Best Black Friday Bank Deals for 2011

A number of new checking account promotions have come out towards the end of 2011, however any avid bank deal hunter knows that Black Friday in particular is a prime time to scoop up substantial deals from banks and credit unions.

This year’s number one institution with the best Black Friday rewards comes from Service Credit Union out of New Hampshire. So for all you New Hampshire residents – have at it!

As for everyone else, scroll down to find the best nationwide bank deals available this Black Friday.

Service Credit Union’s Black Friday Bank Deals:

1) 3 month CD yielding 10% APY! – Here is a phenomenal savings account promotion especially for first time savers or students. It comes with a minimum deposit requirement of $250 and a maximum deposit of $1000. If you’re able to maximize the benefits of this offer by depositing $1k into this account, you’ll have earned almost $25 in just 3 months from your investment!

2) Open a Savings Plus Checking Account with Service Credit Union and set up a direct deposit and get a $150 bonus! This could end up being quite the lure for those looking to switch from big banks. The end of 2011 has been huge for credit unions with the threat of new checking account fees by some of the nation’s largest banks.

3) 1% off auto loans with Service Credit Union. Rates as low as 2.24% APR depending on credit history.

4) $25 new gift card with each new visa credit card opened with SCU.

Bank Deals (2011) Available Nationwide:

1) CitiBank Checking Accounts paying new account holders either $200 or $400 in gift cards depending on which checking account you sign up for.

2) ING Direct has a $50 sign up bonus for new online checking account holders. ING is well known for being a Black Friday specialist! With this checking account, you’ll get a very respectable interest rate on your balance, the largest network of free ATM’s, zero fees, and a cool 50 bucks!

3) EverBank has a $60 sign up bonus for new account holders, but you’ll need to maintain a minimum balance of $5,000 with this account to avoid fees. There is also an interest rate associated with this account. Get the run down here.

TD Bank CD Rates and Review

TD Bank offers a unique set of CD (certificate of deposit) products for both consumers and businesses. What sets their deposit product offerings apart from other credit unions and banks is that they offer “Step Up” CD’s which basically come with incrementally increasing interest rates as your deposit gets closer to maturity. Below are the going rates for these CD’s. As a side note their personal CD’s are currently yielding slightly lower rates than the national average for CD rates.

About TD Bank:

TD Bank claims to be America’s most convenient bank (so much so that they’ve actually trademarked the term “America’s most convenient bank”). They are one of the 15 largest banks in the United States with $160 billion in assets, and provides customers with a full range of financial products and services at more than 1,100 retail stores throughout the Northeast, Mid-Atlantic, Metro D.C. and Florida.

Company History:

The company first opened its doors as Portland Savings Bank in Portland, Maine, in 1852, and later grew through a series of mergers and became Peoples Heritage Bank in 1983. At the turn of the millennium, the opportunity for growth presented itself again as Peoples Heritage Bank, through several acquisitions, expanded deeper into New England and took the name Banknorth.

Meanwhile, Cherry Hill, New Jersey-based Commerce Bank was turning Customers into Fans as America’s Most Convenient Bank. Founded in 1973, Commerce Bank expanded rapidly over the next 30 years into metro New York and Philadelphia, Washington D.C., and South Florida, winning new Customers with WOW! service and convenience.

In 2004, Banknorth caught the eye of TD Bank Financial Group of Toronto, Canada, a top 10 financial services company in North America. TD Bank Financial Group soon became Banknorth’s majority shareholder and the company became known as TD Banknorth. TD Bank Financial Group completed its purchase of TD Banknorth in 2007.

Looking to expand further in the U.S., TD Bank Financial Group acquired Commerce Bank on March 31, 2008, and the company rebranded as TD Bank, America’s Most Convenient Bank. TD Banknorth locations followed suit in September 2009, completing the merger of the two companies and uniting them under the TD Bank brand name.

Today, TD Bank, America’s Most Convenient Bank, remains focused on delivering award-winning Customer service and hassle-free products to Customers from Maine to Florida.

Current CD Rates offered by TD Bank:

Basic CD’s

- 9 month CD yielding 0.65% APY with a minimum deposit of $250 required. The current national average for 6 month CDs sits at roughly 0.78% APY (to put this offer in perspective).

- Other terms available, contact a local rep for current rates.

No Catch CD’s

- 6 month CD yielding 0.45% APY with a minimum deposit of $250 required and one penalty-free withdrawal allowed.

- 12 month CD yielding 0.40% APY with a minimum deposit of $250 required and one penalty-free withdrawal allowed.

Step Rate CD’s

- 3 year CD yielding 1.47% APY. Year 1 yields 0.90% APY, year 2 yeilds 1.24% APY and year 3 yields 2.24% APY.

