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World Savings Bank is on the roll! They have another killer CD bank deal that just came out, a 5.91% APY 13-month online certificate of deposit on its website. It is an Internet online banking account. The minimum deposit is $10K.

This is a REALLY HIGH rate from a very reputable bank. I have a 9-month 6.01% APY CD with WorldSavings already.

Stolen from Bank Wire:

Open a Citi Bank Regular Checking Account and get up to $200

Just open a Citibank Regular Checking Account by 8/31/06 and receive $100. Then link the account to any Citi Credit Card and pay your Citi Credit Card bill by simply transferring money from your checking account and receive an additional $100.

Come in today to speak with the manager of your nearby Citibank Financial Center or call 1-866-335-1229 and mention code MVR4. Don’t wait - the welcome offer expires 8/31/06.

This is an easy deal, in my opinion. I already have a Citi Dividends Credit Card, so I’m just gonna open a checking and link it to my card. Pretty much a free $200 bank bonus for about 10 minutes of effort. I think that’s worth it.

HSBCdirect Online Savings has a special bank promo where new customers of their online savings account get a free $25 Best Buy GC.
HSBC Direct’s Money Market account is pretty good because it earns 5.05% APY.

GE Money Savings is a low rate online bank, with a 4.50% APY. However, they have a FREE $25 Bonus for signing up a new account. If you like bank hopping to get in on bank deals like these, here’s how to get free money.

Goto GE Money Savings and enter one of the following promotional codes on the right hand side of the page.

RSF126L - $25 cash
EMPL03 - $25 cash
TMW76 - $25 Men's Warehouse Gift Certificate
LNT312 - $25 Linens & Things Gift Certificate
KL76 - $25 IKEA Gift Certificate

Easy money.

I just opened a 6% 9-month CD at my local World Savings Bank. This is a REALLY HOT interest rate considering the Fed interest rate hikes stopped today. I also got a free safe deposit box from them for opening the account! I’ve never had one before.

Fed FOMC Meeting: No Hike

WASHINGTON (AP) — The Federal Reserve on Tuesday left a key interest rate unchanged, marking at least a temporary pause in what had been the longest unbroken stretch of Fed rate increases in recent history.

The Fed’s rate-setting committee voted 9 to 1 to leave the federal funds rate, the interest banks charge on overnight loans, at 5.25 percent. It was the first time the Fed had met and not raised rates in more than two years.

However, the relief for millions of business and consumer borrowers could be only temporary. The central bank said that “some inflation risks remain,” holding out the possibility that it could resume raising rates at future meetings.

For those who have $25K, you can have a free safe deposit box if you maintain a balance in excess of $25K at World Savings Bank.

No monthly service charge on a Checking-with-Interest account
Free World Check Card with checking account
Free safe deposit box
Free American Express Travelers Cheques (unlimited supply)
Free notary service
Free money orders (up to five per month)
Free teller’s checks (in amounts of $100 or more)
Free signature guarantee

It would be pretty cool to have a safe deposit box. I don’t know what I would put in it, but still feels pretty rich to have one. I’m planning on getting a CD account at World Savings just so I can get a free safe deposit box. Check it out!

Umbrella Bank has an online 12-month CD account that pays 5.67% APY. That rate is pretty high, in my opinion, so check out their online banking information.

Western Financial Bank has a CD account that pays 5.60% APY. It is a 9-Month CD and it is only $100 minimum needed to open a CD account there.

Emigrant Direct Bank Review has done an overview of Emigrant Direct and other online banks.

The second problem many banks are now facing is what to do with all the new money. Milstein says Emigrant has originated loans on only about $2.5 billion of the nearly $7 billion taken in by his Internet arm, with the rest sitting in low-yielding short-term investments.

The bank saw its deposits increase from $6.1 billion to more than $10.6 billion in the 12 months from March 2005 but saw its net loans on those deposits increase by less than 12 percent. Meanwhile, its cost of funding those deposits increased, lowering the bank’s return on equity for shareholders from 23.69 percent to 13.7 percent.

The author also points out the issues that Emigrant Direct is having with all the new money that is flowing into their bank from their Internet banking arm.

I heard a rumor that World Savings in offering 6.01% APY on their 9-month CDs. However, the rumor is that this deal is availible only in branches. Go drive out to your local World Savings Bank and inquire about this KILLER promo!

  • 6.01% APY (5.84% interest rate)
  • 9-month term
  • $10K minimum deposit
  • $100K maximum deposit
  • Requires money new to World Savings
  • Offer ends 8/26/06.

More details on this from Bank Deals.

FOMC Meeting on August 8

Bernanke will decide whether or not to hike the interest rate another quarter pt to 5.50%. Many analysts expect 5.50% to be the ceiling for the fed interest rate hikes, so any signs that the rate hikes will end may cause banks to start lowering their rates to consumers.

Keep an eye on the results of the August 8 meeting.

BankUnited has a 5.25% APY Savings Account. $5,000 minimum needed to open, and balance must be above $300 to avoid monthly fees.

OneUnited Bank has 5.25% APY on a UNITY Internet Savings Account. It looks like there is no minimum needed to get this rate. Check it out!

UFB Direct is offering 5.71% APY on their Internet CD accounts that are longer than 12-months. You can go as high as 60-Months and still get a guaranteed 5.71% APY. This is a great way to lock in interest rates for the future.

UFB Direct has a Jumbo Money Market account that pays 5.16% APY interest. The minimum balance needed for this account is $50,000.

