Best Bank Rates

central pacific bank pays up to 4.00% apy interest on their online checking account! open a free plus checking account with them to get this high yield checking account interest rate. there are a significant requirements and restrictions regarding this top online checking account rate:

1. a minimum of 15 purchases must be posted to the account per calendar month with the provided central pacific bank visa check card (this is a debit card that will deduct money from the checking account). additional purchases past the first 15 do not roll over to be counted on the next month.
2. there must be at least one direct deposit into this interest bearing checking account per month.
3. must be enrolled in check safekeeping service every month (customers can still view checks online).
4. the 4.00% high interest rate only applies if all of the above conditions are met and only to balances under $25000. addiitional funds in the account in excess of $25000 will only earn the lower rate (currently .05% apy).

given this information one can calculate the most interest interest earned in any given month with the high rate: about 83 bucks (figured it out with this cd interest calculator). not too shabby if all the requirements are met every single month and there is only $25,000 in the account. there’s no reason to keep more than the max since a higher interest rate can be earned from many different online banks. as a matter of fact many normal investment banks have higher rates than .05% on most no risk investments.

online banking at http://www.citibank.com is offering 12 mo CDs with 2.40% apy interest rate. citibank cd’s are great because the rate is the same no matter if it’s a jumbo cd ($100k+ deposit) or a small cd with the minimum ($500). citibank offers a wide array of online banking services such as online savings accounts, online certificates of deposit, online ira accounts, online checking accounts, and even health care accounts. citibank is also well known for their creative credit card commercials. talk about history: citibank was founded all the way back in 1812, the same year that president james madison asked the congress to declare war on the united kingdom.

taken from the citigroup corporate website:

Citi’s diverse portfolio include Citi Cards, CitiFinancial, CitiMortgage, CitiInsurance, Primerica, Diners Club, Citi Private Bank, and CitiCapital.

dollarsavingsdirect has top 16 month cd rates with 3.500 percent apy. This is a very high yield for only 16 months. Open a new CD account at dollarsavingsdirect bank with a thousand dollars minimum initial deposit.

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gmacbank.com has 12 month certificates of deposit at 3.500% APY interest. They have other certificates of deposit at terms of 60 months, 48 months, 36 months, 24 months, 18 months, 9 months, 6 months, and 3 months.

Search for highest certificate of depost rates online. Visit bank websites and blogs. Read the fine print before signing up.

Ing Direct Bank has a high cd rate for a 6 month certificate of deposit at 2.75% APY.

ingdirect is an online bank that does business on the internet, by mail, and over the phone.  They have the normal investment products (certificates of deposit, savings, IRAs, business CDs, ira CDs, interest bearing checking accounts, business savings accounts) as well as regular bank lending products (home mortgages, home loans.)  There are IngDirect cafes in Chicago, Honolulu, Los Angeles, Philadelphia, New York City, Wilmington, and St, Cloud.

Taken from the ING DIRECT website:

Our unique approach to banking is backed by ING (NYSE:ING), a global financial institution of Dutch origin offering banking, insurance and asset management to over 60 million private, corporate and institutional clients in more than 50 countries. ING employs over 112,000 people in 50 countries, including more than 10,000 in the US, and has been operating in America for over 100 years. ING DIRECT is a member of the FDIC (Federal Deposit Insurance Corporation) which insures bank deposits up to $250,000.

Online banks offers various investment products without having traditional bank offices. All business is done online, by mail, or over the phone. To do business with an online bank you simply link your existing external checking or savings account (this can be from another online bank or from a traditional bank.)

Make sure the online bank is an FDIC insured financial institution. Also look for the highest savings rates and highest CD rates before investing money.