Best Bank Rates

Here’s a current list of top bank savings account rates as of 8/25/2009:

1. UFB Direct Savings Account: 2.00% APY
2. UFB Direct Money Market Account: 2.00% APY
3. State Farm Bank Money Market Account: 1.90% APY
4. Virtual Bank Money Market Account: 1.82% APY
5. Goldwater Bank Savings Account: 1.81% APY
6. AIG Bank Money Market Account: 1.81% APY
7. Flagstar Bank Money Market Account: 1.81% APY
8. Intervest National Bank Money Market Account: 1.80% APY
9. Heartland Bank Direct Savings Account: 1.76% APY
10. Bank of Internet USA Savings Account: 1.75% APY
11. Beverly National Bank Savings Account: 1.75% APY
12. Discover Bank Money Market Account: 1.75% APY
13. Excel National Bank Money Market Account: 1.75% APY
14. Umbrella Bank Money Market Account: 1.74% APY
15. Luana Savings Bank Money Market Account: 1.71% APY
16. Ally Bank Savings Account: 1.70% APY
17. Intervest National Bank Savings Account: 1.70% APY
18. Dollar Savings Direct Savings Account: 1.70% APY
19. Bank of Internet USA Money Market Account: 1.70% APY
20. iGO Banking Savings Account: 1.67% APY
21. Giant Bank Money Market Account: 1.66% APY
22. Ally Bank Money Market Account: 1.65% APY
23. Corus Bank Money Market Account: 1.65% APY
24. Capital One Direct Banking Money Market Account: 1.60% APY
25. Nexity Bank Money Market Account: 1.60% APY

Please leave a comment if a rate is incorrect or outdated.

First National Bank is advertising two competitive CD rates: a 4.50% APY 24-month CD and a 4.25% APY 12-month CD. Both have a minimum deposit of $1,000.

In addition to Dallas and Houston, the bank has branches in most of the major cities of Texas including Fort Worth, El Paso, Austin, San Antonio and Corpus Christi. Note, these special CDs may not be available in these other cities.

First National Bank has fair financial ratings for soundness: 3 star rating (performing) at Bankrate.com and a 3.5 stars (good) at BauerFinancial. Both are based on 6/30/08 data. The bank has been FDIC insured since 1934.

Banco Popular is offering some competitive short-term CD rates: 4.11% APY for a 7-month term and 4.15% APY for a 9-month term. The minimum deposit is $1,000.

These CD specials are not listed at the bank’s website. The promotion is scheduled to end on August 14, 2008.

Branches are located in California, Florida, Illinois, New Jersey, New York and in Arlington, Texas. Rates may vary by state, so make sure to call to verify.

Pentagon Federal Credit Union is offering 5.25% apr on their 5/1 Adjustable Rate Mortgages and 5/5 Adjustable Rate Mortgages. Those paying .5 in points will receive a .25 point reduction to their mortgage rate. See site for additional information.

Field of membership in Pentagon Federal Credit Union is open to those who work at the Pentagon as well as those who are active or retired from the U.S. Army, U.S. Air Force, or Coast Guard. Membership is also extended to those who belong to certain select companies or organizations . Those who don’t otherwise qualify for membership in this credit union are eligible to join via membership in the National Military Family Association(NMFA). Membership in the NMFA is open to all.

Pentagon Federal Credit Union has updated their share certificate rates. They are now offering a yield of 4.51% APYon their 7 year share certificates and 4.50% apy on their 5 year share certificates. They are also offering 4.01% APY on their 3 and 4 year share certificates. These yields are good for both regular and IRA accounts. The minimum deposit requirement for these certificates is $1,000.

Field of membership in Pentagon Federal Credit Union is offered to members of a large number of select organizations. If you dont qualify for membership through any of these organizations, you can become eligible for membership in Pentagon Federal Credit Union by virtue of membership in the National Military Family Association for $20.

AARP Financial Savings Center cut the rates today on both its High Yield Savings account and its Jumbo Secure Money Market account. The new yield is 4.05% APY for both. The Jumbo MMA yield had been 4.75% APY, and the savings account yield had been 4.50% APY. The new rate will only apply to accounts opened from today. Those who had accounts opened prior to today are still getting the old yields. They will be grandfathered in for now, but there’s no guarantee how long this will last.

Account Features:

The savings account and money market account share the following features:

• AARP membership is required
• Initial funding can be done by check or wire transfer
• Wire transfers: free incoming, $20 outgoing
• ACH transfers cost $2 via MoneyHQ service for incoming and outgoing
• MoneyHQ ACH in/out transfers limited to $5K/day and $35K/mo
• ATM card with $4.50/mo in reimbursements
• Only a soft credit pull

Savings Account features:

• $1 minimum opening deposit
• No monthly service charges

Money Market Account features:

• $200 minimum opening deposit
• $10/mo fee if balance falls under $200
• Check writing

Interest Checking Account features:

• $50 minimum initial deposit
• No monthly service fees for balances over $25
• First 25 online bill payments per month are free
• ATM card with $6/mo in reimbursements

National City Bank has again extended its 5% special CD. The latest expiration date is April 26, 2008. The promotional page at nationalcity.com/SaveNow lists a 4.75% APY 48-month CD and a 4.00% APY 24-month CD. Both have a $10,000 minimum deposit. There’s also a 3.50% APY 12-month CD with a $2,500 minimum deposit.

National City is also advertising a 5% APY 48-month CD for those who have a National City checking account or those who open a non-interest checking account with a minimum deposit of $1,500. Also being advertised is a 3.05% APY money market account with the rate guaranteed for 180 days for a minimum balance of $25,000.

Justice Federal Credit Union is offering 5.64% apy on their Grow With Me youth share certificate. The minimum/maximum initial funding requirement for this account is $1,000. For every birthday under the age of 18, an additional $1,000 can be deposited into the account. After 12 months this account switches to a variable rate which is based on the Fed Funds Rate plus a margin of 1.00%. At the age of 18 this account will turn into a student checking account.

Field of membership in Justice FCU is open to relatives of eligible members, a variety of contractor employees, US and DC Court employees, Department of Homeland Security and Department of Justice employees and retirees, as well as members of certain Law Enforcement Associations and other eligible groups. Many should be able to find themselves eligible for membership in Justice FCU by being a member of the National Legal Aid and Defender Association.

After the recent Fed interest rate cuts, many banks have been cutting their CD and savings rates as well. Bank of America’s current top CD rate has a 3.80% APY with $5,000 minimum balance.

Bank of America also offers a risk free CD with 3.35% APY and no fee early withdrawals. This means you can get the benefits of a high CD rate with the flexibility of a savings account.

This CD is only available online and not through brick and mortar Bank of America.

Wachovia Bank currently has a promotional CD, with a 5.05% APY yield and 5 month maturity. Minimum deposit for this certificate is $5,000.

This CD is only available online. Other online CDs have terms ranging from 3 to 24 months, and yields from 3.16% to 4.25%. Visit Wachovia’s rate table for more information on their CDs.