Bank Deals Weekly Summary for October 25, 2008
Oct 26, 2008 - 2:12 PM by Ken Tumin
Quick Link for Rates, Recap of this week's posts
Next week we may see the federal funds rate drop below 1% which would be even lower than it fell back in 2003. The next FOMC meeting is on Tuesday and Wednesday. As this CNN article describes, the Federal Reserve is widely expected to cut interest rates. It's currently at 1.50%. The federal funds futures are predicting about a 40% chance that we'll see a rate cut of at least 75 basis points, and they're predicting about an 80% chance that we'll see a cut of at least 50 basis points.
Savings Accounts
If the fed funds rate goes down, banks usually lower their rates, but savers have been fortunate that rates haven't gone down this year like they did in 2002. This BestCashCow article has an interesting chart showing this. As mentioned in that article, "it can be considered both a sign of desperation on the banks part as well as a risk premium banks must pay to keep your money." This may be why we saw GMAC Bank raise its rates this week. The yield on its online savings account was raised back to 3.75% APY on Friday, and it also removed the $500 minimum requirement and monthly service fees (see post).
But the cuts are starting to come. Two big online savings accounts had rate cuts this week: HSBC Direct and FNBO Direct. Below is the list of savings account rate changes for this week:
Rate Hikes:
Certificate of Deposit Rates
Finding 5% CDs is becoming difficult. National City Bank continues to offer a 5.25% APY 36-month CD and a 5% APY 19-month CD. Both require a checking account. Without a checking, the yield is 25 basis points lower (see post). It was announced yesterday that PNC will be acquiring National City so this should resolve the issue of National City's financial health. On the downside, National City probably won't feel the need to extend these CD specials so these 5% rates probably won't last much longer.
KeyDirect also has a good deal on its 29-month CD with a yield of 5.00% APY. With a checking account, the yield goes up to 5.25% APY. One downside is that it's not available in all states. Another downside is that readers have reported problems with the account opening process and with customer service (see post).
This is probably the last week for Pentagon Federal Credit Union's 5% 36-month CDs. I had received an email from PenFed about these CDs that stated all money must be on deposit by 10/31/08.
Reward Checking Accounts
There's not much new with reward checking accounts this week. I reported on two new ones with decent yields: 4.51% APY and 5.01% APY (see below). Those offering 6% APY are becoming rare.
For my full list of reward checking accounts around the nation, please refer to my High Yield Checking website.
Recap for the Week - Links to This Week's Posts
Banking News
Savings and Money Market Deals - National
CD Deals - National
Checking/Savings Account Bonuses
Reward Checking Accounts
CD and Money Market Deals - Local
The rates listed below are based on Annual Percentage Yield (APY). No minimum balances are required unless noted. MMA next to the rates indicate a money market account. Most MMAs have check writing and ATM cards. Online savings accounts usually lack both of these. The top lists include banks and credit unions with broad availability and with minimums around $10K or less. Previous weekly summaries are available for Oct 18th, Oct 12th, Oct 4th, Sep 27th, Sep 20th, Sep 13th, Sep 6th, Aug 30th and Aug 23rd.
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 October 25, 2008
Checking/Savings/Money Market Accounts:
3-Month Certificates of Deposit:
6-Month Certificates of Deposit:
9-Month Certificates of Deposit:
12-Month Certificates of Deposit:
18-Month Certificates of Deposit:
24-Month Certificates of Deposit:
36-Month Certificate of Deposit:
48-Month Certificate of Deposit:
60-Month Certificate of Deposit:
84-Month Certificate of Deposit:
Various Deposit Account Deals
High Yield Reward Checking Accounts - Open to All
Checking and Saving Accounts at Local Banks/Credit Unions
Recent CD Specials at Local Credit Unions and Banks
Bank Account Alternatives
Historical Rates from the Federal Reserve (Federal funds, Treasury bills, CD's)
Edit 10/26/08: Corrected Citibank's Ultimate Savings yield.
