Provident NJ Direct is offering a promotional 3.25% APY online savings account called Power Savings, with the rate guaranteed for the first 90 days that your account is open. After the promo introductory rate, the rate falls to 2.25% APY for balances below $10,000 and 1.75% for balances between $10,000 and $50,000. Still not too shabby for today’s rates.
The account has no minimum balance but you need at least $50 in it to earn interest. They only offer e-statements and the account comes with an ATM card. This promotional savings account is available nationally and there’s an online application that will let you fund your account through a ACH transfer.
Provident NJ Direct is also offering a Green Checking Account with a 3.75% APY interest rate on balances up to $1,000 and 0.5% for balances above $1,000. They’re also offering a MyTunes Checking Account that offers free iTunes downloads every month. You get $4.95 in downloads each month (about 5 songs), but you need to make 10 signature based debit card purchases a month. Not a bad deal if you use your debit card regularly and you download a lot of iTunes songs.
They also have a local rewards online checking account for New Jersey residents that’s yielding 4.01% APY for balances up to $25,000.
Provident NJ Direct is the internet bank division of Provident Bank of New Jersey. Provident Bank is FDIC insured and has student checking accounts.