Another 4.65% 5-month CD
POSTED ON BY Ken Tumin
World Savings Bank started offering a 5-month 4.65% CD to select customers last week. As I mentioned in this post, World Savings didn't advertise this promotional rate to the general public, but if you call and mention this CD, they seem to be willing to honor it.
Now Affinity Bank is offering this same 4.65% APY 5-month CD. Unlike World Savings, it is being advertised to the general public on their website. There is a $10K minimum deposit requirement. The small print of this promotion states that it's available for new money only with a $100,000 maximum per household and is only for a limited time.
Affinity Bank has 6 branches in the following California cities: San Francisco, Irvine, Camarillo, Pacific Palisades and Ventura. If you live in another state, it looks like you can still open an account. The bank does have the open-account application online, but it has to be printed and mailed along with the initial deposit check.
Now Affinity Bank is offering this same 4.65% APY 5-month CD. Unlike World Savings, it is being advertised to the general public on their website. There is a $10K minimum deposit requirement. The small print of this promotion states that it's available for new money only with a $100,000 maximum per household and is only for a limited time.
Affinity Bank has 6 branches in the following California cities: San Francisco, Irvine, Camarillo, Pacific Palisades and Ventura. If you live in another state, it looks like you can still open an account. The bank does have the open-account application online, but it has to be printed and mailed along with the initial deposit check.
What could be better for the kids than to make $50 a year on only $500? (They also will get a cute piggy bank as part of the deal.) The only stipulation is that the custodian must have or open an account with them as well.
Yes, nothing teaches kids about savings and interest rates better than earning 10%. I wonder how many kids have savings account at Bank of America earning only 0.5%. That would likley teach kids that it's not worth it to save.
-Ken