Bank Deals Weekly Summary for August 8, 2009
Aug 8, 2009 - 4:02 PM by Ken Tumin
Hot Deals, Quick Link for Rates, Recap of this week's posts
There were more signs this week that we may be nearing the end of the recession. As Bloomberg reported, "The pace of U.S. job losses slowed more than forecast last month and the unemployment rate dropped for the first time in more than a year, the clearest signs yet the worst slump since the Great Depression may be ending."
An improving economy should eventually lead to higher deposit rates. However, with high unemployment likely to last for a while and with more banks failing, the recovery may not be quick. Nouriel Roubini (aka Dr. Doom) sees a double-dip recession. As the WSJ reported, Roubini expects unemployment to peak in 2010. Bernanke has implied that as long as unemployment remains high, the Fed will likely hold steady with interest rates near zero. Before getting mad at Bernanke, consider that even Roubini gives credit to Bernanke in preventing a depression. In addition, Roubini has recommended that Bernanke be reappointed as the Fed Chairman in January. So with the potential for a long recovery and with Bernanke determined not to hike rates too soon, interest rates may stay low for a while.
There were three more bank failures yesterday. All three were small, and the FDIC arranged for buyers to assume all regular deposits, even those above the FDIC limit. We'll likely see some large bank failures in the coming weeks. There were more reports this week of problems at Guaranty Bank (in TX/CA), Corus Bank and Colonial Bank.
Savings Account Rates
This was another week of many rate cuts. When ETrade Bank cut its Complete Savings Account rate to under 1% in May, I thought it had hit bottom. However, this week ETrade Bank cut the rate from 0.95% to 0.80%. It's interesting that they still say "earn 5x the national average." Schwab Bank's Investor Checking Account has a 0.75% rate, and they say "that’s 2 times the national average." I think it's time for ETrade to review their claims.
One big disappointment this week occurred at Bank of Internet which cut the rate again on its Advantage Savings Account. It now has an APY of 2.02%. When BofI launched this account in early July with a 2.50% APY, I knew this wouldn't last, but I thought it would at least last for a few months.
The rate drop at BofI shows the problems of rate chasing. We all want that bank that'll be a rate leader for the long term. As you can see in my new top savings accounts post, I looked into this issue. I put together a new short list of top online savings accounts that have the best rates, that don't have monthly fees and that have an ACH bank-to-bank transfer service. Three of the banks on the list do have some history of maintaining very competitive rates. Two of these are 1st Constitution Direct and CNB Bank Direct. The third is not bank, but a credit union. It's Alliant Credit Union which like the banks is federally insured and is available nationwide. This is my third top savings accounts post over the last year, and there have been a few disappointments. We'll see how long the ones in my new list will remain rate leaders.
Below is the list of rate changes this week.
Rate Hikes:
Most of the CD rate cuts this week involved special CDs and CDs that had top rates. When these CDs pop up, they're not lasting long. There must be a lot of people jumping on these deals, and banks are not wasting any time cutting rates if they get too much demand.
ING Direct did something it has rarely done this year. It actually raised a CD rate. Its 6-month CD rate increased from 1.25% to 1.65% APY. It's nothing to get excited about, but what I find interesting is that it matches the 6-month CD rate at Ally Bank. When Ally Bank dropped GMAC from its name, it also dropped minimum balance requirements and started doing a lot of advertising. Perhaps Ally Bank is taking away some of ING Direct's deposits. As someone who has had accounts for many years at both ING Direct and Ally Bank, ING Direct should be concerned. In my opinion, Ally Bank has several internet bank features that are better than what ING Direct offers. We just have to hope that Ally Bank won't be another ING Direct which rarely offers anything but mediocre rates.
For those with large savings who want a financially strong bank for their deposits, USAA Bank is one to consider. USAA Bank is offering some competitive CDs especially for terms of 15 months, 2-years and 4-years. You get a sizable rate bump if your minimum deposit is $175K (see post). USAA Bank used to restrict membership to only those connected with the military. This requirement is still in place for loans and insurance products, but for deposit products, I was told it's now available to all.
Below are some of the best CD deals that are still active.
Best Nationwide CD Deals as of 8/08/09: Also listed are a few savings accounts with rate guarantee periods. The full list of nationwide CD rates is farther down.
I reported on three new reward checking accounts this week with rates from 3.01% APY to 5.10% APY. All three are local deals.
In addition to reward checking accounts, I also reported on a reward savings account. I've seen more banks and credit unions offer this type of account in the last few months. The reward savings account is intended for those who already have a reward checking account. If you meet the monthly reward checking requirements, the reward savings account will pay a competitive rate on all balances. The rate is lower than the reward checking rate, but most have been very competitive when compared to online savings account rates. So for those who have large savings and don't want to open multiple reward checking accounts, a combined reward checking and savings account allows you to earn a competitive rate from one bank for all of your savings. Just don't forget those monthly requirements.
To see all of the high yield reward checking accounts available throughout the nation, please refer to my High Yield Checking website.
