Bank Deals Weekly Summary for May 31, 2008

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

There were several signs this week that this low-rate environment may not last too much longer. Of course inflation is being felt by everyone, and there's no sign of it improving. This was noted by the FOMC member, Richard Fisher, in a Wednesday speech who said the Fed is likely to change its monetary policy "sooner rather than later" if inflation expectations worsen. On Thursday the U.S. Commerce Department revised upward its earlier projections for first-quarter growth in the country's GDP. As this MarketWatch article describes, future traders are now expecting the Fed to start raising rates in October.

The expectations for higher rates later this year can be seen in the CD rate changes in recent weeks. Long term CD rates continue to go up. So you might want to resist some of those high long term rates and stick with short term CDs. If you still want some long term CDs, be sure to check on the early withdrawal penalties and avoid those with penalties more than 6 months of interest.

Savings Account Rates Recap

With rates expected to increase, savings accounts become more attractive. Unfortunately, you are going to have to live for awhile with some low rates. We saw more online banks this week cut their savings account rates.

There were hopes that the 4.75% and 4.50% yields at AARP Financial Savings Center would last for awhile, but that ended for new customers last week. It appeared that existing members would continue to receive the original yields for several weeks. Unfortunately, that turned into one week. The new yields for existing members went down by 35 basis points yesterday. They're now 4.35% APY for the Jumbo money market and 4.15% APY for the savings account. The yield for new customers remains at 4.05% APY for both accounts (see post).

Alliant Credit Union's savings account is now back near the top of my list with a yield of 4.00% APY. At the start of each month, Alliant updates the savings account rate. Some readers have mentioned being told that it's scheduled to remain at 4% APY. I tried to confirm that with my Alliant contact yesterday and with a CSR today, but I wasn't able to confirm it. The CSR said that the new rate (hopefully not a lower rate) will be posted on Monday. Please see my Alliant CU post for more details about Alliant Credit Union and its savings account.

Some of the other online savings accounts with rate cuts this week included:

• Capital One's Online Savings Account (3.50% APY, was 3.75%)
• Indymac's E-Money Market Account (3.85% APY, was 4.00%)
• Corus Bank's money market account (3.80% APY, was 4.00%)
• Flagstar's money market account (3.50% APY, was 3.65%)
• AmTrustDirect's e-Savings account (2.50% APY, was 2.75%)

I'm disappointed in seeing yet another cut at AmTrustDirect. It had maintained a 3.25% APY for awhile, and I had hoped it would continue to be a rate leader. It looks like AmTrustDirect is now changing its focus to CDs. Like many banks, they're probably betting on higher rates in the near future.

Long-term CD Rates and Early Withdrawal Penalties

Another bank started offering a 5% CD this week. It's US Bank with a 5% APY 59-month CD. The main problem with US Bank is its severe early withdrawal penalty which is equal to at least the interest for half of the term. Instead of the typical 6-month interest penalty, this 59-month CD penalty would be at least 29.5 months of interest (see post).

Like US Bank, KeyDirect is also offering a 5% APY 5-year CD. Its early withdrawal penalty is better, but it's still larger than the average with a penalty of 12 months of interest (see post).

The long term CD rates are under 5%, but these banks have an early withdrawal penalty of only 6 months of interest:Discover Bank with yields up to 4.86% APY for AAA members (see post), Wachovia with a 4.75% APY 60-month CD (see post) and E-LOAN with a 4.75% APY 60-month CD (see post).

Short Term CD Rates

Some short term CD rates have also gone up although there are still very few at or above 4% APY. The highest yield continues to be at Christian Community Credit Union with a 4% APY 7-month new-member CD special. Note, it's only privately insured by ASI, and is not NCUA insured (see post). If you want good CD rates from a FDIC-insured bank and a bank that's financially strong, Metropolitan Bank is an option. It has a 3.50% APY on its 3, 6 and 12-month CDs (see post). The 3.50% APY is the highest on my list for 3-month terms.

Indymac changed its internet CD special this week from a 12-month to a 10-month 4.05% APY CD. AmTrustDirect raised its short term CDs this week as it lowered its e-Savings Account rate. It has the highest 9-month CD yield on my list with a yield of 3.76% APY. For a 12-month term, Alliant Credit Union continues to offer the best deal with a 4.15% APY yield for deposits of at least $25K (see post). Note, with June starting tomorrow, there might be a rate change on Monday.

I posted on a few local deals this week with short term CD rates around 4% (see below). Local banks and credit unions often have special CDs with rates higher than the online banks. I try to post on as many of these as I can. If you see any advertised in your local area, please leave a comment in my finding-the-best rates post. I upgraded this post last week so that summaries of the latest comments are shown on top. Click on the link, and it'll take you to the full comments.

Reward Checking Account Recap

I added 4 more reward checking accounts this week (see recap below). Only one has a six percent yield. First New England FCU, one of the institutions with a reward checking account available nationwide, lowered its rate this week from 6.01% to 5.15% APY. Even though there are fewer 6% accounts, these reward checking accounts continue to have considerably higher rates than the rates from online savings accounts. This has continued now for over a year at many banks and credit unions. So perhaps this can be maintained for the long term.

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

• Fourth Bank Failure of 2008 - Small Minnesota Bank, First Integrity
• Navy Federal Credit Union Updates - Eligibility and My Recent CD Issues
• ING Direct's New Security Software
• Brokered CD Depositors of Failed ANB Financial Having to Wait
• Fee Refunds and Hold Times at Bank of America
• Finding the Best Bank Rates and Deals #10

CD Deals - National

• High Local CD Rates at Countrywide Bank
• 3.50% 3 to 12-Month CDs and $200 Checking Bonus at Metropolitan National Bank
• Update on National City's CD Specials

Checking/Savings Account Bonuses

• $150 Citibank Checking Account Bonus
• $150 Checking Account Bonus at a Maryland Bank (The Columbia)
• $101 Checking Account Bonus at a DC Credit Union (Signal Financial)

Reward Checking Accounts

• 3.50% Reward Checking Account at a Georgia Bank - Rate Guaranteed to 12/31/08 (Cornerstone)
• 4.25% Reward Checking Account at an Oklahoma Bank (First National)
• 5.67% Reward Checking Account at an Oregon CU (Central Willamette Community)
• 6.01% Reward Checking Account at a Colorado Bank (Summit Bank and Trust)

CD and Money Market Deals - Local

• 4.00% 4-Month CD at a New York Credit Union (Advantage)
• 4.00% 25-Month / 3.75% 15-Month CD at a Texas Bank (Patriot)
• 4.00% 24-Month / 3.50% 9-Month CD at a New York CU (Bethpage)
• 4.00% 15-Month CD at a Nevada CU (WestStar)
• 4.00% 9-Month CD at a Georgia Bank (Cornerstone)
• 4.25% 15-Month CD at a GA/TN/NC Bank (United Community).
• 4.86% 60-Month / 4.08% 24-Month CD at Discover Bank
• 4.00% 17-Month CD at a Florida Bank (TIB)
• 4.00% Money Market Account Guaranteed Through 2008 at a GA/NC/SC/AL Bank (Woodlands)
• 4.33% 36-Month / 4.59% 48-Month CD at a New Jersey CU (Garden Savings)
• 4.00% 24-Month CD at an Ohio Bank (Firstmerit)
• 3.75% 7-Month CD at a Michigan CU (Superior Iron Range Community)
• 3.75% 12-Month / 3.50% 6-Month CD at a Texas Bank (Equity)
• 3.73% 9-Month / 4.25% 23-Month CD at First Commercial Bank of Florida
• 3.60% 9-Month CD at a Chicago Bank (Builders Bank)
• 3.71% 6-Month / 3.76% 12-Month CD at a Virginia CU (DuPoint Community).
• 3.60% 6-Month / 3.65% 12-Month CD at a Washington State CU (HAPO Community)
• 3.65% 5-Month CD at a California CU - Add-On Feature (SchoolsFirst)
• 4.00% 18-Month / 3.75% 12-Month CD at a Florida Bank (AmTrust )
• 4.05% 7-Month / 4.05% 12-Month CD at a California Bank (Vineyard)
• 3.00% Checking Account at a Tennessee Bank (American Trust)

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 May 24th, May 17th, May 10th, May 3rd, Apr 26th, Apr 19th, Apr 12th, Apr 5th and Mar 29th.

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 31, 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

