Choice Financial RateBuilder savings account
Category: Bank Deals, Savings Account Rates- fhuff- 9:12 am/ May 9, 2011Choice Financial has a savings account that earns up to 1.31 percent annual percentage yield (APY). The RateBuilder savings account can be opened online and is for individuals only. Details of the savings account include:
- Minimum opening deposit of $5,000
- Total deposits must not exceed $250,000
- 1.31 percent APY is introductory rate for 30 days
- $50 closing fee if savings account is closed within 12 months
- Free online banking
- Free estatements
- Free mobile banking
- Six withdrawals or transfers per month
- Insured by the Federal Deposit Insurance Corp. (FDIC)
After the 30-day introductory period the account earns tiered savings rates: 0.51 percent APY for $5,000 to $24,999, 0.61 percent APY for $25,000 to $99,999 and 0.71 percent APY for $100,000 or more. Interest is compounded and credited quarterly. The savings rates are current as of March 10, 2011, and could change at any time.
Choice Financial also has a RateBuilder Health Savings Account that earns up to 1.4 percent APY. The savings requires a minimum deposit of $100. The account has tiered interest rates, and interest is compounded and credited quarterly. There is a $25 fee if the account is closed within the first 12 months.