Recap for the Week - Links to This Week's Posts
Banking News
Savings Accounts - National
CD Deals - National
Credit Card Deals
Reward Checking Accounts
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 August 8, 2009
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
Recent CD Specials at Local Credit Unions and Banks
Bank Account Alternatives
Historical Rates from the Federal Reserve (Federal funds, Treasury bills, CD's)
There were more signs this week that we may be nearing the end of the recession. As Bloomberg reported, "The pace of U.S. job losses slowed more than forecast last month and the unemployment rate dropped for the first time in more than a year, the clearest signs yet the worst slump since the Great Depression may be ending."
An improving economy should eventually lead to higher deposit rates. However, with high unemployment likely to last for a while and with more banks failing, the recovery may not be quick. Nouriel Roubini (aka Dr. Doom) sees a double-dip recession. As the WSJ reported, Roubini expects unemployment to peak in 2010. Bernanke has implied that as long as unemployment remains high, the Fed will likely hold steady with interest rates near zero. Before getting mad at Bernanke, consider that even Roubini gives credit to Bernanke in preventing a depression. In addition, Roubini has recommended that Bernanke be reappointed as the Fed Chairman in January. So with the potential for a long recovery and with Bernanke determined not to hike rates too soon, interest rates may stay low for a while.
There were three more bank failures yesterday. All three were small, and the FDIC arranged for buyers to assume all regular deposits, even those above the FDIC limit. We'll likely see some large bank failures in the coming weeks. There were more reports this week of problems at Guaranty Bank (in TX/CA), Corus Bank and Colonial Bank.
Savings Account Rates
This was another week of many rate cuts. When ETrade Bank cut its Complete Savings Account rate to under 1% in May, I thought it had hit bottom. However, this week ETrade Bank cut the rate from 0.95% to 0.80%. It's interesting that they still say "earn 5x the national average." Schwab Bank's Investor Checking Account has a 0.75% rate, and they say "that’s 2 times the national average." I think it's time for ETrade to review their claims.
One big disappointment this week occurred at Bank of Internet which cut the rate again on its Advantage Savings Account. It now has an APY of 2.02%. When BofI launched this account in early July with a 2.50% APY, I knew this wouldn't last, but I thought it would at least last for a few months.
The rate drop at BofI shows the problems of rate chasing. We all want that bank that'll be a rate leader for the long term. As you can see in my new top savings accounts post, I looked into this issue. I put together a new short list of top online savings accounts that have the best rates, that don't have monthly fees and that have an ACH bank-to-bank transfer service. Three of the banks on the list do have some history of maintaining very competitive rates. Two of these are 1st Constitution Direct and CNB Bank Direct. The third is not bank, but a credit union. It's Alliant Credit Union which like the banks is federally insured and is available nationwide. This is my third top savings accounts post over the last year, and there have been a few disappointments. We'll see how long the ones in my new list will remain rate leaders.
Below is the list of rate changes this week.
Rate Hikes:
- None
- 1st Constitution Direct Savings 3mo promo - 2.30% (was 2.50%)
- Bank of Internet Advantage Savings - 2.02% (was 2.25%)
- Clear Sky Savings - 1.85% (was 1.95%)
- Union Federal Savings Bank MMA - 1.85% (was 2.00%)
- First Trade Union Bank Savings - 1.80% (was 2.06%)
- Corus Bank MMA - 1.75% (1.79%)
- EverBank MMA - 1.75% (was 1.85%)
- American Express Savings - 1.75% (was 1.85%)
- Savings Square Savings - 1.70% (was 1.90%)
- Ally Bank Savings - 1.70% (was 1.75%)
- Capital One/Costco Savings - 1.65% (was 1.80%)
- Ally Bank MMA - 1.65% (was 1.70%)
- Grand Yield Direct Savings - 1.60% (was 1.70%)
- Capital One Savings - 1.60% (was 1.75%)
- ETrade Complete Savings - 0.80% (was 0.95%)
Most of the CD rate cuts this week involved special CDs and CDs that had top rates. When these CDs pop up, they're not lasting long. There must be a lot of people jumping on these deals, and banks are not wasting any time cutting rates if they get too much demand.
ING Direct did something it has rarely done this year. It actually raised a CD rate. Its 6-month CD rate increased from 1.25% to 1.65% APY. It's nothing to get excited about, but what I find interesting is that it matches the 6-month CD rate at Ally Bank. When Ally Bank dropped GMAC from its name, it also dropped minimum balance requirements and started doing a lot of advertising. Perhaps Ally Bank is taking away some of ING Direct's deposits. As someone who has had accounts for many years at both ING Direct and Ally Bank, ING Direct should be concerned. In my opinion, Ally Bank has several internet bank features that are better than what ING Direct offers. We just have to hope that Ally Bank won't be another ING Direct which rarely offers anything but mediocre rates.
For those with large savings who want a financially strong bank for their deposits, USAA Bank is one to consider. USAA Bank is offering some competitive CDs especially for terms of 15 months, 2-years and 4-years. You get a sizable rate bump if your minimum deposit is $175K (see post). USAA Bank used to restrict membership to only those connected with the military. This requirement is still in place for loans and insurance products, but for deposit products, I was told it's now available to all.
