Incredible Bank, an online division of River Valley Bank in Wisconsin, is offering an “INCREDIBLE CD” that is only available online. As of the 28th of May this 12 month CD comes with any APY of 2.00%. To put this offer in perspective, the current national average for 1 year CDs sits at roughly 1.15% APY. Their are a few catches with this product that you must take into account before opening – first, you accumulate your interest in a somewhat awkward fashion. For example, with their 12 month CD, you will incur an interest rate of just 1.75% APY on your first 6 months, then the second 6 months of the 1 year term yields 2.25% APY …averaging out to 2.0% APY for the life of the deposit. Second, they require a rather steep minimum deposit of $10,000 and you will need to make this deposit online through Automated Clearing House Network.

This offer is available to consumers across and is federally insured by the FDIC.

Details, Terms and Conditions associated with Incredible Bank’s “Incredible CD”:

• Annual percentage yield offered as of 05/28/2010 for this 12 month-IncredibleBank certificate of deposit.
• APY may change at any time without prior notice.
• First six months earns 1.75% APY. Second six months earns 2.25% APY.
• $10,000 minimum deposit to open the CD. $10,000 minimum balance to earn the stated APY.
• Maximum of $225,000 allowed to be invested in one or more IncredibleBank certificates of deposit.
• Alternative terms not allowed.
• Fees may reduce earnings.
• Penalty for early withdrawal.
• Additional restrictions apply.

They also have a high interest checking account available online as well. Here are the features of that account:

• $0-$250,001 earns 1.53% APY. Above $250,001 earns 1.00% APY.
• Rate offered as of 5/3/10.
• $1,000 minimum deposit to open the account.
• Fees may reduce earnings.
• Rate subject to change without notice.

Related Posts

• Whose offering 2.0% APY CD Rates?
• 2.50% APY CD Rates – You’ll have to go long
• 2.0% APY Bank CD Rates – How long do you need to invest?
• Cascade Bank’s CD Rates and Promotional Offers
• Top 12 month CD rates in New York smash national average!
• Fifth Third Bank CD Rate “Promos”
• Best 12 month CD rates in New Jersey beat nat’l avg. by 50%
• Top 12 month CD rates in Texas CRUSH the national average!
• Best 12 month CD rates in Florida demolish national average
• 12 month CD Rate Promotion – Earn twice the national average!