No monthly maintenance fee.  All accounts come with an ATM card and checks, and ATM fees are reimbursed according to our worldwide ATM Reimbursement Policy. These accounts are FDIC insured for up to $100,000 per customer.

Nice features! I might be opening an account here.

Zions Bank is advertising a new Money Market Account called the Deseret MMA that has a few advantages over Zions Internet MMA. The two main advantages are that it earns 5.07% on balances as low as $1 rather than $1000, and second, it earns a higher rate (currently 5.23% APY) for balances over $50K. The only downside that I could find is that there’s a minimum opening balance of $1000 rather than

Original post by Banking Guy and software by Elliott Back

I drove by a local World Savings Bank on my way to work today. I noticed an ad in their window saying they have 5.76% APY on their 10-Month CD.

This offer may be different for people in differrent cities, so try your zip code to find out. I live in Southern California, and it is showing the 5.76% APY CD account rate for my zip. I will definitely be opening a CD account at World Savings Bank this weekend. This is a high CD account rate at a very reputable bank.

ING Direct is one of the pioneers in high-interest Internet banking. Their rates aren’t as competitive as before, offering only 4.35% APY on their Orange Savings Account while others are offering 5.00%+.

Nevertheless, they have one of the best online bankng websites that is very easy to use. I have had an account with ING Direct for years now.

Indymac Bank has a 5.15% APY e-Money Market account rate. $25,000 minimum balance to get the 5.15% rate. 4.35% APY for balances between $24,999 and $1,000.

$1,000 minimum deposit to open account. New money only.

Virtual Bank is offering a 5.13% APY on their eMoney Market account. To get this rate, however, you need to have a balance of $100,000+. Accounts with balances less than $100K but above $50K get a yield of 4.86% APY.
I personally have an e-Money Market account at VirtualBank, and I am happy with their internet online account manager and their fast ACH money transfers.

Imperial Capital Bank is offering 5.75% APY on their 12-month CD accounts. Minimum opening balance of $2,000, No Monthly Maintenance Fee, Penalty for Early Withdrawal.

I am thinkinig about laddering a few CD accounts here to lock in the current high interest rates for the future.

If you have $50,000 and need to stay liquid, Centennial Bank may be the solution. They are offerring 5.30% APY on their passbook accounts (which I assume is a money market account) if you maintain a $50K+ balance.

Corus Bank, a highly reputable and stable bank, is offering 5.72% APY on their 12-month CD accounts. The minimum deposit is $10,000.

Countrywide Bank has a 5.65% 12-month CD account. This is very competitive rate at a very well-known and stable bank.

I am looking into getting an account here in the next few days for my own money. A 5.65% APY rate guaranteed for 12-months seems like a good deal. Launches!

Official launch date: 07/21/06.

Choose the Chase PerfectCard MasterCard and get:

  • 6% rebates on ALL gas purchases at ANY gas station for the first 90 days1
  • 3% rebates on ALL gas purchases at ANY gas station after the first 90 days2
  • 1% rebates on ALL other purchases made anywhere3
  • 0% Intro APR*

The time period for the introductory APR and the balance transfers to which it will apply will be based on our review of your application and credit history.

Rebates are automatically credited toward future purchases made on your card.
Refuel anywhere. Earn rewards everywhere with Chase PerfectCard.

World Savings bank is running an online only promotion for a 5.51% APY 5-Month CD account. Looks hot.

World Savings is running a promotion in its physical branches which offers a 5.75% rate on a 3-Month CD.

This is an in-branch only deal, so you will have to visit your local World Savings bank branch to get in on this deal.

Countrywide Bank is offering a 5.25% APY interest rate on their savingslink savings accounts. $50K minimum deposit to get the 5.25% rate, otherwise it is 4.50%.
Best For individuals who want to earn interest rates among the highest in the nation on their savings, and maintain the flexibility to easily transfer money to and from their Checking, Money Market or Investment accounts at other financial institutions.

This is a savings account, so you are liquid and not tied down by maturity dates. I am personally thinking about getting a savings account and maybe a 12-month 5.65% CD account as well at Countrywide Bank.

Dime Bank is offering a 6.00% APY money market account interest rate.

Dime Direct Rewards Money Market Account
The introductory 6.00% Annual Percentage Yield (APY) is guaranteed for a three-month period from the date of account opening. It applies to daily balances up to $250,000 for three full months.

Rewards Money Market Account comes with free Internet banking. If you want free Bill Payment, simply open a Perfectly Free Checking Account.

HSBC has been aggressively cornering the online banking market in America. For those who live in California, have you noticed how HSBC bank offices have been popping up everywhere?

It looks like HSBC plans to expand its presence in Connecticut. Ever since HSBC started offering 5.05% on their online savings account, they have been creating quite a buzz in the online personal finance community. Keep an eye out for HSBC because they are on the come up.

In the letter I got from Emigrant Direct, they say that they will be raising their money market account rates to 5.15% starting July 28! That is going to be HOT.

I have already scheduled to take money out of my ING Direct Orange Savings Account to deposit into my Emigrant Direct American Dream Savings account. 5.15% is an AWESOME rate, putting Emigrant Direct back to the #1 spot on the best money market rates.

I received a letter via snail mail today from Emigrant Direct regarding the money market account I have with them.

Our new website will be launched on Monday, July 24, 2006. From that date forward, the first time you access the new website a new secure access code will be required. Also, please note that the website will not be available from Friday, July 21, 2006, at 5:00 PM ET to Monday, July 24, 2006, at 9:00 AM ET due to our conversion to the new website.

I got my new PIN login information from Emigrant Direct, and I’m eagerly waiting to try their new interface.