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Bank Of Internet Is Offering 2.51%APY Bonus For 3 Months

Tuesday, September 27, 2011 - 5:45 PM
Has anyone heard anything good bad or ugly about Bank of Internet and/or Sun Cities Financial Group. If you go to https://www.bofiadvisor.com/Current-Rates.aspx then they offer a 2.51% bonus APY. However if you go through Suncities FG, you get 3.50% for a 6 month CD. Sounds too good to be true and hence the skepticism. Has anyone heard anything good or bad abt these two
2
ssss1 posts since
Sep 27, 2011
Rep Points: 2
1. Tuesday, September 27, 2011 - 6:30 PM
I gave Bank of Internet a call about this, and I confirmed that bofiadvisor.com is a division of Bank of Internet, and they are offering a promotional 2.51% APY (up to $100K) guaranteed for 3 months on one of their savings or money market accounts.

However, to apply, you must have an "advisor code" and "advisor name". You can see this in their online application.

I also confirmed that Sun Cities is one of their approved advisors.

Last year I noted Sun Cities as one of the financial companies that advertise very high CD rates in newspapers. Please refer to this blog post to see why and how companies like this can offer these high CD rates. In short, you will likely have to visit their office and listen about their annuities or other non-bank products.
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Ken TuminKen Tumin5,442 posts since
Nov 29, 2009
Rep Points: 123,743
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