ELoan has raised their CD rates and added an interesting promotion.
E-Loan today announced that they are raising their CD rates. In all rate comparisons from 3 month to 5 years, the bank now offers one of the best CD rates available (although in no category do the offer the leading rate.)
The bank, however, has also started a new promotion, on 18 month and 5 year CDs, which when taken into account cause it to be the best CD rate in those two categories. The promotion offers an additional $250 on an 18 month CD with a deposit of over $50,000 and an additional $500 on a 5 year CD with a deposit over $50,000. The promotion expires on September 30, 2008.
The promotion is applied in terms of an interest bump-up so that $50,000 deposited in 18-month CD would yield approximately 4.70% and a 5 year CD approximately 5.30%. One cautionary tale here is that the language is deliberately unclear whether the interest bump up would apply to the full amount deposited if over $50,000, and customer service was unable to answer the question when I called them.
Geauga Savings Bank is an Ohio-based FDIC-insured bank, with a 3.5 star rating (good) at Bauer Financial. They've stepped into the rate game with some top Certificate of Deposit (CD) rates.
Their CDs are open to residents of all state with a minimum deposit of $25,000 and the maximum off $95,000. Interest is paid and mailed annually on the anniversary date of the CD or you can receive a monthly interest check (i.e., interest does not accrue).
The bank is small witth $550 million in assets but is FDIC insured. The bank was chartered in 1983.
BestCashCow is the most comprehensive bank rate site on the Internet. Since 2005, we have monitored savings account, money market account and Certificate of Deposit rates from over 8,000 banks and 7,700 credit unions to find and display the best offers for those looking to earn and save more. You can learn more about the company here.
BestCashCow is the most comprehensive bank rate site on the Internet. Since 2005, we have monitored savings account, money market account and Certificate of Deposit rates from over 8,000 banks and 7,700 credit unions to find and display the best offers for those looking to earn and save more. You can learn more about the company here.
