Bank Deals December 27th, 2008

There have been a lot of reduced rates in bank account rates recently due to the Fed rate cut on December 16th. Here’s a list of all the changes:

CD Rates

Here’s a list of nationwide CD rates as of December 27th, 2008.

1. 5.10% 5-year CD at Navy Federal Credit Union
2. 4.75% 3-year CD at PenFed
3. 4.15% 17-mo CD at Western Federal Credit Union
4. 4.00% 6-mo CD at Navy Federal Credit Union
5. 4.00% 7-mo Add-On CD at America’s Credit Union
6. 4.00% 12-mo CD at Mountain America Credit Union
7. 4.00% 12-mo CD at GMAC Bank
8. 4.00% 16-mo CD at DollarSavingsDirect

Savings Account Rates

All savings accounts stayed the same or trended downwards with no accounts increasing their rates. 3 banks still have a 4% APY, DollarSavingsDirect and Everbank are two of those banks. Here are the list of savings accounts that cut their rates:

1. Venture Bank Direct – 3.50% (-.1%)
2. GMAC Bank Savings – 3.25% (-.5%)
3. iGObanking – 3.08% (-.2%)
4. Capital One/Costco Savings – 3.05% (-.32%)
5. ETrade Savings – 3.01% (-.3%)
6. OneUnited – 3.00% (-.35%)
7. National City 6mo promo – 3.00% (-.25%)
8. Capital One – 3.00% (-.25%)
9. Nationwide Money Market Account – 2.97% (-.3%)
10. FNBO Direct Savings 2.80% (-.45%)
11. GMAC Bank Money Market Account – 2.75% (-.5%)
12. IndyMac Money Market Account – 2.75% $25K+ (-.5%)
13. M&T Bank savings – 2.75% (-.25%)
14. Discover Money Market Account – 2.75% (-.15%)
15. Citibank Ultimate Savings – 2.50% (-.25%)
16. Capital One/Costco Money Market Account – 2.35% (-.75%)
17. Capital One Money Market Account – 2.10% (-.65%)
18. iGObanking checking – 1.75% (-.25%)

The Best Rate on Liquid Account (Checking/Savings/Money Market)

The best rate available today on a liquid account is a 4.08% APY offered by Everbank and Broadway Federal Bank.

The Best Rate on CDs by term

7 Year CD

Navy Federal Credit Union – 5.10% ($20,000 minimum) (5.25% $100,000+) restrictions to membership

5 Year CD

Navy Federal Credit Union – 5.10% ($20,000 minimum) (5.25% $100,000+) restrictions to membership
Apple Federal Credit Union – 5.10% (minimum $50,000)

2 to 4 Year CD

Christian Community Credit Union – 5.00% (minimum $1,000) not NCUA insured

6 to 18 Month CD

Christian Community Credit Union – 4.5% (minimum $1,000) not NCUA insured

3 Month CD

H&R Block Bank – 3.65% (minimum $5,000)