Here is a decent deal coming from 1st Constitution Bank’s internet branch. Currently they have a high yield online savings account that is yielding an APY of 2.50% for the first 3 months (then a still lucrative 2.25% APY after the promo period).

Keep in mind that you must maintain a balance of at least $10k to earn this advertised rate. If your balance falls below $10k you will still earn a respectable 1.60% APY. To open this account all you need is $100.

1st Constitution Direct operates a relatively low-tech/low-content website, however they are FDIC insured therefor your deposits are federally insured up to $250k.

This is a variable rate and is subject to change without notice. Also, according to their website this rate went into affect back in December, so it may be overdue for a drop.

1st Constitution Direct is a division of 1st Constitution Bank, a NJ based bank founded in 1989. 1st Constitution Direct was established in 2008 to support clients who prefer to bank from their computer rather than traveling to a branch. 1st Constitution Direct clients have access to Telephone Service Consultants who are available to answer questions and address client issues. They claim that banking online through their “direct branch” eliminates most overhead costs so that they can return the savings to you (the customer) in the form of higher interest rates.

To talk to a rep. call: (866) 934-4178

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