Browse through the stories below to view current deals for Maryland banks or select an item from the menu bar above to view current rates in Maryland.
Transportation Federal Credit Union is celebrating its 75-year anniversary with a special CD that it calls the Diamond Anniversary Share Certificate. It has a 2.00% APY with a 3-year term. Minimum deposit is $1,000. This is a limited-time offer. This special CD is listed in the credit union’s promotions page as of 2/21/2014.
The CD can be opened online, by phone or at one of the credit union’s branches. The details are listed in the promotions page.
In 2012 when I reviewed this credit union, there didn’t seem to be...Continue Reading
MountainOne Bank has two nice deposit account promotions. The first is a checking account bonus. Open a VISTA Checking account with $50 and the bank will deposit $50 in your new VISTA Money Market account. So you’ll need to open both the VISTA Checking and Money Market account to qualify for this bonus. Account must be opened by March 31, 2014. Full details are listed in the bank’s home page.
The second promotion is a CD special. The bank is offering a 1.30% APY on a 13-month CD. Minimum deposit is...Continue Reading
Jeanne D'Arc Credit Union has a new CD promotion with a competitive rate. The special is a 30-month CD with a 1.65% APY. It's also available for IRAs and SEPs. Minimum deposit is $250. This rate is listed on the credit union's rates page as of 1/16/2014.
The Primary Savings account has a rate of 7% APY on balances up to $500. Balances over $500 earn 0.15%. With a balance of $500, you'll earn about $30 per year more in this than a 1% account. Since you need to maintain a...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
Lee Bank has a reward checking and savings account called CACHEChecking and CACHESaver. These accounts are powered by BancVue, and they’re similar to Kasasa Cash and Saver accounts. The rates and balance caps are not the best, but they’re competitive. The bank offers an online application that makes it easy for people to open these accounts. Below is a summary of the rates and features of these accounts as of 10/18/2013:
CACHEChecking account rates and ATM fee refunds if monthly requirements are met:
Earlier this year, Leader Bank launched two reward accounts that it calls the Zeugma Checking and Savings accounts. Unlike most reward checking and savings accounts, this doesn’t appear associated with BancVue which has its own unique reward product name (Kasasa). These Zeugma accounts have a few differences than the BancVue version. Some features are better, and some are worse. Below is a summary of the rates and features as of 10/14/2013:
The Zeugma checking account doesn’t pay any interest. Instead, the rewards include the following if the monthly requirements are met:
We are seeing more banks coming out with 2% CDs, and they are not all long-term CDs. One example of this is at Institution for Savings. It just raised its 30-month CD yield to 2.00%. Minimum deposit is $500, and the early withdrawal penalty for this 30-month term is 9 months of interest, earned or not earned. The CD details and the link to the rates page are listed in the bank’s CD page as of 9/11/2013.
This year Institution for Savings has been shortening the term required to earn 2%....Continue Reading
Commerce Bank is advertising a money market special with a 1.10% APY guaranteed until 12/31/2013. It’s called the Boston Blue Ribbon Money Market account. Minimum balance to qualify for the 1.10% APY is $5,000, and the maximum balance is $1 million. The offer isn’t listed at the bank’s website. It was recently advertised in a Boston newspaper. The ad is available online here as of 8/27/2013.
The ad says that this account can only be opened at one of the bank’s Boston locations. These branches are at 1320 Washington Street, Boston;...Continue Reading
HarborOne in Massachusetts just recently changed from a credit union to a bank. When it was a credit union, it had offered several good CD deals. I’m glad to see the deals haven’t stopped now that it’s a bank. HarborOne Bank currently has two good CD deals: a 2.00% APY 4-year CD and a 1.05% APY 7-month CD. Minimum deposit is $1,000 ($500 in an IRA). These rates are listed in the bank’s deposit rates page as of 8/9/2013.
One downside with the 4-year CD is a large early withdrawal penalty....Continue Reading
Northern Bank & Trust Company made a big change to its CD rates yesterday. I reported on this bank last month when it was offering a 1.15% APY 18-month CD. That rate has fallen to 0.75%, but its 3-year CD rate went way up to a very competitive level. The new 3-year CD yield is 1.50%. The 5-year CD rate also went up, but it’s not quite as competitive. The new 5-year CD yield is 1.75%. These rates are listed at the bank’s deposit rates page as of 7/9/2013.
The CD...Continue Reading
Last April I reported on Institution for Savings and its new 2.00% APY 4-year CD. Before that time a 5-year term was required to get the 2.00%. Now customers can get this 2.00% with even a shorter term. This week the bank started to offer a 2.00% APY for a 40-month CD. Minimum deposit is $500, and the early withdrawal penalty for this 40-month term is 9 months of interest, earned or not earned. The CD details and the link to the rates page are listed in the bank’s CD...Continue Reading
Sometimes a bank or credit union will offer higher IRA CD rates than CD rates. That’s the case at Transportation Federal Credit Union. Both of its regular and IRA CD rates are competitive, but the IRA CD rates are exceptional since they’re 25 bps higher. There’s also a rate bump of 10 bps for Jumbo accounts with a $100,000 minimum deposit. Below are three of the credit union’s Jumbo IRA CD rates as listed in the credit union’s savings rates page as of 7/3/2013: