Bank Deals Weekly Summary for November 1, 2008
Nov 1, 2008 - 6:35 PM by Ken Tumin
Quick Link for Rates, Recap of this week's posts
The Fed did what was expected and cut the federal funds rate to 1% this week. The last time it was this low was back in 2003 and 2004. As described by this BestCashCow article, savers have been lucky this year since bank rates haven't fallen as much as the fed funds rate. Banks continue to be in need of deposits so we may see this trend continue. Bank rates did go down overall this week, but they didn't fall as much as might have been expected.
Savings Accounts
There are still a few 4% savings accounts, and there remains several with yields of at least 3.75% APY. However, several banks did cut rates, and no one increased rates. One big bank that cut rates was WaMu which cut its online savings account yield to 2.50% APY. Another significant drop was at EverBank. It's 3-month intro rate dropped from 4.76% APY to 4.01% APY (see post). Below is the list of savings account rate changes for this week:
Rate Hikes: None
Rate Drops:
Certificate of Deposit Rates
In addition to 4% savings accounts, there are still several 5% CDs. PenFed continued its 5% CDs with terms of 36 months and above into November (see post). KeyDirect continues to offer 5.00% APY on its 29-month CD. An extra 25 basis points is available for those who have a qualifying checking account (see post). I'm still listing 5% CDs from National City, but these are scheduled to end today. These specials have frequently been extended in the past, but with the current rate environment and the PNC acquisition, we may not see these extended.
A new 5% CD is being offered by USA Federal Credit Union. This has a 48-month term (see post).
Another nice surprise came from Delta Community Credit Union. It's offering a 12-month CD with a yield of 4.50% APY. Like USA Federal, anyone can join via an association membership. Delta Community CU is a major credit union with more than $2.8 billion in assets, and it's federally insured by the NCUA (see post).
Reward Checking Accounts
I reported on four new reward checking accounts this week. Two of them are offering a 6% APY with one guaranteeing 6% through January 2010. There are a few reward checking accounts around the country with similar guarantees. I reported on these in this post. Unfortunately, these are not available nationwide. My list of nationwide reward checking accounts shrunk this week due to MidWest America FCU adding a new restriction to its membership. This was the one that used to offer 7.01% APY. The yield is still the nation's highest with a 6.31% APY (see post).
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 25th, Oct 18th, Oct 12th, Oct 4th, Sep 27th, Sep 20th, Sep 13th, Sep 6th and Aug 30th.
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 November 1, 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)
The Fed did what was expected and cut the federal funds rate to 1% this week. The last time it was this low was back in 2003 and 2004. As described by this BestCashCow article, savers have been lucky this year since bank rates haven't fallen as much as the fed funds rate. Banks continue to be in need of deposits so we may see this trend continue. Bank rates did go down overall this week, but they didn't fall as much as might have been expected.
Savings Accounts
There are still a few 4% savings accounts, and there remains several with yields of at least 3.75% APY. However, several banks did cut rates, and no one increased rates. One big bank that cut rates was WaMu which cut its online savings account yield to 2.50% APY. Another significant drop was at EverBank. It's 3-month intro rate dropped from 4.76% APY to 4.01% APY (see post). Below is the list of savings account rate changes for this week:
Rate Hikes: None
Rate Drops:
- EverBank 3mo promo - 4.01% APY (was 4.76%)
- EverBank MMA ongoing - 3.21% APY (was 3.51%)
- National City 6mo promo - 3.75% APY (was 4.00%)
- BankUnited - 3.55% APY (was 3.75%)
- AmTrustDirect new e-MM - 3.50% APY (was 3.75%)
- Amegy - 3.40% APY (was 3.57%)
- Zions - 3.41% APY (was 3.56%)
- Heartland - 3.05% APY (was 3.55%)
- WaMu/Chase - 2.50% APY (was 3.00%)
- Bank of America DoW - 2.65% APY (was 2.82%)
Certificate of Deposit Rates
In addition to 4% savings accounts, there are still several 5% CDs. PenFed continued its 5% CDs with terms of 36 months and above into November (see post). KeyDirect continues to offer 5.00% APY on its 29-month CD. An extra 25 basis points is available for those who have a qualifying checking account (see post). I'm still listing 5% CDs from National City, but these are scheduled to end today. These specials have frequently been extended in the past, but with the current rate environment and the PNC acquisition, we may not see these extended.