Next week we may see the federal funds rate drop below 1% which would be even lower than it fell back in 2003. The next FOMC meeting is on Tuesday and Wednesday. As this CNN article describes, the Federal Reserve is widely expected to cut interest rates. It's currently at 1.50%. The federal funds futures are predicting about a 40% chance that we'll see a rate cut of at least 75 basis points, and they're predicting about an 80% chance that we'll see a cut of at least 50 basis points.
Savings Accounts
If the fed funds rate goes down, banks usually lower their rates, but savers have been fortunate that rates haven't gone down this year like they did in 2002. This BestCashCow article has an interesting chart showing this. As mentioned in that article, "it can be considered both a sign of desperation on the banks part as well as a risk premium banks must pay to keep your money." This may be why we saw GMAC Bank raise its rates this week. The yield on its online savings account was raised back to 3.75% APY on Friday, and it also removed the $500 minimum requirement and monthly service fees (see post).
But the cuts are starting to come. Two big online savings accounts had rate cuts this week: HSBC Direct and FNBO Direct. Below is the list of savings account rate changes for this week:
Rate Hikes:
- UFB Direct, Traveler Savings - 4.00% APY (was 3.80%)
- GMAC Bank, Online Savings - 3.75% APY (was 3.60%)
- Bank of America, MMS NEA - 3.70%/3.91% APY (was 3.51%/3.71%)
- Bank of America, MMS DoW - 2.82% APY (was 3.93%)
- FNBO Direct - 3.25% APY (was 3.50%)
- HSBC Direct - 3.00% APY (was 3.25%)
- Charles Schwab, checking - 1.75% APY (was 2.20%)
Certificate of Deposit Rates
Finding 5% CDs is becoming difficult. National City Bank continues to offer a 5.25% APY 36-month CD and a 5% APY 19-month CD. Both require a checking account. Without a checking, the yield is 25 basis points lower (see post). It was announced yesterday that PNC will be acquiring National City so this should resolve the issue of National City's financial health. On the downside, National City probably won't feel the need to extend these CD specials so these 5% rates probably won't last much longer.
KeyDirect also has a good deal on its 29-month CD with a yield of 5.00% APY. With a checking account, the yield goes up to 5.25% APY. One downside is that it's not available in all states. Another downside is that readers have reported problems with the account opening process and with customer service (see post).
This is probably the last week for Pentagon Federal Credit Union's 5% 36-month CDs. I had received an email from PenFed about these CDs that stated all money must be on deposit by 10/31/08.
Reward Checking Accounts
There's not much new with reward checking accounts this week. I reported on two new ones with decent yields: 4.51% APY and 5.01% APY (see below). Those offering 6% APY are becoming rare.
For my full list of reward checking accounts around the nation, please refer to my High Yield Checking website.
Recap for the Week - Links to This Week's Posts
Banking News
- Bank Failure - Alpha Bank & Trust in Georgia
- PNC to Buy National City
- Major Regional Banks: Their Latest Losses and CD Deals
- More Details About the Treasury's Money Market Fund Guarantee Program
- ING Group Gets Bailed Out by the Netherlands
- Things Your Bank Won't Tell You
- Glossary of CD and Savings Account Terms
Savings and Money Market Deals - National
- GMAC Bank's Online Savings Account Yield Back Up to 3.75%
- UFB Direct Increases Yield on its Traveler's Savings Account to 4.00%
- Rate Cuts at HSBC Direct, FNBO Direct - Future Rates?
