Dedicated to Deposits: Deals, Data, and Discussion

Another 2% Money Market Special & $200 Checking Bonus at Investors Savings Bank at Two NJ Branches - Local Only

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Investors Savings Bank is having two more grand opening specials at two of its Newark, New Jersey branches. These appear to be very similar to the promotion I reported in April. This new promotion was advertised at nj.com on 5/6/10 at this ad page. The grand re-opening specials are taking place on May 15, 2010 from 9:00am to 3:00pm at the branches of 829 Sanford Avenue (973.373.9495) and 148 Ferry Street (973.589.6803). These specials are not listed on the bank's website, but they do mention the Newark grand re-openings here. Below are the promotion details:

  • 2.00% APY on the Money Market account with the rate guaranteed until 8/31/2010. $500 minimum deposit. $2 million maximum deposit, and new money is required. Investors' consumer checking account is required. Without the checking account, the promo rate is 1.75% APY.
  • $200 bonus for opening a Investors' consumer checking account with direct deposit of at least $300. Direct deposit must be entire paycheck or other recurring payment (such as social security or pension check) with a minimum $300. Bonus is paid in quarterly increments of $50
  • There are also a 6-month intro rate of 3.25% APR for a Home Equity Credit Line and home loan specials.

Both promotions are available from 5/14/2010 to 5/22/2010. When I called the bank in April for the similar promotion, I was told that a customer would be allowed to do both promotions.

$100 Checking Account Bonus at Other Branches

For those too far away from the above branches, the bank continues to list a $100 checking account bonus available at all of its branches. I first reported on this in April 2010. 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).

Bank Overview

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 fair: 4 stars (excellent) at BauerFinancial, 3 stars (performing) at Bankrate.com, and 3 out of 5 overall health score at DepositAccounts.com (see Investors Savings Bank rates and reviews page). All ratings are based on 12/31/09 financial data. The bank has been a FDIC member since 1942 (FDIC Certificate # 28892).

Other Bank Bonuses

To find other bonus deals at other banks, please refer to my bank bonus page which has all of my recent bank bonus posts.


Related Pages: New Jersey, money market accounts, checking account

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Comments
6 Comments.
Comment #1 by Anonymous posted on
Anonymous
I don't see the ad on nj.com.

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Comment #2 by Anonymous posted on
Anonymous
Ken,

Thanks for the pointer!!  I went to the Sanford Avenue branch of Investors Savings Bank and successfully opened a Money Mkt Acct with a rate of 2.0% guaranteed to August 31, just as advertised.

1
Comment #3 by Wil (anonymous) posted on
Wil
To Anonymous #2: You got it already?! The ad said promotion available 5/14 to 5/22. Anyway, I'm bringing my Dad, who just sold shares in a mutual fund, to the Ferry Street branch on Friday to open the money market. Originally we were going to have him open a 3-month CD at a bank in Union, NJ that has an APY of 1.50%, but clearly this money market offer is better! Especially since he has a CD maturing in late July, which he could also add to the money market to get a decent rate for about five weeks. I agree, thanks Ken for the pointer! And thanks for all the work you put into this very useful website.

1
Comment #4 by Anonymous 2 (anonymous) posted on
Anonymous 2
To Wil,

Yes, the account may be opened prior to the Grand Opening day of May 15th.  I have a friend that went to the Ferry St. branch today (5/13).  All went smoothly.

2
Comment #5 by Wil (anonymous) posted on
Wil
Well, this morning I took Dad to open the money market at the Ferry Street branch (I knew exactly where it was because I used to live about three blocks away). Everything went very smoothly, and the bank officer was a delightful lady. We even got two gifts for opening the account! It was a nice visit to the old neighborhood, too.

1
Comment #6 by Wil (anonymous) posted on
Wil
Looks like the same deal is now being offered for the grand re-opening of the Springfield, NJ branch, with the rate guaranteed on the money market until 9/30/10.

1