A new 5% CD is being offered by USA Federal Credit Union. This has a 48-month term (see post).
Another nice surprise came from Delta Community Credit Union. It's offering a 12-month CD with a yield of 4.50% APY. Like USA Federal, anyone can join via an association membership. Delta Community CU is a major credit union with more than $2.8 billion in assets, and it's federally insured by the NCUA (see post).
Reward Checking Accounts
I reported on four new reward checking accounts this week. Two of them are offering a 6% APY with one guaranteeing 6% through January 2010. There are a few reward checking accounts around the country with similar guarantees. I reported on these in this post. Unfortunately, these are not available nationwide. My list of nationwide reward checking accounts shrunk this week due to MidWest America FCU adding a new restriction to its membership. This was the one that used to offer 7.01% APY. The yield is still the nation's highest with a 6.31% APY (see post).
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 - Freedom Bank of Florida
- Series I Savings Bond Inflation Rate is High, But Still Not a Good Deal
- Fed Cuts Rates to 1% - Future Savings Account and CD Rates?
- Checking Account Study - What's the Best Option?
- Inside Look at ACH Transfer Speeds at Online Banks
Savings and Money Market Deals - National
- Update on EverBank's Money Market and Checking Accounts
- Improvements to SmartyPig's High Yield Savings Account
CD Deals - National
- PenFed Extends the 5% CDs into November
- 5.00% 19-Month CD at National City
- 4.18% 6-Month CD at ISN Bank - Nationally Available
- 4.00% 9-Month / 4.25% 12-Month CD at Sovereign Bank
- 4.10% 7-Month CD at SunTrust Bank
Last Weekfor 5% 36-Month CD at Pentagon Federal Credit Union
Checking/Savings Account Bonuses
- $25 Savings Account or CD Bonus at E-LOAN
- ING Direct Electric Orange Promotion - $10 or $20?
- 4.44% 4-Month CD and $100 Bonus at Investors Savings Bank in New Jersey
Reward Checking Accounts
- 6.00% Reward Checking Account at Bank of Granite in North Carolina
- 5.01% Reward Checking Account at Deseret First Credit Union in Utah
- 6.01% Reward Checking Account at Galena State Bank & Trust Co. in Illinois
- Reward Checking Accounts with Guaranteed Rates
- 5.00% Reward Checking Account at Heritage Credit Union in IL and WI
CD and Money Market Deals - Local
- 5.00% 5-Month CD at Alta Vista Credit Union in Southern California
- 4.02% Money Market Account Guaranteed until Jan 2010 at Sun Security Bank in Missouri
- Money Market Account with Guaranteed 4.50% until 3/31/09 at Washington Federal in Chicago
- 4.05% 5-Month CD at Pacific Premier Bank in Southern California
- Money Market Account and CD Specials at Ocean Bank in Florida
- 4.40% 12-Month / 4.10% 6-Month Jumbo CDs at Generations FCU in Texas
- 4.05% 5-Month CD Available Online for NC, SC, GA and FL Residents (First Federal)
- 5.00% 25-Month CD at Pacific Capital Bank in California Continues
- 4.50% 14-Month / 4.25% 9-Month CD at Peoples First Community Bank in Florida
- Update on Regions CD and Money Market Account Promotions
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 25th, Oct 18th, Oct 12th, Oct 4th, Sep 27th, Sep 20th, Sep 13th, Sep 6th and Aug 30th.
