NetBank is offering a $50 Visa cash card for opening a CD with a minimum of $2k for at least 1 year. NetBank's 12-month certificate currently pays 4.80% APY which isn't bad for a 12-month CD. This offer seems to only be available to current NetBank customers. The promotion is running until March 31 '06. Thanks to the reader who sent me this deal in the mail and also the reader who posted it here!
For those not yet a NetBank customer, the $175 promotion seems to still be valid. Also, NetBank's iPod shuffle promotion is still active through this month. So you could get these bonuses and then another $50 for this new CD promotion. NetBank seems to be continuing these types of promotions. Its latest one is with TigerDirect.com and is similar to the $175 promotion except that the bonuses are in TigerDirect.com gift cards. Also, it's only $160 in value. If the $175 promotion expires, this Tiger one may be the next best one.
NetBank's Warns of a Weak First Quarter
On a side note, NetBank reported fourth quarter earnings a few days ago and warned of a weak first quarter. This Motley Fool article describes how the flattening yield curve and the tough competition are affecting NetBank. It'll be interesting to see if NetBank continues these promotions. They may not help NetBank's profits but it could be the reason why NetBank reported moderate increases of 6% year over year in both customers and deposits.