Moneywise on January 3rd, 2010
Who is offering the best bank offers on interest rates? Well, by and large as we enter 2010, we’re seeing competitive interest rates for savings accounts at around 1.5%, with most below 1%. Incredible Bank, an online bank, is now offering over 2% on its checking accounts, but it’s unlikely that this will last. Maybe just long enough to get you to switch your bank account (not worth it).
Shore Bank seems to be intent on keeping its reign as the best paying savings account that I could find. This in spite of the fact it dropped its interest rate significantly to 1.70%.
Moneywise on July 3rd, 2008
OnBank is currently offering a fantastic deal on its certificate of deposit or CD accounts. The 60-month CD is available at 5.15%. Obviously, OnBank is expecting a pretty good increase in interest rates over the next 5 years. In any event, this is one of the better CD deals out there. Generally, I groan at the thought of putting money into CDs, but given the stock market tumult, uncertainty in the municipal bond market, and general economic woes, this may not be a bad option for someone who wants to stow away some money securely. The bank also offers 3.5% on Money Market savings accounts.
Moneywise on June 17th, 2008
Taking a look at current money market accounts, it seems as if EverBank is offering the highest interest rate with 4%, but this is where people get tripped up. EverBank’s offer is 4% on its MMAs for the introductory period, but then only 2% on accounts below $10,000 after that. Looking for the best money market rates it seems as if the IndyMac at 3.85% is the best for accounts over $10,000, with Corus Bank offering a 3.82% rate for the $10,000 deposit as well. There is a savings account available at OneUnited Bank for 3.6% with a minimum deposit of $1,000 and the HSBC that we discussed yesterday that is 3.5% with no minimum.