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 November 1, 2008
Checking/Savings/Money Market Accounts:
- EverBank - 4.01% ($1.5K min), 3 mo promo, account review
- 1st Constitution Direct - 4.00% (min $100), 3 mo promo, account review
- CNB Bank Direct - 4.00% account review
- GCF Bank - 4.00% (min $100), 3-mo promo, account review
- DollarSavingsDirect - 4.00% ($1K min) account review
- UFB Direct - 4.00%, Travelers Savings (min $500) 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
- Union Federal Savings - 3.75% account review
- OneUnited - 3.75% (min $1K), account review
- Provident Direct - 3.75%, account review
- CapitalOne/Costco - 3.75% Savings (min $10K, Costco members only, $60 deal for exec. members)
- Alliant Credit Union - 3.75% (min $100) account review
- GMAC Bank - 3.75% Savings account review
- National City - 3.75% (min $5K), 6 mo promo, Not all states, account review
- Flagstar - 3.65% MMA, account review
- Bank of America NEA - 3.61% MMA ($500 min) (3.82% for $50K+) account review
- OnBank - 3.60%, account review
- Century Bank Direct - 3.57% MMA (min $1K) account review
- Capital One - 3.55% (Savings) (min $10K) account review
- Doral Bank Direct - 3.55% (min $1K) account review
- BankUnited - 3.55% (min $5K), account review
- Nationwide Bank - 3.52% MMA (min $1K) account review + $25 bonus
- Citibank - 3.50% (Ultimate Savings) account review
- ShoreBank - 3.50%, account review
- AmTrustDirect - 3.50% ($500 min), NEW e-Money Market, account review
- Bank of Internet - 3.46% MMA (min $100) account review
- Century Bank Direct - 3.41% (min $100) account review
- Zions Bank - 3.41% MMA, outside of Utah, (min $2.5K) account review
- UmbrellaBank - 3.40% MMA (min $1K), account review
- Bank of Internet - 3.40% Checking (min $5K) account review
- Countrywide - 3.40% (min $10K) (3.50% for $50K+) account review
- Amegy Bank - 3.40% (min $10K) account review
- Century Bank Direct - 3.35% Checking (min $100) account review
- E-LOAN - 3.35% Savings Plus ($10K min) (3.75% for $50K+) account review
- WTDirect - 3.31% ($10K min), account review
- Provident Bank Online - 3.30% (min $10) (rate good thru 2008) account review
- ETrade Bank - 3.30%, post ($25 bonus)
- iGObanking - 3.28%, account review
- FNBO Direct - 3.25%, account review
- M&T Bank - 3.25%, account review
- Amboy Direct - 3.25% (min $3K) (eSavings) account review ($50 bonus)
- Discover Bank - 3.25% MMA (min $2.5K) (3.35% for $50K+) account review
- EverBank - 3.21% MMA ($1.5K min) 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
- Savings Square - 3.05%, account review
- AmboyDirect - 3.05% (Premium Savings) post ($25 bonus)
- Imperial Capital - 3.05% Checking (min $1K) account review
- Heartland Bank Direct - 3.05%, ($500 min), account review
- HSBC Direct - 3.00% account review
- Capital One - 3.00% MMA, account review
- Imperial Capital - 3.00% MMA ($2.5K min) (3.75% for $100K+) account review
- GMAC Bank - 3.00% MMA account review
- Transportation Alliance Bank - 3.00%, ($25 min), account review
- EmigrantDirect - 3.00%, account review
- AARP Financial Savings Center - 3.00%, AARP membership req, account review
- ETrade Bank - 2.90% Checking (min $5K) account review
- ING Direct - 2.75%, (1.50% checking), post ($25 bonus)
- UnivestDirect - 2.75%, (1.50% checking), account review
- Mutual Bank - 2.75% MMA (min $5K), account review
- grand yield direct - 2.75% (min $2.5K) account review
- Salem Five Direct - 2.75% Checking (3.35% $100K+), account review
