MoneyRates Blog
Virtual Bank Increases Rates on Money Market Accounts, Savings Accounts, and CDs
July 29, 2008
By MoneyRates team | Money-Rates Columnist
By MoneyRates team | Money-Rates Columnist
Virtual Bank is division of Lydian Private Bank which has been operating as an “internet-only” bank for over 5 years. Without branch overhead VirtualBank has been able to consistently pay some of the top rates on their deposit products. VirtualBank increased rates this week with the following rates available to online banking customers:
eMoney Market Accounts with $100 minimum opening deposit
3.05% APY on balances over $25,000
3.52% APY on balances over $50,000
VirtualBank CDs with $10,000 minimum opening deposit
1-month CD 3.05% APY
2-month CD 3.05% APY
3-month CD 3.46% APY
6-month CD 3.72% APY
1-year CD 4.13% APY
2-year CD 4.34% APY
3-year CD 4.34% APY
4-year CD 4.34% APY
5-year CD 4.60% APY
VirtualBank Checking Account with a minumum opening deposit of $500
2.02% APY on balance over $50,000
VirtualBank considers their customer service open 24 hours a day 7 days a week because accounts can be opened at anytime or account information accessed, but to talk to a customer service rep (#877-978-265) consumers have to call between 8:30 AM and 5:30 PM EST. More information about Lydian Private Bank (FDIC number 35356) can be found on the FDIC website.
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