Ally Bank offers an unadvertised bonus of 0.25% APY for customers who renew their Certificate of Deposits, or CDs. As of writing this, many have reported that when their CD with Ally is close to the end of its term, Ally offers them a 0.25% APY bonus rate on top of the current rate for the CD. A quick chat with Ally’s customer support verified that all CD terms - even the 3 month CD qualifies for the bonus. Those loyal Ally Bank customers who have been offered this … [Read more...]
4 Year CD Offering 2.55% APY
While most CDs have terms of 1, 2, 3, and 5 years; iGObanking offers a more unusual 4 year CD. Keep a close eye on iGObanking’s CD promotions as they offer very competitive rates but move quickly because the time frame to lock the rate is often short-lived. Their latest promotion is a 48 month CD that pays 2.55% APY. According to RateCatcher's CD rates chart, this is a better rate than other banks like Stonebridge Bank are paying on a 5 year CD. You can view more details at … [Read more...]
Why Are Money Market Accounts Becoming More Popular than CDs?
A recent study by Market Rates Insight (San Anselmo, California) showed an increase in bank customers choosing money market accounts over CDs. Here is a quick summary of the study for the second half of 2010: Deposits in money market accounts rose by 2.6% or $138 billion Time Deposits (CDs) dropped by a whopping 8.5% or $200 billion Savings Accounts increased by $76 billion Checking account deposits moved up by $43 billion So why are people moving their savings from CDs to money … [Read more...]
Suntrust Bank Promotions: Savings, MMA, and CD
You can check SunTrust's rates by visiting their compare products page. The highest rate they currently offer excluding promotions is a measley 0.50% APY with an astonishing minimum balance of $250k. Here are their current promotions (you must check your local branch to make sure the promotion is offered in your area. SunTrust operates in these states: Alabama, Arkansas, Florida, Georgia, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, West Virginia, Washington … [Read more...]
How to Earn 5 – 13 Times the Average Savings Rate with Zero Risk
If you are looking for ways to earn more interest with less risk,this strategy might interest you. If your only option was to earn interest at the national savings rate of .23%, you'd be better off putting your money under your mattress - at least you wouldn't waste gas or time driving to the bank to make a deposit. Luckily there are some clever ways to earn 1300% more than the national average. Click here for a list of savings banks that beat the national … [Read more...]