Below are some of the best CD deals that are still active.
Best Nationwide CD Deals as of 8/08/09: Also listed are a few savings accounts with rate guarantee periods. The full list of nationwide CD rates is farther down.
- 3.01% 3-mo money market/checking promo at EverBank (account review)
- 2.50% 3-mo savings account promo at ProvidentNJ Direct (account review)
- 2.30% 3-mo savings account promo at 1st Constitution Direct (account review)
- 2.25% 7-mo CD $100K min at Consumers CU (account review)
- 2.35% 12-mo CD at Delta Community CU (account review)
- 2.30% 12-mo & 2.40% 18-mo Flex CD with Liquid Features at Wilshire State Bank (account review)
- 2.25% 12-mo CD at United Central Bank (account review)
- 2.47% 17-mo CD at Security Savings Bank (account review)
- 2.75% 24-mo CD at Southeast Financial FCU (account review)
- 3.91% 60-mo CD at Melrose CU (account review)
- 3.50% 60-mo CD at iGObanking (account review)
- 5.00% 6-mo CD ($25K max) at Tyndall CU in Panhandle FL (account review)
- 2.50% 6-mo CD ($25K max) at STC Capital Bank in Chicago (account review)
- 2.25% 3mo to 12mo CD at CoreFirst Bank at CO & KS (account review)
- 3.00% 9-mo CD at Bartow County Bank in GA (account review)
- 3.10% 10-mo CD at Pacific Crest Savings Bank in WA (account review)
- 3.05% 12-mo CD at Self Reliance New York FCU (account review)
- 3.00% 12-mo & 3.25% 24-mo CD at Jefferson Financial CU in Louisiana (account review)
- 2.58% 12-mo CD at Fort Bragg FCU in NC (account review)
- 2.50% 12-mo CD at Advantage National Bank in IL (account review)
- 2.27% 12-mo CD at American Plus Bank in Southern CA (account review)
- 3.25% 27-mo CD & 2.50% 15-mo CD at Enterprise Bank of SC (account review)
- 3.00% 24-mo CD at Texas Security Bank in TX (account review)
- 2.75% 24-mo CD & 3.50% 48-mo & 2.50% 18-mo CD at Montauk CU in NY (account review)
- 3.25% 42-mo CD at Regions Bank in Several States (account review)
- 4.07% 60-mo CD at United Community CU in IL & MO (account review)
- 3.75% 60-mo CD at Fidelity Bank of Florida (account review)
I reported on three new reward checking accounts this week with rates from 3.01% APY to 5.10% APY. All three are local deals.
In addition to reward checking accounts, I also reported on a reward savings account. I've seen more banks and credit unions offer this type of account in the last few months. The reward savings account is intended for those who already have a reward checking account. If you meet the monthly reward checking requirements, the reward savings account will pay a competitive rate on all balances. The rate is lower than the reward checking rate, but most have been very competitive when compared to online savings account rates. So for those who have large savings and don't want to open multiple reward checking accounts, a combined reward checking and savings account allows you to earn a competitive rate from one bank for all of your savings. Just don't forget those monthly requirements.
To see all of the high yield reward checking accounts available throughout the nation, please refer to my High Yield Checking website.
Recap for the Week - Links to This Week's Posts
Banking News
Savings Accounts - National
CD Deals - National
- Competitive CD Rates and Money Market Rates Continue at United Central Bank - Available Nationwide
- 4.07% 18-Month CD ($25K Max) at Citibank - Nationally Available
- 2.35% 12-Month CD at Delta Community Credit Union - Easy Membership
- Competitive CD Rates at USAA Federal Savings Bank - Nationally Available
- 2.25% 7-Month Jumbo CD & Other Competitive CDs at Consumers Credit Union - Easy Membership
- 3.25% 4-Year CD at First Trade Union Bank - RATE DROP
Credit Card Deals
Reward Checking Accounts
- 2.25% Reward Savings Account at Sutton Bank Available in OH, MI, IN & KY
- 3.01% Reward Checking Account at Premier Valley Bank in California - Local Only
- 5.00% Reward Checking Account at Marine FCU in NC & VA - Local Only
- 5.10% Reward Checking Account at BC National Bank in Missouri - Local Only
- 2.50% 13-Month CD at The Palm Bank in Florida - Local Only
- 3.10% 10-Month CD at Pacific Crest Savings Bank in Washington State - Local Only
- 2.50% 12-Month CD at Advantage National Bank in the Chicago Metro Area - Local Only
- 2.50% 18-Month CD & Other High CD Rates at Montauk Credit Union in New York - Local Only
- 2.50% 16-Month CD at Teachers Federal Credit Union in New York - Local Only