- Bank of America DoW - 2.65% MMA (min $5K), account review
- VirtualBank - 2.53% (min $100), (3.56% $25K+, 3.72% $50K+) post ($20 bonus)
- E-LOAN - 2.51% ($5K min), account review
- WaMu/Chase - 2.50% (requires checking), 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
- EverBank - 3.39% ($1.5K min) account review
- ebank - 3.25% (min $1K)
- UmbrellaBank - 3.25% (min $1K) account review
- Bank of America DoW - 3.11% (min $1K) account review
- Nationwide Bank - 3.00% (min $500) account review
- ETrade Bank - 2.60% (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
- ISN Bank - 4.18% (min $1K) account review
- Corus Bank - 4.15% (min $10K) account review
- Imperial Capital - 4.10% ($2K min), account review
- Sun Trust - 4.10% (7mo) (min $10K) 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
- Navy FCU - 4.00% ($10K min) restrictions to membership, account review
- E-LOAN - 4.00% ($10K min), account review
- HSBC Direct - 4.00% (min $10) NEW money, account review
- Citibank - 4.00% (min $500) account review
- GMAC Bank - 4.00% (min $500), account review
- Countrywide Bank - 3.90% (7-mo) (min $10K) account review
- ebank - 3.90% (min $1K)
- Tennessee Commerce Bank - 3.80% (min $5K)
- IndyMac Federal Bank - 3.80% (7-mo)(min $5K) account review
- Flagstar - 3.76% (min $500), account review
- Nationwide Bank - 3.75% (7mo) (min $500) account review
- La Jolla Bank - 3.75% (min $10K), account review
- EverBank - 3.75% ($1.5K min) account review
- FirstFedDirect - 3.75% (min $10K), account review
- Wachovia - 3.60% (7-mo) (min $5K) account review
- Zions Bank - 3.53% (min $1K) account review
- ING Direct - 3.50%, account review
- Doral Bank Direct - 3.50% (min $1K) account review
- UmbrellaBank - 3.50% (min $1K) account review
- Ascencia Bank - 3.49% (min $500), account review
- Greystone Bank - 3.48% (min $50K) account review
- Bank of America DoW - 3.11% (179 days) (min $1K) account review
- Capital One - 3.00% (min $5K) account review
- AmTrustDirect - 3.00% (min $1K) account review
- Bank of America - 2.90% (7-mo) (min $5K) account review
- ETrade Bank - 2.70% (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
- La Jolla Bank - 4.20% (10mo) (min $10K), 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
- Sovereign Bank - 4.00% (min $500) account review
- Digital Credit Union - 4.00% (8 mo) (min $500) account review
- Stonebridge Bank - 4.00% (min $500) account review
- Mountain America CU - 4.00% (min $1K) account review
- FirstFedDirect - 4.00% (min $10K) account review
- Fifth Third - 3.90% (min $5K), Not all states, account review
- GMAC Bank - 3.85% (min $500), account review
- Academy Bank - 3.80% (min $500), account review
- UmbrellaBank - 3.80% (min $1K) account review
- EverBank - 3.75% ($1.5K min) account review
- Citibank - 3.75% (min $500)
- ING Direct - 3.75% 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
- AmTrustDirect - 2.00% (min $1K) account review
12-Month Certificates of Deposit:
- Christian Community CU - 4.50% (min $500) not NCUA insured (ASI only) account review
- Delta Community CU - 4.50% (min $1K) account review
- VirtualBank - 4.45% (min $10K), account review
- Corus Bank - 4.45% (min $10K) account review
- Flagstar - 4.40% (min $500), account review
- BankUnited - 4.40% (min $5K) account review
- E-LOAN - 4.36% ($10K min), account review
- GMAC Bank - 4.36% (min $500), account review
- Tennessee Commerce Bank - 4.35% (min $5K)
- State Bank of India - 4.32% (min $5K) account review
- ebank - 4.30% (14 mo) (min $1K)
