Dedicated to Deposits: Deals, Data, and Discussion

2.00% Money Market Account and $200 Checking Account Bonus at Investors Savings Bank in NJ - Local Only

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Investors Savings Bank has two attractive new-account specials at five of its New Jersey branches:
  • 2.00% APY on the Consumer Money Market account with the rate guaranteed until 12/31/09 (valid for all balances up to $2 million). $500 minimum balance required to avoid $7.50 monthly fee. New money only. Offer expires on 10/31/09. In 2010 the account will revert to current tiered rates of the Investors Money Market Account (current rates are rather low)
  • $200 bonus for opening any checking account with direct deposit. Direct deposit must be at least $300 and must be entire paycheck or other recurring payment such as Social Security or pension check. Bonus is paid in quarterly increments of $50. If account is closed within 12 months, any bonus payment will be forfeited and a $50 termination fee will be applied. Offer expires 10/31/09.
These specials are not listed on the bank's website. A reader learned about them from an Investors' mailing, and he emailed me the info. I called for additional details. According to the CSR, a customer is allowed to do both promotions. Also, any of their checking accounts qualify including the free checking.

These specials are only available at five of the bank's branches in the following New Jersey cities: Bloomfield, Cedar Grove, Clifton, Nutley, and Verona. Refer to the bank's branch locator for the addresses and phone numbers of these five branches. These branches were part of American Bank which was recently acquired by Investors Savings Bank (see press release). The bank also recently acquired 6 New Jersey Banco Popular branches (2 in Clifton, 1 in East Orange, 1 in Montclair, 2 in Newark). The conversion completion for these branches is scheduled for 10/19/09 so keep a look out for deals at these branches.

Thanks to the reader who emailed me the info on these specials.

$100 Checking Account Bonus at Other Branches

For those too far away from the above branches, the bank also has a $100 checking account bonus available at all of its branches. I first reported on this in April. Here's the promotion page link. It's very similar to the $200 bonus with the same direct deposit requirement and the same quarterly payout (except only $25 per quarter).

Branches are located throughout New Jersey. Some of the cities include Irvington, Piscataway, Long Branch, Denville, Jackson, Somerset, Springfield, Union and Washington.

The bank's ratings for safety and soundness are strong: 4 stars (excellent) at BauerFinancial (based on 6/30/09 data) and 4 stars (sound) at Bankrate.com (based on 3/31/09 data). The bank has been a FDIC member since 1942 (FDIC Certificate # 28892).

Other Money Market Promotions and Checking Bonuses
  Tags: money market accounts, New Jersey

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