Banks-24

Complimentary Banking Newsletter Bank News Industry Insights & Info

1.00% APY Best money market rate with Citizens State Bank of Florida

Posted by Jesse Shand On Jan - 26 - 2019

Citizens State Bank is pushing for their money market account which has a very competitive interest rates. This money market deal is tiered and it has the following current interest rates:

  • 0.50% APY can be earned on balances of $2,500 to $14,999.99
  • 1.00% APY can be earned on balances of $15,000 and above

You can take advantage of this best money market rates opening an account. It requires a minimum deposit of $100 to open, but you need to maintain an average daily balance of $2,500 or more to earn interest. As what is shown above, the higher your deposit is the higher interest rate you can earn.

The interest of this money in the bank deal is compounded daily and paid monthly.

Holcomb State Bank CD Rates

Posted by Jesse Shand On Jan - 15 - 2019

Holcomb State Bank certificates of deposit are a safe way to store money and start a savings plan that can be used for short term goals on up to long term retirement planning.  The competitive interest rates offered the bank CDs ensure that the account holder’s money is working its hard.

The Holcomb State Bank certificates offer competitive CD rates with a variety of terms.  Each CD term has its own benefits.  Regardless of the term selected, the interest rate is guaranteed for the term of the deposit.  CD maturities are available in terms from 1 month to 5 years.  There is a $500.00 minimum deposit required to open a CD account and earn the disclosed Annual Percentage Yield (APY).
 
Interest is compounded semi-annually and the interest earned can be either compounded back into the CD or be paid to the account holder  monthly, quarterly, or semi-annually by direct deposit to a Holcomb State Bank checking or savings account.

The Annual Percentage Yields promoted by the bank assume the interest will remain on deposit in the account until maturity; any withdrawal of interest will reduce earnings.  A penalty may be imposed for early withdrawal of the principal from the accounts.  The CDs are set up with automatic renewal with 10 day grace period after maturity date.  Holcomb State Bank is an FDIC insured institution with all CD accounts covered by FDIC insurance up to $250,000 per account holder.

The CD interest rates on the Holcomb State Bank CD accounts are based on market conditions that may change frequently.   The CD interest rates and annual percentage yields earned on the account are determined by the date the account is opened and the term selected.

More information on the bank CD rates and the account terms and conditions can be obtained by calling the Holcomb State Bank main branch at 815-393-4413.

Holcomb State Bank has four locations in North Central Illinois.  Along with a number of certificates of deposit options, the bank offers a broad range of deposit instruments and savings tools through four bank branches ion Holcomb, Rochelle, New Milford and Creston. 

The bank CD account information presented is believed to be reliable, but may have changed since this publication date, the information is not guaranteed.  Contact the bank directly for the most update and accurate information regarding the bank rates and account information.

Additional resources to help consumers find the best CD rates in the region are available at Illinois CD rates.

1.10% APY Best money market rates with Live Oak Bank

Posted by Jesse Shand On Jan - 30 - 2019

Live Oak Bank is currently offering an attractive interest rate for their money market account. This money in the bank deal requires you to deposit a minimum of $5,000 to open an account. You must maintain the daily average balance to earn the following money market rates:

  • 1.00% APY is earned on balances of $0 to $24,999.99
  • 1.10% APY is earned on balances of $25,000 to $99,999.99
  • 1.25% APY is earned on balances of $100,000 to $248,999.99
  • 1.35% APY is earned on balances of $249,000 to $4,999,999.99

The earnings of these money market deals are compounded and paid monthly. Interest earned are automatically deposited on your account unless account holder request to have it transferred to their other account.

Top 10 Least Safe States to Bank

Posted by Jesse Shand On Jan - 25 - 2019

Bank failures can be messy for depositors. The bank can be closed over several days, a great rate can be lost, and a depositor can wind up at a bank they never selected. Last week we took a look at the safest states to bank according to the Texas ratio, a widely used number that correlates well with bank failures. Now, we’ll look at the ten states with the least safe banks. The idea is not panic anyone. Even the least safe states have strong insitutions that will not fail. And while everyone should know some basic health stats on where the park their money, this is especially true for depistors in states with banks that are stressed.

To determine our list of least safe states, we generated the average Texas ratio for each state. The Texas ratio measures the amount of capital and reserves a bank has to cover loans gone bad. I

1.00% APY Best money market rate with Acacia Federal Savings Bank

Posted by Jesse Shand On Jan - 20 - 2019

Acacia Federal Savings Bank continues to provide attractive interest rates for their money market account. It is a tiered money market which has the following current interest rates:

  • 0.25% APY is earned for balances of $0 to $9,999
  • 0.50% APY is earned for balances of $10,000 to $24,999
  • 1.00% APY is earned for balances of $25,000 and above

You can take advantage of these best money market rates when you make an initial deposit of $1,000 to open an account.