- Update #2 on the 4% Online Savings Account at CNBBankDirect
CD Deals - National
- 4.40% 7-Month CD at BankUnited in Florida - Nationally Available
- 4.00% 7-Month CD at Webster Bank in the Northeast - Nationally Available
- 4.15% 6-Month CD at Earthstar Bank in PA - Nationally Available
- CD Rates Up at ING Direct
- 4.50% 7-Month / 5.10% 60-Month CD at Harris Bank - EXPIRED
- 4.50% 16-Month / 4.00% 8-Month CD at Digital Credit Union - Easy Membership
Checking/Savings Account Bonuses
- $100 Checking Account Promotion at KeyBank
- $100 Checking Account Bonus in TX, OK, NM and CO
- National City Raises Checking Account Bonus to $200
- $100 Checking Account Bonus at City Bank in Grand Prairie Texas
- Another $75 Checking Account/Debit Card Bonus at US Bank
Reward Checking Accounts
- 4.51% Reward Checking Account at Kennebec Federal Savings in Maine
- 5.01% Reward Checking Account at Bartow County Bank in Georgia
CD and Money Market Deals - Local
- 4.50% 18-Month CD at USA Federal Credit Union in California - Easy Membership
- 4.50% 12-Month Jumbo CD at Kemba Credit Union in Ohio
- 4.75% 13-Month CD at Haven Trust Bank in Georgia
- 4.15% 7-Month CD at AmericanWest Bank in WA, ID and UT
- 4.25% 6-Month CD at Guaranty Bank in California
- 4.60% 13-Month / 4.50% 8-Month CD at TransCapital Bank in Southwest Florida
- 4.50% 20-Month CD at Allegiance Bank in Philadelphia
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 Oct 18th, Oct 12th, Oct 4th, Sep 27th, Sep 20th, Sep 13th, Sep 6th, Aug 30th and Aug 23rd.
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 October 25, 2008
Checking/Savings/Money Market Accounts:
- EverBank - 4.76% ($1.5K min), 3mo promo, account review
- UFB Direct - 4.00%, Travelers Savings (min $500) account review
- DollarSavingsDirect - 4.00% ($1K min) account review
- GCF Bank - 4.00% (min $100), 3-mo promo, account review
- CNB Bank Direct - 4.00% account review
- National City - 4.00% (min $5K), 6 mo promo, Not all states, account review
- 1st Constitution Direct - 4.00% (min $100), 3 mo promo, account review
- SmartyPig - 3.90% (min $25) access restrictions, account review
- Corus Bank - 3.85% MMA (min $10K) account review
- Venture Bank Direct - 3.80%, account review
- GMAC Bank - 3.75% Savings account review
- BankUnited - 3.75% (min $5K), account review
- Alliant Credit Union - 3.75% (min $100) account review
- CapitalOne/Costco - 3.75% Savings (min $10K, Costco members only, $60 deal for exec. members)
- Provident Direct - 3.75%, account review
- OneUnited - 3.75% (min $1K), account review
- Union Federal Savings - 3.75% account review
- AmTrustDirect - 3.75% ($500 min), NEW e-Money Market, account review
- Bank of America NEA - 3.70% MMA ($500 min) (3.91% for $50K+) account review
- Flagstar - 3.65% MMA, account review
- OnBank - 3.60%, account review
- Century Bank Direct - 3.57% MMA (min $1K) account review
- Amegy Bank - 3.57% (min $10K) account review
- Zions Bank - 3.56% MMA, outside of Utah, (min $2.5K) account review
- Heartland Bank Direct - 3.55%, ($500 min), account review
- Doral Bank Direct - 3.55% (min $1K) account review
- Capital One - 3.55% (Savings) (min $10K) account review
- Nationwide Bank - 3.52% MMA (min $1K) account review + $25 bonus
- EverBank - 3.51% MMA ($1.5K min) account review
- ShoreBank - 3.50%, account review
- Citibank - 3.50% (Ultimate Savings) account review
- Bank of Internet - 3.46% MMA (min $100) account review
- Century Bank Direct - 3.41% (min $100) account review
- Countrywide - 3.40% (min $10K) (3.50% for $50K+) account review
- Bank of Internet - 3.40% Checking (min $5K) account review
- UmbrellaBank - 3.40% MMA (min $1K), account review
- E-LOAN - 3.35% Savings Plus ($10K min) (3.75% for $50K+) account review
- Century Bank Direct - 3.35% Checking (min $100) account review
- WTDirect - 3.31% ($10K min), account review
- ETrade Bank - 3.30%, post ($25 bonus)
- Provident Bank Online - 3.30% (min $10) (rate good thru 2008) account review
- iGObanking - 3.28%, account review
- Discover Bank - 3.25% MMA (min $2.5K) (3.35% for $50K+) account review
- Amboy Direct - 3.25% (min $3K) (eSavings) account review ($50 bonus)
- M&T Bank - 3.25%, account review
- FNBO Direct - 3.25%, account review
- CapitalOne/Costco - 3.20% MMA (min $1K, Costco members only, $60 deal for exec. members)
- Indymac Federal Bank - 3.10% (min $1K) (3.75% for $50K+) account review
- Imperial Capital - 3.05% Checking (min $1K) account review
- AmboyDirect - 3.05% (Premium Savings) post ($25 bonus)
- Savings Square - 3.05%, account review
- AARP Financial Savings Center - 3.00%, AARP membership req, account review
- EmigrantDirect - 3.00%, account review
- Transportation Alliance Bank - 3.00%, ($25 min), account review
- GMAC Bank - 3.00% MMA account review
- Imperial Capital - 3.00% MMA ($2.5K min) (3.75% for $100K+) account review
- Capital One - 3.00% MMA, account review
- WaMu/Chase - 3.00% (requires checking), account review
- HSBC Direct - 3.00% account review
- ETrade Bank - 2.90% Checking (min $5K) account review
- Bank of America DoW - 2.82% MMA (min $5K), account review
- Salem Five Direct - 2.75% Checking (3.35% $100K+), account review
- grand yield direct - 2.75% (min $2.5K) account review
- Mutual Bank - 2.75% MMA (min $5K), account review
- UnivestDirect - 2.75%, (1.50% checking), account review
- ING Direct - 2.75%, (1.50% checking), post ($25 bonus)
- VirtualBank - 2.53% (min $100), (3.56% $25K+, 3.72% $50K+) post ($20 bonus)
- E-LOAN - 2.51% ($5K min), account review
- Charles Schwab - 1.75% Checking, account review
3-Month Certificates of Deposit:
- BankUnited - 4.20% (4-mo) (min $5K) account review
- H&R Block Bank - 3.65% (min $5K) account review
- GMAC Bank - 3.50% (min $500), account review
- VirtualBank - 3.46% (min $10K), account review
- E-LOAN - 3.41% ($10K min), account review
- Imperial Capital - 3.40%, ($2K min), account review
- UmbrellaBank - 3.25% (min $1K) account review
- ebank - 3.25% (min $1K)
- EverBank - 3.25% ($1.5K min) account review
- Bank of America DoW - 3.24% (min $1K) account review
- Nationwide Bank - 3.00% (min $500) account review
- ETrade Bank - 2.80% (min $1K), account review
6-Month Certificates of Deposit:
- Christian Community CU - 4.50% (7-mo) (min $500) not NCUA insured (ASI only) account review
- BankUnited - 4.40% (7-mo) (min $5K) account review
- Corus Bank - 4.15% (min $10K) account review
- Imperial Capital - 4.10% ($2K min), account review
- VirtualBank - 4.08% (min $10K), account review
- Northrop Grumman FCU - 4.02% (min $40K), account review
- Century Bank Direct - 4.01% (5 mo) (min $1K) account review
- GMAC Bank - 4.00% (min $500), account review
- Citibank - 4.00% (min $500) account review
- HSBC Direct - 4.00% (min $10) NEW money, account review
- E-LOAN - 4.00% ($10K min), account review
- Ascencia Bank - 4.00% (min $500), account review
- Navy FCU - 4.00% ($10K min) restrictions to membership, account review
- ebank - 3.90% (min $1K)
- Countrywide Bank - 3.90% (7-mo) (min $10K) account review
- Zions Bank - 3.82% (min $1K) account review
- IndyMac Federal Bank - 3.80% (7-mo)(min $5K) account review
- Tennessee Commerce Bank - 3.80% (min $5K)
- Flagstar - 3.76% (min $500), account review
- FirstFedDirect - 3.75% (min $10K), account review
- EverBank - 3.75% ($1.5K min) account review
- La Jolla Bank - 3.75% (min $10K), account review