• AARP Financial Savings Center - 4.05%, AARP membership req, account review
• EverBank - 4.01% ($1.5K min), 3mo promo, account review
• Alliant Credit Union - 4.00% (min $100) account review
• SmartyPig - 3.90% (min $25) access restrictions, account review
• Indymac Bank - 3.85% (E-Money Market) (min $1K) account review
• Countrywide - 3.80% (min $10K), account review
• Corus Bank - 3.80% MMA (min $10K) account review
• E-LOAN - 3.75%, new account promo, ($5K min), account review
• OneUnited - 3.60% (min $1K), account review ($50 bonus)
• Century Bank Direct - 3.57% MMA (min $1K) account review
• Provident Direct - 3.50%, account review
• Flagstar - 3.50% MMA, account review
• Capital One - 3.50% (Savings) (min $10K) account review
• OnBank - 3.49%, account review
• Bank of Internet - 3.46% MMA (min $100) account review
• Amegy Bank - 3.46% (min $10K) account review
• Century Bank Direct - 3.41% (min $100) account review
• UmbrellaBank - 3.40% MMA (min $1K), account review
• Bank of Internet - 3.40% Checking, for those 50+, account review
• Century Bank Direct - 3.35% Checking (min $100) account review
• GCF Bank - 3.34% (min $100), 3-mo promo, account review
• ShoreBank - 3.30%, account review
• Washington Mutual - 3.30% (requires checking), account review
• iGObanking - 3.28%, account review
• Nationwide Bank - 3.25% MMA (min $1K) account review
• Doral Bank Direct - 3.25% (min $1K) account review
• M&T Bank - 3.25%, account review
• FNBO Direct - 3.25%, account review
• Amboy Direct - 3.25% (min $3K) (eSavings) account review
• CapitalOne/Costco - 3.20% MMA (min $1K, Costco members only, $50 deal for exec. members)
• WTDirect - 3.16% ($10K min), account review
• ETrade Bank - 3.15%, post ($25 bonus)
• Beverly National Bank - 3.10% (min $5K) account review
• Savings Square - 3.05%, account review
• AmboyDirect - 3.05% (Premium Savings) post ($25 bonus)
• Heartland Bank Direct - 3.05%, ($500 min), account review
• HSBC Direct - 3.05%, account review
• Discover Bank - 3.04% MMA (min $2.5K) (3.14% for $50K+) account review
• E-LOAN - 3.01% ($5K min), account review
• FirstFedDirect - 3.01% (min $1K) (closed to CA residents), account review
• UFB Direct - 3.01%, account review
• BankUnited - 3.00% (min $5K), 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)
• UnivestDirect - 3.00%, (1.75% checking), account review
• MetLife Bank - 2.85% MMA (min $10K), post ($50 bonus)
• 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
• grand yield direct - 2.75% (min $2.5K) account review
• Direct Huntington - 2.70% ($10K min) (3.00% $100K+), account review
• Citibank - 2.65% (Ultimate Money) requires chking & bill pay, account review
• Self-Help Credit Union - 2.61% MMA (min $500), account review
• Presidential Bank - 2.60% (min $5K, only first $35K receives this rate), offers 2.00% checking, account review
• 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
• PFF Bank and Trust - 2.50% (min $1K), account review
• MyBankingDirect - 2.50% MMA (min $5K), account review
• AmTrustDirect - 2.50% (e-Savings) account review
• Bank of America DoW - 2.40% MMA (min $5K), account review
• Rainier Pacific - 2.25% MMA account review
• Bank of America NEA - 2.19% MMA ($500 min) (2.45% for $50K+) account review
• Charles Schwab - 2.01% Checking, account review
• Tennessee Commerce Bank - 1.94% (min $10K), account review
• VirtualBank - 1.77% (min $100), (2.53% $50K+/ 2.79% $100K+) post ($20 bonus)
• AmTrustDirect - 1.75% (e-Money Market) (2.00% $25K+, 2.25% $50K+) account review
• ebank - 1.75% MMA ($10K min) (2.50% for $100K+), account review

3-Month Certificates of Deposit:

• Metropolitan Bank - 3.50% ($2.5K min), account review
• E-LOAN - 3.46% ($10K min), account review
• GMAC Bank - 3.35% (min $500), account review
• Imperial Capital - 3.30%, ($2K 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)
• FirstFedDirect - 3.01% (min $10K), account review
• VirtualBank - 2.99% (min $10K), account review
• Element Financial - 2.80% (min $10K), account review
• EverBank - 2.78% ($1.5K min)
• Self-Help Credit Union - 2.72% (min $500), account review
• UFB Direct - 2.70% (min $8K)
• ETrade Bank - 2.50% (min $1K), 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:

• Christian Community CU - 4.00% (7-mo) (min $500) not NCUA insured (ASI only) account review
• Corus Bank - 3.70% (min $10K) account review
• Ascencia Bank - 3.66% (min $500), account review
• E-LOAN - 3.66% ($10K min), account review
• Countrywide - 3.65% (min $10K), account review
• AmTrustDirect - 3.51% (min $1K) account review
• Imperial Capital - 3.50% ($2K min), account review
• Doral Bank Direct - 3.50% (min $1K) account review
• Metropolitan Bank - 3.50% ($2.5K min), account review
• Northrop Grumman FCU - 3.47% (min $40K), account review
• GMAC Bank - 3.45% (min $500), account review
• Tennessee Commerce Bank - 3.40% (min $5K)
• UmbrellaBank - 3.35% (min $1K)
• University FCU - 3.30% (min $2.5K), account review
• La Jolla Bank - 3.30% (min $10K), account review
• ING Direct - 3.30%, 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 - 3.15% (min $2.5K), account review
• Element Financial - 3.00% (min $10K), account review
• ETrade Bank - 3.00% (min $1K), account review
• EverBank - 3.00% ($1.5K min)
• 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 - 2.99% (min $1K) account review
• Self-Help Credit Union - 2.97% (min $500), account review
• Air Academy FCU - 2.95% (min $10K) restrictions to membership, account review
• CU of Georgia - 2.94% (min $50K), account review
• UFB Direct - 2.80% (min $8K)
• VirtualBank - 2.79% (min $10K), account review
• Century Bank Direct - 2.75% (5 mo) (min $1K) account review
• iGObanking - 2.75% (min $500), account review
• Principal Bank - 2.75% (7 mo) (min $5K), account review
• Western FCU - 2.68% (min $40K), account review
• KeyDirect - 2.65% (min $5K), Not all states, 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
• EmigrantDirect - 2.50% (min $1K)
• 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:

• IndyMac Bank - 4.05% (10 mo) (min $5K), account review
• AmTrustDirect - 3.76% (min $1K) account review
• E-LOAN - 3.75% ($10K min), account review
• Imperial Capital - 3.70% ($2K min), account review
• GMAC Bank - 3.55% (min $500), account review
• Doral Bank Direct - 3.50% (min $1K) account review
• ING Direct - 3.30% account review
• Countrywide - 3.25% (min $10K), account review
• UmbrellaBank - 3.20% (min $1K)
• Element Financial - 3.15% (min $10K), account review
• Century Bank Direct - 3.11% (10 mo) (min $1K) account review
• EverBank - 3.10% ($1.5K min)
• FirstFedDirect - 3.10% (min $10K), account review
• Bank of Internet - 2.99% (min $1K) account review
• Academy Bank - 2.95% (min $500), 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)

12-Month Certificates of Deposit:

• Alliant Credit Union - 4.15% (min $25K) account review
• E-LOAN - 3.95% ($10K min), account review
• Countrywide - 3.95% (min $10K), account review
• Ascencia Bank - 3.87% (min $500), account review
• State Bank of India - 3.80% (min $5K) account review
• AmTrustDirect - 3.77% (min $1K) account review
• Corus Bank - 3.76% (min $10K) account review
• Imperial Capital - 3.75% ($2K min), account review
• Zopa - 3.75% (min $500) account review
• Tennessee Commerce Bank - 3.75% (min $5K)
• Flagstar - 3.74% (min $500), account review
• Pacific Mercantile Bank - 3.66% (min $10K) account review
• GMAC Bank - 3.65% (min $500), account review
• Northrop Grumman FCU - 3.60% (min $40K), account review
• Advanta Bank - 3.60% (min $10K), account review
• M&T Bank - 3.59% (min $5K) account review
• UmbrellaBank - 3.55% (min $1K)
• Melrose CU - 3.55% (min $5K) account review
• Transportation Alliance Bank - 3.54% ($1K min)
• Mutual Bank - 3.51% (min $1K) account review
• Doral Bank Direct - 3.50% (min $1K) account review
• Huntington - 3.50% (min $2K) account review
• Metropolitan Bank - 3.50% ($2.5K min), account review
• La Jolla Bank - 3.45% (min $10K), account review
• University FCU - 3.45% (min $2.5K), account review
• Element Financial - 3.45% (min $10K), account review
• First State Bank - 3.40% ($1K min), account review
• Discover Bank - 3.35% (min $2.5K) account review
• Bank of Internet - 3.35% (min $1K) account review
• FirstFedDirect - 3.30%, (min $10K) account review
• ING Direct - 3.30% account review
• ETrade Bank - 3.30% (min $1K), account review
• iGobanking - 3.28% (min $500), account review
• Self-Help Credit Union - 3.26% (min $500), account review
• Air Force FCU - 3.25% (min $25K) restrictions to membership, account review
• 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
• Air Academy FCU - 3.15% (min $10K) membership restrictions, account review
• EverBank - 3.10% ($1.5K min)
• Mountain America CU - 3.10% (min $1K) account review
• GTE FCU - 3.09% (min $500) account review
• VirtualBank - 3.05% (min $10K), account review
• Delta Community CU - 3.05% (min $1K) account review
• CU of Georgia - 3.04% (min $50K), account review
• KeyDirect - 3.00% (min $5K), Not all states, account review
• Western FCU - 3.00% (min $40K), account review
• Principal Bank - 3.00% (14 mo) (min $5K), account review
• Navy FCU - 2.90% ($20K min) (3.05% for $100K+) restrictions to membership, account review
• Academy Bank - 2.90% (min $500), account review
• Washington Mutual - 2.85% (min $1K), account review
• UFB Direct - 2.80% (min $8K)
• H&R Block Bank - 2.75% (min $250) account review
• Apple Bank - 2.75% (min $500) account review
• IndyMac Bank - 2.65% (min $5K), account review
• National Bank of KC - 2.60% (min $10K), account review
• EmigrantDirect - 2.50% (min $1K)
• Lehman Brothers Bank - 2.12% (min $1K)

