October 19 CD Rate Update - Some Banks Increasing Rates

Article Submitted by: BestCash Admin
Savings - Checking - CDs


Happy Friday. On this day we have several banks who have increased their CD rates. Banks are looking for your money.

 

Submitted: Oct 19, 2007    Views: 311    Comments: 1    Likes: 4   


It's Friday!  And there's no better way to celebrate than to let you know that several banks have increased their rates.

Perhaps the biggest news is the aggressive increase by Amtrust Direct.  They raised the rate on their e-Savings account from 5.06% APY to 5.36%APY.  They now have the highest rate with the minimum required deposit amount - $1.

Several banks also raised their CD rates:

  • Umbrella Bank raised their 1 year CD from 5.00% APY to 5.15% APY.
  • E-Loan increased the rates on their 2 and 3 year CDs by 5 basis points.  A basis point is equivalent to .01%.  So if something increased by 5 basis points it went from 5.05% to 5.10%.
  • Corus Bank raised the rate on its 1 year CD and now has the second place on the rate table.

For more information on the best CD rates in the country, please visit the BestCashCow CD Rate tables. 

Have a nice weekend.




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Comments Received:

Marco
(Unregistered)

Do you have any experience with Amtrust? Do they charge for the incoming and outgoing money transfers?

Posted: Oct 19, 2007



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