- Nationwide Bank - 3.75% (7mo) (min $500) account review
- AmTrustDirect - 3.75% (min $1K) account review
- Wachovia - 3.60% (7-mo) (min $5K) account review
- UmbrellaBank - 3.50% (min $1K) account review
- Doral Bank Direct - 3.50% (min $1K) account review
- ING Direct - 3.50%, account review
- Greystone Bank - 3.45% (min $50K) account review
- Bank of America DoW - 3.24% (179 days) (min $1K) account review
- Bank of America - 3.10% (7-mo) (min $5K) account review
- Capital One - 3.00% (min $5K) account review
- ETrade Bank - 3.00% (min $1K), account review
9-Month Certificates of Deposit:
- Christian Community CU - 4.50% (min $500) not NCUA insured (ASI only) account review
- Century Bank Direct - 4.45% (10 mo) (min $1K) account review
- BankUnited - 4.40% (min $5K) account review
- FirstFedDirect - 4.30% (min $10K) account review
- La Jolla Bank - 4.20% (10mo) (min $10K), account review
- AmTrustDirect - 4.15% (min $1K) account review
- Imperial Capital - 4.15% ($2K min), account review
- VirtualBank - 4.13% (min $10K), account review
- ebank - 4.06% (min $1K) account review
- E-LOAN - 4.01% ($10K min), account review
- Mountain America CU - 4.00% (min $1K) account review
- Fifth Third - 4.00% (min $5K), Not all states, account review
- Stonebridge Bank - 4.00% (min $500) account review
- Digital Credit Union - 4.00% (8 mo) (min $500) account review
- GMAC Bank - 3.92% (min $500), account review
- UmbrellaBank - 3.80% (min $1K) account review
- Academy Bank - 3.80% (min $500), account review
- ING Direct - 3.75% account review
- Citibank - 3.75% (min $500)
- EverBank - 3.75% ($1.5K min) account review
- Indymac Federal Bank - 3.70% (min $5K) account review
- Doral Bank Direct - 3.50% (min $1K) account review
- Bank of Internet - 3.35% (min $1K) account review
- WaMu/Chase - 3.00% (8 mo) (min $1K), account review
12-Month Certificates of Deposit:
- Corus Bank - 4.60% (min $10K) account review
- State Bank of India - 4.58% (min $5K) account review
- Christian Community CU - 4.50% (min $500) not NCUA insured (ASI only) account review
- VirtualBank - 4.45% (min $10K), account review
- BankUnited - 4.40% (min $5K) account review
- Flagstar - 4.40% (min $500), account review
- GMAC Bank - 4.36% (min $500), account review
- E-LOAN - 4.36% ($10K min), account review
- Tennessee Commerce Bank - 4.35% (min $5K)
- Fifth Third - 4.35% (13 mo) (min $5K), Not all states, account review
- Melrose CU - 4.32% (min $5K) account review
- ebank - 4.30% (14 mo) (min $1K)
- ING Direct - 4.25% account review
- La Jolla Bank - 4.25% (min $10K), account review
- ebank - 4.25% (min $1K)
- Imperial Capital - 4.25% ($2K min), account review
- National City Bank - 4.25% (13-mo) (min $10K), req chk, account review
- NASA FCU - 4.25% (11 mo) ($5K min) account review
- Advanta Bank - 4.25% (min $10K), account review
- Mountain America CU - 4.25% (15mo) (min $1K) account review
- CU of Georgia - 4.23% (min $50K), account review
- Pacific Mercantile Bank - 4.22% (min $10K) account review
- Century Bank Direct - 4.16% (15 mo) (min $1K) account review
- EverBank - 4.15% ($1.5K min) account review
- KeyDirect - 4.15% (14mo) (min $5K), 4.40% w/chk, Not all states, account review
- iGobanking - 4.15% (15mo) (min $500), account review
- Ascencia Bank - 4.15% (min $500), account review
- Northrop Grumman FCU - 4.12% (min $40K), account review
- Mutual Bank - 4.10% (min $2.5K) account review
- Wachovia - 4.10% (min $5K) account review
- UmbrellaBank - 4.10% (min $1K) account review
- Academy Bank - 4.10% (min $500), account review
- Greystone Bank - 4.01% (min $50K) account review
- Indymac Federal Bank - 4.00% (min $5K) account review
