Comments For: Competitive Savings Accounts and CDs at Golf Savings Bank - Available Nationwide

Bozo - #1, Wednesday, August 12, 2009 - 3:53 AM

All things considered, I love the name of this Bank.

I mean, if you're marketing to retirees, what better name to have?

Bozo

maggie - #2, Wednesday, August 12, 2009 - 9:36 AM

There is an additional term for the VIP money market account, which stated in their disclosure "To qualify for this account the owner must maintain a minimum of $10,000.00 in a CD, Checking, Savings or Loan account; separate from the VIP Money Market account. If the minimum requirement separate from this account is not maintained the account will be transferred to a Champion Money Market account. Terms and Rates for the Champion Money Market account will then apply.".

Mitch - #3, Friday, August 14, 2009 - 5:29 PM

I opened the promotional 4-year CD online without glitches. I then spoke to a CSR (who was immediately available) and was told that monthly payment of interest is an option via mailed check; if the depositor has either a checking or savings account at Golf, the monthly interest can be deposited therein. Apparently, the rate lock is indefinite (within reason) once the application is opened online.

Banking Guy - #4, Friday, August 14, 2009 - 7:58 PM

Mitch, thanks for the info. Glad to read the CD opening went smoothly.

Anonymous - #5, Sunday, August 16, 2009 - 2:09 PM

I checked the disclosures and found that the penalty for early withdrawal for the two, three, and five year CDs is 6 months of interest on the amount withdrawn. The penalty is one year of interest on the amount withdrawn for the four year CDs. Interesting.