- 2.00% 7-Month CD & 2.50% 18-Month CD at Leominster Credit Union in MA - Local Only
- 2.25% 18-Month CD & 2.50% 24-Month CD at Pacific Premier Bank in Southern California - Local Only
- 2.50% 18-Month CD & 2.75% 24-Month CD at International Bank of Chicago - Local Only
- 2.02% 8-Month CD & 3.57% 55-Month CD at Farmers State Bank in Iowa - Local Only
- 3.25% 24-Month CD & 2.50% 12-Month CD at Texas Security Bank
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 August 8, 2009
Checking/Savings/Money Market Accounts:
- EverBank - 3.01% ($5K min), 3 mo promo rate up to $50K (1.75% stnd) account review
- SmartyPig - 2.75% (min $25) withdrawal restrictions, account review
- ProvidentNJ Direct - 2.50% (min $50), 3 mo promo (2.00% $10K+ stnd) account review
- Tennessee Commerce Bank - 2.30% (min $250) withdrawal restrictions, account review
- 1st Constitution Direct - 2.30% (min $100), 3 mo promo (2.25% $10K+ stnd) account review
- Acacia Federal Savings Bank - 2.25% (guaranteed to 9/30/09) account review
- Wilshire State Bank - 2.25%, chk required (min $500) account review
- SFGI Direct - 2.25% ($25 min) account review
- ShoreBank - 2.15%, account review
- Seacoast Commerce Bank - 2.05% (min $25K) account review
- Peoples Bank - 2.02% ($500 min) account review
- Bank of Internet - 2.02% Advantage Savings (min $100) account review
- UFB Direct - 2.01%, account review
- Alliant Credit Union - 2.00% (min $100), account review
- Redneck/AmericaNet/Evantage Bank - 2.00% (up to $35K, 1% over) rates starting 5/5/09 account review
- Delta Community CU - 2.00% MMA (min $25K) 2.25% $100K+, account review
- CNB Bank Direct - 2.00% account review
- Discover Bank - 2.00% Savings (min $500) account review
- Solera National Bank - 2.00% Checking ($20K min) (2.50% $100K+, 3% $250K+) Also has a savings account, account review
- United Central Bank - 1.95% MMA (min $5K) (2.15% $75K-$300K) account review
- Nationwide Bank - 1.85% MMA (min $1K) account review
- Capital One/Costco - 1.85% InterestPlus Savings ($5K min) quarterly bonuses for $15K+, account review
- Clear Sky Accounts - 1.85% account review
- Flagstar - 1.81% MMA, account review
- AIG Bank - 1.81% MMA (min $10K+) account review
- ADB Bank - 1.80% account review
- Newtown Savings Bank - 1.80%, account review
- Union Federal Savings - 1.80% account review
- First Trade Union Bank - 1.80% ($2.5K min) account review
- Centennial Bank - 1.77% ($50K min), 2.02% ($100K min) account review
- Heartland Bank Direct - 1.76% ($500 min), account review
- WTDirect - 1.76% ($10K min), (up to $150 bonus) account & bonus review
- Hudson City Savings - 1.75% (min $2.5K) account review
- Alliant Credit Union - 1.75% Checking, required direct deposit, account review
- BankUnited - 1.75% (min $5K), account review
- Presidential Bank - 1.75% (min $5K, 1.25% over $35K), account review
- FNCB Bank - 1.75% (min $100) account review
- Bank of American Fork - 1.75% (min $1K) account review
- Corus Bank - 1.75% MMA (min $10K) account review
- Bank of Internet - 1.75% (min $100) account review
- American Express Bank - 1.75%, account review
- DollarSavingsDirect - 1.70% ($1K min) account review
- Bank of Internet - 1.70% MMA (min $100) account review
- Ally/GMAC Bank - 1.70% Savings account review
- Savings Square - 1.70%, account review
- iGObanking - 1.67%, account review
- Bank Provident Online - 1.65% (min $10) account review
- Intervest National Bank - 1.65% MMA (min $2.5K) account review
- Danversbank - 1.65% account review
- Ally/GMAC Bank - 1.65% MMA account review
- CapitalOne/Costco - 1.65% Savings (min $10K, Costco members only, $60 deal for exec. members)
- grand yield direct - 1.60% (min $2.5K) account review
- Capital One - 1.60% (Savings) (min $10K) account review
- TotalBank - 1.55% (min $1K) account review
- State Farm Bank - 1.55% Checking (min $2.5K) account review
- HSBC Direct - 1.55% account review
- Salem Five Direct - 1.55% Savings, account review
- EBSB Direct - 1.55% (min $50K) account review
- Amboy Direct - 1.51% (min $3K) (eSavings) account review ($50 bonus)
- Presidential Bank - 1.50% Checking (min $1K, 1% over $25K), requires direct deposit, account review
- FNBO Direct - 1.50%, account review
- CapitalOne/Costco - 1.50% MMA (min $1K, Costco members only, $60 deal for exec. members)
- Bank of America NEA - 1.50% MMA ($500 min) (1.55% for $50K+) account review
- Zions Bank - 1.46% MMA, outside of Utah, (min $2.5K) account review
- Venture Bank Direct - 1.43%, account review
