Posts Tagged ‘OneWest Bank’
Best 3 month Jumbo CD Rates yielding just 0.75% APY
The best 3 month jumbo CD rates available to customers online and throughout the country can currently be obtained through one of 3 banks – MetLife Bank, Virtual Bank and Nexity Bank. All of these institutions are offering their 3 month jumbo CD’s at 0.75% APY. To put these offers in perspective, the current national average for 12 month CDs sits at just 1.00% APY.
About MetLife Bank – Most of us are probably more familiar with MetLife’s insurance products, namely life insurance, however MetLife also has an online banking division which offers customers bank CD’s with interest rates that are generally beating the national average by a significant margin.
Below are today’s best 3 month jumbo CD rates. All of these jumbo certificate of deposits require a minimum deposit of $100,000 to open.
Top 5 Jumbo CD’s (3 Month Terms):
(Rates accurate as of January 2011)
- MetLife Bank’s 3 month Jumbo CD is yielding 0.75% APY with a minimum deposit of $100,000 required.
- Virtual Bank’s 3 month Jumbo CD is yielding 0.75% APY with a minimum deposit of $100,000 required.
- Nexity Bank’s 3 month Jumbo CD is yielding 0.75% APY with a minimum deposit of $100,000 required.
- OneWest Bank’s 3 month Jumbo CD is yielding 0.70% APY with a minimum deposit of $100,000 required.
- NBC Bank’s 3 month Jumbo CD is yielding 0.65% APY with a minimum deposit of $100,000 required.
If your online bank is offering a better interest rate on a 3 month jumbo CD let us know by leaving a comment.
You can also compare the offers above with the best CD rates throughout the country from our extensive database of banking institutions (both credit unions and banks)!
OneWest Bank’s Mortgage Rates and Review
OneWest Bank, although based in southern California, can provide mortgages and home refinancing to consumers throughout the country.
About OneWest Bank FSB:
OneWest Bank, FSB is a regional bank focused on delivering personalized, relationship-based banking to its customers. The bank has 82 retail branches in Southern California with approximately $14 billion in deposits and total assets of $27 billion, including a loan portfolio, a securities portfolio, a servicing platform with mortgage servicing rights (MSRs) representing over 550,000 borrowers, and a reverse mortgage platform – Financial Freedom. OneWest is an FDIC-insured institution, and funds deposited in the bank are insured up to the FDIC’s insurance limit of $250,000 per depositor.
Current Mortgage Rates offered through OneWest Bank:
The 30 year fixed mortgage rates below are listed from lowest APR to highest APR. These rates are time sensitive in nature so please refer to the date of this article for accuracy. The scenario below assumes you are applying for a $170,000 home loan with an estimated home value of $240,000.
| 30 year fixed | ||||||
|---|---|---|---|---|---|---|
| Rate | Points | Points/Credit | Cost | Total | APR | Monthly |
| 4.375% | 1.459% | $2,553 | $4,766 | $7,319 | 4.628% APR | $874 |
| 4.50% | 0.729% | $1,276 | $4,766 | $6,042 | 4.690% APR | $887 |
| 4.625% | 0.241% | $422 | $4,766 | $5,188 | 4.773% APR | $900 |
| 4.75% | 0.00% | $229 credit | $4,766 | $4,537 | 4.866% APR | $913 |
| 4.875% | 0.00% | $1,152 credit | $4,766 | $3,614 | 4.945% APR | $926 |
| 5.00% | 0.00% | $2,191 credit | $4,766 | $2,575 | 5.018% APR | $939 |
| 5.125% | 0.00% | $2,406 credit | $4,766 | $2,360 | 5.133% APR | $953 |
The above pricing is accuarte as of July 21, 2010.
Terms and Conditions:
You may apply negative discount points, also known as a rebate, toward the payment of non-recurring closing costs only. If the rebate amount exceeds your non-recurring closing costs, OneWest Bank is not able to pay this amount to you. If this is the case, please select a lower interest rate.
Credit score restrictions may apply. Not all applicants will qualify for this rate and applications are subject to review of credit and collateral. Rates and terms are subject to change without notice.
