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American Express CD Rates May 10, 2010

Posted in May 10th, 2010
by admin in American Express CD

American Express Bank continues to offer competitive interest rates on their FDIC insured bank CDs and high yield savings accounts.  The American Express CDs have several different maturities to choose from and as of this week, the one year CD and two year CD from American Express are among the top ten highest CD rates [...]

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Choice Financial Almost the Best One Year CD Rate

Posted in December 8th, 2009
by admin in Bank Promotions

Choice Financial continues to offer one of the best short term certificate of deposit rates available in the national market.  Choice Financial is not often listed as having one of the best CD rates available.  The bank offers a certificate of deposit rate promotion that often slips under the radar because of the odd month [...]

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Best Bank Savings Rates October 29, 2009

Posted in November 3rd, 2009
by admin in Savings Account Rate Updates

The highest bank savings account rates dropped rather measurably for the week ending October 29, 2009.  The average of the top ten best bank savings accounts rates was down two basis points or 2/100 of a percent from the previous week.  The interest rate decrease brought the average yield down to 1.81% from 1.83% in [...]

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Savings Account Rates for the Week Ending October 16, 2009

Posted in October 20th, 2009
by admin in Savings Account Rate Updates

The best bank savings rates fell modestly for the week ending October 16, 2009.  The average of the top ten best bank savings account rates was down two basis points or 2/100 of a percent for the week ending October 16, 2009.
The highest savings account rate available nationally remained stable.  ShoreBank Direct continues to offer [...]

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Bank Savings Accounts and Bank CDs Bastion of Safety

Posted in October 11th, 2008
by admin in Tips

In these turbulent markets it would be prudent to position yourself  to be able to better ride out a bit of an economic challenge by reducing debt as much as possible and devising a spending plan that, even if it means some sacrifice, that allows for an increase in personal savings.  Banks are a bastion [...]

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High Yield Savings Account Online or Not

Posted in October 11th, 2008
by admin in Tips

Do the expansion of internet banking, many internet banks have offered high yield savings accounts to attract customers.  Because these banks will often have lower cost of operations, they are able to maintain these higher payouts or higher interest rates on certain online savings accounts and money market accounts.  The growth of these online banks [...]

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Savings Account, Money Market Accounts and CDs – Fixed or Not

Posted in October 11th, 2008
by admin in Tips

One advantage of a fixed rate certificate of deposit over a money market account, high yield savings account or bond mutual fund is that you know exactly what the interest rate will be over the term of the CD.  Most bank CDs are for a fixed rate and a fixed term.  Money market accounts, savings [...]

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CD Rate Updates

CD Interest Rates Continue to Fall July 19, 2010

National certificate of deposit rates once again moved lower for the week ending July 16, 2010. According to the most recent survey of bank CD rates performed by Selectcdrates.com, CD interest rates were lower for three of the five CD maturities measured and remained unchanged for the remaining two terms.
The average of the top [...]

Bank CD Interest Rates June 21, 2010

Certificate of deposit interest rates were just fractionally lower for the week ending June 18, 2010 based on the survey of bank CD rates performed by Selectcdrates.com. National CD rates for the three month, six month and two year maturities ended the week unchanged from the prior week. The one year and five [...]

Bank Certificate of Deposit Rates June 14, 2010

Certificate of deposit interest rates ended the week on June 11th with mixed results across the various maturities. The average yield for the five year CD rates ended with a gain on the week while the six month and one year term CDs remained unchanged. Unfortunately, the average rate on the top ten [...]

Banking & CD FAQs

I opened an account with a bank that had advertised the account as a free checking account but on my first statement they had fees subtracted from my account. Is this legal?
Under banking laws and regulations, a national bank cannot advertise a free account if you could be charged a maintenance or activity fee. But your bank can offer a free account and still charge for certain services such as check printing, ATM use, or overdrafts. Just because an account is advertised as free
What types of investments do money market funds hold?
Taxable money market fund investments include U.S. Treasury securities, federal agency notes, certificates of deposit, and commercial paper. Typically, tax-exempt money market funds, which seek to pay dividends that are exempt from federal income tax and/or state income tax, invest in instruments issued by state and local governments or what are called municipal securities.
Someone told me that their bank never places a hold on her deposited checks. My bank always places holds on my checks. Aren’t banks supposed to use the same schedule for making funds available?
Unfortunately, no. While all banks are subject to the same maximum hold periods established by law and the rules issued by the Fed, each bank may make deposits available sooner. Each bank determines what its policy will be. It can make all of the funds available immediately or delay availability up to
What financial institutions are members of the Federal Reserve?
National banks chartered by the Office of the Comptroller of the Currency are members of the Federal Reserve System. The Office of the Comptroller of the Currency is part of the Department of the Treasury. State banks may apply for membership as well.
National Averages
CD Rates, Bank Rates,
Fund Rates and Key Rates
6 Month CD Rates
1.18%

1 Year CD Rates
1.49%

2 Year CD Rates
1.85%

5 Year CD Rates
2.85%

-----------------
Money Market Act. Rates
1.21%

Savings Account Rates
1.39%

Money Market Fund Rates
3.11%

Tax Exempt Fund Rates
2.39%

-----------------

Bank & CD Tips

The FDIC does not Insure All Bank Products
The FDIC does not insure bank products that include annuities, insurance, stocks, bonds, mutual funds, or US treasury securities.  As more banks offer a variety of investment products, be clear which products do not carry the guarantee of FDIC coverage.  When using bank products that are not covered by the FDIC, be sure these investment
Managing bank overdraft protection fees
Bank overdraft protection can incur fees that quickly take a significant bite out of your checking account funds.  More often it is wise to reallocate your budget to avoid the fees that may be helpful in time of distress but are often overused by consumers who utilize the service.  Bank overdraft fees are expenses that
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