18-Month Certificates of Deposit:

• Alliant Credit Union - 4.15% (min $25K) account review
• National City Bank - 4.00% (min $10K) 3.75% w/o chk, account review
• Mutual Bank - 4.00% (min $1K) account review
• AmTrustDirect - 3.82% (min $1K) account review
• Discover Bank - 3.81% (min $2.5K), account review
• M&T Bank - 3.78% (min $5K) account review
• GMAC Bank - 3.75% (min $500) account review
• Tennessee Commerce Bank - 3.75% (min $5K)
• Advanta Bank - 3.66% (min $10K), account review
• Capital One - 3.55% (min $5K) 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
• Bank of Internet - 3.35% (min $1K) account review
• ETrade Bank - 3.30% (min $1K), account review
• EverBank - 3.28% ($1.5K min)
• 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
• Academy Bank - 2.85% (min $500) account review
• VirtualBank - 2.79% (min $10K), account review
• IndyMac Bank - 2.75% (min $5K), account review
• H&R Block Bank - 2.75% (min $250) 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)
• Lehman Brothers Bank - 2.17% (min $1K)

24-Month Certificates of Deposit:

• Alliant Credit Union - 4.15% (min $25K) account review
• GMAC Bank - 4.10% (min $500) account review
• State Bank of India - 4.06% (min $5K) account review
• Discover Bank - 4.02% (min $2.5K) account review
• Ascencia Bank - 4.01% (min $500), account review
• KeyDirect - 4.00% (23 mo) (min $5K),Not all states, account review
• Capital One - 4.00% (min $5K) account review
• iGObanking - 4.00% (min $500) account review
• National City Bank - 4.00% (min $10K) 3.75% w/o chk, account review
• E-LOAN - 3.97% ($10K min), account review
• OnBank - 3.96% (min $500), account review
• M&T Bank - 3.87% (min $5K) account review
• Tennessee Commerce Bank - 3.80% (min $5K)
• Countrywide - 3.75% (min $10K), account review
• 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
• Northrop Grumman FCU - 3.60% (min $40K), account review
• Self-Help Credit Union - 3.55% (min $500), account review
• University FCU - 3.55% (min $2.5K), account review
• Melrose CU - 3.55% (min $5K) account review
• Intervest - 3.50% (min $2.5K), account review
• AmTrustDirect - 3.50% (min $1K) account review
• EverBank - 3.49% ($1.5K min)
• Air Force FCU - 3.35% (min $25K) restrictions to membership, account review
• Air Academy FCU - 3.35% (min $10K) membership restrictions, account review
• Bank of Internet - 3.35% (min $1K) account review
• Doral Bank Direct - 3.25% (min $1K) account review
• ebank - 3.25% (min $1K), 3.50% for ePremium checking customers
• CU of Georgia - 3.25% (min $50K), account review
• Mountain America CU - 3.20% (min $1K) account review
• Delta Community CU - 3.20% (min $1K) account review
• Navy FCU - 3.05% ($20K min) (3.20% for $100K+) restrictions to membership, account review
• UFB Direct - 3.05% (min $8K)
• Western FCU - 3.04% (min $40K), account review
• Flagstar - 3.00% (min $500), account review
• Apple Bank - 3.00% (min $500) account review
• VirtualBank - 2.79% (min $10K), account review
• IndyMac Bank - 2.75% (min $5K), account review
• H&R Block Bank - 2.75% (min $250) account review
• National Bank of KC - 2.70% (min $10K), account review
• ING Direct - 2.50% account review
• Lehman Brothers Bank - 2.28% (min $1K)
• Presidential Bank - 2.25% (min $1K)

36-Month Certificate of Deposit:

• National City Bank - 4.75% (min $10K) 4.50% w/o chk, account review
• State Bank of India - 4.32% (min $5K) account review
• Discover Bank - 4.26% (min $2.5K) account review
• E-LOAN - 4.25% ($10K min), account review
• GMAC Bank - 4.20% (min $500) account review
• M&T Bank - 4.16% (min $5K) account review
• Capital One - 4.10% (min $5K) (4.35% $100K+) account review
• Pentagon Federal CU - 4.01% (min $1K), account review
• KeyDirect - 4.00% (min $5K), Not all states, account review
• Ascencia Bank - 3.97% (min $500), account review
• Countrywide - 3.95% (min $10K), account review
• Self-Help Credit Union - 3.92% (min $500), account review
• Tennessee Commerce Bank - 3.85% (min $5K)
• Intervest - 3.80% (min $2.5K), account review
• Melrose CU - 3.80% (min $5K) account review
• Mutual Bank - 3.80% (min $1K) account review
• ETrade Bank - 3.75% (min $1K), account review
• University FCU - 3.75% (min $2.5K), account review
• Advanta Bank - 3.75% (min $10K), account review
• Transportation Alliance Bank - 3.75% ($1K min)
• Element Financial - 3.70% (min $10K), account review
• Northrop Grumman FCU - 3.66% (min $40K), 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
• EverBank - 3.52% ($1.5K min)
• Mountain America CU - 3.51% (min $1K) account review
• Agriculture FCU - 3.50% (min $1K), account review
• Doral Bank Direct - 3.50% (min $1K) account review
• AmTrustDirect - 3.50% (min $1K) account review
• Flagstar - 3.35% (min $500), account review
• CU of Georgia - 3.35% (min $50K), account review
• Bank of Internet - 3.35% (min $1K) account review
• UFB Direct - 3.30% (min $8K)
• First State Bank - 3.30% ($1K min), account review
• National Bank of KC - 3.25% (min $10K), account review
• Delta Community CU - 3.25% (min $1K) account review
• Navy FCU - 3.20% ($20K min) (3.30% for $100K+) restrictions to membership, account review
• Principal Bank - 3.20% (33 mo) (min $5K), account review
• Patelco CU - 3.20% ($1K min), account review
• Western FCU - 3.19% (min $40K), account review
• H&R Block Bank - 3.00% (min $250) account review
• ebank - 3.00% (min $1K), 3.25% for ePremium checking customers
• 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 - 4.75% (min $10K) 4.50% w/o chk, account review
• Discover Bank - 4.57% (min $2.5K) account review
• E-LOAN - 4.55% ($10K min), account review
• Capital One - 4.50% (min $5K) (4.75% $100K+) account review
• GMAC Bank - 4.40% (min $500) account review
• M&T Bank - 4.39% (min $5K) account review
• KeyDirect - 4.25% (min $5K), Not all states, account review
• Countrywide - 4.20% (min $10K), account review
• Self-Help Credit Union - 4.16% (min $500), account review
• Melrose CU - 4.06% (min $5K) account review
• EverBank - 4.02% ($1.5K min)
• Pentagon Federal CU - 4.01% (min $1K), account review
• Washington Mutual - 4.00% (min $1K), account review
• Advanta Bank - 4.00% (min $10K), account review
• Intervest - 3.90% (min $2.5K), account review
• Mountain America CU - 3.90% (min $1K) account review
• University FCU - 3.87% (min $2.5K), account review
• Element Financial - 3.80% (min $10K), account review
• Tennessee Commerce Bank - 3.80% (min $5K)
• Transportation Alliance Bank - 3.79% ($1K min)
• Northrop Grumman FCU - 3.77% (min $40K), account review
• Agriculture FCU - 3.70% (min $1K), account review
• Air Academy FCU - 3.65% (min $10K) membership restrictions, account review
• Flagstar - 3.64% (min $500), account review
• CU of Georgia - 3.56% (min $50K), account review
• National Bank of KC - 3.50% (min $10K), account review
• Navy FCU - 3.50% ($20K min) restrictions to membership, account review
• Doral Bank Direct - 3.50% (min $1K) account review
• H&R Block Bank - 3.50% (min $250) account review
• Patelco CU - 3.45% ($1K min), account review
• Bank of Internet - 3.41% (min $1K) account review
• Western FCU - 3.39% (min $40K), account review
• First State Bank - 3.30% ($1K min), account review
• USA FCU - 3.25% (min $1K) account review
• ebank - 3.00% (min $1K), 3.25% for ePremium checking customers
• 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:

• US Bank - 5.00% (min $1K), Not all states, account review
• KeyDirect - 5.00% (min $5K), Not all states, account review
• State Bank of India - 4.84% (min $5K) account review
• Discover Bank - 4.81% (min $2.5K) account review
• Wachovia - 4.75% (min $5K) req chk, account review
• E-LOAN - 4.75% ($10K min), account review
• Capital One - 4.75% (min $5K) (5.00% $100K+) account review
• M&I Bank - 4.70% (min $2.5K), Not all states, account review
• M&T Bank - 4.57% (min $5K) account review
• GMAC Bank - 4.50% (min $500) account review
• Pentagon Federal CU - 4.50% (min $1K), account review
• Self-Help Credit Union - 4.34% (min $500), account review
• Melrose CU - 4.32% (min $5K) account review
• Navy FCU - 4.25% ($20K min) (4.40% for $100K+) restrictions to membership, account review
• Advanta Bank - 4.25% (min $10K), account review
• Intervest - 4.20% (min $2.5K), account review
• Countrywide - 4.20% (min $10K), account review
• EverBank - 4.20% ($1.5K min)
• ETrade Bank - 4.15% (min $1K), account review
• Mountain America CU - 4.11% (min $1K) account review
• Mutual Bank - 4.10% (min $1K) account review
• Northrop Grumman FCU - 4.09% (min $40K), account review
• University FCU - 4.05% (min $2.5K), 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
• UFB Direct - 3.80% (min $8K)
• Flagstar - 3.80% (min $500), account review
• Tennessee Commerce Bank - 3.80% (min $5K)
• Air Force FCU - 3.75% (min $25K) restrictions to membership, account review
• National Bank of KC - 3.75% (min $10K), account review
• Air Academy FCU - 3.75% (min $10K) membership restrictions, account review
• Patelco CU - 3.71% ($1K min), account review
• CU of Georgia - 3.71% (min $50K), account review
• Western FCU - 3.55% (min $40K) account review
• Bank of Internet - 3.52% (min $1K) account review
• 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
• USA FCU - 3.30% (min $1K) 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 - 5.00% (min $5K) (5.25% 7yr / 5.50% 10yr for $100K+) account review
• KeyDirect - 5.00% (min $5K) (5.00% 10yr $100K+) 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 - 4.22% (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 Charter Bank - $25K Cap
• 6.01% Reward Checking at Golden Plains Credit Union - $25K Cap
• 6.00% Reward Checking at Southern Community Bank & Trust - $25K Cap
• 5.15% Reward Checking at First New England FCU - $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 Capital Bank - $25K 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
• 4.00% Reward Checking at ViewPoint Bank - $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)
• 3.05% Checking Account (Florida)
• 3.05% Money Market Account (Utah)
• 3.05% No-Minimum Online Savings Account (New York)
• 3.00% Checking Account (Tennessee)
• 2.85% 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

• 5.00% 60-Month CD at a Michigan CU - $5K Max (United Financial)
• 5.00% 60-Month CD at a Florida CU (Keys)
• 4.75% 60-Month CD at a Illinois/Indiana CU - ASI-Insured Only (Credit Union 1)

Terms of 24 Months to Under 60 Months

• 5.00% 36-Month CD at a New Hampshire Credit Union (NHFCU)
• 4.59% 48-Month CD at a New Jersey CU (Garden Savings)
• 4.50% 48-Month CD at a Illinois Bank (Wheatland)
• 4.33% 36-Month CD at a New Jersey CU (Garden Savings)
• 4.25% 36-Month CD at a Texas Bank (Highlands)
• 4.18% 24-Month CD at a Florida Bank (Heritage)
• 4.06% 24-Month CD at a Maryland CU (Oldham Family Alliance)
• 4.05% 24-Month CD at a WA/ID/MT/OR Bank (Golf Savings)
• 4.00% 24-Month CD at a Virginia CU - Plus $100 Checking Bonus (Northwest)
• 4.00% 25-Month CD at a Michigan Bank (Bank of Auburn Hills)
• 4.00% 24-Month CD at a Florida Bank (Riverside)
• 4.00% 24-Month CD at a Ohio Bank (Firstmerit)
• 4.00% 24-Month CD at a New York CU (Bethpage)
• 4.00% 25-Month CD at a Texas Bank (Patriot)
• 3.75% 30-Month CD at a Pennsylvania Bank (Third Federal)

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)
• 4.30% 18-Month CD at a Colorado Bank (New Frontier)
• 4.25% 23-Month CD at a Indiana CU (Horizon One)
• 4.10% 18-Month CD at a North Carolina CU (NewBridge)
• 4.05% 23-Month CD at a Florida CU (Keys)
• 4.05% 12-Month CD at a California Bank (Vineyard)
• 4.00% 12-Month CD at a New Hampshire Credit Union (NHFCU)
• 4.00% 18-Month CD at a Texas Bank (First National)
• 4.00% 12-Month CD at a Illinois Bank (Wheatland)
• 4.00% 18-Month CD at a Florida Bank (AmTrust )
• 4.00% 17-Month CD at a Florida Bank (TIB)
• 4.00% 15-Month CD at a Nevada CU (WestStar)
• 3.98% 14-Month CD at a Florida Bank (Heritage)
• 3.90% 12-Month CD at a Florida Bank (Freedom)
• 3.90% 12-Month CD at a Illinois/Indiana CU - ASI-Insured Only (Credit Union 1)
• 3.80% 12-Month CD at a Missouri Bank (St. Louis)
• 3.80% 12-Month CD at a Maryland CU (Oldham Family Alliance)
• 3.75% 15-Month CD at a Michigan Bank (Bank of Auburn Hills)
• 3.75% 12-Month CD at a Florida Bank (AmTrust )
• 3.75% 12-Month CD at a Texas Bank (Equity)
• 3.75% 15-Month CD at a Texas Bank (Patriot)
• 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)
• 3.65% 14-Month CD at a Philadelphia Bank (East River)
• 3.65% 12-Month CD at a Washington State CU (HAPO Community)
• 3.50% 12-Month CD at a Nevada Bank (Community Bank of Nevada)

Terms of Under 12 Months

• 5.00% 9-Month CD at a Michigan CU - $20K Max (Dort Federal Credit Union)
• 4.40% 5-Month CD at a Oregon CU (Advantis)
• 4.20% 10-Month CD at a Oregon CU (Advantis)
• 4.05% 6-Month CD at a Houston Credit Union (Plus4)
• 4.05% 7-Month CD at a California Bank (Vineyard)
• 4.00% 6-Month CD at a Hawaii Credit Union (Maui County Employees')
• 4.00% 9-Month CD at a Georgia Bank (Alpha Bank & Trust)
• 4.00% 7-Month CD at a California CU - Easy Membership/ASI-Insured Only (Christian Community)
• 4.00% 4-Month CD at a California CU (Pacific Transportation)
• 4.00% 9-Month CD at a Georgia Bank (Cornerstone)
• 4.00% 4-Month CD at a New York Credit Union (Advantage)
• 3.90% 9-Month CD at a Florida Bank (Freedom)
• 3.88% 5-Month CD at a SoCal Bank (Golden Coast)
• 3.83% 10-Month CD at a California Bank (Pacific State)
• 3.80% 6-Month CD at a Missouri Bank (St. Louis)
• 3.75% 10-Month CD at a Illinois Bank (St. Charles)
• 3.75% 4-Month CD at a Illinois Bank (St. Charles)
• 3.75% 9-Month CD at a Texas Bank (First National)
• 3.75% 7-Month CD at a Michigan CU (Superior Iron Range Community)
• 3.70% 9-Month CD at a South Florida Bank (Great Florida)
• 3.70% 10-Month CD at a Florida / Alabama CU (Pen Air)
• 3.68% 3-Month CD at a SoCal Bank (Golden Coast)
• 3.65% 9-Month CD at a Arizona Bank (Community Bank of Arizona)
• 3.65% 10-Month CD at a Philadelphia Bank (East River)
• 3.65% 5-Month CD at a California CU - Add-On Feature (SchoolsFirst)
• 3.60% 5-Month CD at a Missouri Bank (St. Louis)
• 3.60% 3-Month CD at a Missouri Bank (St. Louis)
• 3.60% 6-Month CD at a Washington State CU (HAPO Community)
• 3.60% 9-Month CD at a Chicago Bank (Builders Bank)
• 3.56% 6-Month CD at a New York City Bank (Savoy)
• 3.50% 4-Month CD at a South Florida Bank (Great Florida)
• 3.50% 6-Month CD at a Texas Bank (Equity)
• 3.50% 9-Month CD at a New York CU (Bethpage)
• 3.30% 6-Month CD at a Nevada Bank (Community Bank of Nevada)

Bank Account Alternatives

• Money Magazine article on risk-free investments
• GE Interest Plus - 3.30% rate for $50k+
• Fidelity Money Market Fund - 2.52% 7-day yield ($100 bonus and other info)
• Paypal Money Market Fund - 2.46% 7-day yield (1% cashback debit MasterCard)
• TIAA-CREF Money Market Fund - 2.34% 7-day yeild
• Vanguard Prime Money Market Fund - 2.25% 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)