Bank Deals Weekly Summary for March 28, 2009

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

We had another example this week of the risks of CDs from offshore banks. The SEC accused the Caribbean-based Millennium Bank of a ponzi scheme involving high-yield CDs that have long been advertised on the internet. According to the SEC, 375 US investors had $68 million in deposits with them. Checks that had been sent to Millennium Bank in St. Vincent and Grenadines were packaged and sent to a small company in California. That company then deposited those funds into their WaMu account. According to the SEC charges, the vast majority of those funds were misappropriated. None of the investor funds were used for any investment purposes. As is typical for a ponzi scheme, recent deposits of new investors were used to satisfy investors' liquidation requests (see post). As readers have mentioned, the amount of the deposits are relatively small when you consider how long Millennium Bank has been advertising on the web.

Investing in offshore CDs is not the only thing that can be risky. Going over the FDIC insurance limits, can also be risky. This was seen yesterday with the failure of Omni National Bank, the 21st bank failure for 2009. Unlike most bank failures this year, this bank failure will likely result in loss by those who had deposits over the FDIC limits. Fortunately, the amount of possible uninsured deposits was relatively small compared with previous failures. Most depositors with over the FDIC limits at the failed banks this year have been lucky. Out this year's 21 failures, 16 of the failures involved all-deposit transfers in which the assuming banks acquired all of the failed banks' deposits, even those above the FDIC limits (see post).

For those who want safety along with some inflation protection, the Series I Savings Bond is something to consider. I reviewed the current 5.64% rate for I Bonds and looked into what may happen when the new inflation rate is set in May. It doesn't look good. May's inflation component will likely be at least negative four percent. If this happens, all I Bonds purchased before May will have six months with a rate of 0%. A negative inflation component can cause the composite rate to be to 0%, but it can never reduce it to below 0%. That 6-month period will start between May and October based on your I Bond's anniversary's date.

There is a potential opportunity with the negative I Bond inflation component. This may encourage the Treasury to make a significant increase in the fixed rate for May. Currently, it's only 0.70%. The Treasury has been very stingy with this fixed rate for over six years, so I'm not optimistic. If there is a large increase in the fixed rate, this will be a good buying opportunity for those interested in the I Bond for the long term. Even if there is a large bump in the fixed rate, the opportunity is limited due to the $10K annual purchase limit for I Bonds. If you have more to invest, you may want to look into TIPS. The Treasury has a good comparison between I Bonds and TIPS at this this Treasury Direct webpage.

Savings Account Rates

There is some good news in savings account rates. The number of rate cuts went down this week compared to previous weeks. Perhaps we're nearing a bottom for rates. However, I continued to be unpleasantly surprised by some banks in how much they're cutting rates. This week it came from ETrade Bank which cut its Complete Savings Account rate from 1.70% APY to 1.45% APY.

3-percent-plus savings accounts may not be lasting too much longer. Readers have reported pending rate cuts by three of the institutions offering 3%+ savings accounts: SmartyPig, Alliant Credit Union and Centennial Bank.

For those who are getting tired of watching their savings account rates fall, Acacia Federal Savings Bank is offering a savings account with a 2.25% APY guaranteed through 9/30/09. It's not the best rate, but if you want both a rate lock and liquidity, this is a good deal (see post). Higher rates are available for 3 months guarantees at EverBank (see post) and 1st Constitution Bank (see post).

Below is the list of rate cuts that have occurred this week.

Rate Hikes:

1. None

Rate Cuts:

1. Alliant CU Savings - 2.75% starting 4/01 according to reader (was 3.00%)
2. Bank Provident Online - 2.00% (was 2.15%)
3. Discover MMA - 1.80% to 2.00% (was 1.90% to 2.11%)
4. Citi Ultimate Savings - 1.75% (was 1.85%)
5. ETrade Complete Savings - 1.45% (was 1.70%)
6. Imperial Capital iChecking - 1.50% (was 1.60%)
7. Salem Five Direct - 1.65% $100K+ (was 1.85%)
8. AARP Financial Sav Cntr - 1.05% (was 1.15%)
9. VirtualBank eMM - 1.87% $25K, 2.12% $50K (was 2.02%, 2.22%)
10. GMAC Bank Savings - 2.25% (was 2.50%)
11. GMAC Bank MMA - 1.90% (was 2.00%)
12. SmartyPig - 3.05% starting Apr 1st according to reader (was 3.25%)
13. Clear Sky Savings - 2.15% (was 2.50%) - still not accepting new accounts
14. Corus Bank MMA - 2.30% (was 2.32%)
15. Nationwide MMA - 2.29% (was 2.39%)

Certificate of Deposit Rates

Like savings account rates, there appears to be some slowing of CD rate cuts. However, cuts continue especially on terms of one year and under. One example is GMAC Bank which cut its 1-year CD rate from 2.85% to 2.65% APY. We also saw more cuts at credit unions, and we'll likely see more next week with the new month.