- 5 year CD yielding 1.80% APY. Year 1 yields 0.75% APY, year 2 yeilds 1.00% APY, year 3 yields 1.74% APY, year 4 yields 2.23% APY and year 5 yields 3.20% APY.

* For the Step Rate CD the annual percentage yield is a Composite APY. The APY assumes each stated interest rate will be in effect for the length of time identified (one (1) year period).

TD Bank has locations in Connecticut, Washington D.C., New Jersey, New York, New Hampshire, Florida, Massachussetts, Maryland, Maine, Pennsylvania, Vermont and Virginia.

Also check out: TD Bank’s Checking Account Bonus

Highest yielding money market account rates in New Hampshire

Below are the highest yielding money market account rates serving citizens of the state of New Hampshire.

If you are strictly after the best interest rate then you have a variety of options that will provide you with similar yields. The question you need to ask yourself is, “what type of minimum balance can I keep?” Most money market accounts provide a given interest rate based on a certain account balance. The more money you are able to keep in these accounts, the higher the interest rate you will generally receive.

After sorting through dozens of interest rate tables belonging to banks and credit unions serving the state of New Hampshire, we have found that in many instances you will lock in more competitive rates with national institutions rather than local ones (if you are eligible). Before committing to one of the banks/credit unions listed below, you may want to browse through our national money market rates tables.

Keep in mind, money market rates are time-sensitive in nature, therefor you may want to refer to the date of this article for accuracy. As with all money market accounts, the interest rates are variable and are subject to change without notice.

Top 2 money market rates in New Hampshire:

(click on the institution for more information)

• Bellwether Community Credit Union: Nashua, NH. Money market account yielding up to 1.50% APY depending on your minimum balance. If you maintain a balance of between $2,500 and $9,999 you will receive an interest rate of only 0.65% APY. If you maintain a balance of between $10k and $49,999 you will receive an interest rate of 1.20% APY. With a balance of $50,000 or more yield and APY of 1.50%. Anyone who works or lives within the state of New Hampshire is eligible for membership. Contact: (603) 645-8181
• Community Guarantee Savings Bank: Plymouth, NH. Money market account yielding only 1.0% APY with a minimum balance of $1,000. In 1988, Community Guaranty Savings Bank opened on Main Street in Plymouth, NH. Incorporated by local investors and managed by local business people, their goal was to provide area residents and firms with a locally owned bank that shared their stake in the Plymouth community. Today, CGSB’s assets have grown to more than $90 million, with branches in Plymouth and Campton, NH. Their services have also expanded, now rivaling those of much larger banks. Contact: (603) 536-0001

Both of the above institutions are federally insured by either the NCUA or FDIC. If you live in New Hampshire and know of a better money market rate offered through your local institution, please share by leaving a comment.

Best Certificate of Deposit Rates in New Hampshire (Top 3)

Below are the top 3 certificate of deposit rates for residents in the state of New Hampshire. The maturities on these accounts range from 24 months to 5 years. As you may already know, the highest rates typically come from the longest maturities. After researching some of the highest yielding 6 and 12 month CD’s in the greater New England area I noticed that a few of the national banks offer better rates than the local ones. Therefor I didn’t include them in the list below. Compare CD rates available nationwide to see how they stack up against your local rates.

Bank rates are time-sensitive in nature, please refer to the date of this article for accuracy.

Top 3 certificate of deposit rates for New Hampshire:

(clicking on the institution name will bring you to their rates page)

Bank of New England: 24 month CD yielding 2.50% APY with a minimum deposit amount of $500. Bank of New England is headquartered in Windham, New Hampshire and was established in the mid-90′s. They are a community bank that originally focused on local small and mid-sized businesses. They have nine branches currently serving central and southern New Hampshire, the Merrimack Valley, and the greater Boston area. They claim that many more are to come and that they are the fasted growing bank in New Hampshire.

Anheuser Busch Employees Credit Union: 60 month CD yielding 3.40% APY with a minimum deposit amount of $1,000. ABECU serves the employees and retirees of all Anheuser-Busch Companies, wholly-owned subsidiaries and distributors of Anheuser-Busch products as well as contract employees reporting to an Anheuser-Busch employee. Note: You will find better rates on 5 year CD’s from national banks. Compare 5 year CD rates.

Service Credit Union: 60 month CD yielding 3.00% APY with a minimum deposit amount of $1,000. Service Credit Union serves the people who live or work in the state of New Hampshire (except for Coos County). They were founded in 1957, originally chartered to serve the military, and civilian employees, at Pease Air Force Base in New Hampshire. Today, Service Credit Union provides financial services to over 100,000 members residing all across the U.S. and around the world. Note: You will find better rates on 5 year CD’s from national banks. 5 year CD rate comparison.