Where to Find 5.00% Bank Rates?
July 01, 2008
The list of best bank deposit rates at the beginning of 2008 was topped by Countrywide Bank and One United Bank both offering savings accounts with yields over 5.00%. After a quick and substantial march down in rates (following large rate cuts by the Federal Reserve) bank rates have started to increase again in the last few weeks. EverBank is is offering the top yielding money market and checking account with their 4.76% APY introductory offer and another 50 banks are offering yields of at least 3.25% on savings or money market accounts. These rates have been slower to increase than CD rates, but by the end of 2008 5.00% yields are expected to be available again. [Check Money-Rates.com for the very latest rate deals] A small number of banks have jumped into the market with 5.00% and higher CD rates available on terms of five years or longer. The banks offering the 5% yields include:
KeyDirect (5-year CDs, 7-year CDs, 10-year CDs)
Capital One Bank (5-year CDs, 7-year CDs, 10-year CDs)
E-Loan Bank (5-year CDs)
Raymond James Bank (5-year CDs)
GMAC Bank (5-year CDs)
Atlantic Coast Bank (5-year CDs)
Citizens Bank (5-year CDs, Available only in Wisconson, Michigan, and Ohio)
View the complete list of the highest rates on bank CDs.
Anonymous
3 July 2008 at 10:30 am
yikes the banks are finally increasing rates. There are a lot more +5% rates on the Money-Rates.com 5-year list now. 5.25% looks to be the highest