The Ten Best Online Bank Deals

A year ago online banks were offering over 6% on an online savings account, but today a much lower rate qualifies as a “good deal”. Bank withe deposit rates over 3% are dwindling, so instead consumers are becoming more interested in some of free cash and gifts available for opening a new account at a bank. Listed below are “The Ten best Online Bank Deals” as selected by The Savings Investor:

(1) National City Bank is giving away a $150 VISA gift card to new customers who open an Elite Checking account, set-up payroll direct deposit of at least $250, and make at least 10 National City VISA checkcard purchases within the first 60 days. Offer expires March 12, 2009.

(2) A 10.00% APY from Affinity Bank on their savings account for kids only (applies to balances up to $500 and only California residents are eligible)

(3) Wachovia Bank’s Way2Save Program is a savings progam in which Wachovia Bank will pay up to $300 to customers for Wachovia Bank check card purchases, paying bills online, or seting up automatic debits. Each transaction earns $1 which is transferred into the savings account. Wachovia Bank is listing a 5.00% APY on their site as a first-year bonus for the savings account.

(4) A 5.13% APY from Neighborhood National Bank on a 5-year CD fo Individual Retirement Accounts (IRAs). ($1,000 minimum)

(5) EverBank High Yield Money Market Account with a 3.51% intro 3-month bonus rate. Minimum opening deposit and balance to avoid fees of $1,500

(6) Citibank is giving away up to $225 in gift cards for customer who earn ThankYou points from checking and money market account activity. To qualify customers must open a new relationship checking account with at least $1,000 by 3/31/2009. Other restrictions and rules may apply.

(7) 3.75% APY from 1st Mariner Bank on their 10-month hybrid High Yield Savings / CD. ($5,000 minimum)

(8) Franklin Templeton Bank & Trust is offering a $50 bonus to new customer who set up direct deposit with their Classic checking account.

(9) Capital One Bank’s Reward Money Market Account allows customers to earn rewards miles each month based on their average balance and deposits. Rewards miles can be redeemed for travel, cash, and merchandise.

(10) Chesapeake Bank Clear Sky Account Online Savings Account with a 3.25% APY on balances over $25,000

More online bank deals are listed at Money-Rates.com.