SmartyPig combines the features of a savings account with  social networking. The savings account is aimed at folks who want to put money aside for a specific goal. With savings rates averaging 1.32%, the 2.01% annual percentage yield (APY) being offered by SmartyPig is a pretty good deal. Here’s how the savings account works:

• Automatic transfers from your checking account
• Set up as many goals as you want
• Family and friends can contribute to your savings to help you reach goals faster
• Open a savings for free
• Savings goals can be a minimum of $250 to a maximum of $250,000
• Minimum deposit of $25 to begin savings goal
• Recurring monthly contributions must be a minimum of $10 to a maximum of $50,000

Once you meet your savings goal, the automatic monthly contributions stop. You can transfer the money into an existing savings or checking account for free. The savings also can be used to purchase gift cards from a variety of retailers. The bank does not charge monthly fees, load fees, or ATM fees.

All money in SmartyPig savings accounts is held at West Bank of Des Moines. Money in savings is insured by the Federal Deposit Insurance Corp. (FDIC) up to $250,000 per depositor.

Savings rates are averaging about 1.32%, but TD Bank has an Elite Savings with a 1.5% annual percentage yield (APY). The offer expires Nov. 30, 2009, and is available when you open a new TD Bank checking account. Other details include:

• Minimum deposit of $10,000 in Elite Savings and checking account
• New customers can apply online, by phone, or in a branch
• Existing bank customers must apply by phone or at their local branch
• Promotional savings rate is guaranteed as long as $10,000 minimum daily balance is maintained
• Savings accounts insured by the Federal Deposit Insurance Corp. (FDIC)

At the end of the promotional three-month period, standard rates apply and can change at any time. If the minimum daily balance falls below $10,000, the APY is 0.8%, which is current as of Nov. 8, 2009. The bank also charges a $12 maintenance fee if the balance falls below $10,000. Any fees associated with the savings account can reduce the amount earned.

When you open checking and savings accounts you get free access to more than 5,200 TD Bank or TD Canada Trust ATMs. TD Bank also offers free online bill pay and free coin counting at its branches.

The deal only applies to consumer accounts and does not apply to IRA Elite Savings Accounts.

Sovereign Bank has CD rates for saving for the short term and investing for the long term. The bank has a limited time offer for the save and invest CD package, which requires a minimum deposit of $5,000 to be split evenly between a six-month and 36-month certificate of deposit.

The deal requires you to deposit at least $2,500 into a six-month certificate of deposit with a 2.25% annual percentage yield (APY). There are no fees or penalties for early withdrawal after the first six days.

You also must deposit at least $2,500 in a 36-month invest certificate of deposit that matures on Nov. 30, 2012. Each year on the review date of Nov. 30, you earn a good rate if the S&P 500 Stock Index rises. If the S&P 500 declines, you may not receive an interest payment, but your principal is guaranteed so you won’t lose any money. There is a penalty for early withdrawals from the invest CD.

Call the bank or visit a local branch by Nov. 27, 2009, to find out more about the CD rates and to sign up for this deal. You can deposit a maximum $499,999 in the save and invest CD package.

Money in these CDs is insured by the Federal Deposit Insurance Corp. (FDIC).

Flagstar Direct has one of the best certificate of deposit rates for 36 months. The bank is offering a 3-year CD with a 3% annual percentage yield (APY). Flagstar also has a 1-year CD with an APY of 2.01%. The details of the offer include:

• Minimum opening deposit of $500
• Interest is fixed for term of CD
• Insured by Federal Deposit Insurance Corp. (FDIC)

You cannot make additional deposits into the account before maturity. You can withdraw interest anytime after it has been credited to the account. However, withdrawing interest before maturity affects the APY earned on the CD.

If you withdraw principal before the maturity date, you pay a penalty. The 1-year CD has a penalty of 180 days interest, whether it is earned or unearned. The 3-year CD has a penalty of at least 180 days interest, depending on how the penalty is calculated.

CDs automatically renew upon reaching maturity unless you notify the bank in writing before that date. The interest you received is based on rates being offered on new CDs. Flagstar also has the option of preventing the CD from being renewed if it notifies you in writing 30 days before maturity.

Open a checking account at Webster Bank and receive a cash bonus of up to $100. The bank offer is for residents of New York, Massachusetts, Rhode Island, and Connecticut. Other details of the offer include:

• Customer must complete one direct deposit, five Visa Check Card Signature purchases, or five online bill payments by Dec. 31, 2009
• Customer cannot have had a Webster checking account in the past 60 days
• Free online banking
• Bonus to be received by Feb. 19, 2010

Three checking accounts are eligible for the bonus promotion.The bank deals include a $25 bonus for opening a Totally Free Checking, which has no monthly fees or minimum balance requirements. This account requires a minimum opening deposit of $50.

The WebsterOne Relationship Checking offers a $50 bonus. This account has free ATM access at any bank with no Webster fee. However, there may be a charge from a non-Webster bank for using its ATM. The minimum opening deposit is $50 and deposits earn interest.

The Premier Checking offers a $100 bonus. The minimum opening deposit for this account is $500, and deposits earn interest based on current rates. If you are charged for using a non-Webster ATM, Webster Bank rebates the fees to you.