iGObanking.com made some CD rate changes. Unfortunately, the 2-year CD rate has gone down from 2.25% to 2.00% APY. On the plus side, the 4-year and 5-year CD rates have gone up. Here's a list of the new and old yields as listed at iGObanking.com's rates page as of 11/10/2010:
- 1.50% APY 18-month CD
- 2.00% APY 2-year CD (was 2.25%)
- 2.25% APY 3-year CD
- 2.55% APY 4-year CD (was 1.00%)
- 2.70% APY 5-year CD (was 2.50%)
Even with the 2-year CD rate cut, the 2.00% remains on top of our nationwide 2-year CD rate list. It's 20 basis points above the second best rate, 1.80% APY at Alliant Credit Union as of 11/10/2010. The 4-year CD rate is also on top of our nationwide 4-year CD rate list. It's 3 basis points above the second best rate, 2.52% APY at Melrose Credit Union as of 11/10/2010.
I have more details about these CDs in my iGObanking.com CD review from last month when they first offered the special 2-year rate.
iPad Gift Package at GiftsforBanking.com
iGObanking.com's CD gift site, GiftsforBanking.com typically has CD rates about 25 basis points under those at iGObanking.com. As a replacement for the lower rate, they offer gifts which vary based on deposit term and size. However, as of the morning of 11/10/2010, GiftsforBanking.com's 2-year CD rate is 2.00% APY. This rate may not last long.
Another extra perk that I just noticed at GiftsforBanking.com is a special iPad gift package which appears like a good deal if you have at least $25,000. Here are the details provided on GiftsforBanking.com's holiday page as of 11/20/2010:
Open a 2 year CD (minimum of $50,000) or a 3 year CD (minimum of $25,000) account now and you can receive the iPad Ultimate Camera Bundle. The iPad is the perfect way to reward yourself or someone on your holiday gift list this season. The iPad Ultimate Camera Bundle includes:
* 32GB Apple iPad
* Apple iPad Camera Connection Kit
* Samsung 12.2 Megapixel Dual LCD Digital Camera
* ful Overton Backpack
According to GiftsforBanking.com, the offer ends 11/29/2010. There are some downsides when gifts are included with interest on CDs. I described those downsides in my last GiftsforBanking.com review.
iGObanking.com is a division of Flushing Savings Bank, FSB, a New York bank with $4.26 billion in assets and 16 branches. The bank's overall health score at DepositAccounts.com is 3 out of 5 with a Texas Ratio of 25.99% (above average) based on 6/30/2010 data. It has been a FDIC member since 1943 (FDIC Certificate # 16049).
Other Ways to Get a free iPad
If you're interested in an Apple iPad, don't forget our iPad giveaway. It's free and easy to enter. The sweepstakes ends on November 18th.
Searching for the Best CD and IRA CD Rates
To search for the best nationwide rates and the best rates in your state, please refer to the following sections of DepositAccounts.com: