VirtualBank up to 4.60% APY Interest
VirtualBank recently released that their eMoney Market Account is now paying 4.60% APY. New accounts can get a $20 bonus. My Rate-Chaser Calculator may also come in handy.
By Jonathan Ping | Banking | 2/15/06, 10:29am
February 15th, 2006 at 11:57 am
wow… From 3.55 up to 4.6 in one move and it doesn’t appear to be a teaser rate either! I actually have an acct with them and it was sitting with just a couple hundred $ in there, but now they’ll probably get my ING money in April after the 4.75% teaser expires.
February 15th, 2006 at 1:44 pm
Just moved everything to HSBC, so I’ll let that simmer for awhile. Hopefully they won’t drop way back when the promo ends.
–nickel
February 15th, 2006 at 3:33 pm
They also raised their CD rates. The new APY of the 1-year CD is now 5.10%.
VB has done a good job at keeping the CD rates competitive even while they had seriously lagged in the MMA rate. That was the reason why I opened an eMoney Market account last year. You can easily fund a CD with money from the eMoney Market account. Only problem with their CDs is a high $10K deposit requirement.
February 15th, 2006 at 3:35 pm
I don’t beleive neither ING nor HSBC will decrease their rates after the promo period. FRS is likely to continue rising the rates, so are banks.
February 18th, 2006 at 10:33 am
Jonathan: I really enjoy your blog and I’ve taken up a lot of the offers you’ve mentioned. Before I open up this money market acct, do you have one so that you can get the referral bonus? If so, what should I enter?
February 18th, 2006 at 3:14 pm
Please see the ‘$20 Bonus’ link above for more details. Thanks!