iPod for opening a CD

Is this a good deal? I got this link from my friend:

http://www.netbank.com/pro349.htm

Looks appealing to me

Also do you know if opening CDs need a credit history check. Several CD offers are existing and was wondering if this would impact credit history

Thanks

What other CD offers are out there? Please post them!

1This offer is available only for first-time NetBank® deposit customers who apply through the links on this page and will be rewarded only once to any individual. To qualify for the iPod shuffle, you must open and fund either a NetBank: (1) Money Market with a minimum opening deposit of $1,000; or (2) 1-year Certificate of a Deposit (or longer term) with a minimum opening deposit of $1,000. Qualifying accounts must be opened and funded no later than 12/31/05 to be eligible. We will ship your iPod shuffle when (1) you fund a NetBank Money Market with a $1,000 average daily balance for 30 consecutive days; or (2) 30 days have occured since funding a NetBank CD. The iPod shuffle will be shipped within 4 weeks after you have met these promotional requirements. NetBank will provide the 512 MB version of the iPod shuffle. iPod is a registered trademark of Apple Computer, Inc. All rights reserved. Apple is not a participant or sponsor of this promotion. Offer is not transferable and may be modified or withdrawn at any time without prior notice.

2Annual percentage yield (APY) on the money market is 3.20% as of 10/18/2005. The APY on a money market account is variable and may change before or after the account is opened. There is no minimum balance to obtain the stated APY.

3The APY on a 1-year CD is 4.45% as of 10/18/2005 and may change before your account is funded. The rate and yield you receive are determined by the date we receive your deposit.

Money Market accounts: Because you have a limited number of withdrawals each monthly statement cycle, Online Bill Pay and Visa® Check card are not available for money market accounts. A service charge of $5 a month is charged for months in which the average daily monthly balance is less than $500.There is an additional $3 fee on the account if the account holder requests paper statements by mail. A total of 6 withdrawals can be made from a money market account during a statement cycle without incurring a $10 per-withdrawal fee.

CD accounts: Please allow two weeks for receipt of your CD Certificate. There is a penalty fee for any early withdrawal of funds.

In addition to the terms above, all new accounts are subject to NetBank credit approval, account opening procedures, and standard account terms and disclosures for the account (a higher balance is required to obtain the bonus). Based on account preferences and account activities, service fees or penalties charged against the accounts may reduce earnings. See the Fee Schedule and Truth-in-Savings disclosure for more information.

This offer is subject to all applicable laws and regulations and NetBank's Terms and Conditions.

FEES:

Account must stay open for at least 6 months or a fee of $25 will be charged.

To close your account, a fee of $7.50 will be charged (regardless of how long the account has been open).

bluegenie said: TiteArse said: FEES:

Account must stay open for at least 6 months or a fee of $25 will be charged.

To close your account, a fee of $7.50 will be charged (regardless of how long the account has been open).

Does withdrawing funds froma CD count as closing an account?

No, your CD ends at the 1 year term. You just have to be sure and tell them you don't want it to renew.

If you Cancel the Cd in less then 1 year then you loose half of interest rate or $25 whichever is greater.
CD should be redeemed with in 10 days of expiration else they will renew it and you will have pay panalty to redeem. (They will send e-mail and regular mail informing about cd renewal)

This is great. Thanks OP. Any other similar offers like this (bonuses for depositing up to a few thousand)? Thanks.

please put "shuffle" on the title...

I never did online CD. Anyone knows about how do I withdraw money after it is matured?

don't forget the taxes you'll be paying on the free ipod come tax season

same here

molecule said: this seems pretty good. if theres no fees i wouldnt mind throwing $1000 in a 4.45% cd for a year to get a free ipod

Great deal - I'm in. Hopefully the iPod arrives before 12/25 so I have 1 less Christmas present to buy! Thanks OP!

Does anyone know what kind of credit check they do - soft or hard pull? A soft pull is worth the deal ..

good find OP

iPod shuffle 512MB can be bought for less than $100(i.e. Staples.com has it for $100 and you can use $20 off $100 coupon + FatCash-3%, Staples rewards-5% and CashBack from your CC 1-5%)
but you will get 1099 for $100 from Netbank
so you end up paying tax on $100.

Better get $150 cashbonus from netbank for This Offer. Buy iPod shuffle for $80 and keep the difference

andhravala said: fotomaniak said: iPod shuffle 512MB can be bought for less than $100(i.e. Staples.com has it for $100 and you can use $20 off $100 coupon + FatCash-3%, Staples rewards-5% and CashBack from your CC 1-5%)
but you will get 1099 for $100 from Netbank
so you end up paying tax on $100.

Better get $150 cashbonus from netbank for This Offer. Buy iPod shuffle for $80 and keep the difference

Can we do both the offers and qualify for the cash bonus from both the offers.

most of banking bonuses are for new customer's only(sometimes it's for existing customers for opening new checking or savings accounts) and can not be combined with other offers. That's why it's worth waiting till the bank offers a decent bonus $100+ instead of applying for a smaller bonuses.

I never heard of this bank....are they any good?
Are they FDIC insured?

Why is everybody talking about opening a CD to get the IPod? Why not just open a Money Market account for a month, get the IPod, and then move your money back to where they were? Yes, Money Market account has a lower interest rate, but at least your money is not locked for a year. Am I wrong here?

Ah, I see that you have to have at least 500 there to avoid the monthly fee. But still, you loose about 3 dollars (the interest rate difference) in those 6 months that the account is open.

InvinciblePower said: Does anyone know what kind of credit check they do - soft or hard pull? A soft pull is worth the deal ..

good find OPI would also like to know if anyone can answer this. Thanks!

Goalkeepr said: InvinciblePower said: Does anyone know what kind of credit check they do - soft or hard pull? A soft pull is worth the deal ..

good find OPI would also like to know if anyone can answer this. Thanks!I sincerely doubt they do any kind of credit check. You're sending them money, not asking for a loan. As long as your check clears, you're approved.

I have had a check account and a mm account. Is that means I am not qualified to get the ipod? Don't know the exact meaning of deposit account.

looks like the deal might be dead?
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I was suprised to receive my iPod today after being shot down in multiple emails. I hadn't opened the account until after New Year's and it wasn't funded until Jan. 14th. I even spoke with them on Friday (phone), and they didn't want to give it to me. Obviously, they had already sent it out, but the rep didn't know this.