Interest National 2.60% Savings Account

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.

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.

CNB Bank Direct 2.08% Savings Account

CNB Bank Direct 2.08% Savings Account

While it is true that very few will shell out 2.80 percent on savings and money market accounts, that it’s exactly how much a person can earn with CNB Bank Direct? To learn more about this, here are some subheadings you must read.

What is Citizens National Bank (CNB) Bank Direct?

CNB Bank Direct is the online division of Citizens National Bank of Bluffton in Ohio. CNB was founded in 1920 and it has expanded its assets to a whopping $ 481 million. Currently, it has seven branches in the Northeast Ohio, namely: Bluffton, Elida, Lima, Van Wert, Findlay, Celina, and Springfield. Its Federal Deposit Insurance Corporation (FDIC) number is 6531.
Standing of Citizens National Bank

If you will ask about the ratings of CNB, you will definitely be surprised. It has received four out of five stars in Bankrate’s “Safe & Sound” ratings system. Not only that. The same ratings were given by Bauer Financial. That only means that CNB is a bank which provides safety for your money.

How to Apply Online

The application process for CNB Bank Direct is so easy. First, you have to visit the bank and submit an application. Then you will receive a welcome email that informs you of how to finish the account opening process. Funding for the account is done electronically. You simply have to attach it to a primary checking account at another bank, then do fund transfers via Automatic Clearing House (ACH). This normally takes between one to two days. After this, they will verify your account via two test deposits. They will also be inquisitive about your credit, so be aware about this. This is a regular thing for a bank to do when someone opens an account.

The minimal balance should be a dollar, and there are no fees required. Every month, you can make up to six withdrawals, but the deposit is unlimited.

What About the 2.08% APY

APY stands for annual percentage yield. This is the annual rate of interest that you get out of your deposits or investments. It is also analogous to APR’s or annual percentage rates which are applied in loans. Simply put, annual percentage yield is the amount paid to a depositor by the financial institution he caters.

With Citizens National Bank, you get 2.08% annual percentage yield. That is over six times the national average for savings accounts. That’s also even better than 12-month CD rates or certificate of deposit rates which have now dropped to 1.06% and compared to money market accounts today. And take note that this 2.08% APY is available to every investor across the whole country.

So for instance you have a hundred dollars on your account. After a year, it becomes $102.08 already. But what if you’ve got a bigger savings like a million dollars? You are going to get $ 20,800 APY after a year. That’s a total of $ 1,020,800 on your savings account! Where else would you find that? Of course, only in CNB Bank Direct.

Up to a Very High 2.50% APY Offered by the Best Savings Accounts

Up to a Very High 2.50% APY Offered by the Best Savings Accounts

If you are familiar with the interest rates given by hundreds of online banks and other regular banks, you will know that the money you will put in any of their best savings accounts will be the most lucrative this month. This is because their APYs are one of the most high-yielding, with an annual percentage yield of up to a very high 2.50%. Below are the top three of the best banks with the best

APYs:
• Bank of the Internet USA – it is currently ranking number one due to its offer in its Advantage Savings of 2.50% annual percentage yield (APY) on a minimum deposit of as low as a mere $100.
• Tennessee Commerce Bank – Previously on the top spot, it was now surpassed by the 2.50% APY offer of Bank of the Internet USA. Its offer is still at 2.30% APY for the minimum deposit of $250.
• Goldwater Bank – It is a close third with a 2.03% annual percentage yield for its savings accounts which has a minimum of $1,500 deposit.

To get a better appreciation of these offers and rates, you may want to compare them with the other deals and rates being offered by the hundreds of banks in our long list of bank resources and database.

It is saddening to note, although the rates they are offering are far reaching and found nationwide, that it has to be these small banks which can offer the best rates to depositors all over the country. This is just a sign that many bank today has place not much importance on the savings account depositors. These customers are not very much appreciated at present. In fact, there are a lot of banks today which offer very low rates to depositors. Ironically, most of these are the big banks. Some of them are offering a very low 0.10% to 0.25% APY. Chase Bank is at the bottom of the desirables with a measly 0.01% APY given to its savings account depositors as well as its money market accounts. Hopefully, no other banks will match, or worse, beat the rate offered by Chase.

For additional information, the Bank of Internet USA operates online and is based in San Diego, USA. The 2.50% APY is earned on the Advantage savings account. Your money with them is FDIC insured. Aside from the high APY, the bank also offers to depositors a no minimum balance, no maintenance fee requirement. Moreover, the interest rate of your account compounds daily. As an additional perk, you may have a free ATM card if you make 3 payments of bills to a 3rd party or to yourself in a period of one month.

On the other hand, Tennessee Commerce only has one branch based on Franklin, Tennessee. However, it can accept out of state deposits and even allows the opening of accounts online. It however requires a minimum deposit of $2,500. We include Tennessee Commerce in our best of the best with no negative comments given about it.

Lastly, Goldwater Bank has also just one branch located in Scottsdale, Arizona.

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