2.30% 17-Month CD at Bank of American Fork in Utah - Local Only


Bank of American Fork has two CD specials. The most competitive one is a 2.30% APY 17-month CD. The other one has 2.50% APY for a 35-month term. Minimum deposit is $5,000, and a checking account is required. These specials are listed in the bank's CD rates page as of 9/06/09. A branch visit is required to open a CD.

The bank offers a reward checking account with a 3.60% APY as of 9/06/09 for balances up to $25,000 if the typical reward checking requirements (see post). It has no monthly fee or minimum balance requirement.

Bank of American Fork also offers an online savings account called SaveSmart Direct with a 1.60% APY for balances of of $1K to $250K as of 9/06/09. Unlike the other accounts, this savings accounts is available nationwide. There's an online application which allows funding via ACH from you existing checking account (see post).

Branches are located in the Utah cities of Murray, Sandy, Draper, Riverton, Highland, Lehi, Saratoga Springs, Alpine, American Fork, Pleasant Grove, Orem and Spanish Fork.

Bank of American Fork has fair ratings for safety and soundness: 3 stars (adequate) at BauerFinancial and 3 stars (performing) at Bankrate.com. Both ratings are based on 3/31/09 financial data. The bank has been a FDIC member since 1934 (FDIC Certificate # 12773).

Other Competitive Certificate of Deposit Rates
New High-Yield Online Savings Account at Bank of American Fork - Nationally Available
Update 9/05/09: Rate for balances of $1K to $250K has fallen from 1.75% to 1.60% APY. Over $250K, the rate has fallen from 1.80% to 1.70% APY.

Bank of American Fork has started an online savings account called SaveSmart Direct. The rates are fairly competitive. As of 5/11/09, it has the following tiered interest rates:
  • 0.50% APY for $10 to under $1,000
  • 2.20% APY for $1,000 to under $250,000
  • 2.30% APY for $250,000+
Unlike some other recent new internet bank launches, there's no intro period. So these rates are subject to change weekly. The rates...

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3.60% Reward Checking Account at Bank of American Fork in Utah
Update 2/22/09: The top rate has fallen to 3.60% APY.

Bank of American Fork is offering a reward checking account called MyRate Checking. It pays 3.60% APY on balances up to $25,000 (1.01% for above) and provides unlimited nationwide refunds of ATM fees if the following monthly requirements are met:
  • 12 Visa check card purchases
  • one direct deposit or automatic payment
  • receive electronic statements
If these are not met, the rate falls to 0.25%. The minimum initial deposit is $10. There are no monthly service fees and no minimum balance requirements.

It appears that a branch...

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