Amboy Direct has come out with an Add-On 12-month CD with a rate of 2.50% APY for balances over $10K. It allows add-ons up to a maximum balance of $100K. The minimum initial deposit is only $100, but the rate under $10K is only 1%. Like the savings account offered by Acacia, the rates are not the best, but it allows you to hedge against more falling rates (see post).

Refer to the list below for a few of the best nationwide CD deals. The full list of nationwide CD rates is farther down.

1. 2.75% 6-mo CD at Navy FCU (account review)
2. 2.65% 9-mo CD at OneWest Bank/IndyMac (account review)
3. 3.00% 11-mo CD at Connexus CU (account review)
4. 3.56% 12-mo CD & Other High CD Rates at Gateway Regional CU (account review)
5. 3.19% 12-mo CD at Melrose CU (account review)
6. 3.15% 12-mo & 4% 48-mo CD at Alliant CU (account review)
7. 3.00% 14-mo CD at Charter Bank (account review)
8. 2.50% 12mo Add-On CD at Amboy Direct (account review)
9. 3.10% 24-mo CD at GMAC Bank (account review)
10. 4.00% 60-mo CD at MACU - small penalty (account review)
11. 4.00% 60-mo CD at Pentagon FCU (account review)

I also posted on some good CD deals from banks and credit unions that don't offer accounts nationwide. Refer to the recap below for the full list. Here are some of the best deals to note.

1. 3.29% 6-mo CD & 3.87% 15-mo CD at Progressive CU in NY, NY (account review)
2. 3.00% 9-mo CD & 4.25% 5-yr CD at First Priority CU in MA (account review)
3. 3.50% 12-mo CD at First National Bank of the South in SC, Ends 3/31 (account review)
4. 3.50% 12-mo & 3.00% 9-mo CD at FirstBank in NJ (account review)
5. 3.25% 12-mo CD at Self Reliance New York FCU (account review)
6. 3.25% 17-mo CD at Royal Asian Bank & Royal Bank America in PA, NY & NJ (account review)
7. 3.20% 24-mo CD at Park Cities Bank in Dallas (account review)
8. 4.84% 60-mo & 3.44% 24-mo CD at a Credit Union in MD (account review)
9. 4.50% 60-mo CD & 4% 39-mo CD at Urban Trust Bank in FL & MD (account review)

Reward Checking Accounts

I posted on 4 new reward checking accounts this week with 3 of the 4 accounts with rates of 5% APY. These accounts are gaining attention by the media. I posted on a new Bankrate article on reward checking accounts and commentary by Clark Howard which provide more insights about how banks are able to offer high rates on these accounts.

For my full list of reward checking accounts around the nation, please refer to my High Yield Checking website. For reward checking accounts available nationally, please refer to my nationwide table.

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

Banking News

• 21st Bank Failure of 2009: Omni National Bank in Georgia
• SEC Halts CD Ponzi Scheme Involving Caribbean-Based Millennium Bank
• Series I Savings Bonds Considerations for the Short Term and Long Term
• Lessons from the Stanford Financial Mess and Foreign CD Options

Savings/Checking Accounts - National

• 2.25% Savings Account Guaranteed to 9/30/09 at Acacia Federal Savings Bank - Nationally Available

CD Deals - National

• 2.75% 12-Month CD and Other Competitive CD Rates at First Trade Union Bank - Available Nationwide
• Amboy Direct's New Add-On CD (eSavings Time Deposit) - Nationally Available

Checking/Savings Account Bonuses

• $50 New Account Bonus at Capital One Direct Banking - Nationally Available
• $50 Checking Account Bonus at AnchorBank - Wisconsin Only

Reward Checking Accounts

• Media and Consumer Advocates Report on the Value of Reward Checking Accounts
• 5.01% Reward Checking Account at Douglas National Bank in Georgia
• 4.00% Reward Checking Account at Orrstown Bank in PA & MD
• 5.00% Reward Checking Account at 1st Financial FCU in Missouri
• 5.00% Reward Checking Account at Guaranty Bank in Missouri

