Sunday, January 23, 2011 - 1:37 PMGiftsforBanking.com
Giftsforbanking is giving away two Ralph Lauren robes and champagne flutes for signing up for new 2 or 3-year CDs - minimums apply.
Expires midnight Feb 14th.
Follow the link for more info. This bank (Flushing Bank) has been giving some of the CD highest rates consistently over the past 6 months.
1. Monday, January 24, 2011 - 12:00 PM
I'd rather get cash and a higher interest rate than their gifts and a measly 1% ($10,000 minimum) for a 2-year and 1.25% ($5,000 minimum) for a 3-year CD. What's so great about that? Besides, the value of the gifts (including applicable sales tax and delivery costs) is considered as interest for tax purposes (Form 1099-INT) in the first year the account is opened. IMO, this is a great deal for the bank and not the customer.
413 posts since
Oct 15, 2010
Rep Points: 1,702
2. Monday, January 31, 2011 - 7:25 PM
Let me understand: you'd rather get an extra $100 (0.5% on $10k for 2 years) than $400 in gifts??
I don't know exactly how much the gifts are worth but it's a lot more than $100.
Yes you get a 1099 but your $100 isn't tax free either.
Please explain.....to me this is a pretty good deal.
3. Wednesday, February 2, 2011 - 3:36 PM
I have had a pleasant experience with giftsforbanking.com in the past. They have the greatest gift ideas and the process from start to finish has been very pleasant for me.
7 posts since
Feb 2, 2011
Rep Points: 10
4. Friday, February 4, 2011 - 8:13 AM
this is great, if you need robes and flutes. If you don't, it's just clutter and I'd prefer the cash.
2 posts since
Feb 3, 2011
Rep Points: 15