Browse through the stories below to view current deals for Virginia banks or select an item from the menu bar above to view current rates in Virginia.
Cardinal Bank has two good deposit deals. The first is a CD special. It has a 3-year term and a 1.67% APY. Minimum deposit is $1,000, and the maximum is $1 million per household or business. New money is required (money not currently on deposit with Cardinal Bank). This special is also available in an IRA. Full details are listed in this bank’s promotions page as of 8/22/2014.
The other good deposit deal is a reward checking account. It’s called First Choice Checking. You can earn 1.01% APY on balances up...Continue Reading
To commemorate its 150th anniversary, First Tennessee Bank National Association (FTB) is offering three different bonuses ($100, $150,or $200) when you open a new checking account. Each bonus is associated with a separate promotion, and each bonus is connected to specific checking accounts.
All the checking account promotions have several requirements in common which must be met to qualify for the bonus.
Basic Promotion Requirements
Capital One is again offering a nice bonus for new business checking accounts. It’s not as nice as last year’s bonus, but it’s still a good deal. The current bonus is $250, and it’s scheduled to last until 4/30/2014. If it’s like past promotions, Capital One will probably extend it. The promotion requires a branch visit (see below for branch locations).
Here’s the link to the promotion at CapitalOne.com, and here’s a summary of what’s required to earn the $250 bonus:
PNC Bank has some new promotions for its Virtual Wallet accounts. If you live in one of the qualifying states, you can earn up to $400 in bonuses. This is a big increase from its past promotions. You still have to be careful to avoid monthly service charges.
Here’s the link to PNC’s $400 promotion page. The offer is scheduled to end on 8/29/2014
5/31/2014. You can open the account online or choose to have them email you a coupon to take to a branch. There are three levels of bonuses....
Unlike most checking account promotions, this one at First Citizens Bank doesn’t require direct deposit. There are other ways to qualify for the bonus without direct deposit. On the downside, it’s similar to most checking account promotions in that the qualifying checking accounts have potential monthly service fees. If you’re careful, this promotion can be a good deal. Here’s the link to the bank’s promotion page.
To receive the $150 bonus, you’ll need to open either a new Premier or Prestige checking account with a new debit card by April 30,...Continue Reading
Franklin Federal Savings Bank in Virginia continues to offer top rates on its long-term CDs. The highest rate is a 7-year CD which has a 2.73% APY. Minimum deposit is $500, and it’s also available as an IRA certificate. Below is list of all of the bank’s competitive long-term CD rates. These are listed on the bank’s certificates rate sheet as of 3/14/2014.
The rates for the...Continue Reading
M&T Bank has long been offering promotions for its MyChoice Checking account. In the latest one you can earn a $100 cash bonus for opening the MyChoice Checking Account and setting up direct deposit. The promotion is scheduled to last until 6/27/2014. Please refer to the bank’s promotions page for the full details.
The offer’s small print has the details about the direct deposit requirements and what qualifies as direct deposit:
MyChoice Checking is not a free checking account. According to the MyChoice Checking page, there's a $6.95 monthly fee unless you...Continue Reading
I’m seeing a few more CD specials with competitive rates. A recent one is the CD specials at ABNB Federal Credit Union in Virginia. It’s offering five CD specials. The three best deals are the 2.60% APY 63-month CD, the 1.60% APY 39-month CD and the 1.10% APY 15-month CD. These require a minimum deposit of $100,000. For a $20,000 minimum deposit, the rates drop by 5 basis points for the 63-month and 39-month CD. The rate is 10 basis points lower for the 15-month CD special. The rates...Continue Reading
BB&T has brought back its $125 checking account promotion. Like the one last year, you can qualify for the bonus without direct deposit. That’s rare these days. The one downside remains the same. All of BB&T's checking accounts have potential monthly service fees. So if you open the checking account for the bonus, you have to make sure to avoid the fees.
To qualify for the $125 bonus, customers must open a BB&T checking account and either 1) use online bill pay for 3 bill payments with a minimum payment of...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:
PenFed will be lowering most of its CD rates in February. This isn’t official since these rates are not yet posted on PenFed’s website. I learned of these rates from a PenFed customer service representative in a phone call this morning. Near the end of the month PenFed’s board of directors approves the CD rates for the next month. Once they’re approved, the CSRs are typically notified of these new rates by an internal email. Thanks to DA reader Lou for first reporting on this news in the forum.
One important...Continue Reading
PenFed IRA certificates have some nice features, but a reader has recently found out that they’re not as nice as you might think. We have long known that PenFed allows penalty-free partial withdrawals of IRA CDs when the owner has reached 59 ½ . However, there are limitations on the partial withdrawals. First, here’s what is stated in PenFed’s IRA Application Booklet:
Not only are partial withdrawals allowed, but there is no penalty "if the owner has reached age 59½ and takes a partial withdrawal." That is one of four early...Continue Reading