- Mountain America CU - 4.25% (15mo) (min $1K) account review
- Advanta Bank - 4.25% (min $10K), account review
- National City Bank - 4.25% (13-mo) (min $10K), req chk, account review
- Imperial Capital - 4.25% ($2K min), account review
- ebank - 4.25% (min $1K)
- La Jolla Bank - 4.25% (min $10K), account review
- ING Direct - 4.25% account review
- Sovereign Bank - 4.25% (min $500) account review
- CU of Georgia - 4.23% (min $50K), account review
- Pacific Mercantile Bank - 4.22% (min $10K) account review
- Melrose CU - 4.22% (min $5K) account review
- Century Bank Direct - 4.16% (15 mo) (min $1K) account review
- iGobanking - 4.15% (15mo) (min $500), account review
- KeyDirect - 4.15% (14mo) (min $5K), 4.40% w/chk, Not all states, account review
- EverBank - 4.15% ($1.5K min) account review
- Northrop Grumman FCU - 4.12% (min $40K), account review
- Academy Bank - 4.10% (min $500), account review
- UmbrellaBank - 4.10% (min $1K) account review
- Wachovia - 4.10% (min $5K) account review
- Mutual Bank - 4.10% (min $2.5K) account review
- Sun Trust - 4.10% (13mo) (min $2K) account review
- America's CU - 4.00% (15-mo) (min $500), Add-On Feature, account review
- FirstFedDirect - 4.00%, (min $10K) account review
- Indymac Federal Bank - 4.00% (min $5K) account review
- NASA FCU - 4.00% (11 mo) ($5K min) account review
- Fifth Third - 4.00% (13 mo) (min $5K), Not all states, account review
- Greystone Bank - 3.95% (min $50K) account review
- Discover Bank - 3.92% (min $2.5K) account review
- Alliant Credit Union - 3.90% (min $25K) account review
- Countrywide - 3.90% (min $10K), account review
- Bank of Internet - 3.82% (min $1K) account review
- Geauga Savings Bank - 3.75% (min $1K) account review
- Ascencia Bank - 3.65% (min $500), account review
- AmTrustDirect - 3.25% (min $1K) account review
- Navy FCU - 3.25% ($20K min) restrictions to membership, account review
- WaMu/Chase - 3.00% (min $1K), account review
- ETrade Bank - 2.90% (min $1K), account review
18-Month Certificates of Deposit:
- National City Bank - 5.00% (19-mo) (min $10K), req chk, account review
- Advanta Bank - 4.50% (min $10K), account review
- Digital Credit Union - 4.50% (16 mo) (min $500) account review
- Christian Community CU - 4.50% (min $500) not NCUA insured (ASI only) account review
- VirtualBank - 4.45% (min $10K), account review
- Capital One - 4.41% (min $5K) account review
- E-LOAN - 4.40% ($10K min) account review
- GMAC Bank - 4.40% (min $500) account review
- USA FCU - 4.35% (min $1K) account review
- Tennessee Commerce Bank - 4.30% (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
- 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
- Greystone Bank - 4.10% (min $50K) account review
- Flagstar - 4.05% (min $500), account review
- Doral Bank Direct - 4.00% (min $1K) account review
- Heritage Bank - 4.00% (min $5K) account review
- Alliant Credit Union - 3.90% (min $25K) account review
24-Month Certificates of Deposit:
- KeyDirect - 5.00% (29 mo) (min $5K), 5.25% w/chk, Not all states, account review
- 1st Source Bank - 4.51% (min $5K) account review
- VirtualBank - 4.50% (min $10K), account review
- GMAC Bank - 4.50% (min $500) account review
- Discover Bank - 4.45% (min $2.5K) account review
- E-LOAN - 4.45% ($10K min) account review
- Advanta Bank - 4.40% (min $10K), account review
- Melrose CU - 4.37% (min $5K) account review
- Intervest - 4.35% (min $2.5K), account review
- State Bank of India - 4.32% (min $5K) account review
- OnBank - 4.30% (min $500), account review
- Tennessee Commerce Bank - 4.30% (min $5K)
- iGObanking - 4.25% (min $500) account review
- KeyDirect - 4.25% (23 mo) (min $5K), 4.50% w/chk, Not all states, account review
- ING Direct - 4.25% account review
- Provident Direct - 4.25% (min $1K) bank review
- Greystone Bank - 4.25% (min $50K) account review
- Fifth Third - 4.25% (min $5K) not all states, account review
- M&T Bank - 4.18% (min $5K) account review
- Northrop Grumman FCU - 4.12% (min $40K), account review
- Heritage Bank - 4.10% (min $5K) account review
- Flagstar - 4.10% (min $500), 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
- 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
- E-LOAN - 4.55% ($10K min) account review
- Advanta Bank - 4.55% (min $10K), account review
- GMAC Bank - 4.55% (min $500) account review
- Huntington - 4.50% (min $1K) account review
- KeyDirect - 4.50% (min $5K), 4.75% w/chk, Not all states, account review
- M&T Bank - 4.50% (min $5K) account review
- VirtualBank - 4.50% (min $10K), account review
- Alliant Credit Union - 4.50% (min $25K) account review
- Fifth Third - 4.50% (37 mo) (min $5K) Not all states account review
- Western FCU - 4.49% (min $40K), account review
- Melrose CU - 4.47% (min $5K) account review
- OnBank - 4.45% (min $500), account review
- Northrop Grumman FCU - 4.40% (min $40K), account review
- State Bank of India - 4.32% (min $5K) account review
- Heritage Bank - 4.30% (min $5K) account review
- Tennessee Commerce Bank - 4.30% (min $5K)
- Greystone Bank - 4.30% (min $50K) 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
- NewDominion Bank - 4.00% (min $3K) account review
- ING Direct - 4.00%, account review
- Capital One - 4.00% (min $5K) (4.25% $100K+) 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
- USA FCU - 5.00% (min $1K) account review
- Flagstar - 5.00% (min $500), account review
- Capital One - 5.00% (min $5K) (5.05% $100K+) account review
- Pentagon Federal CU - 5.00% (min $1K), account review
- Third Federal - 5.00% (min $500) account review
- M&T Bank - 4.97% (min $5K) account review
- 1st Source Bank - 4.80% (min $500) account review
- E-LOAN - 4.76% ($10K min) account review
- Discover Bank - 4.75% (min $2.5K) account review
- Advanta Bank - 4.75% (min $10K), account review
- GMAC Bank - 4.75% (min $500) account review
- Melrose CU - 4.73% (min $5K) account review
- Western FCU - 4.65% (min $40K), account review
- OnBank - 4.65% (min $500), account review
- Northrop Grumman FCU - 4.58% (min $40K), account review
- KeyDirect - 4.50% (min $5K), 4.75% w/chk, Not all states, account review
- VirtualBank - 4.50% (min $10K), account review
- Heritage Bank - 4.40% (min $5K) account review
- Greystone Bank - 4.40% (min $50K) account review
- Tennessee Commerce Bank - 4.35% (min $5K)
- Patelco CU - 4.28% ($1K min), account review
- ING Direct - 4.00%, account review
- EverBank - 3.75% ($1.5K min) account review
60-Month Certificate of Deposit:
- Intervest - 5.25% (min $2.5K), account review
- Discover Bank - 5.21% (min $2.5K) account review
- E-LOAN - 5.15% ($10K min) (5.25% $100K+) account review
- Wachovia - 5.15% (min $5K) account review
- GMAC Bank - 5.15% (min $500) account review
- Melrose CU - 5.15% (min $5K) account review
- Mutual Bank - 5.10% (min $2.5K) account review
- Navy FCU - 5.10% ($20K min) (5.25% for $100K+) restrictions to membership, account review
- State Bank of India - 5.09% (min $5K) account review
- Advanta Bank - 5.05% (min $10K), account review
- Pentagon Federal CU - 5.00% (min $1K), account review
