Savings account with highest interest rate found at Regal Financial Bank
Much thanks to BankVibe reader Trevor for tipping us off on one of the best savings account rates we’ve seen so far this month. It comes from Regal Finanacial Bank of Seattle, Washington. It carries an interest rate of 2.96% or 3.00% APY. So yes, the 3.0% APY savings rate still exists!
A few weeks back we noted Regal Financial Bank. At that time they were offering an astounding 12 month CD rate of 4.0% APY for a VERY limited time. Also keep in mind that a couple of strings came attached to that CD rate. The most notebale string being the fact that you needed to open another checking/savings account with them in order to qualify for the 12 month CD special. However, with this current high yield savings offer, I believe no additional hoops are required to jump through. You may want to double check and contact a bank rep though becuase their last 12 month CD promo didn’t have the additional requirements listed on their website.
High Yield Savings Account details:
- to earn the advertised 3.0% APY you must maintain a balance betwee $2,500 – $250,000 (easy enough)
- Rates are subject to change after account is opened (aka this is a variable interest rate)
- Rates updated March 15, 2009 – typically banks adjust interest rates on a monthly basis to conincide with current ecnomic trends, therefor this rate may be on the verge of an adjustment
April 7th, 2009 at 10:03 am
Well, that might be good for someone that can keep a balance of $2,500 or more, but for the rest of Americans that can’t take a look at smartypig.com with a savings rate of 3.05% and the min of only $1. Yes, thats right one dollar ($1).
April 9th, 2009 at 8:32 pm
Last I checked, First Trade Union Bank offered 3.04% APY on their High & Mighty Savings account, and Redneck Bank is still at 3.10 for their Mega MMA account. Very few left these days offering over 3:00% until they decide to seek liquidity by enticing investors. Lots of people laddering out there, including my family. When assets mature and become available for reinvestment, only higher short-term rates seem to make sense in today’s climate.
April 10th, 2009 at 5:16 pm
Farmer Frank,
You’re right, 3.0% APY is tough to find ANYWHERE these days! Especially when looking for maturities under 2 years. The high and mighty savings account from First Trade Bank actually adjusted their rate again to 2.74% APY down from 3.20% a month ago…