- EmigrantDirect - 1.40%, account review
- ING Direct - 1.40%, (0.25% checking), post ($25 bonus)
- BofA/Countrywide - 1.40% (min $10K) (1.50% for $50K+) account review
- Amegy Bank - 1.35% (min $1K) account review
- Charles Schwab - 1.35% Savings, account review
- UmbrellaBank - 1.35% MMA (min $1K) 1.74% ($50K+) account review
- Citibank - 1.30% (Ultimate Savings) account review
- Bank of Internet - 1.30% Checking (min $5K) account review
- Capital One - 1.30% MMA, account review
- Discover Bank - 1.30% MMA (min $2.5K) (1.60% $25K-$50K, 1.70% $50K-$100K) account review
- Choice Financial - 1.26% (min $5K), (1.51% $25K+, 1.76% $100K) account review
- OneWest Bank/Indymac - 1.25% (min $10K) tiered rates up to 1.85% $50K+, account review
- UnivestDirect - 1.25%, (0.25% checking), account review
- Imperial Capital - 1.17% MMA ($2.5K min) (1.38% for $100K+) account review
- OneUnited - 1.01% (min $1K), account review
- iGObanking - 1.00% Checking, account review
- AmTrustDirect - 1.00% ($500 min) NEW e-Money Market (1.50% $10K+) account review
- VirtualBank - 0.80% (min $100), (1.51% $25K+, 1.71% $50K+) post ($20 bonus)
- ETrade Bank - 0.80%, account review
- Imperial Capital - 0.79% Checking (min $1K) account review
- Salem Five Direct - 0.75% Checking (0.85% $100K+), account review
- Charles Schwab - 0.75% Checking, account review
- Doral Bank Direct - 0.50% (min $1K) account review
3-Month Certificates of Deposit:
- Danversbank - 2.00% (4 mo) (min $500) account review
- Wilshire State Bank - 1.86% (min $1K) account review
- TotalBank - 1.85% (min $1K) account review
- Southeast Financial FCU - 1.75% (min $500) account review
- Consumers CU - 1.55% (min $500) account review
- UFB Direct - 1.55% (min $8K)
- FirstFedDirect - 1.45% (min $10K), account review
- eBank - 1.35% (min $1K)
- Imperial Capital - 1.32%, ($2K min), account review
- Hudson City Savings - 1.25% (min $5K) account review
- Ally/GMAC Bank - 1.15% (min $0) account review
- UmbrellaBank - 1.00% (min $1K) account review
6-Month Certificates of Deposit:
- Southeast Financial FCU - 2.00% (min $500) account review
- Consumers CU - 2.00% (7-mo) (min $250) (2.25% $100K+) account review
- Wilshire State Bank - 1.96% (min $1K) account review
- TotalBank - 1.85% (min $1K) account review
- La Jolla Bank - 1.80% (min $10K), account review
- Ascencia Bank - 1.76% (min $500), account review
- FirstFedDirect - 1.75% (min $10K), account review
- Connexus CU - 1.75% (min $500) account review
- Ally/GMAC Bank - 1.65% (min $0) account review
- ING Direct - 1.65% account review
- eBank - 1.60% (min $1K)
- Corus Bank - 1.59% (min $10K) account review
- Imperial Capital - 1.59% ($2K min), account review
- UmbrellaBank - 1.50% (min $1K) account review
- Excel National Bank - 1.50% (min $10K) account review
- Hudson City Savings - 1.50% (min $5K) account review
- AmTrustDirect - 1.15% (min $1K) account review
- Zions Bank - 0.90% (min $1K) account review
9-Month Certificates of Deposit:
- Christian Community CU - 2.25% (min $1K) not NCUA insured (ASI only) account review
- Acacia Federal Savings Bank - 1.95% (10-mo) (min $500) account review
- TotalBank - 1.85% (min $1K) account review
- Ally/GMAC Bank - 1.85% (min $0) No-Penalty, account review
- eBank - 1.80% (min $1K)
- Navy FCU - 1.76% ($10K min) restrictions to membership, account review
- FirstFedDirect - 1.75% (min $10K) account review
- Imperial Capital - 1.74% ($2K min), account review
- NewDominion Bank - 1.67% (min $3K) account review
- UmbrellaBank - 1.60% (min $1K) account review
- Ally/GMAC Bank - 1.55% (min $0) account review
- NASA FCU - 1.50% (min $5K) account review
- Doral Bank Direct - 1.40% (min $1K) account review
- Bank of America - 0.90% (min $5K), risk-free, rates vary by state (account review)
12-Month Certificates of Deposit:
- Delta Community CU - 2.35% (min $1K) account review
- Southeast Financial FCU - 2.30% (min $500) account review
- Wilshire State Bank - 2.30% (min $10K), liquid features, account review
- Frontier Bank - 2.30% (min $50K) account review
- Melrose CU - 2.27% (min $5K) account review
- Christian Community CU - 2.25% (min $1K) not NCUA insured (ASI only) account review
- United Central Bank - 2.25% (min $1K) account review
- Connexus CU - 2.25% (min $500) account review
- FNCB Bank - 2.25% (11 & 15 mo) (min $5K) requires checking, account review
- Choice Financial - 2.21% (13 mo) (min $5K) add-on feature, account review
