Online Bank and Credit Union Rate Deals

Online banks and credit unions are offering deals with with good rates including specials between 3.60% APY and 10.00% APY for online investors. Listed below are some of these Credit Union and Bank rate deals available today. Each deal has it’s own restrictions and limitations including balance requirements and geographic requierements. Check with the issuing [...]

The Fed and Online Bank Rates and Deals

The bad news for online bank investors is that the Fed is very likely to drop rates 25 or 50 points at this week’s meeting, but the good news is that it appears most online banks have already factored in that rate cut into this week’s rates and we don’t expect a large reduction in [...]

Great Online Bank Rate Deals on Money Markets, Checking Accounts, Savings Accounts, and CDs

Interest rates have been dropping at banks across the country as the Fed looks likely to lower rates at their next meeting on January 30th if not sooner. Competition among the top online banks has kept the highest-posted rates over 5.00% which is significantly higher than U.S. Treasuries yields, Short-Term U.S. Government Bond Fund Yields, [...]

An Online Bank Delivering High Rates on Deposits

Umbrella Bank is the online division of New South Federal Savings Bank (FDIC# 32276) a 75-year old bank based out of Alabama (See FDIC Report here). Umbrella Bank through their website Umbrellabank.com has been offering deposit rates ranking in the top 1% of all FDIC banks for over 5 years. Customers of UmbrellaBank have reported [...]

Online Bank Rate Update: November 1, 2007

Bank Rate Specials [CDs, money markets, checking, and savings]
10.00% APY from Wauwatosa Savings Bank on the first $1,000 of a new checking account balance. Rate guaranteed until April 1, 2008
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).
6.25% APY from [...]

Bank of America’s Risk Free CD

Bank of America is offering a CD which allows investors to withdraw funds prior to the maturity date without incurring a penalty.

Account Features:
* The ability to withdraw funds prior to the maturity date without penalties
* A minimum deposit of $5,000 and a short 9 month term
* A rate you would typically expect from a [...]

Mutual Bank in Chicago Keeps 5.00% Rates

Mutual Bank based in Chicago, Illinois is one of the few online banks still holding their deposit rates on CDs at 5.00% or higher from 1 year to 5 years. Current rates as of October 4, 2007 are listed below:
12 month CD
$2,500 minimum5.00% monthly
18 month CD
$5,000 minimum4.85% monthly
24 month CD
$5,000 minimum5.20% [...]

KeyDirect’s 6.05% APY 10-year CD

KeyDirect has increased rates this week on their longer term deposits:
5-year - 5.14% Rate / 5.26% APY7-year - 5.51% Rate / 5.65% APY10-year - 5.89% Rate / 6.05% APYAccount can be opened online at keydirect.com. The above rates and yields are for deposits of $50,000 and more, tiered rates for deposits less than $50,000 [...]

State Bank of India’s CD Rates

State Bank of India has popped back onto the radar with an increase in CD rates for all terms from 1 month to 5 years or longer. The Indian bank, which has a FDIC-insured U.S.-based division, has U.S. operations in New York, Chicago, Los Angeles, and Washington DC. FDIC-insurance is applicable to accounts set-up online [...]

10.00% APY from Bridgeview Bank on 90-day CD

Bridgeview Bank (FDIC#2122) in Illinois is offering a 10.00% APY on a 90-day CD for customers who open a new checking account with direct deposit and/or auto-debit. The 10.00% APY only applies for balances between $2,500 and $25,000.

Apply online here.

Weekly List of Highest Rates and Yields on Online Bank Deals

The Savings Investor will post weekly a list of some of the highest yields available on FDIC-insured deposits. Restrictions and limitations (including geographical location) may apply so read through each bank’s web site carefully before opening an account.
Rate specials this week include:
10.00% APY from Affinity Bank on their savings account for kids only (applies to [...]

Heritage Bank Offering Personal and Commercial CDs at 5.35% APY

Heritage Bank (FDIC# 58416) located in Phoenix, Arizona is under one year old with 5-branches and a little more than $150 million in assets. The banks is offering top-tier CD rates on both personal and commercial accounts with a full-service online banking platform.

CD RATES - September 4, 2007:
Minimum deposit $10,000
30 - 89 Day CD: 5.25% [...]

IndyMac Bank Raises Deposit Rates Again

IndyMac Bank (FDIC# 29730) increased deposit rate again with both their 5-month and 6-month CD terms now yielding 5.70% with a simple interest rate of 5.55%. Minimum deposit is $5,00 and accounts must be opened online.
IndyMac Bank is the nation’s 2nd largest independent mortgage broker and is facing well-publicized difficulties with their mortgage portfolio. But [...]

UniBank 90-day CD 5.65% APY

UniBank is a new bank (chartered in November 2006) based out of the Pacific Northwest which has jumped into the national market with the following CD rates:
3 Months Fixed CD - 5.51% rate 5.65% APY
6 Months Fixed CD - 5.22% rate 5.35% APY
12 Months Fixed CD - 5.22% rate 5.35% APY
18 Months Fixed CD [...]