If you have experience in dealing with OneWest Bank’s home loan application process, please share by leaving a comment!
1 year CDs (certificate of deposits): Who offers the best rates?
The 1 year CD remains the most popular deposit product on BankVibe this month. The one-year CD comes with a fixed rate and most banks will impose a hefty penalty fee for early withdrawals. If you are currently in the market for a 1 year CD and are strictly after the most lucrative rate, we suggest looking locally to your banks and credit unions as these institutions (depending where you live) can generally provide more competitive returns than the larger national banks.
Highest Yielding 1 year Certificate of Deposit Rates:
2.22% APY – Melrose Credit Union: Last time we reported on Melrose’s infamous 12 month CD it was yielding a whopping 3.08% APY when the national average was closer to 2.25% APY, they then dropped this rate to 2.27% and again to it’s current level at 2.22% APY. Keep in mind the national average for 1 year CD’s currently sits at a dismal 1.65% APY. Melrose Credit Union is headquartered in the Bronx, NY and serves the residents on that state.
2.01% APY – One West Bank (formerly IndyMac): This product was providing returns of 2.25% APY and recently dropped that rate to it’s now 2.01% level. Unlike Melrose CU, this institutions opens it’s doors to customers nationwide and frequently offers online CD specials. Currently they have an online 2 year CD yielding 2.25% APY and an online 3 year CD yielding 2.50% APY. They also offer a lucrative money market account which is providing returns of 1.75% APY, however like all MMA’s this comes with a variable interest rate which is subject to change without notice.
2.01% APY – Franklin Synergy Bank: This is 12 month “online only” CD which can be opened by customers nationwide. It comes with a minimum deposit requirement of $1,000. They also offer an “E-Savings Account” which provides yields of 1.15% APY on balances of $0 – $24,999 and 1.55% APY on balances above $25k. The E-Savings account provides more liquidity than the fixed rate 1 year CD, however it comes with a significantly lower interest rate.
OneWest Bank: 10 month online CD special – 2.15% APY
OneWest Bank has a very noteworthy online CD promotion going on as of the 21st of this month. Currently, you can invest in a 10 – 18 month CD (certificate of deposit) and earn a lucrative 2.15% APY. You must deposit at least $5000 into this account to earn the advertised interest rate.
The average yield for 12 month CD’s currently sits at 1.65% APY (to put this offer in perspective).
OneWest Bank is located in Los Angeles, California, however this product (since it’s ONLY offered online) is available to people throughout the country.
The application process is a sinch. All you need is social security number, drivers license or state ID, email address, mother’s maiden name (…slightly odd request) and some form of secondary indetification such as a passport. One West Bank claims the whole process only takes around 10 minutes. You must be atleast 18 years old to take advantage of this product.
If you are looking for something with more liquidity you may like their premium yield “E Money Market” which holds an APY of 1.85%. The national average for money market rates sits at around 1.20%. Unlike the online CD, this holds a variable interest rate and is subject to change without notice.
Many thanks to BankVibe reader Jenn for submitting this one to us!
Tags: OneWest Bank
OneWest Bank’s 6 month online certificate of deposit
OneWest Bank (formerly IndyMac Bank) has a decent rate on their 6 month online certificate of deposit. Currently they are offering customers nationwide a 6 month CD yielding 1.90% APY but with a hefty minimum deposit of $5,000. You know it’s looking pretty bleak when the best 6 month CD rates we find are yielding less than 2.0% APY. If you know of a better rate (even if it’s not nationally available) please let us know!
OneWest Bank’s Current Rates:
(as seen on their rates page)
- 3 month CD yielding 1.15% APY
- 9 month CD yielding 1.75% APY (you’re better off taking the 6 month promo online CD)
- 1 year CD yielding 2.25% APY
- 18 month CD yielding 2.30% APY
- 2 year CD yielding 2.45% APY
- 3 year CD yielding 2.80% APY
- 5 year CD yielding 3.50% APY
All of their certificate of deposit products are available online and to anyone within the country. The rates aren’t that spectacular, but if you are looking for a short term CD then the 6 month promo may be your best bet. Compare certificate of deposit rates.
