E-LOAN continues to offer a $25 bonus for a one-year CD. In addition, the promotion offers a yield of 4.36% APY. Here's the link to the promotion page. The offer code is times25. The promotion is scheduled to last through 12/18/08.
I first mentioned this bonus on October 31st. At that time the 4.36% APY was also the standard 12-month CD yield. Since that time, CD rates have fallen. E-LOAN's standard 12-month CD yield is now only 4.01% APY. An APY of 4.36% is a top yield for a 12-month term. Note, I haven't confirmed with E-LOAN if this 4.36% APY still applies to the promo CD. I would assume it does based on the promo page and the small print. You may want to contact E-LOAN to verify. Update 11/26/08: A reader has reported receiving this 4.36% APY through this promotion yesterday.
Before the last post I had checked with an E-LOAN CSR about this promotion. I was told that these are only available for new E-LOAN customers. Existing deposit customers are not eligible.
There's also a $25 bonus for the Savings Account Plus account. Refer to my previous post for details about this promo. Unlike the CD, there are no promo rates for the savings account. The top rate for the Savings Plus Account (which requires $100 minimum monthly deposit) is 3.50% APY for a $100K balance. The yield for balances from $10K to $25K is only 3.10% APY.
E-LOAN's savings account rates have gone down quite a bit, and they've gone down in sneaky ways. For example, balances under $5K only earn 1% APY. Also, the rates for balances between $5K and $10K are low: 2.51% APY for standard savings and 2.66% APY for the Savings Plus.
For more details of these bonuses and accounts, please refer to:
FDIC Certificate # 34967). BPNA has a 3 star rating (adequate) at BauerFinancial and a 2 star rating (below peer group) at Bankrate.com. Both ratings are based on 6/30/08 data.
Credit goes to BestCashCow for noting the continued 4.36% APY on the promo CD.