- KeyDirect - 5.00% (min $5K), 5.25% w/chk, Not all states, account review
- M&T Bank - 5.00% (min $5K) account review
- Provident Direct - 5.00% (min $1K) bank review
- Third Federal - 5.00% (min $500) account review
- OnBank - 4.90% (min $500), account review
- Northrop Grumman FCU - 4.89% (min $40K), account review
- Western FCU - 4.80% (min $40K) account review
- 1st Source Bank - 4.80% (min $500) account review
- EverBank - 4.75% ($1.5K min) account review
- US Bank - 4.65% (59 mo) (min $1K), Not all states, account review
- Mountain America CU - 4.60% (min $1K) account review
- VirtualBank - 4.60% (min $10K), account review
- Flagstar - 4.56% (min $500), account review
- Delta Community CU - 4.50% (min $1K) account review
- Heritage Bank - 4.50% (min $5K) account review
- Salem Five Bank - 4.50% (min $10K), account review
- ebank - 4.50% (min $1K) account review
- Capital One - 4.50% (min $5K) (4.70% $100K+) account review
- Greystone Bank - 4.50% (min $50K) account review
- Tennessee Commerce Bank - 4.50% (min $5K)
- 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
- ING Direct - 4.25%, account review
- Telcom Credit Union - 4.25% (min $500) 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 - 5.28% (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
- Pentagon Federal CU - 5.00% (min $1K), account review
- KeyDirect - 5.00% (min $5K) (5.50% 10yr), 5.25% w/chk, Not all states, 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 - 3.07% 7-day yield (reviews on Fatwallet)
- Vanguard Prime Money Market Fund - 2.77% 7-day yield
- TIAA-CREF Money Market Fund - 2.38% 7-day yeild
- Paypal Money Market Fund - 2.06% 7-day yield (1% cashback debit MasterCard)
- Vanguard Tax-Exempt Money Market Fund - 1.96% 7-day yield
- Fidelity Municipal Money Market Fund - 1.24% 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)
Featured Accounts
Related Posts
Useful Resources
Nationwide Savings Accounts
marc (anonymous) - #1, Sunday, November 2, 2008 - 10:13 AM
don't forget imperial capital savings II, 4% rate lock till Jan 20 (or FDIC takeover, whichever is first)
Anonymous - #2, Sunday, November 2, 2008 - 10:17 AM
I have a question that does't exactly relate to this post but since many people read this summary post I thought it would be a good place to get a response. I an thinking about opening a reward checking at Farners and Merchants bank and would like to hear some comments both good and bad from anyone who has this account. I like the 50000 max instead of 25000 at mosy banks. Thanks in advance for any help .
Trevor Plantagenent (anonymous) - #3, Sunday, November 2, 2008 - 7:09 PM
Hi Marc,
Good of you to remind everyone of the Imperial Capital Bank Savings II 4% account (rate guaranteed until Jan. 20, 2009). I laughed at what you wrote about whichever comes first (Jan 20, '09 or an FDIC takeover.)
I have a nice chunk of my money in this Savings II account, and I am very surprised that the bank is still in business. I expect the FDIC to swoop in any day now. (I am under the $250K FDIC limit, so I am not worried. If the bank that takes over Imperial lowers the rate, my money will be out of there very fast.)
Anonymous - #4, Thursday, November 6, 2008 - 3:39 AM
Just got a pitch from a credit union offering 5 year CDs with $250,000 NCUA insurance -- which is impossible!
Nowhere do they say in the pitch that the $250,000 insurance will end about 4 years before a 5 year CD would end.
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