Is There A Section On Depositaccounts.Com For "Senior" Savings Rates?

chasinrates | Aug 31, 2015 | 16 posts since 2015

Some banks offer interest premiums for the 50+ (or older) crowd. Is there a place on this web site where those rates are posted? I don't think there is, but thought I'd ask in case I had missed something.

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Answers

cumulus | Aug 31, 2015 | 1,266 posts since 2010

For members age 50 or older, Velocity Credit Union offers:
..Free checks
..Special loan rates
..Special CD rates on deposits .GE. $5,000.
See Velocity Elite Rewards.

topkapi56 | Jul 5, 2016 | 48 posts since 2011

Every bank I have ever dealt with had perks for seniors. Accounts just for them, safety deposit box discounts, free checks, etc.

Bozo | Jul 11, 2016 | 1,375 posts since 2011

The best "deals" for seniors are often on the flip side, when taking IRA CD withdrawals. For example, a select few financial institutions (StateFarmBank, PenFed, and NWFCU come to mind) permit partial withdrawals from IRA CDs with no EWP for folks over 59 1/2.* Most financial institutions waive EWPs on IRA CDs for withdrawals for RMDs (although the rules vary). As a practical matter, folks at or nearing retirement want to maximize their IRA CD yields (by going "long") while avoiding EWPs.

*I've never seen a comprehensive list of financial institutions which waive IRA CD EWPs for partials for folks over 59 1/2. The "perk" is often buried deep in the fine print.

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