IndyMac Bank still in the game at 5.70%

With online banks from the East Coast to the West Coast dropping deposit rates on savings accounts and CD accounts, Indymac Bank as of 11:19 AM CST September 20, 2007 is still offering a 5.70% APY on their 5-month and 6-month CD terms. IndyMac Bank has been the subject of a lot of media scrutiny over their exposure to the sub-prime mortgage industry. IndyMac's officials have seemingly been on top of the situation with a number of moves to trim expenses and exposure to mortgage delinquencies and their stock price (IMB) has reacted with a boost of 30% from it's 52-week low. Savings investors can be reasonably assured that Indymac will stay afloat at least for six months and have the safety and security of FDIC insurance to fall back onto in the event of a bank failure.

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