Strength of FDIC Fund Could Affect Bank Rates and Security

It has been widely reported that the FDIC’s deposit insurance fund has been rapidly declining, raising concerns that it might require special funding soon to support the growing number of banks classified as troubled. In response, the FDIC has publicly clarified its accounting to show that the fund is not actually declining nearly as rapidly [...]

Obama and Interest Rates

President Obama reached his 100th day in office this week with huge questions lingering regarding the effectiveness of his policies and strategies. While it may take years or decades to objectively evaluate the Obama Administration’s response to the financial Pearl Harbor he has faced, at least for this milestone week Obama enthusiasts point to the positive. [...]

Where are the Banks Offering Inflation-Linked Deposits?

If you do a search for banks offering rates which are indexed to the S&P 500, Dow Jones Industrial Average, or yields on U.S. Treasuries you can find various money market and CD products. Missing from the list of variable-rate offerings is anything tied to inflation. There are inflation-linked securities available, but surprisingly there are [...]

North Carolina Bank is a True Online Bank

NewDominion Bank is an example of a true online bank - no branches and no branch overhead to pass on to customers. Countless banks claim to be an online bank, but are actually just divisions of large multi-branch and multi-state banks. These banks have the high costs associated with their branch operations that an online [...]

The Bank Rates They Are A-Changin’

The Fed has walloped the United States with massive rates cuts of 125 points in a 10-day span on the realization that the U.S. economy is in a recession. The Fed noted the slowdown in the housing market and labor market as contributing to the economic malaise. The prime rate, which banks use as their [...]

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.

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 [...]

National Bank of Kansas City 5.50% APY on all CD terms

National Bank of Kansas City (FDIC# 35014) has increased their certificate of deposit rates to 5.35% with an annual percentage yield (APY) of 5.50% on all terms from 90 days to 5 years. In addition, if you open an IRA account at this bank you can receive the 5.35% rate and 5.50% APY for all [...]

IndyMac Bank Increases Deposit Rates

IndyMac Bank (FDIC# 29730) has increased their rates this week on specific deposit products. The most attractive rates include:
5-month CD - 5.41% rate, 5.55% APY, $5,000 minimum9-month CD - 5.21% rate, 5.35% APY, $5,000 minimum1-year CD - 5.41% rate, 5.55% APY, $5,000 minimumInternet First Money Market - 5.60% rate, 5.75% APY, $5,000 minimum

Terms for CD [...]