Browse through the stories below to view current deals for Florida banks or select an item from the menu bar above to view current rates in Florida.
M&T Bank has long been offering promotions for its MyChoice Checking account. In the latest one you can earn a $100 cash bonus for opening the MyChoice Checking Account and setting up direct deposit. The promotion is scheduled to last until 6/27/2014. Please refer to the bank’s promotions page for the full details.
The offer’s small print has the details about the direct deposit requirements and what qualifies as direct deposit:
MyChoice Checking is not a free checking account. According to the MyChoice Checking page, there's a $6.95 monthly fee unless you...Continue Reading
KeyBank has another checking account promotion. Unlike its past ones, this one offers a free 16GB Kindle Fire HD instead of cash.That Kindle model is currently selling on Amazon for $169. Like before it's an online-only offer, and it’s only available in certain areas of the country that are in KeyBank’s market area (see below). Here’s the link to KeyBank’s promo page. The offer is scheduled to last until February 28, 2014.
The bonus requires that you open a qualifying KeyBank checking account online and enter offer code ONFT0114 by February...Continue Reading
PenFed will be lowering most of its CD rates in February. This isn’t official since these rates are not yet posted on PenFed’s website. I learned of these rates from a PenFed customer service representative in a phone call this morning. Near the end of the month PenFed’s board of directors approves the CD rates for the next month. Once they’re approved, the CSRs are typically notified of these new rates by an internal email. Thanks to DA reader Lou for first reporting on this news in the forum.
One important...Continue Reading
Xceed Financial Credit Union just came out with a new CD special. It has a 1.50% APY and a 17-month term. Minimum deposit is $500. This special isn’t available in an IRA, but there is a special 14-month IRA CD with a 1.40% APY. Xceed is still offering a special 7-month CD and IRA CD with a 1.00% APY and a special 19-month CD and IRA CD with a 1.25% APY. These special CD rates are listed on the credit union's rates page and in the credit union's news &...Continue Reading
PenFed IRA certificates have some nice features, but a reader has recently found out that they’re not as nice as you might think. We have long known that PenFed allows penalty-free partial withdrawals of IRA CDs when the owner has reached 59 ½ . However, there are limitations on the partial withdrawals. First, here’s what is stated in PenFed’s IRA Application Booklet:
Not only are partial withdrawals allowed, but there is no penalty "if the owner has reached age 59½ and takes a partial withdrawal." That is one of four early...Continue Reading
EBSB Direct continues to have a top rate on its money market account. It has a 1.00% APY for balances of $50K to $1 million. For balances between $5K and $50K, the rate is 0.25%. No interest is paid for balances under $5K. New money is required. These rates are listed at the EBSB Direct home page as of 1/9/2014.
When I last reported on EBSB Direct, I was told that they were opening accounts only for residents of Massachusetts. Before that they had accepted customers from New England and New...Continue Reading
Dime Savings Bank is offering a promotional 5-year CD with a 2.10% APY. Minimum deposit is $500, and the maximum deposit is $250,000. This CD special is listed at this Dime page as of 1/3/2014.
Last year Dime Bank stopped accepting deposits from outside New York. If you live in New York, you may still be able to open these CDs by mail if you don't live near a branch. They require you to mail or fax copies of your driver's license and utility bill for identification.
Dime Savings Bank branches are...Continue Reading
Melrose Credit Union just recently increased the rates of all of its CDs. The 5-year CD rate doesn’t come close to PenFed’s, but it’s still very competitive. It has a 2.12% APY. Melrose’s new 1-year CD rate is the most competitive of all the terms. It has a 1.10% APY which is the top 1-year CD rate that’s nationally available. Thanks to DA member OldGuy who posted on this news in the forum. Below is a summary of the new rates as listed at Melrose Credit Union's share rates page...Continue Reading
I’m glad to see PenFed is still offering the very high CD rates. When I first reported on these on December 1st, I was concerned that they may not last through December. As I mentioned, PenFed no longer guarantees the CD rates will last for the entire month. However, I can’t remember a time when PenFed lowered CD rates before the end of the month. In addition, I see PenFed has a rotating banner on its home page advertising the 3.04% 5-year CD, and that banner says "your gift for...Continue Reading
Apple Bank for Savings is offering a checking account promotion with a $100 bonus. Direct deposit is required, but on the plus side, a free checking account will qualify for the bonus. The bank’s free checking account is called ExtraValue Checking. It requires a $100 initial deposit, but there are no minimum balance requirements or monthly service fees. The first order of checks is free. The bank’s interest checking account, Grand Yield NOW Checking, also qualifies. This has a decent interest rate (relative to brick-and-mortar banks) of 0.50% as of...Continue Reading
Those 3% rumors turned out to be true. PenFed is now officially offering a 5-year and a 7-year CD with a 3.04% APY. The rates are listed at PenFed’s certificates overview page as of 12/01/2013. Thanks to the readers who reported on these early. There’s also good news for those who prefer shorter terms. PenFed’s 4-year CD rate increased to 2.22% APY, and the 2-year CD rate increased to 1.41% APY. PenFed’s 3-year CD still has a very competitive 2.02% APY. Below is a summary of the new December rates...Continue Reading
BBCN Bank has two good deposit deals. The first is a money market account special for consumers only. The bank is guaranteeing a 1.00% APY until 12/31/2014 for balances of $50,000 to under $1 million. The second special is a CD promotion for consumer and business customers. It’s a 12-month CD with a 1.10% APY. Minimum deposit is $50,000, and the maximum is $250,000 per customer. Both offers require new money to the bank. The promotion is scheduled to end when the bank’s deposit goal amount is met or on...Continue Reading