4.00% Savings Account Until 1/1/2009 at an Oklahoma Bank (UMB)


UMB Bank is advertising a 4.00% APY on its Premium Savings Account for balances over $10,000. The yield is guaranteed until 1/1/2009. The maximum deposit limit is $500,000. The yield for balances under $10,000 is 0.25%. This special doesn't seem to be listed at the bank's website. It was advertised in the 7/30/08 issue of The Oklahoman newspaper. The ad is available online here.

Branches are located throughout Oklahoma City. There are also branches in Colorado, Kansas, Missouri, Arizona, Illinois and Nebraska. However, this special may only be available in Oklahoma.

The bank has a 4-star rating (excellent) at BauerFinancial based on 3/31/08 data. It has been FDIC insured since 1934 (FDIC Certificate # 8273).
Anonymous   |     |   Comment #1
I applied to UMB for their 4%Premium Savings on line this morning. The process is not as easy as I thought because I must first apply for the Free Checking Account (you must have an account with UMB before you can apply for the 4% Premium Savings). I applied online and now have the signiture cards to sign and mail in with the $100 deposit.
This yield is only available to apply for until 8/6. The Rep assured me that if I got the application opened right away that they would work with me to obtain that 4% APY and then it is good until 1/109.
Anonymous   |     |   Comment #2
Some notes:

I also opened up an account-- in person, and can tell you this really is a first rate bank. The customer service is five-star! The bank is performing extremely well (take a look at stock market reports), making a good profit, and did not get involved in the sub-prime mess.

A reminder for those placing less than $25K in the bank, there is a $25 monthly service fee.

All in all, thank you banking guy for this lead.
Banking Guy
Banking Guy (anonymous)   |     |   Comment #3
Thanks for sharing your experience and the additional details. I wasn't able to get the details this morning from the CSR.
5.50% Money Market Account Promotion at UMB Bank
UMB Bank has a money market account promotion with a rate of up to 5.50% APY with balances over $10K. The rate is guaranteed until July 1, 2007. It must be opened by February 24th or by March 1st if you print out their rain check and bring it with you.

UMB doesn't do a good job at disclosing an important issue. The rate is only 5.25% APY for balances over $10K if certain conditions are not met. There's no mention of these conditions in the promotional webpage. So I called...

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