Bank Deals, CD Rates, Money Market Rates, Savings Account Rates

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Customers Bank has a money market account that earns 1.2 percent annual percentage yield (APY). The account requires a minimum opening deposit of $10,000 to obtain the promotional money market rate. The maximum deposit on the account is $500,000. Money market accounts are limited to six transfers to other bank accounts per statement cycle. A $5 fee may be imposed for excess transfers during each statement cycle and the account may be converted to a checking account for repeated excess transfers.

The bank also has other savings accounts with competitive interest rates. The Reserve Savings Account has a 1 percent APY and requires a minimum of $10 to open. Interest on the savings account is compounded and credited on a quarterly basis. The bank uses the daily balance method to calculate interest on the account.

A 13-month certificate of deposit is also available to help grow your money. The CD rate for the period is 1.15 percent APY and you need a minimum opening deposit of $10,000. After the guarantee period the CD rate may fluctuate.

Customers Bank has 11 offices in Pennsylvania, New Jersey and New York. Deposits with the bank are insured by the Federal Deposit Insurance Corp.

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Discover Bank has competitive CD rates

Category: Bank Deals, CD Rates- fhuff- 9:50 am/ August 1, 2011

Discover Bank has competitive CD rates, but you’re likely to earn the most interest with a longer term. If you can invest your money for several years, the bank has a 5-year certificate of deposit with a 2.35 percent annual percentage yield. Other CD rates and terms include:

  • 1 percent APY for 9 months
  • 1.2 percent APY for 1 years
  • 1.3 percent APY for 18 months
  • 1.4 percent APY for 2 years
  • 1.5 percent APY for 30 months
  • 1.75 percent APY for 3 years
  • 2 percent APY for 4 years
  • 2.6 percent APY for 7 years
  • 3 percent for 10 years

When you open a Discover Bank certificate of deposit you need an initial minimum deposit of $2,500. CD rates are subject to change at any time without notice. Interest earned on CDs can be accumulated in the account or transferred to another account. Withdrawing interest by check results in a $5 charge per check.

Early withdrawal of funds from your account results in a penalty of 3 months’ simple interest on the amount withdrawn for terms of less than a year, 6 months’ interest for terms of 1 year to 5 years, and 9 months’ interest for terms of 5 years and up.

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If you live in Oklahoma, the First National Bank of Pawnee has competitive CD rates. The bank does not accept out of state deposits to open a certificate of deposit. CD rates available as of July 27, include:

  • 0.5 percent annual percentage yield (APY) for 91-day single maturity
  • 1 percent APY for 182-day
  • 1.21 percent APY for 1 year
  • 1.31 percent APY for 18 months
  • 1.51 percent APY for 2 years
  • 2.02 percent APY for 3 years
  • 2.17 percent APY for 4 years

All of the CD rates are for single maturity and auto-renewable CDs, except for the 91 day CD. The 91- and 182-day CDs require a minimum opening deposit of $2,500.

For other certificates of deposit, the minimum opening deposit is $1,000. You can elect to have interest paid by check, checking deposit, savings deposit or added onto the CD. Early withdrawal penalties include 3 months’ interest for 1-year CDs and 6 months’ interest fo 2, 3, and 4-year CDs. The penalty for early withdrawal of a 91-day certificate of deposit is 91 days interest and 3 months’ interest for a 182-day CD. Deposits at First National Bank of Pawnee are insured by the Federal Deposit Insurance Corp.

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Urban Partnership Bank has a savings rate of 1.05 percent annual percentage yield (APY) for balances of $100,000 and up. Balances below $100,000 earn a savings rate of 1 percent APY for the online savings account. Details of the bank deal include:

  • $1 minimum monthly deposit
  • No monthly fees
  • No fees for transfers to and from other banks
  • 24-hour online banking
  • Limit of six bank-to-bank funds transfers each month
  • Direct deposit is available
  • Electronic statements
  • Insured by the Federal Deposit Insurance Corp. (FDIC)

The bank also has competitive CD rates for various terms. Currently, the bank has CD rates for deposits under $100,000 of 1.16 percent APY for 18 months, 1.46 percent APY for 30 months and 2.42 percent APY for 60 months. Deposits over $100,000 can earn CD rates of 1.31 percent APY for 2 years, 1.71 percent APY for 3 years and 2.52 percent APY for 5 years. Other rates and terms are available, including jumbo CD rates. To open a certificate of deposit you need a minimum of $1,000.

Urban Partnership Bank is a full-service, certified community development financial institution that was established in August 2010. It serves individuals and organizations in distressed communities in Chicago, Cleveland and Detroit.

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Metcalf Bank is offering a $100 cash bonus for opening up a checking account. The bank is offering the promotion through Aug. 31, 2011. Open a MyChoice checking account and get $50. Open a SaveUp savings account at the same time and get another $50. And when you set up a monthly automatic transfer between the two accounts the bank will double the interest.

The checking account offers free mobile banking and refunds of other banks’ ATM fees. It also offers six months of free identity protection and a free CheckPlus Debit MasterCard. You’ll also receive free estatements, email and text alerts. The $3 monthly fee on the account is waived for meeting certain requirements during each monthly statement cycle.

Other details of the bank’s offer include:

  • Minimum balance of $250 to receive the incentive for the SaveUp Savings
  • SaveUp Savings has a 0.5 percent annual percentage yield (APY)
  • Savings rate falls to 0.25 percent if automatic transfer requirement is not met
  • Savings rate is subject to change after opening account
  • Fees may reduce earnings
  • Fee may be imposed for closing account within first 120 days

Metcalf Bank is based in Lee’s Summit, Mo., and is a leading financial service provider in the state.

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