- UmbrellaBank - 2.15% (weekend deal only) (min $1K) account review
- Wilshire State Bank - 2.15% (min $1K) account review
- Alliant Credit Union - 2.15% (min $25K) account review
- ISN Bank - 2.12% (min $1K) account review
- Acacia Federal Savings Bank - 2.10% (min $500) account review
- Northpointe Bank - 2.10% (13-mo) (min $5K) account review
- Beacon Federal - 2.10% (15 mo) (min $2.5K) account review
- Equity Bank - 2.10% (min $1K) account review
- NewDominion Bank - 2.05% (min $3K) account review
- Crane FCU - 2.02% (min $500) account review
- State Bank of India - 2.02% (min $5K) account review
- Franklin Synergy Bank - 2.01% account review
- AIG Bank - 2.00% (min $2.5K) account review
- NASA FCU - 2.00% (15 mo) (min $5K) account review
- OneWest Bank/IndyMac - 2.00% (min $5K) account review
- Corus Bank - 2.00% (min $10K) account review
- HSBC Direct - 2.00% (min $10) account review
- Ally/GMAC Bank - 2.00% (min $0) account review
- Discover Bank - 2.00% (min $2.5K) account review
- Ascencia Bank - 2.00% (min $500), account review
- Amboy Direct - 2.00% Add-On (min $10K) account review
- UFB Direct - 2.00% (min $8K)
- Pacific Mercantile Bank - 1.92% (min $10K) account review
- Tennessee Commerce Bank - 1.90% (min $5K) account review
- BankUnited - 1.90% (min $5K) account review
- Imperial Capital - 1.90% ($2K min), account review
- eBank - 1.90% (min $1K)
- Seacoast Commerce Bank - 1.88% (min $10K) account review
- La Jolla Bank - 1.85% (min $10K), account review
- TotalBank - 1.85% (min $1K) account review
- Hudson City Savings - 1.85% (min $5K) account review
- Fifth Third - 1.75% (15 mo) (min $5K) not all states, account review
- Geauga Savings Bank - 1.70% (min $1K) account review
- KeyDirect - 1.65% (15 mo) (min $5K), 1.90% w/chk, Not all states, account review
- Northwest FCU - 1.64% (min $500) add-on, account review
- Bank of America DOW - 1.55% (min $1K) account review
- OneWest Bank/IndyMac - 1.55% (min $5K) liquid CD, account review
- State Farm Bank - 1.54% (min $500) account review
- ING Direct - 1.50% account review
- Citibank - 1.50% (min $500)
- Bank of America - 1.45% (min $5K) rates vary by state, account review
18-Month Certificates of Deposit:
- Pacific Mercantile Bank - 2.53% IRA-only (min $7.5K) account review
- Southeast Financial FCU - 2.50% (min $500) account review
- Security Savings Bank - 2.47% (17 mo) (min $500) account review
- Wilshire State Bank - 2.40% (min $10K), liquid features, account review
- Navy FCU - 2.35% ($10K min) restrictions to membership, account review
- Equity Bank - 2.35% (min $1K) account review
- Christian Community CU - 2.25% (min $1K) not NCUA insured (ASI only) account review
- Dollar Savings Direct - 2.25% (16-mo) (min $1K) account review
- Discover Bank - 2.25% (min $2.5K), account review
- Citibank - 2.25% (min $500)
- FNCB Bank - 2.25% (18 mo) (min $5K) requires checking, account review
- Consumers CU - 2.15% (16-mo) (min $250) (2.40% $100K+) account review
- Alliant Credit Union - 2.15% (min $25K) account review
- eBank - 2.15% (min $1K)
- NewDominion Bank - 2.09% (min $3K) account review
- AIG Bank - 2.06% (min $2.5K) account review
- UmbrellaBank - 2.05% (min $1K), account review
- Ally/GMAC Bank - 2.00% (min $0) account review
- VirtualBank - 1.77% (min $10K), account review
- NorthEast Community Bank - 1.77% (min $500) account review
- HSBC Direct - 1.60% (min $10) account review
- Advanta Bank - 0.95% (min $10K), account review
24-Month Certificates of Deposit:
- Crane FCU - 2.78% (25 mo) (min $500) account review
- Southeast Financial FCU - 2.75% (min $500) account review
- Frontier Bank - 2.70% (min $50K) account review
- ISN Bank - 2.53% (min $1K) account review
- Broadway Federal Bank - 2.53% (min $1K) account review
- Melrose CU - 2.52% (min $5K) account review
- BankUnited - 2.50% (min $5K) account review
- Equity Bank - 2.50% (min $1K) account review
- Citizens First - 2.50% (22 mo) (min $1K) account review
- E-LOAN - 2.47% ($10K min) account review
- Tennessee Commerce Bank - 2.45% (min $5K) account review
- Gateway Regional CU - 2.40% (min $1K) restrictions to membership, account review
- Consumers CU - 2.40% (22-mo) (min $250) (2.65% $100K+) account review
- Bank of America DOW - 2.36% (min $1K) account review
- TriState Capital Direct - 2.35% (min $95K) account review
- NewDominion Bank - 2.35% (min $3K) account review
- State Bank of India - 2.32% (min $5K) account review
