Saturday, June 12, 2010 - 1:17 PM

Incrediblebank Blended 12 mo CD

Ken,

When I noticed that IncredibleBank has gone missing from the checking accounts rate page I was worried that they'd fallen from grace. On further investigation their 1.53% apy checking account is still available and they're now offering a blended 12 mo CD - first six months @ 1.75%, second six months @ 2.25%, 10k-225k deposit range, averaging just under 2.00% which puts it near the top of the list. You may want to update data.

CraigPD93 posts since
Jun 12, 2010
Rep Points: 326

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This post applies to all states.
Incredible Bank CD Features as of 6/12/2010:

First six months earns 1.75% APY. Second six months earns 2.25% APY.
$10,000 minimum deposit to open the CD. $10,000 minimum balance to earn the stated APY.
Maximum of $225,000 allowed to be invested in one or more IncredibleBank certificates of deposit.

Incredible Bank's CD FAQs

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Summary

1. Saturday, June 12, 2010 - 2:43 PM

Thanks! That CD is a great deal that I had missed.

I think the checking account was temporarily removed from our tables due to a change in their website format. We automatically update the rates, but if the bank's website changes, we have to manually review it.

I just reviewed it so it should now be listed. Also, I added the 12mo CD. This looks like a great deal. I'll mention it in my weekly summary, plus I'll do a new blog post of it tomorrow.

They have some CD details in their CD FAQs. Unfortunately, I can't find the blended APY on their website. They just show 1.75% APY for first 6mo and 2.25% APY for the second 6mo. The FAQs say they compound quarterly. Based on this info and the CD calculator at Bankrate, I get a 12-mo blended APY of 2.00% (1.9978% to be exact).

KenBDG5,178 posts since
Nov 29, 2009
Rep Points: 117,676