rismoney said: EverBank 1.4% https://www.everbank.com/_campaign/banking/CDP/_html/C-MMA.aspx Following that link, It is 1.01% APY for the first year, the 1.4% is a 6 month bonus rate up to $50,000 with excess funds earning 0.61% . All funds appear to only earn 0.61% after the first year. [l=The]...]https://www.everbank.com/_campaign/banking/CDP/_html/C-MMA.aspx]The[/l] above Interest Rates (Rates) and Annual Percentage Yields (APYs) are accurate as of 8/1/2014 12:00:00 AM. Since this is a variable Rate account, the Rates and APYs could change without notice. At this time, we are pleased to be offering a six-month Bonus Interest Rate and New Account First Year APY to first-time holders of our Yield Pledge® Money Market Account. Keep in mind the Bonus Interest Rate may not be applied to funds transferred from another EverBank® account. Fixed for the first six months, the Bonus Interest Rate (currently 1.40%) will apply to balances up to and including $50,000. Funds in excess of $50,000 will earn the variable ongoing APY of 0.61%, which may change anytime - even during the first six months. The New Account First Year APY is actually a blended APY that combines the Bonus Interest Rate with the current ongoing Rates. The law requires that we calculate this blended APY for you, so that you have an estimated annualized figure that is based on your average daily collected balance. This isn't the exact APY you will earn since our current ongoing Rates will change periodically over the last six months of your First Year. Our New Account First-Year APY up to $50,000 is 1.01% APY. The New Account First-Year APY for balances from $50,001 to $10,000,000 is best expressed as a range: 1.01% to 0.61%; higher balances are accepted. Without the Bonus Interest Rate, the ongoing yield regardless of balance is 0.61%. The required minimum opening deposit is $1,500. Fees may reduce earnings.
yes, but my question was do i have to pick one of them (1.40% for 6 months OR 1.01% for 12 months). or if i can choose 1.04% for the first 6 months followed by 1.01% for the remaining 6 months (total term would be 12 months)?
AugustFour said: yes, but my question was do i have to pick one of them (1.40% for 6 months OR 1.01% for 12 months). or if i can choose 1.04% for the first 6 months followed by 1.01% for the remaining 6 months (total term would be 12 months)? From the website/disclaimer, it appears to be as follows:
Deposit up to $50,000:
1st 6 months it will earn 1.4%, 2nd 6 months it will earn 0.61%, for a 'blended' 1st year APY of 1.01% on the first $50,000 only (as they note they are required by law to calculate)
i have already a Flagstar checking account. can i open this 1.15% APY High Yield Savings Account? it says: Product Unavailable In Your Zip Code We're sorry, but the SuperSmart Savings 1.15% promotional rate is not available in your zip code. Please browse other Savings products avaialble in your area.
StinkyWizzleteet said: My Savings Direct is still @ 1.00% no fees no minimums. be wary of the parent company of mydirectsavings. they have a history of lowering rates, then creating a new internet bank with higher rates. they're hoping people are too lazy to move. this is their 3rd internet bank they've created.
Melrose Credit Union not only pays the same rate, but also has excellent rates on 5 year CDs. This credit union is open to everyone nationwide and consistently pays among the top rates. Why open an account with a bank offering a 'teaser' rate when you can open an account with a credit union (federally insured) that is competitive and eliminates the need to always follow the rates by closing out accounts?
Alan88 said: Melrose Credit Union not only pays the same rate, but also has excellent rates on 5 year CDs. This credit union is open to everyone nationwide and consistently pays among the top rates. Why open an account with a bank offering a 'teaser' rate when you can open an account with a credit union (federally insured) that is competitive and eliminates the need to always follow the rates by closing out accounts? No. Melrose's 1.15% rate is for a 1-year CD, which is quite a bit different from a liquid savings account.
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