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

chasinrates
chasinrates   |     |   6 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.



Answers
Ken Tumin
Ken Tumin   |     |   5,771 posts since 2009
There currently is not a section dedicated to senior savings rates. I have come across a few banks and credit unions that offer premium rates to seniors, but I'm not sure if we have identified enough to make a new section or table. I'll be sure to keep an eye out for them, and if we can identify enough of them, we'll see about a new section. Another possibility is a blog post with a listing of several banks or credit unions that offer them. Thanks for your question.
paoli2
paoli2   |     |   2,227 posts since 2011
From my own experience with dealing with banks, credit unions etcs. on savings rates, I have never found one which had better rates for just being a "senior".  Since a lot of their deposits are from retirees who are seniors, one would think this would be a good idea.  However, as yet, I have never found any offered.
Kennewickman
Kennewickman   |     |   15 posts since 2013
Northwest FCU  has a free Heritage Club for 62 and over. Get extra 0.10 to 0.25% on certificates over 1 year. 0.25%  is for $100,000+
CapitalClimate
CapitalClimate   |     |   30 posts since 2011
Northwest's Heritage Club also offers free wire transfers, which is especially useful in light of their limits on ACH transfers.
cumulus
cumulus   |     |   930 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
topkapi56   |     |   42 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
Bozo   |     |   280 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.