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SmartyPig is fairly new service that allows you to invest to meet specific goals.  SmartyPig funds are deposited with West Bank that is FDIC insured.  As of 3/2/2009, SmartyPig’s rate is 3.25%, one of the best in the industry right now but remember that this rate can change at any time.

Here’s how SmartyPig works:

SmartyPig isn’t like most of your bank accounts.  Instead, it’s designed for those that are looking to meet specific goals.  Whether you want to save for a vacation, car or wedding, it allows you to input a goal and as you save, it will show you how close you are to your goal.

On top of the savings account, you can also get as much as 6% back into your account when you shop with particular retailers they list on your account.  This is great for those looking to shop and get cash back as well without the hassle of depositing checks, etc.  Some of these retailers include Amazon.com, Best Buy and more.

The account is free, there’s no minimum balance and interest is posted quarterly.

For more information, visit SmartyPig.com or call 1-888-567-6278.

UPDATE:  Open to WA residents only.

I’ve finally found a CD that’s over 4% and it’s with Regal Financial Bank.  Now, I know it sounds too good to be true at this time and it sort of is in a way because you need to meet the following restrictions in order to get this rate but it’s a great rate if you have a big deposit to make on your CD.

In order to get this CD, you must open up a checking account with at least $500 and a savings account with at least $1,000 for a total of $1,500.  It may sound like a lot of work but it may be worth it if you have a lot of money to put into the CD.

This offer is valid until March 15, 2009 and is for new money only.

Regal Financial Bank is FDIC insured and has a 3 / 5 star Bankrate safe and sound rating.

For more information on this CD, visit RegalFinancialBank.com or call 253.867.1662.