CD and Money Market Deals - Local

• 3.25% 12-Month CD & Other High CD Rates at Visions FCU in NY & PA
• 3.50% 12-Month CD at First National Bank of the South in South Carolina - Local Only
• Competitive Rates on Unlock CDs at Cadence Bank (FL, TN, ...)
• 3.00% 18-Month CD, 3.25% 23-Month CD & Other High CD Rates at First American Credit Union in WI & IL
• Installment Savings Account with Rates of up to 5.39% at Pacific City Bank - Los Angeles Area Only
• 3.50% Installment Savings Account for Terms of 1 to 3 Years at MetroBank - Texas Only
• 3.00% 12-Month CD & 3.75% 39-Month CD at First Peoples Community FCU in MD, PA & WV
• 3.03% 9-Month CD, 3.15% 12-Month CD & Other High CD Rates at Community Bank of Nevada - EXPIRED
• 2.80% 7-Month CD & 2.95% 14-Month CD at Far West Bank - UT Only (lower rates in WA & ID)
• 3.03% 8-Month CD at Southwest Community FCU in UT, NV & AZ
• 3.25% 17-Month CD at Royal Asian Bank & Royal Bank America in PA, NY and NJ
• 3.00% 24-Month CD & 2.75% 11-Month CD Continue at Colonial Bank (FL, TX, ...)
• 3.20% 24-Month CD at Park Cities Bank - Dallas Area Only
• 4.08% 12-Month Online Installment Savings Account at Nara Bank - EXPIRED
• 3.00% 13-Month CD & 3.40% 24-Month CD at AnchorBank - Wisconsin Only

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 at this page. Quick Links: Refer to the following links for the savings accounts and CDs that interest you: Liquid Account Rates: Savings Accounts, Reward Checking, 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 March 28, 2009

Checking/Savings/Money Market Accounts:

• Reward Checking Accounts with Yields up to 6.01%

• SmartyPig - 3.25% (scheduled to fall to 3.05% on 4/01) (min $25) account review
• Redneck Bank - 3.10% (up to $35K, 1.65% over) account review
• Centennial Bank - 3.05% ($50K min), 3.30% ($100K min) account review
• Broadway Federal Bank - 3.05% ($1K min) account review
• First Trade Union Bank - 3.04% ($2.5K min) account review
• Alliant Credit Union - 3.00% (scheduled to fall to 2.75% on 4/01) (min $100) account review
• 1st Constitution Direct - 2.95% (min $100), 3 mo promo (2.50% stnd rate) account review
• ShoreBank - 2.80%, account review
• FNCB Bank - 2.75% (min $100) account review
• EverBank - 2.54% ($1.5K min), 3 mo promo rate of 2.51%, account review
• ADB Bank - 2.50% account review
• Danversbank - 2.50% account review
• Flagstar - 2.40% MMA, account review
• Mutual Bank - 2.35% MMA 3mo promo, (min $5K), account review
• CNB Bank Direct - 2.30% account review
• Savings Square - 2.30%, account review
• Heartland Bank Direct - 2.30% ($500 min), account review
• Corus Bank - 2.30% MMA (min $10K) account review
• Nationwide Bank - 2.29% MMA (min $1K) account review
• OneUnited - 2.25% (min $1K), account review
• Union Federal Savings - 2.25% account review
• Amegy Bank - 2.25% (min $10K) account review
• OneWest Bank/Indymac - 2.25% (min $1K) account review
• Presidential Bank - 2.25% (min $5K, 1.50% over $35K), offers 2% checking, account review
• GMAC Bank - 2.25% Savings (min $500) account review
• Acacia Federal Savings Bank - 2.25% (guaranteed to 9/30/09) account review
• Zions Bank - 2.17% MMA, outside of Utah, (min $2.5K) account review
• Hudson City Savings - 2.15% (min $2.5K) account review
• grand yield direct - 2.15% (min $2.5K) account review
• FNBO Direct - 2.15%, account review
• Clear Sky Accounts - 2.15% (not accepting new customers) account review
• UmbrellaBank - 2.12% MMA (min $1K) 2.50% ($25K+) account review
• Provident Direct - 2.10%, account review
• CapitalOne/Costco - 2.06% Savings (min $10K, Costco members only, $60 deal for exec. members)
• DollarSavingsDirect - 2.05% ($1K min) account review
• EverBank - 2.03% MMA ($1.5K min) account review
• Amboy Direct - 2.02% (min $3K) (eSavings) account review ($50 bonus)
• AmboyDirect - 2.02% (Premium Savings) post ($25 bonus)
• WTDirect - 2.01% ($10K min), account review
• Capital One - 2.01% (Savings) (min $10K) account review
• Venture Bank Direct - 2.00%, account review
• Bank of Internet - 2.00% (min $100) account review
• Charles Schwab - 2.00% Savings, account review
• Bank Provident Online - 2.00% (min $10) account review
• Century Bank Direct - 1.99% Savings (min $100) account review
• GMAC Bank - 1.90% MMA (min $500) account review
• Century Bank Direct - 1.89% MMA (min $1K) account review
• HSBC Direct - 1.85% account review
• iGObanking - 1.85%, account review
• CapitalOne/Costco - 1.80% MMA (min $1K, Costco members only, $60 deal for exec. members)
• Discover Bank - 1.80% MMA (min $2.5K) (2.00% for $50K+) account review
• BankUnited - 1.75% (min $5K), account review
• H&R Block Bank - 1.75% ($50K min) account review
• Citibank - 1.75% (Ultimate Savings) account review
• Bank of Internet - 1.70% MMA (min $100) account review
• Century Bank Direct - 1.65% Checking (min $100) account review
• EmigrantDirect - 1.65%, account review
• Countrywide - 1.65% (min $10K) (1.75% for $50K+) account review
• Capital One - 1.60% MMA, account review
• Imperial Capital - 1.55% MMA ($2.5K min) (2.15% for $100K+) account review
• Salem Five Direct - 1.50% Checking (1.65% $100K+), account review
• ING Direct - 1.50%, (0.25% checking), post ($25 bonus)
• UnivestDirect - 1.50%, (0.40% checking), account review
• Imperial Capital - 1.50% Checking (min $1K) account review
• ETrade Bank - 1.45%, account review
• Bank of America NEA - 1.40% MMA ($500 min) (1.50% for $50K+) account review
• E-LOAN - 1.30% Savings Plus ($10K min) (1.60% for $50K+) account review
• Bank of Internet - 1.30% Checking (min $5K) account review
• AmTrustDirect - 1.25% ($500 min) NEW e-Money Market (1.50% $10K+) account review
• GCF Bank - 1.20% (min $100), 3-mo promo, account review
• Transportation Alliance Bank - 1.20%, ($25 min), account review
• UFB Direct - 1.05% Absolute Savings (min $15K)
• Rainier Pacific - 1.05% MMA, account review
• AARP Financial Savings Center - 1.05%, AARP membership req, account review
• VirtualBank - 1.01% (min $100), (1.87% $25K+, 2.12% $50K+) post ($20 bonus)
• Charles Schwab - 1.00% Checking, account review
• iGObanking - 1.00% Checking, account review
• WaMu/Chase - 0.85% (requires checking), account review
• E-LOAN - 0.81% ($5K min), account review
• OnBank - 0.75%, account review
• ETrade Bank - 0.75% Checking (min $5K) account review
• M&T Bank - 0.75%, account review
• UFB Direct - 0.75%, Travelers Savings (min $10K) account review

3-Month Certificates of Deposit:

• Danversbank - 3.00% (4 mo) (min $500) account review
• eBank - 2.00% (min $1K)
• Hudson City Savings - 2.00% (min $5K) account review
• UmbrellaBank - 1.90% (min $1K) account review
• GMAC Bank - 1.75% (min $500), account review
• Imperial Capital - 1.60%, ($2K min), account review
• EverBank - 1.40% ($1.5K min) account review
• VirtualBank - 1.36% (min $10K), account review
• Nationwide Bank - 1.20% (min $500) account review
• UFB Direct - 1.20% (min $8K)
• E-LOAN - 0.85% ($10K min), account review
• H&R Block Bank - 0.75% (min $250) account review
• ETrade Bank - 0.60% (min $1K), account review

6-Month Certificates of Deposit:

• Navy FCU - 2.75% ($10K min) restrictions to membership, account review
• Christian Community CU - 2.50% (7-mo) (min $1K) not NCUA insured (ASI only) account review
• eBank - 2.40% (min $1K)
• Corus Bank - 2.32% (min $10K) account review
• Ascencia Bank - 2.31% (min $500), account review
• UFB Direct - 2.30% (min $8K)
• State Bank of India - 2.27% (min $5K) account review
• Bank of America DOW - 2.25% (min $1K) account review
• GMAC Bank - 2.25% (min $500), account review
• UmbrellaBank - 2.25% (min $1K) account review
• Hudson City Savings - 2.25% (min $5K) account review
• BankUnited - 2.25% (7-mo) (min $5K) account review
• La Jolla Bank - 2.15% (min $10K), account review
• FirstFedDirect - 2.15% (min $10K), account review
• Tennessee Commerce Bank - 2.15% (min $5K)
• Firstmark CU - 2.15% (min $50K) account review
• Northrop Grumman FCU - 2.14% (min $40K), account review
• Imperial Capital - 2.10% ($2K min), account review
• Air Force FCU - 2.05% (min $25K) membership restrictions account review
• Flagstar - 2.01% (min $500), account review
• Earthstar Bank - 2.00% (min $500) account review
• Excel National Bank - 2.00% (min $10K) account review
• Citibank - 2.00% (7-mo) (min $500) account review
• EverBank - 1.95% ($1.5K min) account review
• VirtualBank - 1.92% (min $10K), account review
• ISN Bank - 1.61% (min $1K) account review
• Century Bank Direct - 1.61% (5 mo) (min $1K) account review
• Nationwide Bank - 1.60% (min $500) account review
• Zions Bank - 1.51% (min $1K) account review
• FNBO Direct - 1.50% (min $500) account review
• Greystone Bank - 1.25% (min $50K) account review
• OneWest Bank/IndyMac - 1.25% (min $5K) account review
• ING Direct - 1.25%, account review
• HSBC Direct - 1.25% (min $10) account review
• H&R Block Bank - 1.00% (min $250) account review
• E-LOAN - 1.00% ($10K min), account review
• ETrade Bank - 0.85% (min $1K), account review
• AmTrustDirect - 0.35% (min $10K) account review
• Capital One - 0.25% (min $5K) account review

9-Month Certificates of Deposit:

• OneWest Bank/Indymac - 2.65% (min $5K) account review
• Consumers CU - 2.50% (min $250) (2.75% $100K+) account review
• BankUnited - 2.50% (min $5K) account review
• UmbrellaBank - 2.40% (min $1K) account review
• GMAC Bank - 2.30% (min $500), account review
• FirstFedDirect - 2.15% (min $10K) account review
• Imperial Capital - 2.10% ($2K min), account review
• NewDominion Bank - 2.10% (min $3K) account review
• 1st Mariner Bank - 2.00% (10 mo) (min $100/max $50K) requires chk, account review
• Bank of America - 2.00% (min $5K), risk-free, not all states (account review)
• VirtualBank - 1.97% (min $10K), account review
• EverBank - 1.95% ($1.5K min) account review
• MetLife Bank - 1.90% (min $50K) account review
• Century Bank Direct - 1.71% (10 mo) (min $1K) account review
• Academy Bank - 1.70% (min $500), account review
• WaMu/Chase - 1.50% (8 mo) (min $1K), account review
• iGobanking - 1.25% (min $1K) account review
• ING Direct - 1.25% account review
• E-LOAN - 1.25% ($10K min), account review
• Bank of Internet - 1.10% (min $1K) account review
• AmTrustDirect - 0.35% (min $10K) account review

12-Month Certificates of Deposit:

• Gateway Regional CU - 3.56% (min $1K) restrictions to membership, account review
• Melrose CU - 3.19% (min $5K) account review
• Alliant Credit Union - 3.15% (min $25K) account review
• Southeast Financial FCU - 3.10% (min $500) account review
• Charter Bank - 3.00% (14 mo) (min $5K) account review
• Connexus CU - 3.00% (11 mo) (min $1K) account review
• Delta Community CU - 2.85% (min $1K) account review
• Corus Bank - 2.81% (min $10K) account review
• H&R Block Bank - 2.75% (min $250) account review
• Tennessee Commerce Bank - 2.75% (min $5K)
• UmbrellaBank - 2.75% (min $1K) account review
• BankUnited - 2.75% (min $5K) account review
• Crane FCU - 2.73% (min $500) account review
• State Bank of India - 2.73% (min $5K) account review
• Bank of America - 2.65% (min $10K) not all states, account review
• Acacia Federal Savings Bank - 2.65% (15 mo) (min $500) account review
• UFB Direct - 2.65% (min $8K)
• GMAC Bank - 2.65% (min $500), account review
• Mutual Bank - 2.60% (min $2.5K) account review
• Intervest - 2.55% (min $2.5K), account review
• Ascencia Bank - 2.51% (min $500), account review
• Amboy Direct - 2.50% Add-On (min $10K) account review
• Christian Community CU - 2.50% (min $1K) not NCUA insured (ASI only) account review
• Citibank - 2.50% (min $500)
• Imperial Capital - 2.50% ($2K min), account review
• eBank - 2.50% (min $1K)
• Hudson City Savings - 2.50% (min $5K) account review
• Credit Union of Georgia - 2.48% (min $50K), account review
• Pacific Mercantile Bank - 2.43% (min $10K) account review
• Mountain America CU - 2.40% (min $1K) account review
• FirstFedDirect - 2.40%, (min $10K) account review
• NewDominion Bank - 2.40% (min $3K) account review
• La Jolla Bank - 2.35% (min $10K), account review
• Discover Bank - 2.35% (min $2.5K) account review ($50 bonus)
• Fifth Third - 2.30% (11 mo) (min $5K), Not all states, account review
• HSBC Direct - 2.30% (min $10) account review
• Navy FCU - 2.30% ($20K min) restrictions to membership, account review
• Air Force FCU - 2.30% (min $25K) membership restrictions account review
• EverBank - 2.25% ($1.5K min) account review
• Earthstar Bank - 2.20% (min $500) account review
• Geauga Savings Bank - 2.20% (min $1K) account review
• Advanta Bank - 2.10% (min $10K), account review
• National Bank of KC - 2.10% (min $10K) account review
• Flagstar - 2.01% (min $500), account review
• Northrop Grumman FCU - 2.01% (min $40K), account review
• OneWest Bank/IndyMac - 2.00% (min $5K) account review
• KeyDirect - 2.00% (11 mo) (min $5K), 2.25% w/chk, Not all states, account review
• FNBO Direct - 2.00% (min $500) account review
• Nationwide Bank - 2.00% (min $500) account review
• Northwest FCU - 1.96% (min $500) add-on, account review
• Academy Bank - 1.90% (min $500), account review
• Century Bank Direct - 1.81% (15 mo) (min $1K) account review
• iGobanking - 1.75% (15 mo) (min $500), account review
• E-LOAN - 1.75% ($10K min), account review
• ING Direct - 1.50% account review
• Bank of Internet - 1.50% (min $1K) account review

18-Month Certificates of Deposit:

• Gateway Regional CU - 3.61% (min $1K) restrictions to membership, account review
• Southeast Financial FCU - 3.25% (min $500) account review
• Alliant Credit Union - 3.15% (min $25K) account review
• Dime Savings Bank - 3.00% IRA Only (min $500) account review
• First Trade Union Bank - 2.90% (min $500) account review
• Tennessee Commerce Bank - 2.80% (min $5K)
• NorthEast Community Bank - 2.79% (min $500) account review
• Mutual Bank - 2.75% (16 mo) (min $2.5K) account review
• Consumers CU - 2.75% (16-mo) (min $250) (3.00% $100K+) account review
• Intervest - 2.75% (min $2.5K), account review
• GMAC Bank - 2.70% (min $500) account review
• UmbrellaBank - 2.70% (min $1K), account review
• eBank - 2.60% (min $1K)
• NewDominion Bank - 2.55% (min $3K) account review
• Christian Community CU - 2.50% (min $1K) not NCUA insured (ASI only) account review
• Discover Bank - 2.50% (min $2.5K), account review
• H&R Block Bank - 2.50% (min $250) account review
• Dollar Savings Direct - 2.50% (16-mo) (min $1K) account review
• HSBC Direct - 2.35% (min $10) account review
• Advanta Bank - 2.30% (min $10K), account review
• VirtualBank - 2.28% (min $10K), account review
• EverBank - 2.25% ($1.5K min) account review
• USA FCU - 2.20% (min $1K) account review
• Greystone Bank - 2.00% (min $50K) account review
• Wachovia - 2.00% (17 mo) varies by state (min $5K) account review
• E-LOAN - 1.95% ($10K min) account review
• Century Bank Direct - 1.91% (20 mo) (min $1K) account review
• ING Direct - 1.50%, account review
• Capital One - 1.50% (min $5K) account review
• OnBank - 1.25% (min $500), account review

24-Month Certificates of Deposit:

