IndyMac Bank Increases Deposit Rates

IndyMac Bank (FDIC# 29730) has increased their rates this week on specific deposit products. The most attractive rates include:

5-month CD - 5.41% rate, 5.55% APY, $5,000 minimum
9-month CD - 5.21% rate, 5.35% APY, $5,000 minimum
1-year CD - 5.41% rate, 5.55% APY, $5,000 minimum
Internet First Money Market - 5.60% rate, 5.75% APY, $5,000 minimum

Terms for CD accounts: - Minimum to open is $5,000 (Internet Only).

· Terms are from 90 days to 5 years.

· For customized terms, other than those listed above, please call our Customer Contact Center.

· Interest is compounded daily and paid or reinvested into the account monthly or at maturity. The interest rate depends on the term of the CD.

· A penalty will be assessed for early withdrawal.

· For your convenience, your CD renews automatically for the same term at the current rate at that time.

Terms for the Internet First Money Market - Interest is compounded daily and paid or reinvested into the account monthly. Interest tiers feature higher interest for higher balances starting at balances of $1,000. No interest is paid for each day that your balance falls below $1000.

· Monthly fee: $7 if your balance falls below $1,000 during the month.

· Check writing: Three checks per statement cycle are allowed.

· Bill Pay is not available.

· Visa Check Card is not available.

· ATM access is available. Indymac Bank will not charge you a fee for using any Indymac Bank ATM.

· Free Check Safekeeping-Cleared checks will be retained for you. Requests for paid checks copies can be made through our Contact Center at 1-800-750-8521, or via e-mail customercare@indymacbank.com. For $1 per month you can have all cleared checks returned with each statement.

More details available here.

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