There is no shortage of good rate deals out there and with BankingMyWay on the case, here are some of the best.
Money Market Rates
With the BankingMyWay weekly money market tracker showing rates stuck at 0.50%, a money market deal with an APY of 1.70% is nothing to sneeze at.
But that’s what you can get at the Bank of Internet, who is offering a money market rate of 1.70% for account balances as low as $1, with free checks, no fees, and a nice wrinkle: online images of checks and statements for five years (great for tax season). A minimum $100 deposit is required to qualify.
CD Rates
With average CD rates at about 1.59% for two-year issues, getting a rate almost twice as much may seem like a tall order.
But, that’s not the case for the International Bank of Chicago. The bank actually lists four decent CD rates, with a 3.00% APY on its 24-month CD; a 2.75% rate on an eighteen-month CD; a 2.50% APY on a one-year CD; and a 2.25% APT on a six-month CD.
You can get the application online and a quick wire transfer of funds will get you the best rate, but if you snail mail the check, you might get dinged a few basis points.
Checking Account Deals
ING Direct has a $50 bonus deal on its “electric orange” bank checking account. The APY is so-so at 0.25% for accounts up to $50,000, but the rate goes up to 1.60% for accounts between $50,000 and $100,000; and 1.65% for deposits larger than $100,000.
But ING is sweetening the pot with a few good features, including free online bill pay, free ATM access at 35,000 ATMs nationwide (under the Allpoint banner), and free postage paid by ING for bills paid with paper checks. You can even send electronic checks via ING’s secure network.
However, a note of caution -- to get the $50, you may have to open an ING savings account first. And, you’ll need to make three purchases using the ING debit card within 45 days of opening the account.
Auto Loans
With rates for new auto loans (for four-year deals) at about 6.38%, according to the BankingMyWay auto loan rate tracker, how about a 3.99% rate for a new set of wheels?
That’s the deal with First Tech Credit Union, where you can get that rate for financing up to 100% of the MSRP on “new autos that have not been licensed or titled” – or cars made in 2006-and-up. The rate is good for new car deals of 0-84 months, although for loans from 73-84 months, a minimum $20,000 loan is required.
First Tech also has a deal on used cars -- a minimum of 4.49% for 2005 models or older, but note that maximum mileage on the used car is 100,000 miles.
—For more ways to save, spend, invest and borrow, visit MainStreet.com.
|
|
|
|
Higher Rates