Bank Deals, CD Rates, Savings Account Rates

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.

Beverly Hills, Calif.-based Excel National Bank has a Premium Money Market that earns 1.05 percent annual percentage yield (APY) on balances of $100,000 and up. The money market account is good for customers who want higher interest rates on higher balances and can limit their transactions. Details of the money market offer include:

• Minimum opening deposit of $1,000
• $20 monthly service fee
• Monthly service fee waived for minimum daily balance of $10,000
• Up to six debits per month, including checks
• Free online banking and bill pay
• Interest compounds daily and is posted at the end of each month

Excel National Bank also has a 2-year certificate of deposit that earns 1.01 percent APY. The CD rate is currently good for balances. The bank offers other CD rates and terms that include:

• 3 months earns 0.3 percent APY
• 6 months earns 0.5 percent APY
• 1 year earns 0.8 percent APY

The minimum opening deposit for certificates of deposit is $10,000 and there are no monthly service fees. Interest on CDs compounds daily and is credited upon maturity unless you choose to to receive interest payments. Withdrawing funds early from a certificate of deposit may result in a penalty.

AloStar Bank of Commerce has a 1-year CD rate of 1.27 percent annual percentage yield (APY). The CD rate is above the average rate of 0.66 percent APY for a 1-year certificate of deposit. The interest rate is current as of July 11, 2011. Other CD rates and terms include:

• 0.26 percent APY for 30 days
• 0.81 percent APY for 90 days
• 1.12 percent APY for 6 months
• 1.08 percent APY for 9 months
• 1.17 percent APY for 17 months

You need a minimum opening deposit of $1,000 to open a certificate of deposit at Alostar. Interest is compounded daily. For CDs of 12 months or less any interest earned is paid at maturity. For CDs with terms over 12 months interest earned is paid annually. There is a substantial penalty for withdrawing funds early.
The bank also has a money market account that earns 1.06 percent APY on balances of $50,000 and up. Balances below that amount earn 0.5 percent APY. The money market offer is good for new customers who deposit at least $50,000 and for existing bank customers who transfer at least $25,000 from an external account. AloStar Bank of Commerce is based in Birmingham, Ala.

MetLife Bank has a 1-year certificate of deposit that earns 1.3 percent annual percentage yield (APY). The CD rate is for balances of $25,000 and up that are deposited in a single transaction. Certifcates of deposit can be opened online or by phone using offer code Snoopy16. Other terms of the certificate of deposit offer include:

• Choose a traditional CD or IRA CD
• IRA CDs cannot be opened online
• Funds deposited into CD must come from non-MetLife source
• Minimum deposit to open CD is $2,000
• Early withdrawal results in a penalty
• Insured by the Federal Deposit Insurance Corporation (FDIC)
• Free Identity Theft Resolution Services for being a MetLife customer

The certificate of deposit has tiered interest rates that include 0.9 percent APY for balances of 2,000 to $14,999 and 1.1 percent APY for $15,000 to $24,999. MetLife Bank has other CD rates and terms from 3 months to 5 years. Among the CD rates are 1.35 percent APY for 18 months, 1.55 percent APY for 2 years, 1.9 percent APY for 3, 4, and 5 years. Those CD rates are for deposits of $25,000 to $49,999.

E-loan has a CD rate of 1.26 percent annual percentage yield (APY) for a 1-year term. The interest rate is current as of June 3, 2011, and can change at any time. Other online CD rates and terms include:

• 1.05 percent APY for 9 months
• 0.75 percent APY for 18 months
• 1 percent APY for 2 years
• 1.15 percent APY for 3 years
• 1.35 percent APY for 4 years
• 1.9 percent APY for 5 years
• 2 percent APY for 6 years

Shorter certificate of deposit terms than those listed are also available. You’ll need a minimum of $10,000 to open a certificate of deposit at E-loan. The CD rates assume that the principal and interest will remain on deposit for the full term. Early withdrawal of funds results in a penalty fee.

E-loan also has an online savings account with tiered savings rates. The rates include:

• 0.2 percent APY for balances of $5,000 to $9,999
• 0.5 percent APY for $10,000 to $24,999
• 0.55 percent APY for $25,000 to $49,999
• 0.6 percent APY for $50,000 to $99,999
• 0.65 percent APY for $100,000 and up

E-loan offers banking services nationwide. It is a wholly-owned subsidiary of Banco Popular North America. Accounts are insured by the Federal Deposit Insurance Corp.