If you are looking for long-term savings, EmigrantDirect has a certificate of deposit with a 2.5% annual percentage yield (APY). When you open a MyWay CD you must choose a term of five to 10 years. Shorter terms have rates of 2% APY. Other details of the CD offer include:
- Minimum deposit of $1,000
- Must have an EmigrantDirect American Dream Savings Account
- Penalty for early withdrawal
- Insured by the Federal Deposit Insurance Corp. (FDIC) up to $250,000 per depositor
Interest on CDs can be withdrawn by transferring the money to your linked account. The bank notifies you 14 to 30 days before the date of maturity. At that time you can decide to renew the CD, deposit additional funds, withdraw some money, or close the account.
The American Dream Savings Account has no monthly fees or minimum balance requirements. The savings can be linked to any checking account. The savings account had a 1.2% APY as of Dec. 4, 2009.
You can open a savings account online. You can make the initial deposit to your savings with a check, but future transactions are processed electronically between your savings and checking accounts. You can link up to two checking accounts to the EmigrantDirect savings account.
- 6 Month CD %
- 1-year CD %
- 2-year CD %
- Money Market Account %
- Savings Account %
- 30-year Fixed Mortgage 3.62 %
Bank rates provided by MoneyRates.com based on average rates for deposits under $10K and conforming mortgage rates
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If you know of any bank deal that we haven't featured on our blog yet, we would love to hear from you.
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