- FirstFedDirect - 4.00%, (min $10K) account review
- Navy FCU - 4.00% (15 mo) ($15K min) restrictions to membership, account review
- Geauga Savings Bank - 4.00% (min $1K) account review
- America's CU - 4.00% (15-mo) (min $500), Add-On Feature, account review
- Discover Bank - 3.97% (min $2.5K) account review
- Countrywide - 3.90% (min $10K), account review
- Alliant Credit Union - 3.90% (min $25K) account review
- Bank of Internet - 3.82% (min $1K) account review
- AmTrustDirect - 3.80% (min $1K) account review
- ETrade Bank - 3.10% (min $1K), account review
- WaMu/Chase - 3.00% (min $1K), account review
18-Month Certificates of Deposit:
- National City Bank - 5.00% (19-mo) (min $10K), req chk, account review
- Christian Community CU - 4.50% (min $500) not NCUA insured (ASI only) account review
- Digital Credit Union - 4.50% (16 mo) (min $500) account review
- Advanta Bank - 4.50% (min $10K), account review
- USA FCU - 4.50% (min $1K) account review
- VirtualBank - 4.45% (min $10K), account review
- Capital One - 4.41% (min $5K) account review
- GMAC Bank - 4.40% (min $500) account review
- E-LOAN - 4.40% ($10K min) account review
- Tennessee Commerce Bank - 4.35% (min $5K)
- ING Direct - 4.25%, account review
- Century Bank Direct - 4.21% (20 mo) (min $1K) account review
- OnBank - 4.20% (min $500), account review
- Greystone Bank - 4.20% (min $50K) account review
- Discover Bank - 4.16% (min $2.5K), account review
- EverBank - 4.15% ($1.5K min) account review
- Intervest - 4.10% (min $2.5K), account review
- Flagstar - 4.05% (min $500), account review
- Heritage Bank - 4.00% (min $5K) account review
- Doral Bank Direct - 4.00% (min $1K) account review
- Alliant Credit Union - 3.90% (min $25K) account review
- State Farm Bank - 3.75% (min $500) account review
24-Month Certificates of Deposit:
- KeyDirect - 5.00% (29 mo) (min $5K), 5.25% w/chk, Not all states, account review
- Fifth Third - 4.75% (min $5K) not all states, account review
- Geauga Savings Bank - 4.61% (min $60K) account review
- State Bank of India - 4.58% (min $5K) account review
- 1st Source Bank - 4.51% (min $5K) account review
- GMAC Bank - 4.50% (min $500) account review
- VirtualBank - 4.50% (min $10K), account review
- Melrose CU - 4.47% (min $5K) account review
- E-LOAN - 4.45% ($10K min) account review
- Discover Bank - 4.45% (min $2.5K) account review
- Advanta Bank - 4.40% (min $10K), account review
- Tennessee Commerce Bank - 4.37% (min $5K)
- Greystone Bank - 4.35% (min $50K) account review
- Intervest - 4.35% (min $2.5K), account review
- Northrop Grumman FCU - 4.30% (min $40K), account review
- OnBank - 4.30% (min $500), account review
- Provident Direct - 4.25% (min $1K) bank review
- ING Direct - 4.25% account review
- KeyDirect - 4.25% (23 mo) (min $5K), 4.50% w/chk, Not all states, account review
- iGObanking - 4.25% (min $500) account review
- M&T Bank - 4.18% (min $5K) account review
- Flagstar - 4.10% (min $500), account review
- Heritage Bank - 4.10% (min $5K) account review
- Alliant Credit Union - 4.05% (min $25K) account review
- Bank of Internet - 4.03% (min $1K) account review
- Capital One - 4.00% (min $5K) (4.25% $100K+) account review
36-Month Certificate of Deposit:
- National City Bank - 5.25% (min $10K), req chk, account review
- Fifth Third - 5.05% (37 mo) (min $5K) Not all states account review
- Pentagon Federal CU - 5.00% (min $1K), account review
- 1st Source Bank - 4.80% (min $500) account review
- Intervest - 4.75% (min $2.5K), account review
- Discover Bank - 4.60% (min $2.5K) account review
- Melrose CU - 4.58% (min $5K) account review
- State Bank of India - 4.58% (min $5K) account review
- GMAC Bank - 4.55% (min $500) account review
- Advanta Bank - 4.55% (min $10K), account review
- E-LOAN - 4.55% ($10K min) account review
- Alliant Credit Union - 4.50% (min $25K) account review
- VirtualBank - 4.50% (min $10K), account review
- M&T Bank - 4.50% (min $5K) account review
- KeyDirect - 4.50% (min $5K), 4.75% w/chk, Not all states, account review
- Huntington - 4.50% (min $1K) account review
- Northrop Grumman FCU - 4.50% (min $40K), account review
- OnBank - 4.45% (min $500), account review
- Greystone Bank - 4.40% (min $50K) account review
- Tennessee Commerce Bank - 4.39% (min $5K)
- Western FCU - 4.30% (min $40K), account review
- Heritage Bank - 4.30% (min $5K) account review
- Third Federal - 4.25% (min $500) account review
- Flagstar - 4.20% (min $500), account review
- Bank of Internet - 4.08% (min $1K) account review
- Capital One - 4.00% (min $5K) (4.25% $100K+) account review
- ING Direct - 4.00%, account review
- NewDominion Bank - 4.00% (min $3K) account review
- Agriculture FCU - 3.75% (min $1K), allows penalty-free withdrawal account review
48-Month Certificate of Deposit:
- National City Bank - 5.25% (min $10K), req chk, account review
- Intervest - 5.05% (min $2.5K), account review
- Third Federal - 5.00% (min $500) account review
- Pentagon Federal CU - 5.00% (min $1K), account review
- Capital One - 5.00% (min $5K) (5.05% $100K+) account review
- Flagstar - 5.00% (min $500), account review
- M&T Bank - 4.97% (min $5K) account review
- Melrose CU - 4.84% (min $5K) account review
- 1st Source Bank - 4.80% (min $500) account review
- Northrop Grumman FCU - 4.77% (min $40K), account review
- E-LOAN - 4.76% ($10K min) account review
- GMAC Bank - 4.75% (min $500) account review
- Advanta Bank - 4.75% (min $10K), account review
- Discover Bank - 4.75% (min $2.5K) account review
- OnBank - 4.65% (min $500), account review
- Western FCU - 4.60% (min $40K), account review
- VirtualBank - 4.50% (min $10K), account review
- KeyDirect - 4.50% (min $5K), 4.75% w/chk, Not all states, account review
- Greystone Bank - 4.50% (min $50K) account review
- Tennessee Commerce Bank - 4.45% (min $5K)
- USA FCU - 4.44% (min $1K) account review
- Heritage Bank - 4.40% (min $5K) account review
- Patelco CU - 4.28% ($1K min), account review
- EverBank - 4.25% ($1.5K min) account review
- ING Direct - 4.00%, account review
60-Month Certificate of Deposit:
- Melrose CU - 5.25% (min $5K) account review
- Intervest - 5.25% (min $2.5K), account review
- Advanta Bank - 5.25% (min $10K), account review
- Discover Bank - 5.21% (min $2.5K) account review
- State Bank of India - 5.20% (min $5K) account review
- Northrop Grumman FCU - 5.16% (min $40K), account review
- GMAC Bank - 5.15% (min $500) account review
- Wachovia - 5.15% (min $5K) account review
- E-LOAN - 5.15% ($10K min) (5.25% $100K+) account review
- Navy FCU - 5.10% ($20K min) (5.25% for $100K+) restrictions to membership, account review
- Mutual Bank - 5.10% (min $2.5K) account review
- Third Federal - 5.00% (min $500) account review
- Provident Direct - 5.00% (min $1K) bank review
- M&T Bank - 5.00% (min $5K) account review
- KeyDirect - 5.00% (min $5K), 5.25% w/chk, Not all states, account review
- Pentagon Federal CU - 5.00% (min $1K), account review
- OnBank - 4.90% (min $500), account review
- 1st Source Bank - 4.80% (min $500) account review
- EverBank - 4.75% ($1.5K min) account review
- Western FCU - 4.68% (min $40K) account review
- Tennessee Commerce Bank - 4.65% (min $5K)
- VirtualBank - 4.60% (min $10K), account review
- Mountain America CU - 4.60% (min $1K) account review
- Greystone Bank - 4.60% (min $50K) account review