- Northwest FCU - 2.30% (min $500) add-on, account review
- Alliant Credit Union - 2.30% (min $25K) account review
- EverBank - 2.30% ($1.5K min) account review
- Fifth Third - 2.26% (min $5K) not all states, account review
- Beacon Federal - 2.25% (min $2.5K) account review
- American Express Bank - 2.25% (min $0) account review
- Discover Bank - 2.25% (min $2.5K) account review
- Ally/GMAC Bank - 2.25% (min $0) account review
- MetLife Bank - 2.25% (min $25K) account review
- eBank - 2.25% (min $1K)
- USAA Bank - 2.25% (min $1K) (2.56% $175K min) account review
- AIG Bank - 2.21% (min $2.5K) account review
- Seacoast Commerce Bank - 2.18% (min $10K) account review
- iGobanking - 2.12% (min $500), account review
- OneWest Bank/IndyMac - 2.05% (min $5K) account review
- UFB Direct - 2.00% (min $8K)
- State Farm Bank - 1.77% (min $500) account review
- Flagstar - 1.25% (min $500), account review
- KeyDirect - 1.15% (min $5K), 1.40% w/chk, Not all states, account review
- Advanta Bank - 1.10% (min $10K), account review
36-Month Certificate of Deposit:
- Melrose CU - 3.03% (min $5K) account review
- Equity Bank - 3.00% (min $1K) account review
- Frontier Bank - 3.00% (min $50K) account review
- Acacia Federal Savings Bank - 2.95% (min $500) account review
- Intervest - 2.90% (min $2.5K), account review
- Pentagon Federal CU - 2.78% (min $1K), account review
- NewDominion Bank - 2.76% (min $3K) account review
- Discover Bank - 2.75% (min $2.5K) account review
- Gateway Regional CU - 2.75% (min $1K) restrictions to membership, account review
- American Express Bank - 2.75% (min $0) account review
- Alliant Credit Union - 2.75% (min $25K) account review
- Air Force FCU - 2.70% (min $25K) membership restrictions account review
- Ally/GMAC Bank - 2.70% (min $0) account review
- State Bank of India - 2.68% (min $5K) account review
- AIG Bank - 2.66% (min $2.5K) account review
- Agriculture FCU - 2.60% (min $1K) account review
- Nationwide Bank - 2.55% (min $500) account review
- eBank - 2.50% (min $1K)
- H&R Block Bank - 2.50% (min $250) account review
- Tennessee Commerce Bank - 2.45% (min $5K) account review
- Northrop Grumman FCU - 2.40% (min $40K), account review
- Bank of Internet - 2.25% (min $1K) account review
- KeyDirect - 2.15% (39-mo)(min $5K), 2.40% w/chk, Not all states, account review
- UFB Direct - 2.00% (min $8K)
- Advanta Bank - 1.35% (min $10K), account review
48-Month Certificate of Deposit:
- Melrose CU - 3.39% (min $5K) account review
- Discover Bank - 3.25% (min $2.5K) account review
- Frontier Bank - 3.25% (min $50K) account review
- Equity Bank - 3.20% (min $1K) account review
- Acacia Federal Savings Bank - 3.20% (min $500) account review
- Intervest - 3.20% (min $2.5K), account review
- USAA Bank - 3.15% (min $1K) (3.46% $175K min) account review
- Pentagon Federal CU - 3.14% (min $1K), account review
- Bank of America DOW - 3.11% (min $1K) account review
- Gateway Regional CU - 3.00% (min $1K) restrictions to membership, account review
- Third Federal - 3.00% (min $500) account review
- Countrywide/BofA - 3.00% (min $10K), account review
- Alliant Credit Union - 3.00% (min $25K) account review
- National Bank of KC - 2.90% (min $10K) account review
- American Express Bank - 2.90% (min $0) account review
- Ally/GMAC Bank - 2.85% (min $0) account review
- Nationwide Bank - 2.85% (min $500) account review
- Tennessee Commerce Bank - 2.70% (min $5K) account review
- KeyDirect - 2.40% (min $5K), 2.65% w/chk, Not all states, account review
- Flagstar - 2.30% (min $500), account review
- FNBO Direct - 2.25% (min $500) account review
- Advanta Bank - 1.60% (min $10K), account review
60-Month Certificate of Deposit:
- Melrose CU - 3.91% (min $5K) account review
- Apple FCU - 3.70% (min $50K) account review
- Northwest FCU - 3.66% (min $25K) account review
- Acacia Federal Savings Bank - 3.60% (min $500) account review
- Pentagon Federal CU - 3.51% (min $1K), account review
- Frontier Bank - 3.50% (min $50K) account review
- Agriculture FCU - 3.50% (min $1K), account review
- iGobanking - 3.50% (min $500), account review
- E-LOAN - 3.50% ($10K min) account review
- US Bank - 3.50% (59 mo) (min $1K) account review
- Gateway Regional CU - 3.45% (min $1K) restrictions to membership, account review
- Equity Bank - 3.40% (min $1K) account review
- State Bank of India - 3.34% (min $5K) account review
- Dime Savings Bank - 3.30% (min $500) account review
- Intervest - 3.27% (min $2.5K), account review
