12 month CD Rate Promotion - Earn twice the national average!
A phenomenal 12 month CD rate promotion was forwarded to us this week by BankVibe.com reader Justin. It comes from Navy Federal Credit Union, based out of Virginia. As of last month they are offering their members 12 month “Easy Start” IRA CDs (certificate of deposits) yielding a whopping 3.25% APY! The current national average for 1 year CD rates sits at roughly 1.20% APY (to put this offer in perspective).
There is somewhat of a catch, however, that comes with this promotional CD. First, before investing in any of Navy Federal Credit Union’s CD’s you must be a member of their institution. Although NFCU is one of the largest credit unions in the country (both by asset size and membership), they still have fairly strict eligibility requirements. To learn more about eligibility, visit their website @ www.navyfcu.org. Second, their 12 month CD promotion is only available to deposits ranging from $50 (min) to $3,000 (max), you must have a NFCU checking account to supplement this account AND it’s only available to those starting an IRA.
12 month CD Promotion Terms and Conditions:
- This offer is effective February 1, 2010, Navy Federal reserves the right to end or modify this offer at anytime.
- $3,000 maximum balance.
- Only one Special IRA EasyStart Certificate per member is allowed.
- Certificate owner(s) age 18 and older must have Direct Deposit of Net Pay (minimum $300 per direct deposit), a Navy Federal checking account, and a monthly automatic deposit of at least $15 within 90 days of the certificate issue date.
- If these requirements are not met your Special IRA EasyStart Certificate dividend rate will be reduced to the prevailing dividend rate of a standard IRA EasyStart Certificate for the remainder of the certificate’s term.
- At maturity the Special IRA EasyStart Certificate will automatically renew to a $100 minimum, standard IRA EasyStart Certificate at the prevailing dividend rate unless member specifies otherwise.
15 month CD rate (certificate of deposit) promotion!
Thanks to BankVibe.com reader Stacey for forwarding us this 15 month CD special being offered through Aspire Federal Credit Union. Currently with a minimum deposit of at least $1,000 you can open a 15 month certificate yielding 1.51% APY. To put this offer in perspective the national average for 12 month CD rates sits at just 1.20% APY with the highest 12 month CD rates paying 1.75% APY.
Aspire Federal Credit Union, originally known as FAA Eastern Region Federal Credit Union, was originally founded in 1948 to serve a small group of Civil Aeronautics Administration employees (currently the Federal Aviation Administration).
In the beginning Aspire had just had seven people who pooled together shares of $5.00 each to initiate the original charter. Today, Aspire FCU is a $175 million dollar credit union, serving approximately 20,000 members within many diverse employee groups throughout the northeastern United States. Aspire FCU is a not-for-profit financial cooperative, which means all earnings at the end of the year are returned to our members in the form of better, low-cost financial services.
Unfortunately for most of us, this offer may be off the table. You must first become a member of Aspire Federal Credit Union to take advantage of the 15 month CD promotion. If you live in the northeast, mainly New Hampshire, New Jersey, New York or Virginia you will most likely be able to join. For the rest of us, unless you have family members in those regions or work for a select group of employers, you probably will not be eligible.
15 month CD rate promotion (details and features):
- minimum deposit of $1,000 required
- no maintenance fees
- fees may apply for early withdrawal
- NCUA insured up to $250,000
Capital One Venture Rewards Credit Card Review
The following is a press release that was sent in to us by Capital One Bank highlighting their new Venture Rewards Credit Card:
Capital One Financial Corporation (NYSE: COF) today announced the launch of Venture (www.capitaloneventure.com), a premium travel rewards credit card offering double miles on every purchase, without the restrictions frequently found in rewards programs.
There are no limits on when, where or how you earn double miles, no retailer specifications or spending categories, no separate rewards enrollment or re-enrollment requirements, and no limit on the number of miles cardholders can accumulate. Plus, cardholders enjoy easy redemption by booking on any airline at any time, with no blackout dates, no advance booking required, and no expiration.
Rewards can be redeemed for any travel related expense, such as airline, hotel, cruise line and rental car transactions. And of course, as with all other Capital One cards, there are no foreign transaction fees. “Not only does Venture allow consumers to earn miles twice as fast, it also addresses key consumer pain points associated with earning and redeeming rewards,” said Pam Girardo, spokesperson at Capital One. “Consumers are tired of restrictions that limit how they earn their miles and frustrated with redemption roadblocks like blackout dates and expiration’s that make it challenging for them to take advantage of the rewards they’ve earned.”
Features of the Venture Rewards Credit Card:
- Earn 2 miles per dollar on all net purchases, every day
- Rewards don’t expire; no limit on how many miles you can accumulate; no special spending categories; no separate rewards enrollment requirements
- No foreign transaction fees
- Get 10,000 bonus miles when you spend $1,000 in the first three months
- Fly free on any airline, any time, with no blackout dates
- Redeem for any travel purchase (air fare, hotel room, rental car, etc.)
- Simple redemption schedule: multiply the travel purchase by 100 (simply add two zeros to the cost) and trade in that number of miles to pay for it
- Exclusive customer service
- Access to benefits, including preferred access to popular entertainment, sporting and dining events and special offers from leading hotels and retailers
Best “interest checking” account in Connecticut paying 4.10%
In February of last year we touted First New England Federal Credit Union’s interest checking account as one of the highest yielding on the market. And today, while not the highest, it remains near the top. In February of 2009 this account was providing yields of 5.15% APY on balances up to $25,000. Today this account still provides a whopping yield of 4.10% APY, however limits balances to $15,000 (any balance exceeding that amount will only garner 0.50% APY). When taking into consideration the nose dive many interest checking account rates took over the last year, this account looks pretty rewarding. The top long-term CD rates in Connecticut aren’t even paying out these rates.
Features of Rewards Checking Account from FNFCU:
- 4.10% APY - This is a variable rate and is subject to change without notice.
- ATM Refunds - $25 in ATM refunds per cycle IF requirements are met.
- No fees or minimum balance requirements.
- make 12 clearing debit card transactions per month. This does not include cash withdrawals.
- Set up one direct deposit or ACH auto debit to your high interest checking account.
- Enroll in e-services with your rewards checking account.
Discover Bank’s CD Rates and Money Market Account
Discover Bank, originally known as Greenwood Trust Company before joining Discover Financial Services in 2000, offers FDIC insured bank CDs (certificates of deposit) as well as money market accounts and high yield online savings accounts. By consistently offering interest rates that beat the national average they have grown to manage over $25 billion in consumer deposits.
Discover Bank’s Popular Products:
Discover Bank’s 12-month CDs : This is a 12 month timed deposit. You will earn a fixed interest rate and your money is FDIC insured. You will want to make sure you can keep your money in this account until the duration is over. There may be penalties for early withdrawal.
Discover Bank CDs 24-month CDs: This is a 24 month timed deposit. You will earn a fixed interest rate and your money is FDIC insured. You will want to make sure you can keep your money in this account until the duration is over. There may be penalties for early withdrawal.
Discover Bank Money Market: This is a liquid account. You will earn a variable interest rate and your money is FDIC insured. You can make fast and free online money transfers and you can access your account from anywhere (online, ATMs, w/ Discover debit card, etc).
Best 12 month CD rates topping 1.75% APY
After another abysmal month for bank CD rates, we tracked down a couple decent (decent being a relative term) rates offered on 12 month bank CDs. The national average for this particular product currently sits at a historically pathetic 1.26% APY - down from 1.30% APY at just the beginning of March. However, if you look hard enough you can still find FDIC or NCUA insured banking institutions offering above 1.70% APY on 1 year certificate of deposits.
For our readers in the west, Alaska USA Federal Credit Union’s CD rates are beating the national average by a pretty substantial margin. Their 12 month CD rate hovers around 1.75% APY with a minimum deposit of $500 required. Alaska USA Federal Credit Union is the 13th largest credit union in the country in terms of membership (roughly 350,000 members) and 17th largest in terms of assets (roughly $3.8 billion). They have branches throughout Alaska, the Puget Sound area of Washington State, and California’s Victor Valley.
For consumers whom don’t reside in those areas, Tennessee Commerce Bank’s CD rates are topping the chart for banking institutions whom can accept deposits from customers in every state. Their 12 month CD is currently providing an annual interest rate of 1.70% APY with a minimum deposit of $2,500 required.
If your local bank or credit union is offering higher rates on their 12 month CD’s, please share by leaving a comment!
Harris Bank’s Interest Checking Account Bonus: $150
Harris Bank, serving most of the Midwest, currently has a checking account bonus offer of $150 for those who sign up for a new “interest checking account.” Although we believe it’s slightly misleading for them to call this checking account an “interest checking account” considering the fact that the interest rate is less than 0.05% APY, they are still offering a very enticing $150 bonus for signing up (and completing a few steps).
Thanks to BankVibe.com reader Jennifer for submitting this offer!
