Bankur.com - Personal Finance and Investing Advice » Finance, Banking, and Investing News http://bankur.com Educating the Masses on Personal Investments Sun, 14 Nov 2010 05:57:15 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Interest National 2.60% Savings Account http://bankur.com/interest-national-260-savings-account/ http://bankur.com/interest-national-260-savings-account/#comments Sun, 30 Aug 2009 18:29:17 +0000 Banker http://bankur.com/?p=227 Interest National 2.60% Savings Account

Interest National Bank gives you an alternative to short-term certificates of deposit that are just one percent on an average nowadays. How does it do that? The bank offers a 2.60 percent annual percentage yield (APY). You can even find good certificate of deposit (CD) rates if you invest on the bank.

Before you head to Intervest to apply for opening an account, take the time to read this information about them first.

What is Intervest National Bank?

Intervest National Bank is an online bank whose headquarters is located at the heart of New York City. They also have a full service banking location at Rockefeller Plaza, New York, and they have six branches in their Florida Division. It is a subsidiary of Intervest Bancshares Corporation, a financial holding company also in New York.

Interest National 2.60% Savings Account

Interest National 2.60% Savings Account

It has earned two out of five star ratings from Bankrate’s “Safe and Sound” rating system.

How to File an Account Application

Filing for an account is very easy. You just have to visit the website and complete the application form provided. Print this out and sign on the required spaces. Next, photocopy two legal identification cards you have. Remember that expired ID’s and copies of credit cards will make you ineligible for the account application. Make sure also that your ID’s contain a photo. After this, mail your application form with the photocopy of identification cards. Include a check for your opening deposit. Send your mail to the location of Intervest Bank National.

The minimum deposit for opening a certificate of deposit is $2,500. For the money market account, it’s one thousand dollars.

You may also fax your application to Intervest National Bank. You can also send your funds via wire transfer if that will be more convenient for you. The cut-off time for this is 2:00 PM. Any application filed after the said time will be processed the following day. Also, an incoming wire charge of fifteen dollars will be subtracted from your opening deposit.

After the account is opened, you may receive account documentation from the bank.

Regular Savings Account

Regular savings account is for individuals who need to make convenient withdrawals from their savings account. The minimum deposit required to open an account is a hundred dollars, but you will be charged a twelve-dollar service fee if you don’t keep a maintaining balance of five hundred dollars.

Intervest National Bank will then pay you 2.06 percent annual percentage yield. For instance you keep a balance of five hundred bucks a year. At the end of the year, you will have a total of $513 on your account.

Certificates of Deposit

Intervest National Bank also gives a full line of CD’s with maturities ranging from six months up to ten years. Interests are compounded daily and added to your monthly balance. A minimum deposit required to open a CD account is $ 2,500, as aforementioned. Interest is fixed over the term of the CD, but early withdrawals may warrant penalties.

With these, try Intervest National Bank now.

]]> http://bankur.com/interest-national-260-savings-account/feed/ 0 Gold Equity has Peaked and Gold Investment is Dropping http://bankur.com/gold-equity-has-peaked-and-gold-investment-is-dropping/ http://bankur.com/gold-equity-has-peaked-and-gold-investment-is-dropping/#comments Fri, 17 Jul 2009 20:48:20 +0000 Banker http://bankur.com/?p=199 Recent reports have shown that the demand for gold has been decreasing. Gold is usually a metal where people often invest their money when they do not feel that the overall market is stable enough or secure enough to handle their investments.

Gold often rises whenever the overall market is dropping – this is because it is a fairly low-risk investment option that holds value very well. During the recent global recession, gold prices have risen sharply as more and more investors have placed their trust in the gold market.

However, recent statistics are showing that gold is starting to fall very slightly. Bullion for immediate delivery fell about .2 percent to $935.7 an ounce at 1:31 pm in Singapore.

Gold has “had a really big run relative to other commodities this year,” Westpac’s Smirt said. “If you want to see gold really get a ‘wiggle’ on, you’re going to have to see a huge run on oil, copper and the major comodities, and really be showing there’s a huge, massive demand-pull and potential inflationary risk out there.”

For more information, read up on this issue at: http://www.bloomberg.com/apps/news?pid=20601091&sid=aGpLew6dp2XY

]]> http://bankur.com/gold-equity-has-peaked-and-gold-investment-is-dropping/feed/ 0 Government Efforts to Flog Financial Industry have Failed http://bankur.com/government-efforts-to-flog-financial-industry-have-failed/ http://bankur.com/government-efforts-to-flog-financial-industry-have-failed/#comments Fri, 17 Jul 2009 20:40:24 +0000 Banker http://bankur.com/?p=203 A number of major banking institutes, such as Citigroup, Bank of America, Goldman Sachs, and JPMorgan Chase have seen some strong profits lately, but it is primarily from the sale of various assets or through fees on investment-banking.

The banking industry is still being hit hard and is still struggling to survive, but some profits in the industry were an unexpected surprise, as everyone expected to see losses.

Citigroup has seen $4.3 billion in profits, but this included a pre-tax gain of $11 billion for the sale of its majority stake in the brokerage unit Smith Barney, which was sold to Morgan Stanley. Citigroup also had to set aside $12.68 billion to cover loan losses, and has had to cut 30,000 jobs this last quarter.

Bank of America has seen $3.2 billion in profits but made $5.3 billion in selling assets – particularly its stake in China Construction Bank. Chief Exectuvie Ken Lewis said, “difficult challenges lie ahead from continued weakness in the global economy, rising unemployment and deteriorating credit quality that will affect our performance for the rest of the year and into 2010.” Bank of America’s non-performing loans totaled $31 billion this year.

Both of these companies received more than $40 billion in bailout funds and guarantees on hundreds of billions if distressed assets. This money came with strings attached to place these banks under the supervision of the Troubled Asset Relief Program, which banks like Goldman Sachs and JPMorgan will not have to deal with.

Bank of America has already said they will need to pay back the $45 billion in TARP funds in installments as they won’t be allowed to do it all at once. The government had forced nine of the top U.S. banks to take these TARP funds even if they did not want them so that no bank was looked at as weaker than the others. However, banks like Goldman Sachs and JPMorgan have already repaid the TARP funds, which banks like Citigroup and Bank of America have been unable to do yet.

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