Browse through the stories below to view current deals for Michigan banks or select an item from the menu bar above to view current rates in Michigan.
KeyBank has another checking account promotion. Unlike its past ones, this one offers a free 16GB Kindle Fire HD instead of cash.That Kindle model is currently selling on Amazon for $169. Like before it's an online-only offer, and it’s only available in certain areas of the country that are in KeyBank’s market area (see below). Here’s the link to KeyBank’s promo page. The offer is scheduled to last until February 28, 2014.
The bonus requires that you open a qualifying KeyBank checking account online and enter offer code ONFT0114 by February...Continue Reading
PNC Bank has started to offer a $200 checking account bonus. This is an upgrade to the bank’s usual $150 bonus. You still have to be careful to avoid monthly service charges. Here’s the link to PNC’s promotion page. The offer is scheduled to end on 2/28/2014. You can open the account online or choose to have them email you a coupon to take to a branch. Here's a summary of the requirements to qualify for the bonus:
Fifth Third Bank has a new checking account promotion. They’ll give $150 to Stand Up To Cancer and $150 to you when you open a new checking account with direct deposit and make three online bill payments. The account must be opened by March 31, 2014. The direct deposit and the three online bill payments must be completed within 90 days of account opening to qualify for the bonus. Bonus will be deposited into the new checking account within 6 weeks of completing requirements. The full details of this offer...Continue Reading
Huntington Bank has again come out with a sign-up bonus for its Asterisk-Free Checking. This is one of the rare free checking accounts that still exists at big banks. It has no monthly service fee or minimum balance requirement.
It’s a $150 bonus. Here’s the link to the bank’s promotion page. It’s scheduled to end on 3/14/2014. The bonus is now easier to qualify for. Unlike last year, there’s no debit card usage requirement. This one only requires the following two steps:
Fifth Third Bank has come out with some new CD specials. There are two changes from Fifth Third’s CD promotions from last fall. For most of Fifth Third’s market area, the bank is offering a 1.75% APY 5-year CD. For the Florida market, this long-term CD promotion is a 2.00% APY 6-year CD. The other CD promotions are the same as last fall with a 1.50% APY 4-year CD, a 1.25% APY 38-month CD and a 1.00% APY 28-month CD. Minimum deposit is $5,000, and a new or existing checking...Continue Reading
Michigan State University Federal Credit Union has promotional rates on its 5-year and 4-year CDs and IRA CDs. The Jumbo 5-year CD is an especially good deal with a 2.11% APY. The Jumbo 4-year CD has a 1.76% APY. Minimum deposit is $100,000. The non-Jumbo yields for these two CDs are 26 basis points lower. These require a $500 minimum deposit. For this promotion, the credit union is adding an additional 25 basis points to these CD rates. That is scheduled to end on November 30, 2013. Please refer to...Continue Reading
We’re now seeing some large banks raising their long-term CD rates. The latest is Fifth Third Bank which is offering a special 4-year CD with a 1.50% APY. You can get a higher 4-year CD rate at a few internet banks and credit unions, but this 1.50% APY is competitive especially for large banks. There are also shorter-term CD specials: a 1.25% APY 38-month CD and a 1.00% APY 28-month CD. Minimum deposit is $5,000, and a new or existing checking account is required. These rates are listed in Fifth...Continue Reading
PNC Bank continues to offer a $150 checking account bonus. Since my last report on a PNC checking promotion, new fees have been announced. So it will require more caution for those who decide to give this promotion a try. Another change is that the promotion is available in fewer states (see below for the list of states).
Here's the link to PNC's promotion page. The offer is scheduled to end on 9/30/2013. You can open the account online or choose to have them email you a coupon to take to...Continue Reading
We have finally been seeing some rising 5-year CD rates, but there’s little incentive to lock into a 5-year term if rates continue to rise. The CD special at Consumers Credit Union helps to ease that concern. It’s called the Homerun CD, and it has a 2.00% APY for a 5-year term. There’s also a 17-month Homerun CD with a 1.00% APY. Both allow for one penalty-free withdrawal during the term. The downside is that they require an active checking account. Minimum deposit is $1,000, and the maximum is $250,000...Continue Reading
I know some people have avoided reward checking accounts because they don’t like debit cards. Most all reward checking accounts require monthly debit card purchases to qualify for the high yield. There are a few which don’t have this requirement. One is Mercantile Bank of Michigan. It has a reward checking account called WOW Checking. This still has monthly activity requirements, but customers can meet these requirements without debit card purchases. Below is a summary of the rates and requirements of this account as listed in the bank’s WOW Checking...Continue Reading
KeyBank has another checking promotion that it has been advertising. Thanks to the readers who emailed me news on this. The promotion offers a $200 bonus which is larger than many of the past bonuses. Like before it's an online-only offer, and it’s only available in certain areas of the country that are in KeyBank’s market area (see below). But unlike past promotions, the only requirement is direct deposit. There’s no debit card usage requirement.
KeyBank doesn’t have the best reputation among many DA readers. You can read the problems customers...Continue Reading
Flagstar Bank is offering a nice savings account promotion for Michigan residents. Flagstar is guaranteeing a 1.00% rate for the first six months on its SuperSmart Savings Account. The rate is good for balances of up to $10 million. New money is required. This rate is listed at Flagstar’s SuperSmart promo page as of 5/21/2013. Note, this page shows a 1.00% 6-mo interest rate and a 0.70% APY. That’s due to the APY being based on the average rate during the first year. After the first six months, a standard...Continue Reading