- Flagstar - 4.56% (min $500), account review
- Capital One - 4.50% (min $5K) (4.70% $100K+) account review
- ebank - 4.50% (min $1K) account review
- Salem Five Bank - 4.50% (min $10K), account review
- Heritage Bank - 4.50% (min $5K) account review
- US Bank - 4.50% (59 mo) (min $1K), Not all states, account review
- Patelco CU - 4.39% ($1K min), account review
- Agriculture FCU - 4.35% (min $1K), account review
- CU of Georgia - 4.33% (min $50K), account review
- Bank of Internet - 4.29% (min $1K) account review
- Delta Community CU - 4.25% (min $1K) account review
- Telcom Credit Union - 4.25% (min $500) account review
- ING Direct - 4.25%, account review
- University FCU - 4.22% (min $2.5K), account review
- National Bank of KC - 4.20% (min $10K), account review
- Self-Help Credit Union - 4.13% (min $500), account review
- Citibank - 4.00% (min $500)
- Air Force FCU - 3.95% (min $25K) restrictions to membership, account review
- Air Academy FCU - 3.75% (min $10K) membership restrictions, account review
84-Month Certificate of Deposit:
- CapitalOne/Costco - 5.55% (min $5K) account review
- Capital One - 5.50% (min $5K) account review
- Discover Bank - 5.50% (min $2.5K) account review
- Intervest - 5.27% (min $2.5K), account review
- Navy FCU - 5.10% ($20K min) (5.25% $100K+) restrictions to membership, account review
- KeyDirect - 5.00% (min $5K) (5.50% 10yr), 5.25% w/chk, Not all states, account review
- Pentagon Federal CU - 5.00% (min $1K), account review
- Countrywide - 3.25% (min $10K), account review
- WaMu/Chase - 3.00% (min $1K), account review
Various Deposit Account Deals
- Checking/Savings Account Bonuses
- Latest CD and Savings Account Deals with No Major Deposit Limitiations
High Yield Reward Checking Accounts - Open to All
Checking and Saving Accounts at Local Banks/Credit Unions
- Local High Yield Reward Checking Accounts Ordered by States
- Local High Yield Reward Checking Accounts
- 4.00% 6-Month Money Market Promo at Amboy (New Jersey)
- 3.05% Checking Account (Florida)
- 3.05% Money Market Account (Utah)
- 2.80% No-Minimum Online Savings Account (New York)
- 2.75% Low-Minimum Online Savings Account (California)
Recent CD Specials at Local Credit Unions and Banks
- 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
Bank Account Alternatives
- Money Magazine article on risk-free investments
- GE Interest Plus - 3.45% rate for $50k+
- Fidelity Money Market Fund - 3.13% 7-day yield (reviews on Fatwallet)
- Vanguard Prime Money Market Fund - 2.71% 7-day yield
- Vanguard Tax-Exempt Money Market Fund - 2.65% 7-day yield
- TIAA-CREF Money Market Fund - 2.31% 7-day yeild
- Paypal Money Market Fund - 2.06% 7-day yield (1% cashback debit MasterCard)
- Fidelity Municipal Money Market Fund - 1.68% 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 10/26/08: Corrected Citibank's Ultimate Savings yield.
Featured Accounts
Related Posts
Useful Resources
Nationwide Savings Accounts
Anonymous - #1, Saturday, October 25, 2008 - 7:01 PM
Maybe I missed the memo, but I am still seeing Citi Ultimate Savings account at 3.5% and Citi Ultimate Money Market account @ 3.0%.
The Ultimate Savings was posted as droppiing to 3.0% in the summary.
Banking Guy (anonymous) - #2, Sunday, October 26, 2008 - 2:13 PM
You're right. I confused the UMA with the USA. Thanks for catching this.
Anonymous - #3, Sunday, October 26, 2008 - 8:41 PM
Banking Guy, thanks for fixing the Citi USA info.
Anonymous - #4, Monday, October 27, 2008 - 12:01 PM
Thanks for the reminder about the PenFed 5% CDs. I was able to open one by telephone this morning and have the CSR pull the money from my FNBO account.
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