GiftsforBanking.com Offers Competitive CD Rates and Program

The online banking service - GiftsforBanking.com - is offering competitive rates and features as part of a new program.

The Flushing Savings Bank, or FSB, has an online division which is called iGObanking.com. This division of FSB is offering competitive CD rates and a CD gift program to customers beginning March 4. Here are some of the details of the new program and rates:

• Two-year CD with 2.05% APY
• Three-year CD with 2.49% APY
• Five-year CD with 3.15% APY


The minimum deposit to qualify for one of these competitive CD rates is $5,000. Your free gift will also be dependent on how much you deposit into the account. The five levels of deposit are $5,000, $10,000, $25,000, $50,000 and $100,000. Here are some other things you should know before making your deposit:

• The value of your gift will be reported on your 1099.
• If you withdraw the money from your CD early, you may also be penalized the value of the gift. Shipping fees and sales tax will also be included.
Some of the gifts include the following:

• For a five-year CD with $25,000, you will receive a 40” Sharp Aquos LCD HDTV
• For a five-year CD with a $50,000 deposit, you may receive a 52” HD Samsung TV
• For a five-year CD with $100,000 deposit, you may get a Canon LCD Multimedia Projector


Is the free gift worth making the deposit? If you do the math, you may find that it will pay off.

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