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High Yield Bank Accounts – April, 2007

Update: go to High Yield Savings Accounts – May, 2007 for an updated summary

This is another update from the banking expert at BankDeals — my favorite banking blog. The CD rates seem to have dropped slightly compared to the last update which I made on March 24, 2007.

Checking/Savings/Money Market Accounts:

3-Month Certificates of Deposit:

6-Month Certificates of Deposit:

9-Month Certificates of Deposit:

12-Month Certificates of Deposit:

18-Month Certificates of Deposit:

36-Month Certificate of Deposit:

48-Month Certificate of Deposit:

60-Month Certificate of Deposit:

High Rates with Conditions / Large Balances – Open to All

Source: Bank Deals Weekly Summary for April 21, 2007 at BankDeals


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2 Responses to “High Yield Bank Accounts – April, 2007”


  1. 1 XynamaX Apr 25th, 2007 at 12:52 pm

    RE: # Geauga Savings Bank – 5.45%

    I don’t like how banks are throwing out “teaser” rates for savings accounts now. If they offer a rate on a savings account, it should fluctuate with other rates.

    5.45% is nice, but after July 15th, who knows what the new rate will be. To open an account for 2-3 months of interest is a real hassle these days..

    For this one you really need to read the fine print though:

    *Signature Savings Annual Percentage Yield (APY) assumes principal and interest remain on deposit for one year. Interest is paid annually on December 31st of each year. Initial Rate is guaranteed through 07/15/07. For funds not currently on deposit with GSB. Rates subject to change without notice. Quarterly Statements. Deposit Range 0-24,999,99 Rate 0.0%/APY 0.0% $25,000-99,000 Rate/APY 5.45% $99,000.01-up Rate/APY 2.00%

    Your interest is paid on 12/31/2007! This seems more like a CD where you need to keep your $$ in for a specified amount of time before you see a return. You’re better off using an established savings account (emigrant, ing direct) then taking a chance on this. They don’t even offer online banking either!

  2. 2 Yan Apr 26th, 2007 at 12:28 am

    Yes, you have to look at details with each of these deals. Clicking on “info” may help since they guy often summarizes what you should be looking at with each offer.

    In this particular case (Geauga Savings Bank), I don’t see anything unusual with the short guarantee. Banks adjust savings rates all the time. If you need a longer guarantee — go with a CD.

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