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Great CD Rates, IndyMac is Back

IndyMac Federal Bank ads are starting to pop up with greater frequency. This week on the IndyMac website they are promoting a 13 month CD with an interest rate of 3.80% and a one year CD with a rate of 3.75%. The minimum to open this CD account is $5,000.00. These promotional interest rates are for CDs opened online. IndyMac prices their CDs differently depending on whether the CD is opened online or in a bank branch. The bank branch rate for a one year CD is 3.50%. Last week in the Los Angeles Times, IndyMac was advertising the one year CD at 4.00%. That rate required a checking account to b opened at the bank along with the CD account. IndyMac also offers a variety of checking, savings and money market accounts both online and through the bank branches. The interest rates on the IndyMac online money market account starts at 3.00% for bank account balances of $1,000.00 to $9,999.00, increase to 3.10% for balances between $10,000.00 to $24,999.00 and pays an interest rate of 3.25% for balances over $25,000.00. The minimum amount to open the account is $1,000.00. The IndyMac website is www.indymacbank.com. The phone number for Indy Mac is 800-600-6405. IndyMac Federal Bank, F.S.B. is chartered as a Savings Association; the primary regulator is the Office of Thrift Supervision. Rates subject to change and certain conditions may apply, contact the bank for details.

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