- Mountain America CU - 3.25% (min $1K) account review
- Discover Bank - 3.25% (min $2.5K) account review
- American Express Bank - 3.25% (min $0) account review
- Third Federal - 3.25% (min $500) account review
- Connexus CU - 3.25% (min $1K) account review
- Ally/GMAC Bank - 3.20% (min $0) account review
- AIG Bank - 3.16% (min $2.5K) account review
- Nationwide Bank - 3.15% (min $500) account review
- Navy FCU - 3.10% ($20K min) (3.25% for $100K+) restrictions to membership, account review
- EverBank - 3.05% ($1.5K min) account review
- Credit Union of Georgia - 3.04% (min $50K), account review
- OneWest Bank/IndyMac - 3.00% (min $5K) account review
- Delta Community CU - 3.00% (min $1K) account review
- Consumers CU - 3.00% (59-mo) (min $250) (3.25% $100K+) account review
- Telcom Credit Union - 3.00% (min $500) account review
- Alliant Credit Union - 3.00% (min $25K) account review
- University FCU - 2.60% (min $2.5K), account review
- Patelco CU - 2.58% ($1K min), account review
- USA FCU - 2.53% (min $1K) account review
- FNBO Direct - 2.51% (min $500) account review
- Dollar Savings Direct - 2.50% (min $1K) account review
- KeyDirect - 2.40% (min $5K), 2.65% w/chk, Not all states, account review
- Western FCU - 2.30% (min $40K) account review
- 1st Source Bank - 2.10% (min $500) account review
- UFB Direct - 2.00% (min $8K)
- Advanta Bank - 1.85% (min $10K), account review
84-Month Certificate of Deposit:
- Navy FCU - 4.00% ($20K min) restrictions to membership, account review
- Pentagon Federal CU - 4.00% (min $1K), account review
- Discover Bank - 3.50% (min $2.5K) account review
- Third Federal - 3.50% (6-yr) (min $500) account review
- Intervest - 3.29% (min $2.5K), account review
- KeyDirect - 2.15% (min $5K) 2.40% w/chk, Not all states, account review
- Countrywide/BofA - 2.10% (min $10K), account review
- Capital One/Costco - 2.05% (min $5K) account review
- Capital One - 1.50% (min $5K) 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
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
- GE Interest Plus - 2.30% rate for $50k+
- Fidelity Money Market Fund - 0.36% 7-day yield (reviews on Fatwallet)
- Vanguard Tax-Exempt Money Market Fund - 0.30% 7-day yield
- Vanguard Prime Money Market Fund - 0.23% 7-day yield
- Paypal Money Market Fund - 0.13% 7-day yield (1% cashback debit MasterCard)
- Fidelity Municipal Money Market Fund - 0.12% 7-day yield
- TIAA-CREF Money Market Fund - 0.08% 7-day yeild
- 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)
Featured Savings Account
Nationwide Savings Accounts
Related Posts
Jeff (anonymous) - #1, Saturday, August 8, 2009 - 6:12 PM
FYI - the Guaranty Bank in trouble is the one in TX & CA, not the one based in WI.
Banking Guy (anonymous) - #2, Saturday, August 8, 2009 - 6:29 PM
Thanks for the note. I've added the TX/CA in the post to avoid confusion.
Shalom P. Hamou (anonymous) - #3, Saturday, August 8, 2009 - 9:55 PM
________
Read "Bernanke's Dark Kingdom."
Abstract:
I am going to show here that central banks have excessive powers which are coherent neither with democratic principles nor with morality. Their existence can not be justified from a mathematical point of view.]
Worse, in light of the exercise of their extraordinary power by Bernanke, I argue that they can pose a real threat to democracy, peace, privacy and individual freedom.
Because of the immediate dangers that are evoked in these lines I strongly suggest that you reproduce my deeds.
My Yield Curve.
__________
Jim (anonymous) - #4, Saturday, August 8, 2009 - 11:13 PM
Not that I have any significant money left in it anymore, but has anyone else gotten a letter from BoA saying their Countrywide Savingslink account will be turned into a "Growth Money Market Savings" account?
The problem is that the new account does have a minimum balance and fees (along with a crappy interest rate).
I'll probably just close my Savingslink account before the September 18th transition, but I can imagine some people will be annoyed if they left a buck in there and then forgot about it.
I don't know how they'll handle that (jerky or kindly), but it's probably best to avoid the issue and close it soon.
Anonymous - #5, Thursday, August 13, 2009 - 11:47 PM
The NCUA closed Community One FCU on 8/13/09, merging it with America First FCU:
http://www.ncua.gov/news/press_releases/2009/MR09-0812.htm
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