Missouri Banking Rates and News

PNC Bank continues to offer a $100 bonus for opening its Virtual Wallet with Performance Spend and for performing certain activities. PNC has made it a little easier to qualify for the $100 bonus compared to last year. However, customers will have to be careful to avoid fees. The Performance Spend is an "upgraded" version of Virtual Wallet, and it has potential monthly fees.

Here's the link to PNC's promotion page. The offer is scheduled to end on 6/30/2012. You can open the account online or choose to have them email you a coupon to take to...

Update 5/25/2012: The 5-year Premium Money Market CD rate has fallen. According to the CSR, it's now 1.65% APY (down from 1.80% APY on 5/11). This is for California. Rates may vary for other states.

It's not common to find competitive CD rates at large brick-and-mortar banks, but I found one at Bank of the West. It's offering a 2.00% APY 5-year CD. This is the bank's Premium Money Market CD which requires a $2,500 minimum deposit. The rate isn't listed online, and it may vary by state. I called the bank yesterday (3/27/2012) and verified it for the bank's...

Alliance Credit Union is offering a competitive 5-year CD and IRA CD rate. It has a 2.16% APY with a minimum deposit of $1,000. The shorter term CDs are not quite as competitive. Some of these include a 1.61% APY 4-year CD and a 1.41% APY 37-month CD. These rates are listed in the credit union's rates page as of 3/27/2012.

In addition to these regular CDs, the credit union has an interesting type of CDs that it calls Income Now CD. These are designed to provide a pre-determined monthly payment made up of both principal and...

Bank of the West has just started a new checking account promotion with a bonus of up to $100. In addition, the bank will donate $25 to local schools. You can also earn another $25 by opening a credit card with the checking account. I didn't include this in the total bonus since there are many credit card bonuses that are over $25.

Bonus Details are listed in this Bank of the West promotions page. The checking account must be opened by 4/27/2012.

If you decide to give this promotion a try, don't forget Bank of the West...

• 2.50% APY 7-year CD (was 2.76%)
• 2.00% APY 5-year CD (was 2.25%)
• 1.74% APY 4-year CD (was 2.00%)
• 1.25% APY 3-year CD (was 1.50%)
• 0.99% APY 2-year CD (was 1.25%)
• 0.90% APY 1-year CD (was 1.16%)

PenFed calls their CDs...

When I first reported on Morrill and Janes Bank in 2010, many readers jumped on its great nationwide checking account deal. The bank was offering very competitive rates on its Elite Checking and the Treasury Index Account. The deal lasted for over six months, but in 2011 the bank started to limit new accounts to Kansas and Missouri residents. The rates also fell. However, the rates continue to be competitive, and these accounts continue to be a good deal for KS and MO residents.

The bank's Elite Checking has a 1.06% APY on daily balance of $1,500.00 and above....

American Bank of Missouri is advertising a competitive CD and money market account special. The best deal is the CD special which has a 1.50% APY and a 8-month term. Minimum deposit is $5,000. The money market account special has a 1.00% APY for a minimum $25K balance. That rate is guaranteed for six months from account opening. These specials don't seem to be listed at the bank's website. They were advertised in the February 10th St. Louis Post-Dispatch. The ad is available online here as of 2/13/2012.

It appears a branch visit is required...

There had been rumors that Pentagon Federal Credit Union (PenFed) was going to finally start offering 10-year certificates to all members in January. A reader reported that he was told by a CSR the yield would be 3.00%. I wasn't able to confirm this 10-year CD last week, and there isn't any mention of this new CD at PenFed's website. New January rates are posted with no mention of a 10-year CD or IRA CD.

There is some good news with PenFed's January rates. First, the 1-year CD yield has increased from 0.99% to 1.16% APY. This is...

In today's awful interest rate environment, the only deposit account where you can find yields of 4.00% is the reward checking account. Even long-term CDs don't have yields this high. However, there are not many 4.00% reward checking accounts. Rates and balance caps have been falling. As I described in my reward checking overview, reward checking accounts only offer high yields for balances up to a certain cap. For those with large savings, this cap is as important as the rate. Many consider a balance cap of $25,000 to be the minimum cap that makes the reward checking account...

North American Savings Bank is offering a new special CD with two competitive rates. It's a 13-month CD, and the highest rate is 1.31% APY. This requires that you are an existing customer with a checking account or savings account opened before August. Without this relationship, the rate is 1.25% APY. Minimum deposit is $1,000. These rates are listed in the bank's rates table as of 12/12/2011.

There's an online application via andera.com. However, the online application only lists the standard CD terms. When I emailed the bank about this last year, I received the...

Beal Bank has some good deals on short-term CDs. However, the best rates are only in a few cities where it has branches. You can check what rates are available in your area by entering your zip code in Beal Bank's CD page. I did this for zip codes of most of the cities where Beal Bank has branches. The city with the best 1-year CD rate is San Diego with a 1.15% APY. Three other cities have 1-year CD rates of 1.10% APY. These include Winter Park, Florida (Orlando metro), Frontenac, Missouri (St Louis metro)...

Many of the best reward checking deals are only available in small areas of the country. These are local deals that often require a branch visit. There are a few good deals that are available online to all residents of one or more states. I covered a few of these in this October post. I found another one of these today at Heritage Bank of the Ozarks which has a reward checking account available to Missouri residents. It's called Kasasa Cash, and it has the following rates and features if certain monthly requirements are met...