MoneyRates Blog
The Ten Best Online Bank Deals
By MoneyRates team | Money-Rates Columnist
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 [...]
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Bank Deals from Online Banks including Free Cash, Airline Miles, and iPods
By MoneyRates team | Money-Rates Columnist
Banks are offering a variety of rewards for opening new checking or savings accounts. The latest deals include:
Community Bank of DuPage is giving away a free Portable DVD Player when you open a free checking account with direct deposit. Offer expires 3/22/2009. Minimum opening deposit and minimum recurring direct deposit $100.
HSBC Bank is offering a [...]
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National City Bank’s Online Bill Payment Sweepstakes
By MoneyRates team | Money-Rates Columnist
PNC Bank tapped into available government-bailout dollars to purchase National City Bank in a multi-billion dollar deal a few weeks ago. While the deal passes through the requisite regulatory hurdles, National City Bank continues to offer online bank deals including the promotional giveaway of a Chevrolet Malibu Hybrid in an online banking sweepstakes that is [...]
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Rate Deals from Dime Savings Bank
By MoneyRates team | Money-Rates Columnist
Dimedirect.com is the online subsidiary of Dime Savings Bank, which is a large bank located in the state of New York. Dimedirect is offering the following new promotional rate deals for accounts opened online:
*** 3.00% APY on the Prime Dime Checking account for balances between $50,000 and $150,000*** 3.25% APY on the Rewards Passbook Money [...]
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Banks and Credit Unions Paying Higher Interest Rates
By MoneyRates team | Money-Rates Columnist
CD Rates, Money Market Rates, Savings Rates, and Checking Rates have all increased this week with 4%, 5%, and even 6% rates available from FDIC-insured banks. Unique rate deals this week include:
10.00% APY from Shore Bank on their Grand Slam checking account for balances from $.01 to $1,000. Must live in eligible county in Maryland [...]
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New Online Bank Deals: iPods, Airlines Miles, Cash and more
By MoneyRates team | Money-Rates Columnist
Banks are in a giving mood. Listed below are some of the latest deals from online banks:
BankDirect is offering BankDirect Mileage Checking, BankDirect Mileage Money Market Accounts, and Mileage CDs which reward customers who bank with BankDirect with potentially thousands of frequent flier miles through American Airlines’ AAdvantage program.
Compass Bank is giving away a free [...]
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$150 Cash Offer from Pennsylvania Bank
By MoneyRates team | Money-Rates Columnist
Sovereign Bank is a large bank based in the Northeast that is active in online banking promotions. The latest deal from Sovereign is a $150 cash offer for opening a Premier Checking account with at least $100 and requesting a VISA Checkcard and maintaining at least a combinde $15,000 balance in checking, savings, money market, [...]
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Doing the Math with Wachovia Bank’s Way2Save Program
By MoneyRates team | Money-Rates Columnist
Wachovia Bank is offering the Way2Save Programs as as savings incentive-rich program to attract savings customers. The program links your Wachovia Bank checking account to a Way2Save account and rewards the account with:
$1 for each check card purchase and online bill payment5% annual percentage yield on the balance5% bonus in Year 1 for amount transferred [...]
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The Federal Reserve and Online Bank Rates
By MoneyRates team | Money-Rates Columnist
The Federal Reserve delivered a 75-point rate cut yesterday reducing the federal funds rate to 2.25%. Banks have lowered their own prime rates down to 5.25% marking the lowest level of the prime rate since 2004. Similar to how January and February saw the slow demise of 5.00% online bank deposit rates, the remainder of [...]
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Last Minute Online Bank Deals before Fed Strikes with Rate Cut
By MoneyRates team | Money-Rates Columnist
The Fed is due to announce a rate cut in a matter of hours which is likely to lead to banks slashing their own deposit rates in the next few weeks. Online bank rate specials still available today include:
EverBank is offering checking accounts and money market accounts with an introductory APY of 4.51%. The average [...]
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Online Bank Deals and Reward Programs
By MoneyRates team | Money-Rates Columnist
The days of banks paying below 1.00% on a checking account and are back in force as The Savings Investor found out when polling 100 banks nationwide and finding an average of just 0.88% as the annual percentage yield paid out on a basic low-minimum checking account. However, online banking customers who are willing to [...]
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Online Bank and Credit Union Rate Deals
By MoneyRates team | Money-Rates Columnist
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 [...]
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The Fed and Online Bank Rates and Deals
By MoneyRates team | Money-Rates Columnist
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 [...]
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3 Ideas for Savings Investors - Series I Bonds, Municipal Bonds, Online Bank Rate Deals
By MoneyRates team | Money-Rates Columnist
The stock market has had a rough start in 2008 with the Dow Jones Industrial Average down 10% for the year with more trouble anticipated. The volatility of the markets has launched a continued flight-to-quality into safer investments just at a time when the rates and yields on those investments are dropping in line with [...]
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Money-Rates.com Posting Bank Deposit Rates over 5.50% APY
By MoneyRates team | Money-Rates Columnist
Look’s like at least a few banks still need a little spending at the end-of-the-year. Despite a Federal Funds Rate at 4.25% and falling the following rate specials are listed at money-rates.com:
5.75% APY at KeyDirect on a 10-year CD with a minimum deposit of $50,0005.51% APY at EverBank as an introductory APY on their money [...]
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Banks with Special Offers on Savings, Money Markets, Checking, and CDs
By MoneyRates team | Money-Rates Columnist
As the end of 2007 approaches the menu for online bank deals remains as attractive as ever. In fact, there is a little something for everyone as more and more specialty banks emerge. FDIC-insured banks like Banco Fortuna (spanish site offering 5.05% APY on savings account) and Bank of Internet (special rates for senior citizens) [...]
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Online Bank Deals Just Got More Attractive (compared to US Treasuries)
By MoneyRates team | Money-Rates Columnist
On the face of it a rate cut by the Federal Reserve along with signals that the Fed will cut some more in 2008 would appear to be devastating news to investors accustomed to finding great rates from online banks. However, there appears to be enough competition and thirst for deposits by online banks to [...]
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Online Bank Deals
By MoneyRates team | Money-Rates Columnist
November has been a month of widespread lowering of rates by banks and lenders on their loan and deposit products. A quick summary of where some of the best online bank deals can be found:
Savings Accounts - UFB Direct 5.31%, complete list
Rewards Checking Accounts - 6.01% on balances up to $25,000 from numerous banks on [...]
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Online Bank Deals - November 8, 2007
By MoneyRates team | Money-Rates Columnist
LaSalle Bank is offering a $100 bonus to customer who open both a checking account and a savings account and use a new LaSalle Money Card debit card.
Wells Fargo Bank is offering a $50 bonus to new customer who open a free checking account with a minimum deposit of $100. No direct deposit requirement or [...]
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Fed Meeting and Interest Rates
By MoneyRates team | Money-Rates Columnist
Borrowers are eagerly anticipating another rate cut from the Fed which will have a nearly immediate impact on their home equity loan payments and credit card payments. While short term interest rates on average have fallen in 2007, some remarkable online bank deals still exist. Money market rates from Evergreen Private Bank (5.40% APY, 25K [...]
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