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A line of credit that does not have a specified repayment schedule but may require a minimum payment to cover interest and contribute to paying off principal. Typical of credit card loans, checking account cash reserve or overdraft accounts that have pre-approved lines of credit.
As the credit crisis continues, banks continue to either increase the rates being offered on certificates of deposit or maintaining the high CD rates already being marketed. During this time of financial upheaval these interest rates are making certificates of deposit a very competitive location to store money for customers looking for safety with a
Harford Bank was established as a national bank as of 1964. Harford Bank was originally named Aberdeen National Bank. The bank is a Maryland chartered bank with its principal office in Aberdeen, Harford County, Maryland. Harford Bank now has seven bank branches in Harford County, Maryland and neighboring counties. The bank draws most of its
Some long-term, high yield certificates of deposit have call features, meaning that the issuing bank may choose to terminate or call the CD after a predetermined period of time. The original investment with accrued interest will be return to the investor. Only the issuing bank may call a CD, not the account holder. A bank might decide
Interest rates retreated on most bank products and fixed income securities as the second week of July came to a close. Fixed rate mortgage made the largest move to the downside, surpassing the downward yields of long term government bonds. One exception to the declining rates was a slight improvement in the yields paid out
The last couple of weeks have been tumultuous times in the stock and interest rate markets. The debt crisis in Greece has created havoc in the markets resulting in wild swings in the stock market and a flood of funds into the safe harbor of the Treasury market driving bank rates and CD interest
A bank with a primary market in a regional or metropolitan area but takes deposits from throughout the state in which it is located. It is typically more expansive than a community bank, but more restrictive than a national financial institution or money center bank.
Interest rates market movements were fairly subdued with the all of weeks trading in Treasuries and mortgage markets contained inside a fairly narrow range. The news for borrowers was mostly positive with mortgage rates moving to the downside and credit card rates holding even. CD rate investors have nothing to cheer about with pathetic yields
A Certificate of Deposit or CD is normally a fixed-rate, fixed-term investment that is insured for up to $100, 000 by the FDIC, a department in the Federal government.
Because the investment in a CD is for a longer period of time than a savings account of checking account, it pays a rate that is higher
Commerce Bank of Arizona is running a promotion for their PremiumPlus Checking Account. The PremiumPlus Checking Account offers a minimum annual interest rate of 2.25% APY through June 30, 2009. With this checking account, the accountholder will receive free internet banking, online bill pay, no monthly service charges and reimbursable ATM fees. The checking account
A company hired by a creditor to collect a debt that is owed. Creditors typically hire a collection agency only after they have made efforts to collect the debt themselves, usually through letters and telephone calls.
American State Bank of Grygla is an independent bank working with the needs of the community in mind and making all decisions locally. The bank was established on April 30, 1976 has been FDIC insured since that time. American State Bank of Grygla is chartered as a Federal Reserve Member and therefore the
Historically, money market mutual funds would pay a slightly higher interest rate than competing bank products such as savings accounts and money market accounts. Money market mutual fund rates, however have not always been the market leader in short term rates. With the ability to write checks and transfer funds without charge, many money market mutual funds may
Bank of Bolivar is a locally owned, community bank that started with its first full service location in Bolivar in 1997. The bank now has four bank branch locations and total assets of approximately $188,647,000. Bank of Bolivar has been FDIC insured since its inception on April 16, 1997. The bank is chartered as a
Improving economic data has driven interest rates higher including the rates on U.S. Treasuries and home mortgages however; CD rates did not follow along. Based on the most recent survey of the top bank CD rates performed by Selectcdrates.com, the national average CD rate moved down, not up for the week ending March 16, 2012.
Arvest Bank in Arkansas is promoting its short term CD as super. It is the super seven month CD special. Catchy advertising text found in the Arkansas Democrat-Gazette promotes the 7-month special with 3.41% APY. This 7 month CD has no penalty for early withdrawal as long as the CD is held for 7 days
Treasury rates and mortgage rates dropped precipitously immediately following the Federal Reserve announcement on Wednesday, September 17. The Fed statement released on Wednesday was expected to cover how and by how much the Fed would reduce the current monetary easing stimulus program that was started in September 2012. The market was fully expecting some reduction
There are several key features to a bank CD. One clearly being FDIC insurance. Bank CDs are one of the most safe and secure investments available, as long as the bank accounts remain within the FDIC insurance limits. A CD is one of many interest bearing bank products, the difference on CDs is the customer
It may surprise you to know that ATM machines were not popular when they first appeared. Consumers were wary of letting a machine handle their money, and they greatly preferred face-to-face interactions. But ATMs are much more profitable for banks as they don’t require paying a friendly smiling face to greet customers.
CD rates moved higher for the first week of January moving in concert with most bank rates and bond rates. It is certainly no time to pop the champagne for CD investors as the rate increase for bank CDs was quite mild. On the other side of the bank’s balance sheet, loan rates in the form