There are many indicators that the economy is making a recovery with the stock market rallying and job losses diminishing. However, it will still be a while before we see a return of 5% plus savings accounts. Here are the best rates the banks have to offer for August 2009.
Best Savings Account
Everbank – 3.01% (minimum deposit: $5,000)
Full list of savings accounts.
Bank Account Promotions
Bank bonuses Available for August 2009:
Get $25 free when existing customers try online bill pay at Bank of America.
Get $100 free when you open an online checking account at Bank of America.
Get $50 when you open an eSavings account at Amboy Direct.
Get $100 when you open a checking account at Flagstar Bank.
Get $50 when you open a checking account at ING Direct.
Get $230 when you open a checking account at Comerica Bank.
Get $150 when you open a savings account at WT Direct.
Full list of bank promotions.
Best CDs
Best 3 Month CD
Danvers Bank – 2% (4 month CD, $500 minimum)
Best 6 Month CD
Consumers Credit Union – 2% (7 month, $250 minimum)
Best 9 Month CD
Christian Community Credit Union – 2.25% ($1,000 minimum)
Best 1 Year CD
Delta Community Credit Union – 2.35% ($1,000 minimum)
Best 18 Month CD
Southeast Financial – 2.5% ($500 minimum)
Best 2 Year CD
Crane Federal Credit Union – 2.78% ($500 minimum)
Best 3 Year CD
Melrose Credit Union – 3.03% ($5,000 minimum)
Best 4 Year CD
Melrose Credit Union – 3.39% ($5,000 minimum)
Best 5 Year CD
Melrose Credit Union – 3.91% ($5,000 minimum)
Best 7 Year CDs
Pentagon Federal Credit Union – 4% ($1,000 minimum)
My complete list of CD rates.