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Don't Overlook Nuvo Bank In Springfield, MA

Tuesday, June 14, 2011 - 11:22 AM
With an APY currently of 2.02% for a savings account of up to 25K, the money can be taken out any time. Likely you will have to go there in person to initially open the account but the rate has been consistent for months. I see that the bank is no longer listed on the Savings Account portion as well as using MA as the local filter. My wife and I each opened a 25k account and the 50k is on hold for when CDs come back up. Better than the 1.0% ING Direct rate! 

sabre82afsabre82af20 posts since
Mar 25, 2011
Rep Points: 56
1. Tuesday, June 14, 2011 - 11:38 AM
Thanks for the info on Nuvo Bank's savings account. That is a good deal. We do list Nuvo's rates, but they are currently being reviewed. They should be relisted soon. You can check the status at our Nuvo Bank hub page.
Ken TuminKen Tumin5,472 posts since
Nov 29, 2009
Rep Points: 125,708
2. Tuesday, June 14, 2011 - 12:33 PM
Thanks Ken-The bank verified the rate to me on the phone this morning June 14. Although the bank has no branches and  is 3 years old, I get immediate, courteous responses when calling them. I just wish the 25K per person had a higher cap. Anyone in the country can join. It is a bona fide traditional savings account at that rate.
sabre82afsabre82af20 posts since
Mar 25, 2011
Rep Points: 56