar - 3.80% (min $500), account review
• ETrade Bank - 3.75% (min $1K), account review
• Air Force FCU - 3.75% (min $25K) restrictions to membership, account review
• EverBank - 3.75% ($1.5K min)
• Air Academy FCU - 3.75% (min $10K) membership restrictions, account review
• Patelco CU - 3.71% ($1K min), account review
• CU of Georgia - 3.61% (min $50K), account review
• Northrop Grumman FCU - 3.59% (min $40K), account review
• Western FCU - 3.55% (min $40K) account review
• Tennessee Commerce Bank - 3.50% (min $5K)
• Doral Bank Direct - 3.50% (min $1K) account review
• H&R Block Bank - 3.50% (min $250) account review
• Telcom Credit Union - 3.50% (min $500) account review
• Delta Community CU - 3.50% (min $1K) account review
• AmTrustDirect - 3.50% (min $1K) account review
• First State Bank - 3.50% ($1K min), account review
• Bank of Internet - 3.46% (min $1K) account review
• USA FCU - 3.45% (min $1K) account review
• National Bank of KC - 3.05% (min $10K), account review
• ING Direct - 3.00%, account review
• ebank - 3.00% (min $1K), 3.25% for ePremium checking customers
• Apple Bank - 3.00% (min $500) account review
• VirtualBank - 2.79% (min $10K), account review
• EmigrantDirect - 2.50% (min $1K)
• Lehman Brothers Bank - 2.48% (min $1K)
• Presidential Bank - 2.35% (min $1K)

84-Month Certificate of Deposit:

• Capital One - 5.25% (min $5K) (5.50% 7yr / 5.75% 10yr for $100K+) account review
• KeyDirect - 5.00% (min $5K) (5% 10yr) Not all states, account review
• Navy FCU - 5.00% ($20K min) restrictions to membership, account review
• Pentagon Federal CU - 4.51% (min $1K), account review
• Intervest - 4.12% (min $2.5K), account review
• Countrywide - 3.00% (min $10K), account review
• EmigrantDirect - 2.50% (min $1K)

High Yield Reward Checking Accounts - Open to All

• 6.01% Reward Checking at Coulee Bank - $25K 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
• 6.01% Reward Checking at Golden Plains Credit Union - $25K Cap
• 6.01% Reward Checking at Arizona Bank & Trust - $20K Cap
• 6.00% Reward Checking at Southern Community Bank & Trust - $25K Cap
• 5.09% Reward Checking at Consumers Credit Union - $25K Cap
• 5.06% Reward Checking at Heartland Community Bank - $30K Cap
• 5.01% Reward Checking at West Texas National Bank - $25K Cap
• 5.01% Reward Checking at Coastal FCU - $50K Cap
• 4.44% Reward Checking at First Arkansas Bank & Trust - $50K Cap
• 4.01% Reward Checking at State Bank of Toledo - $70K Cap
• 4.01% Reward Checking at Provident Credit Union - $25K Cap
• 3.51% Reward Checking at Connexus Credit Union - $25K Cap

Checking and Saving Accounts at Local Banks/Credit Unions

• Local High Yield Reward Checking Accounts Ordered by States
• Local High Yield Reward Checking Accounts
• 4.25% 3-Month Money Market Promo at Amboy (New Jersey)
• 3.25% Checking Account (Florida)
• 3.05% Money Market Account (Utah)
• 3.05% No-Minimum Online Savings Account (New York)
• 2.95% Low-Minimum Online Savings Account (California)

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

• 4.65% 60-Month CD at a Colorado Bank (New Frontier)
• 4.50% 60-Month CD at a Washington State Bank (Cashmere Valley)
• 3.95% 60-Month CD at a Texas Credit Union (SACU)

Terms of 24 Months to Under 60 Months

• 5.00% 36-Month CD at a New Hampshire Credit Union (NHFCU)
• 4.25% 48-Month CD at a Florida Bank (Sunshine Savings)
• 4.00% 24-Month CD at a Massachusetts CU (Greylock)
• 4.00% 24-Month CD at a Virginia CU - Plus $100 Checking Bonus (Northwest)
• 4.00% 30-Month CD at a Pennsylvania Bank (Third Federal)
• 4.00% 25-Month CD at a Michigan Bank (Bank of Auburn Hills)
• 3.85% 24-Month CD at a Texas Credit Union (SACU)

Terms of 12 Months to Under 24 Months

• 7.50% 12-Month CD at a California CU - $1K Max - Also a $100 Checking Bonus (Meriwest)
• 4.50% 12-Month CD at a Colorado Bank (New Frontier)
• 4.25% 12-Month CD at a New Hampshire Credit Union (NHFCU)
• 4.25% 23-Month CD at a Indiana CU (Horizon One)
• 4.00% 15-Month CD at a Florida Bank (Sunshine Savings)
• 3.95% 12-Month CD at a Washington State Bank (Cashmere Valley)
• 3.75% 15-Month CD at a Michigan Bank (Bank of Auburn Hills)
• 3.70% 12-Month CD at a Arizona Bank (Community Bank of Arizona)
• 3.67% 12-Month CD at a New York City Bank (Savoy)
• 3.50% 23-Month CD at a South Florida CU (BrightStar)

Terms of Under 12 Months

• 10% 6-Month CD ($2.5K Cap) at Flagstar Bank in MI/GA/IN
• 5.00% 9-Month CD at a Michigan CU - $20K Max (Dort Federal Credit Union)
• 5.00% 6-Month CD at a Hawaii Credit Union (Maui County Employees')
• 4.40% 5-Month CD at a Oregon CU (Advantis)
• 4.20% 10-Month CD at a Oregon CU (Advantis)
• 4.15% 10-Month CD at a Multi-State CU (Chevron)
• 4.00% 9-Month CD at a Georgia Bank (Alpha Bank & Trust)
• 3.90% 3-Month CD at a California Bank (Vineyard)
• 3.88% 5-Month CD at a SoCal Bank (Golden Coast)
• 3.85% 5-Month CD at a South Florida CU (BrightStar)
• 3.85% 6-Month CD at a California CU (California Pacific)
• 3.77% 8-Month CD at a Washington State Bank (Raymond Federal)
• 3.70% 9-Month CD at a South Florida Bank (Great Florida)
• 3.68% 3-Month CD at a SoCal Bank (Golden Coast)
• 3.65% 6-Month CD at a Florida / Alabama CU (Pen Air)
• 3.65% 9-Month CD at a Arizona Bank (Community Bank of Arizona)
• 3.60% 5-Month CD at a Missouri Bank (St. Louis)
• 3.60% 3-Month CD at a Missouri Bank (St. Louis)
• 3.60% 7-Month CD at a California Bank (Vineyard)
• 3.56% 6-Month CD at a New York City Bank (Savoy)
• 3.50% 4-Month CD at a South Florida Bank (Great Florida)

Bank Account Alternatives

• Money Magazine article on risk-free investments
• GE Interest Plus - 3.30% rate for $50k+
• Fidelity Money Market Fund - 2.66% 7-day yield ($100 bonus and other info)
• Paypal Money Market Fund - 2.61% 7-day yield (1% cashback debit MasterCard)
• TIAA-CREF Money Market Fund - 2.53% 7-day yeild
• Vanguard Prime Money Market Fund - 2.41% 7-day yield
• FW Thread on Treasury Bills
• I Bonds for 2008, I Bond Article, I Bonds as CD Alternatives

Historical Rates from the Federal Reserve (Federal funds, Treasury bills, CD's)

[Edit 5/4/08: Updated link and yield for Indymac's e-Money Market. The old link was still showing 4.05% apy rather than 4.00% apy.]