Banks for You!

Valdosta Teachers’ Federal Credit Union continues to provide competitive interest rate for their money market account. This money market deal is tiered and has the following current interest rates:

• $1,000 to $2,499.99 will earn an interest rate of 0.25% APY
• $2,500 to $9,999.99 will earn an interest rate of 0.50% APY
• $10,000 to $24,999.99 will earn an interest rate of 0.75% APY
• $25,000 or more will earn an interest rate of 1.00% APY

You can start earning these best money market rates when you deposit a minimum of $1,000 to open an account. You must also maintain an average daily balance of $1,000 or more to earn this best interest rates. The dividends earned on you money market account are compounded and credit every month. The earnings of this account may change anytime without prior notice.

This money in the bank deal allows you to make no more than 6 withdrawals or transfers from your account to another account or to a third party in any month bu means of internet or automatically transfers, preauthorized transfers, telephone order or instruction, or by draft, check, debit card, or similar order. I

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The City National Bank of Metropolis is, natually enough, headquartered in Metropolis, IL, at the bottom of the state near the Tennessee border. The bank operates two branches in Metropolis, one at 2070 East 5th Street and the other at 423 Ferry Street.

From a safety and stability standpoint, the bank’s numbers look good. Its Texas Ratio is 7.92% versus the national average of 19.96%. A lower Texas Ratio generally means that the bank is more stable and has assets in reserve to absorb any bad loans. Texas Ratios above 100% are warning signs of bank distress. The bank also looks to be well run, with a Return on Equity of 13.26% versus the national average of 6.78%. Bank assets have almost doubled since 2006, growing from $190 million to $343 million in 2011.

If you don’t live near Metropolis, IL don’t despair. In our database, I found 33 banks offering 1% APY or higher on a money market account. The average money market yield according to our database of millions of rates is 0.22%. With five minutes of research you can find a much better rate in your neighborhood or online.

Find the best money market rates in your local area.

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Interest rates in Britain could stay at their emergency level of 0.5% for a further three years, one of the UK’s leading economic consultancies said on Wednesday.

On the eve of the third anniversary of the Bank of England’s decision to cut the cost of borrowing to the lowest level since it was founded in 1694, Capital Economics said the days of ultra-cheap money were here to stay.

“We think they (official interest rates) could stay at this level for another three years,” said Vicky Redwood, the consultancy’s chief UK economist.

The Bank’s nine-strong monetary policy committee began a two-day meeting on Wednesday and is forecast to leave policy unchanged when it announces its decision on noon on Thursday.

Financial markets currently do not expect Threadneedle Street to raise bank rate until the end of 2013, but Redwood said even this could be premature given the slow pace of the UK’s economic recovery.

When the Bank cut interest rates to 0.5% in March 2009 the expectation in the City was that the move would be short-lived, with borrowing costs back on the rise by early 2010 and reaching 3% by 2012. Redwood said: “In contrast, we never predicted a rate rise over this period and said that rates could conceivably stay at their rock-bottom levels for five years.

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The iGobanking CD rates are another of the new banks being listed by Highest CD Rates. This is the online bank of Flushing Savings Bank based out of Houston, Texas.

The current CD rates include the 3 month CD that is earning an APY of 0.15%. The 6 month CD is earning an APY of 0.15%.

The 8 month CD is earning an APY of0.15%. The 9 month CD is earning an APY of 0.15%.The 1 year CD is earning an APY of 0.15%.

The 13month CD is earning an APY of 0.15%. The 15 month CD is earning an APY of 0.15%. The 18 month CD is earning an APY of 0.15%.

The 2 year CD is earning an APY of 0.50%. The 29month CD is earning an APY of 0.60%. The 3 year CD is earning an APY of 0.70%.

The 4 year CD is earning an APY of 0.90%. The 5 year CD is earning an APY of 1.10%. The 7 year CD is earning an APY of 1.70%.

The best CD rates are from the 10 year CD that is earning an APY of 1.80%.

To obtain the stated iGobanking certificate of deposit rates, you must place a minimum deposit of $1,000 with the bank.

iGobanking also offers IRA CDs. They are the same rates as stated above and are available in terms from 3 months to 5 years. The minimum deposit for these IRA CDs is also $1,000.

The iGo CD rates were posted on January 30, 2012 but are still good in the month of February.

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Fulton Bank is offering a free Amazon Kindle Fire when you open a checking account, activate a direct deposit, and make 3 online bill payments, valid through March 31, 2012.

Fulton Bank has locations in Delaware, Pennsylvania, Virginia, Maryland, and New Jersey.

For a limited time, you can receive an Amazon Kindle Fire when you open a checking account with Fulton Bank, activate a direct deposit, and make 3 online bill payments.

Here’s How To Get Your Free Kindle Fire:

1. Open a Checking account.

2. Sign up for Direct Deposit.

3. Sign up for Online Banking with Bill Pay.

4. L

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