Presidential Bank Premier Savings Account at 3.50% APY Interest
I forgot to post this earlier, but Presidential Bank, home of the 3.25% APY Interest Checking Account, is now offering a Premier Savings Account paying 3.5% APY interest (on balances below $35k). This beats out Emigrant Direct @ 3.25% and UFB Direct @ 3.30%.
Unfortunately, this is not the same type of “No fees, No minimums” savings account that ING Direct, VirtualBank, Emigrant Direct, etc. offer. You’ll need $5,000 to open and also maintain a $5,000 minimum balance to avoid a $7.50 monthly charge. Also, if you don’t already have a Presidential Bank checking account, they will pull a credit check on you.
However, as I already have a checking account with Presidential and I like their service, this account will be a great complement to it. I can deal with the $5k minimum at least for now. I can make transfers between accounts instantaneously, with a max of 6 withdrawals out of the savings account per month (common rule for all savings accounts). Look for a proper review of Presidential Bank coming up.
Find more in Deals & Offers | 6/5/05, 7:15pm | Trackback
July 19th, 2005 at 11:47 pm
I have accounts with Emigrant Direct, VirtualBank, and Capital One Savings. It seems that Presidential Bank offers interest rates a lil bit higher but Bankrate.com does not rate Presidential at all. How long have you had accounts with them? Have you has any problems with them?
July 20th, 2005 at 12:14 am
Please see my review here:
Presidential Bank Review
Short version: I like it
September 13th, 2005 at 7:44 pm
Sorry, but there are alot better places for $5000