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Metropolititan National Bank is giving out $200 for every new customer that signs up for a checking account through their bank.  According to the bank’s website, the deal is open to all US residents.

Metropolititan National Bank’s free checking account includes the following:

FREE direct deposit
FREE online banking
FREE online billpay

Below are the terms and condition listed on their website –

Free checking account and $200 bonus offers subject to change without notice, limited to one account per customer. Free checking with the $200 bonus requires activating full direct deposit ($500 minumum)of recurring payroll, government benefits or retirement account disbursements. $200 bonus will be credited to the account after first full qualifying direct deposit posts. Bonus is considered interest and will be reported on IRS form 1099-INT. Account must remain open and full qualifying direct deposit active for 6 months from the date of account opening or the $200 bonus will be debited upon account closure. Metropolitan National Bank ATM and debit cardholders pay no Metropolitan National Bank fees to use any ATM worldwide, and any “foreign” ATM fees charged by owners of ATMs other than Metropolitan National Bank are rebated.

To find more information on this deal, visit their official website.

A new bank has popped up on the GOtalkmoney.com’s top ten charts for the first time.  The bank, Downey S&L Bank may be familiar to some but not too many others.  In this post, I’m going to give you a few details about the bank, so that you can become more familiar with the bank itself.

Downey Savings was started in California in 1957.  This is where their main branch is located but their CD rates are opened to everyone nationwide.

They have over 13.5 billion in assets and have branches located in Arizona and California.

Their current CD rates as of 2/12/2008

3 month CD – 3.75% APY

6 month CD – 3.75% APY

12 month CD – 3.00% APY

All CDs require a minimum deposit of at least $5,000.  If you’re interested in opening a CD with this bank, feel free to browse their website or call 1-800-9-downey.  Downey S&L bank IS FDIC insured.

For the past few weeks, the CD rate market has taken a hit and there’s no sign yet when the rates are going to pick back up.  Even though the rates are still dropping little by little each week, this doesn’t mean there aren’t good deals for the week –

Below are my top three CD rate deals of the week.  If you’re thinking about investing in a CD, I would highly recommend it right now before they drop another few points next week.  This has been the going trend for the past 2 months.

6 Month – ING Direct - $1 minimum – 3.65%

If you have no money to invest, this is the lowest minimum on the market today.  It’s very rare to see $1 as the minimum.

6 month – Countrywide – 4.15%

This is still a great rate for a low rate market.  Even though Countrywide is on the brink of a bankruptcy, it shouldn’t stop you from investing with them.

3 month CD – Downey S&L - $500 minimum – 3.70%

My advice with CD rates right now is to avoid the long term, the rates will pick up.  Just take a look back at history and you’ll see.  In the meantime, Downey S&L Bank is offering a fantastic 3.70% 3 month CD.  The previous post goes into detail about Downey S&L Bank.

I’ve had a few readers e-mail me and ask if there are any other places online where they can find current CD rates.  Below, I’ve listed a few of my favorites that I tend to check out from here and there.  If you have any you want to add to this list, feel free to comment.

BankDeals Blog

BankCD

Banxquote

Money-rates.com

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Let me know some of your debt fighting strategies.

20+ ways to get rid of debt