• Gateway Regional CU - 3.81% (min $1K) restrictions to membership, account review
• Melrose CU - 3.34% (min $5K) account review
• Alliant Credit Union - 3.30% (min $25K) account review
• Southeast Financial FCU - 3.25% (min $500) account review
• GMAC Bank - 3.10% (min $500) account review
• Consumers CU - 3.00% (22-mo) (min $250) (3.25% $100K+) account review
• Tennessee Commerce Bank - 2.90% (min $5K)
• Intervest - 2.85% (min $2.5K), account review
• Fifth Third - 2.85% (min $5K) not all states, account review
• eBank - 2.85% (min $1K)
• UFB Direct - 2.85% (min $8K)
• State Bank of India - 2.83% (min $5K) account review
• State Farm Bank - 2.77% (21 mo) (min $500) account review
• Discover Bank - 2.75% (min $2.5K) account review
• H&R Block Bank - 2.75% (min $250) account review
• FNBO Direct - 2.75% (min $500) account review
• KeyDirect - 2.75% (29 mo) (min $5K), 3.00% w/chk, Not all states, account review
• Credit Union of Georgia - 2.73% (min $50K), account review
• Air Force FCU - 2.70% (min $25K) membership restrictions account review
• NewDominion Bank - 2.65% (min $3K) account review
• Firstmark CU - 2.65% (min $50K) account review
• Advanta Bank - 2.60% (min $10K), account review
• Mountain America CU - 2.50% (min $1K) account review
• 1st Source Bank - 2.50% (min $5K) account review
• Crane FCU - 2.48% (min $500) account review
• Northwest FCU - 2.35% (min $500) add-on, account review
• Nationwide Bank - 2.25% (min $500) account review
• E-LOAN - 2.20% ($10K min) account review
• MetLife Bank - 2.20% (min $50K) account review
• KeyDirect - 2.00% (min $5K), 2.25% w/chk, Not all states, account review
• Capital One - 2.00% (min $5K) (2.10% $100K+) account review
• iGobanking - 2.00% (min $500), account review

36-Month Certificate of Deposit:

• Navy FCU - 4.10% (30mo IRA-only) ($15K min) restrictions to membership, account review
• Gateway Regional CU - 3.98% (min $1K) restrictions to membership, account review
• Alliant Credit Union - 3.75% (min $25K) account review
• Pentagon Federal CU - 3.50% (min $1K), account review
• Melrose CU - 3.49% (min $5K) account review
• GMAC Bank - 3.20% (min $500) account review
• Acacia Federal Savings Bank - 3.15% (min $500) account review
• Intervest - 3.15% (min $2.5K), account review
• State Bank of India - 3.14% (min $5K) account review
• Tennessee Commerce Bank - 3.10% (min $5K)
• UFB Direct - 3.05% (min $8K)
• H&R Block Bank - 3.00% (min $250) account review
• eBank - 3.00% (min $1K)
• Agriculture FCU - 2.90% (min $1K) account review
• Discover Bank - 2.90% (min $2.5K) account review
• Northrop Grumman FCU - 2.82% (min $40K), account review
• Advanta Bank - 2.80% (min $10K), account review
• Mountain America CU - 2.75% (min $1K) account review
• KeyDirect - 2.75% (min $5K), 3.00% w/chk, Not all states, account review
• NewDominion Bank - 2.75% (min $3K) account review
• Nationwide Bank - 2.70% (min $500) account review
• Air Force FCU - 2.70% (min $25K) membership restrictions account review
• Northwest FCU - 2.57% (min $25K) account review
• Western FCU - 2.55% (min $40K), account review
• 1st Source Bank - 2.50% (min $500) account review
• E-LOAN - 2.45% ($10K min) account review
• Bank of Internet - 2.25% (min $1K) account review
• Flagstar - 2.20% (min $500), account review
• Capital One - 2.00% (min $5K) account review

48-Month Certificate of Deposit:

• Gateway Regional CU - 4.08% (min $1K) restrictions to membership, account review
• Alliant Credit Union - 4.00% (min $25K) account review
• Pentagon Federal CU - 3.75% (min $1K), account review
• Melrose CU - 3.65% (min $5K) account review
• Intervest - 3.55% (min $2.5K), account review
• Acacia Federal Savings Bank - 3.40% (min $500) account review
• GMAC Bank - 3.25% (min $500) account review
• Mountain America CU - 3.25% (min $1K) account review
• Tennessee Commerce Bank - 3.25% (min $5K)
• H&R Block Bank - 3.15% (min $250) account review
• Discover Bank - 3.15% (min $2.5K) account review
• Bank of America DOW - 3.11% (min $1K) account review
• Advanta Bank - 3.00% (min $10K), account review
• KeyDirect - 3.00% (min $5K), 3.25% w/chk, Not all states, account review
• Countrywide - 3.00% (min $10K), account review
• Nationwide Bank - 3.00% (min $500) account review
• Third Federal - 3.00% (min $500) account review
• Flagstar - 3.00% (min $500), account review
• Western FCU - 2.87% (min $40K), account review
• USA FCU - 2.80% (min $1K) account review
• 1st Source Bank - 2.80% (min $500) account review
• National Bank of KC - 2.75% (min $10K) account review
• Northwest FCU - 2.68% (min $25K) account review
• E-LOAN - 2.65% ($10K min) account review
• Capital One - 2.50% (min $5K) account review
• Patelco CU - 2.27% ($1K min), account review

