Best Bank Rates September 2009
The best bank rates September 2009 will vary depending on how you plan to place you money in a financial institution.
When it comes to saving accounts the best rate with no minimum deposit is from Ally Bank. This was previously known as GMAC bank. They have a rate of 1.75% APY and an interest rate of 1.73%. There is no minimum deposit required, but you must place money in your account to earn any interest. There is no monthly fee and all deposits are insured by the FDIC. The is a money market savings account so there is a maximum of 6 withdraw allowed. The interest is compounded daily and the bank itself is financially sound.
With a $500 deposit the Discover Bank online is offering a 2.00% APY for their online savings accounts. This again has a six transaction limitation.
One of the best returns on investment I could find is for a checking account. The First Arkansas Bank is offering a 4.44% APY for their checking account, but there are some restrictions and qualifications that must be met. To qualify you must be a U.S. citizen and make 10 debit card purchases each month. There must be at least on direct deposit of funds into your account or an online bill pay. All of your monthly statements must be electronic and access your account must be done online. To apply online you would need a valid Drivers License or state issued ID, a Social Security Number, a check book account somewhere else and has proof of residence for 2 years.
These are the best bank rates September 2009. All numbers are current as of 9/15/09.
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