Bankur.com - Personal Finance and Investing Advice » Certificate of Deposits Investments 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 Investing in a Recession – Top Certificate of Deposit Rates http://bankur.com/investing-in-a-recession-certificate-of-deposit/ http://bankur.com/investing-in-a-recession-certificate-of-deposit/#comments Tue, 14 Apr 2009 00:09:41 +0000 Banker http://bankur.com/?p=179 The top investment right now during our economic downturn has been an old classic, the Certificate of Deposit. A Certificate of Deposit is also known as a CD, and is one of the most popular and common private investments. Individuals who are seeking a safe investment often turn to a Certificate of Deposit, or Certificate of Deposits for their security. A Certificate of Deposit can vary in range, lower investment Certificate of Deposits are valued as low as $1,000, while there are higher Certificate of Deposits valued as high as $100,000. The higher amount invested in a single Certificate of Deposit the higher the interest rate return the investor will receive.

What makes Certificate of Deposits so secure is that they are FDIC insured up to $100,000.

Some great 36 month Certificate of Deposit Rates

The GMAC Bank is currently offering a 3.20% APY with only a $500 minimum investment

Balance Rate APY
$0 – $499.99 2.23% 2.25%
$500 – $4999.99 2.23% 2.25%
$5000 or more 2.23% 2.25%

Discover Bank is also offering an amazing 36 month Certificate of Deposit rate

3.10% with a minimum investment of $2500

Discover Bank National Average
Term Interest Rate APY2 APY3
3 Months 1.25% 1.25% 0.67%
6 Months 1.74% 1.75% 0.94%
9 Months 1.89% 1.90% 1.03%
12 Months 2.33% 2.35% 1.22%
18 Months 2.33% 2.35% 1.25%
24 Months 2.72% 2.75% 1.35%
30 Months 2.72% 2.75% 1.29%
3 Years 3.06% 3.10% 1.54%
4 Years 3.20% 3.25% 1.79%
5 Years 3.54% 3.60% 2.06%
7 Years 3.64% 3.70% 1.99%
10 Years 3.93% 4.00% 1.98%



]]> http://bankur.com/investing-in-a-recession-certificate-of-deposit/feed/ 0 Certificate of Deposit http://bankur.com/certificate-of-deposit/ http://bankur.com/certificate-of-deposit/#comments Thu, 12 Mar 2009 05:15:26 +0000 Banker http://bankur.com/?p=95 Certificate of deposit is immune to financial crisis?

The financial crisis of the year 2007 – 2009 is also referred to as ‘credit crisis’ and the reason for financial crisis has been the loss of confidence of the investors in securitized mortgages. America’s housing collapse is one of the reasons linked to credit crisis of the decade but the financial organizations are unable to control the intricate financial contracts and operations and many investors are searching for investments options with low risk investments.

One of the preferred investment alternatives is’ certificate of deposit’ because CDs are considered to be more secured than a stocks, mutual funds or private equity investments and in CDs you can get back your money in cash. CDs investments are offered by banks and brokers. CDs have Federal Deposit worth up to a limit of $100,000.

The best part of CDs is that the investors get return on fixed amounts till maturity. Many varieties of CDs are available in market like long term CDs, high yield CDs and variable rate CDs. CDs also come with a ‘call’ feature in which banks can terminate a CD after a certain time in certain situation like when the interest rate falls but the investors can not terminate a CD and when a high rate is given in market, the CDs are locked for a fixed low rate.

Many brokerage firms and banks offer different types of CDs and some investors also make independent sale of CDs. The companies that make an independent sale of CDs is called ‘deposit broker’ and these companies or individuals, negotiate a interest rate with a bank in return of high deposits to the bank.

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