60-Month Certificate of Deposit:

• Gateway Regional CU - 4.60% (min $1K) restrictions to membership, account review
• Melrose CU - 4.06% (min $5K) account review
• Mountain America CU - 4.00% (min $1K) account review
• Pentagon Federal CU - 4.00% (min $1K), account review
• Alliant Credit Union - 4.00% (min $25K) account review
• Connexus CU - 4.00% (min $1K) account review
• Acacia Federal Savings Bank - 3.80% (min $500) account review
• Agriculture FCU - 3.75% (min $1K), account review
• Intervest - 3.66% (min $2.5K), account review
• Apple FCU - 3.60% (min $50K) account review
• Firstmark CU - 3.55% (min $50K) account review
• US Bank - 3.50% (59 mo) (min $1K) account review
• Telcom Credit Union - 3.50% (min $500) account review
• Delta Community CU - 3.50% (min $1K) account review
• GMAC Bank - 3.50% (min $500) account review
• KeyDirect - 3.50% (min $5K), 3.75% w/chk, Not all states, account review
• Consumers CU - 3.50% (59-mo) (min $250) (3.75% $100K+) account review
• Discover Bank - 3.50% (min $2.5K) account review
• UFB Direct - 3.50% (min $8K)
• Salem Five Bank - 3.50% (min $10K), account review
• State Bank of India - 3.44% (min $5K) account review
• Mutual Bank - 3.40% (min $2.5K) account review
• Navy FCU - 3.35% ($20K min) (3.50% for $100K+) restrictions to membership, account review
• Nationwide Bank - 3.30% (min $500) account review
• Credit Union of Georgia - 3.30% (min $50K), account review
• E-LOAN - 3.25% ($10K min) account review
• H&R Block Bank - 3.25% (min $250) account review
• Third Federal - 3.25% (min $500) account review
• USA FCU - 3.20% (min $1K) account review
• Advanta Bank - 3.20% (min $10K), account review
• EverBank - 3.15% ($1.5K min) account review
• Northwest FCU - 3.13% (min $25K) account review
• 1st Source Bank - 3.00% (min $500) account review
• Flagstar - 3.00% (min $500), account review
• Dollar Savings Direct - 3.00% (min $1K) account review
• Western FCU - 2.96% (min $40K) account review
• Air Force FCU - 2.90% (min $25K) membership restrictions account review
• University FCU - 2.60% (min $2.5K), account review
• Capital One - 2.50% (min $5K) account review
• WaMu/Chase - 2.50% (min $1K) account review
• Patelco CU - 2.45% ($1K min), account review

84-Month Certificate of Deposit:

• Pentagon Federal CU - 4.00% (min $1K), account review
• Navy FCU - 4.00% ($20K min) restrictions to membership, account review
• Third Federal - 3.75% (6-yr) (min $500) account review
• Discover Bank - 3.70% (min $2.5K) account review
• Intervest - 3.67% (min $2.5K), account review
• KeyDirect - 3.50% (min $5K) 3.75% w/chk, Not all states, account review
• Capital One/Costco - 2.55% (min $5K) account review
• Capital One - 2.50% (min $5K) account review
• Countrywide - 2.10% (min $10K), account review
• WaMu/Chase - 1.50% (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

• Reward Checking Accounts Available Nationwide

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
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• 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
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• 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 - 3.00% rate for $50k+
• Fidelity Money Market Fund - 0.97% 7-day yield (reviews on Fatwallet)
• Vanguard Prime Money Market Fund - 0.74% 7-day yield
• Vanguard Tax-Exempt Money Market Fund - 0.68% 7-day yield
• TIAA-CREF Money Market Fund - 0.60% 7-day yeild
• Paypal Money Market Fund - 0.29% 7-day yield (1% cashback debit MasterCard)
• Fidelity Municipal Money Market Fund - 0.28% 7-day yield
• FW Thread on Treasury Bills
• I Bonds for 2009, I Bond Article, I Bonds as CD Alternatives

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