Last week complaints were made by the ABA (American Bankers Association) about Ally Bank offering high yields on their CD and savings products after its parent company, GMAC, received government aide due to its financial troubles. In what seems to be a response, the FDIC set an interest rate cap on under-capitalized banks that’s set…
As we all know Countrywide was taken over by Bank of America because of its financial troubles, and now Countrywide has been officially rebranded as Bank of America Home Loans. For those that are looking for the new login for their old Countrywide accounts they’re located at: www.bankofamerica.com/cwcustomers.
Ally Bank, which is the rebranded GMAC Bank, is offering a 2% APY online savings account with no minimum balances and no monthly fees. You may have seen some of their commercials on television recently as they’re making a big push to rebrand themselves. One feature that Ally Bank is offering over other online savings…
Franklin Synergy Bank is offering a 2.78% APY 5 month online CD which they’re calling their eCD. There’s an online application for the certificate of deposit and it’s available nationally. If you have any questions about the CD you can reach them at 615-236-2265. Franklin Synergy Bank is located in Franklin, Tennessee and has a…
Smarty Pig is currently offering an online savings account with an APY of 3.05%. Smarty Pig has been offering some of the best savings rates in the country for several months now, so this consistency speaks well to how the rate will most likely hold up over time. However, this great rate comes with a…
Pacific Mercantile Bank is offering 2.87% APY on their best IRA CD rates for terms of 18 months, 2 years, and 5 years. The minimum deposit is pretty high at $7,500. They have an online application, but you need to print out some additional forms and mail them in for opening an IRA CD. You…
The FDIC released their quarterly report on troubled lenders and their problem bank list has grown by 50 banks in the first quarter making the total number of troubled banks 305. This is the highest number since 1994. If you’re looking for specific names on those lists you’re out of luck. The FDIC does not…
Quantum National Bank is offering some of the best CD rates available today including a 3.10% APY 30 month CD, a 2.76% APY 1 year certificate of deposit, a 2.97% APY 2 year CD, and a 3.5% APY 5 year CD. The minimum deposit for all CDs is $1,000. There’s an online application to open…
Delta Community Credit Union is offering a money market account that’s yielding the following rates: 2.35% APY on balances over $100,000 2.15% APY on balances from $50,000 to $100,000 2% APY on $25,000 to $50,000 1.75% APY on $10,000 to $25,000 1.5% APY on $1,000 to $10,000 The account has no monthly fees, comes with…
The Police and Fire Federal Credit Union is offering several competitive CD rates including a 4% APY 5 year CD, 3.25% APY 30 month certificate of deposit, and a 2.40% APY 3 month CD. Membership to the Police and Fire FCU is available nationally but limited to active or former members of the police or…