This is yet another checking account bonus we’ve seen after reporting on over a half dozen last month! You can compare this offer to the other checking account promotions we’ve covered recently to ensure you’re finding an optimal account for your needs.
Details of Interest Checking Account Bonus by Harris Bank:
- Open an interest checking account with a minimum opening deposit of $100.
- Setup a monthly direct deposit within 90 days of account opening or make at least five online bill payment transactions within 60 days of account opening.
- Open a Harris Savings Account and activate the AutoSave feature.
Additional Details regarding Bonus Collection:
- $100 cash will be deposited into your new Harris personal Interest-Checking Account approximately 120 days after account opening
- $50 will be deposited into your savings account after Auto Save feature is activated
- No maintenance or transaction fees for account holders with a combined total of $20,000 or more in any qualifying Harris deposit accounts
Learn more by visiting their promo page.
The Mango Prepaid Mastercard Review
With decent credit cards being harder to obtain these days (especially for those with shaky credit) the prepaid debit card alternative is becoming more and more popular. And if the prepaid option has the ability to assist in the rebuilding of credit, then it’s even better! One of the more popular options among consumers is the Mango Prepaid MasterCard.
The most notable benefits of this card are…
1) It is accepted wherever MasterCard is accepted.
2) You will not incur any credit checks, overdraft fees or activation fees that other prepaid options have.
3) You can manage your account online and/or with your mobile phone.
If you’re looking for a credit card rather than a prepaid debit card, you can compare credit card offers at CreditCardOutLaw.com.
The Mango Prepaid MasterCard - Complete List of Features:
- FREE Prepaid MasterCard
- $0 Activation Fee
- FREE Direct Deposit
- FREE unlimited purchase / signature transactions
- FREE account management online or with your mobile phone
- FREE to check your balance with your mobile phone
- No monthly fee when you load $500/month
- Send money with your mobile phone
- Load cash at tens of thousands of retailers nationwide
- No credit check, no bank account needed, no overdraft fees
FNBO Direct’s Online Savings Account’s Features and Rate
As anyone in the market for an online savings account will tell you, the current interest rates being provided by these FDIC insured accounts are terrible. The national average for online savings accounts sits below 1.0% and some analysts suggest this “interest rate slump” may be here for a longer period of time than what was originally predicted (and hoped for). That is why we found it necessary to cover one of the better offers on the market for not only interest rates but account features, flexibility and functionality.
FNBO Direct has been at the top of their class for years due to their consistently high interest rates (their online savings account is currently providing 1.25% APY, 0.30% APY higher than the national average), their easy-to-use interface, and simple money transfer capabilities. Learn More.
FNBO Direct’s online savings account comes with no minimum balance (open an account for as little as $1.00), allows access to your money at anytime (no penalty for withdrawals), comes with superior online security and extremely easy transfer options for sending money in and out of your account.
Features of FNBO Direct’s Online Savings Account:
- Earn 5X more on your savings
- FNBO Direct offers you a great rate and the ease of online banking
- No balance minimums – No fees
- Manage your account securely online
- Deposits insured by the FDIC up to $250,000
- Send mobile and email payments directly from your FNBO Direct accounts.
- Received money? Deposit it into your FNBO Direct accounts.
- Free yourself from the hassle of check writing and bank visits.
SallieMae: CD rates and savings account review
SallieMae, traditionally a provider of student loans both federally and privately, has entered the online banking retail space by offering both “high yield savings accounts” and high interest CD’s (certificate of deposits). These accounts are federally insured by the FDIC and SallieMae claims the rates to be 5x the national average.
Apply Here! - for SallieMae Online Savings Account
Their online savings account comes with no monthly fees and no minimum balances, similar to other online banking products such as Ally Bank’s online savings account and American Express’s high interest savings account.
Features of Online Savings Account by SallieMae:
- No minimum balance required
- No monthly fees
- Interest compounded daily
- FDIC insured
- 1.35% APY
- 10% annual match on Upromise earnings. Learn More.
Features of CD accounts (Certifate of Deposits) by SallieMae:
- No monthly fees
- FDIC insured
- minimum deposit not disclosed - contact SallieMae for this information
- 12 month CD’s paying 1.50% APY
- 36 month CD’s paying 2.20% APY
- 60 month CD’s paying 3.00% APY
SallieMae’s interest rates are subject to change without notice. Like most CD’s, the interest paid is fixed for the life of the product. The interest paid on the online savings account, however, is variable and subject to change based on market conditions. View SallieMae’s current savings rates here.
