Bank of America’s CD Rates in 2012

So far in 2012, Bank of America’s FDIC-insured savings accounts and certificates of deposit are pretty much on par with the nation’s other largest banks – quite terrible. The highest yielding CD offered from Bank of America is currently their “10 year CD” which is yielding just 2.30% annually.

If you must invest in one of Bank of America’s savings products we would recommend looking through their “promotional offers.” The rates Read more…

Chase Bank’s Deposit Rates in 2012 (Updated)

Chase Bank’s CD rates in 2012 are providing even lower yields than they were last year around this time. In fact, to garner returns of over 1 percent on a deposit with Chase Bank you’ll need to lock away your money for an entire decade!

In many respects this is to be excepted as the national average for CD rates has lowered slightly since the Spring of last year when we last covered Read more…

Metlife Bank Deposits Being Sold to GE Captial

One of the most weel known insurance companies, MetLife, has announced they are selling off their deposit business to GE Capital (General Electric’s banking arm) this year. The transaction is supposed to take place in Q2 2012, however, if you’ve already opened a deposit with MetLife Bank your deposit and interest rate will live on even after MetLife goes. Their popular money market account and online savings account – featuring interest rates Read more…

Attractive Rates Offered Through Foreign Currency CDs in 2012

It’s tough out there for income investors looking for bank deposits with attractive rates – at least domestically.

2012, however, may turn out to be quite a rewarding year for foreign currency CD holders. Although these products certainly dont come without risk, they pose as an enticing investment vehicle for a more risk-seeking consumer willing to perform the required due diligence.

With US bank deposits yielding less than the current rate of Read more…

Where do CitiBank’s CD Rates Stand in 2012?

CitiBank’s deposit rates fell rather sharply over the last year despite already being at all time lows in 2011.

So far in 2012, the APY’s paid on Citi’s most popular savings products have lagged the national average by heavy margins. In fact, their most lucrative rate today sits at just 1.0% and comes with a 5 year term. To put this in perspective, the national average for 5 year CDs sits at Read more…