Countrywide Bank is now offering an online savings account called Savingslink. Tiered APY based on account balance.

<1k 0.00%apy
1k - 50k 4.01%apy
50k - 100k 4.25%apy
100k - 2.5mm 4.60%apy
2.5mm+ 1.50%apy

linky

theres a significant difference between 4.5% and 5%+ when dealing with LARGE deposits (the topic of this thread)

No minimums is not relevant to this thread.

I updated the summary with all of the rates from the rate thread as the new minimum (from the rules) happens to be 4.5% as well.

I think the new minimum be higher in this thread. Is there a reason it shouldn't be? Should we keep it open to be on the look out for product features?

Photowhit said:didYOUsearch said:theres a significant difference between 4.5% and 5%+ when dealing with LARGE deposits (the topic of this thread)

No minimums is not relevant to this thread.

While not relevent the rates are!!!

Please note the post just before mine requires 100K to pay out the same 4.5% you can get with $100 through my post.

Mark all those others negative, and perhaps your own!

I'm seeing 4.6% compared to your 4.5%

Photowhit said:Cheap said:

I'm seeing 4.6% compared to your 4.5%

At 100K at 50K they offer less, 25K even less...

I don't think you guys are following this at all.
If you want 4.5% for your $100k, then take it. Others should know there are better options.

The new AmboyDirect Premium Savings looks good at 4.75%, no fees, no minimum. I wonder if the rate is offered up to the max 250K.

Moved from Best current APY/APRs: The Daughter of The Mother - Checking, Saving, and Money Market: All Liquid Accnt Interest Rates


badguy said:
Anyone has comments on MBNA money market deposit account?

The info I gathered is:
No online banking
Automatic phone info line
No ACH and initial deposit can't be pushed in using ACH
$10 service charge when balance goes below $2500
No charge to close account at any time (which is good)
Provide checks

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I have searched thru this thread and see you got no answers on this but in typical FW fashion received a lot of red, Guess I will too but since there is no discussion thread on MBNA accounts figure it would be better to ask here than start one. Now that they are at 5% for $50k+ this is looking like a good account and I like accounts that use some sort index to determine rates. MBNA uses MONEY FUND REPORT AVERAGES +.50% to determine interest rates. I have not had a MM with MBNA for a number of years but remember they were great to deal with. I opened one today and yes you have to mail in a check for initial funding. Figure once it is open I will be able to push funds from HSBC and Emigrant into it
P.S Countrywide Savingslink is also now 5% for $50k+
EDIT: Well I am dumb today, Since it seems they have no online access I would not be able to push money in. Figure I can still push those accounts into my high yield checking account, Which by the way is now 5.21%, and then just send a check while earning overlapping interest which is better than ACH anyway's

DaveHanson said:scott1961 said: my high yield checking account, Which by the way is now 5.21%, and then just send a check while earning overlapping interest which is better than ACH anyway'sPrey tell, which account is this? Amazing checking rate...I didn't see this in the Mother of APY thread. TIA.

I don't want to put word's in Scott's mouth, but I have seen him post on this account many times. It was a super hot deal (for very large spenders) that went away after a few weeks(?).

It is the Salem Five Platinum Checking Account that originally (Scott is one of the few grandfathered in) was based on the LIBOR rate. All new accounts are based on LIBOR -.5%. Essentially the (great) deal is closed but is still not too shabby for a checking account if you have the cash.

scott1961 said:http://www.fatwallet.com/t/52/560544/
Is my Salem Five Platinum checking account, Most here said it was a lousy account when I posted it back in October. It pays the current 1-month Libor rate but soon after offering it they change it to Libor minus 1/2% point. All those that opened prior still get full rate. Has unlimited check writing, free online bill pay and free Worldwide ATM plus a bunch of other perks. Better than any bank bonus with the number of overlapping days in interest I have received by using this account to fund new CD's and MM's

To be fair, Scott, you were posting strategies and bank specifics on an APR only thread. Additionally, while I don't agree with criticizing everything that doesn't apply to oneself personally, the "grandfathered" account required $200,000 to earn a competitive rate and "most" Fatwalleter's are no where near that so it was of limited use. I believe the new account only requires $50,000 but the rate can be beat by $500 minimum accounts.

scott1961, thanks for the reply. That is a neat account indeed if a person wants to keep very large balances there, especially if they are grandfathered.

Thought I would repost here in addition to the Daughter..APY thread, as it requires $25K initial funding (though appears to only require subsequent $2,500 balance to avoid fees). Boston area branches, unsure if non-local friendly thru their online banking/open by mail (maybe a branch in Scott1961's neighborhood)

5.15% APY savings guaranteed thru 2/28/07
Cambridge Savings Bank (Boston area, don't know if you have to go to branch or can open by mail)

link

T&C
Offer available from 5/22/06 through 7/28/06 and is subject to change without notice. Relationship checking and a new personal Relationship Savings account with a minimum of $25,000 in money new to CSB required to obtain Annual Percentage Yield. APY is effective 5/22/06 and is guaranteed through 2/28/07, then APY and rate will vary depending on the daily balance and Relationship Package enrolled in. A minimum daily balance of $10 is required to earn the APY. Fees could reduce earnings.

They have a Value Relationship Banking checking and savings account with $2,500 combined min to avoid fees. So it appears you must open with $25,000 new money then maintain $2500 to avoid fees.

I'm not familiar with them, just saw the ad.


EDIT: must live or work in MA