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IRA Contributions Are Up; Are Yours?

Poll QuestionFinally, some good retirement savings news to share.

Average IRA contributions increased during the 2013 tax year, according to a new Fidelity Investments study that analyzed more than 7 million individual retirement accounts.

The average contribution for tax year 2013 was $4,150 — an increase of 5.7% from 2012. That’s an all-time high. Click here to read more

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Slight Movement In 6-Month CD Rates

In the last month, one of the top nationally available 6-month CD offers increased.

Unfortunately it wasn’t the rate leader, which means we’re still waiting for this term to show some life.

The top 6-month offer on our CD Rates Leaderboard paid 0.90% APY at the beginning of the year, but fell to 0.87% APY in early April.

And it hasn’t budged since. Click here to read more

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6 votes, average: 4.17 out of 56 votes, average: 4.17 out of 56 votes, average: 4.17 out of 56 votes, average: 4.17 out of 56 votes, average: 4.17 out of 5 (6 votes, average: 4.17 out of 5)
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We Love This Alabama Checking Account

We really like the rewards checking account from New Horizons Credit Union in Mobile, Ala.

The Ultimate Checking rewards account pays 2.02% APY for balances up to $25,000. That’s not the highest rate we’ve seen, but the top yield isn’t why we like this account so much.

We like this account because of what happens after you hit that $25,000 cap. Click here to read more

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Highest CD Rates Roundup For July 25

Bringing you the very best CD rates from credit unions and local banks.In two weeks, EverBank has gone from offering the top nationally available 1-year CD to no longer rating a mention on our list of the best 12-month CD rates.

This Florida-based, primarily online bank last week cut its rate from 1.10% APY to 1.01% APY. Today, EverBank pushed its offer all the way down to 0.86% APY. Truly terrible.

We saw another cut in 12-month CDs this week when the online bank VirtualBank trimmed its offer from 1.07% APY to 1.01% APY. VirtualBank, a division of Sabadell United Bank in Florida, also knocked off a tenth of a percentage point on its 24-month CD, from 1.26% APY to 1.16% APY.

It had been offering the best nationally available deal in that term.

But not all the news is bad. Click here to read more

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3 votes, average: 4.67 out of 53 votes, average: 4.67 out of 53 votes, average: 4.67 out of 53 votes, average: 4.67 out of 53 votes, average: 4.67 out of 5 (3 votes, average: 4.67 out of 5)
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Promo CD Rates Aren’t Thrilling Savers

$20 bill folded in halfSavers continue to withdraw CD deposits from banks and thrifts, despite a momentary pause we reported last month.

Interest rates just aren’t good enough for most folks to lock in their money for any extended period of time.

Recent research suggests even when banks try to gin up interest with higher yields, they fail to attract many buyers. Click here to read more

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Synchrony Bank 15-Month CD Pays 1.2%

Hand grabbing money out of a jarSynchrony Bank’s latest deal on 15-month CD rates further proves that last month’s renaming of GE Capital Retail Bank was nothing to worry about.

It pays 1.20% APY with a $2,000 minimum deposit.

The top nationally available 12-month offer on our CD Rates Leaderboard is 1.10% APY.

Synchrony Bank owns that rate, too. Click here to read more

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3 votes, average: 5.00 out of 53 votes, average: 5.00 out of 53 votes, average: 5.00 out of 53 votes, average: 5.00 out of 53 votes, average: 5.00 out of 5 (3 votes, average: 5.00 out of 5)
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Where Are The CD Renewal Deals?

Recently, I posted about CIT Bank’s special rate deals for customers renewing maturing CDs for longer terms.

Unfortunately, I’ve found no other institution willing to follow CIT’s lead.

Back in 2011, I opened promotional CDs at several banks, including 1st Source, Rabobank and Airbanking.com. Click here to read more

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Pennsylvania Deal: 2-Year CD Pays 1.50%

pennsylvania quarterService 1st Federal Credit Union has special 24-month CD rates for its 22,000 members in central and northeastern Pennsylvania.

It pays 1.50% APY with a $500 minimum deposit of new money — funds not already on deposit at the credit union.

The top nationally available 24-month offer on our CD Rates Leaderboard pays nearly a quarter of a percentage point less. Click here to read more

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Top 5-Year ARM Available In 49 States

mortgage rate chartWe’ve brought mortgage deals bank to Bankaholic. And our pick for this month’s adjustable rate mortgage offer is certainly worth a look.

AimLoan charges an initial 2.625% on a 5-year, adjustable-rate mortgage for purchase or refinance.

This deal comes with no points and around $1,722 in fees (fees vary by state and scenario).

That’s nearly three-fourths of a percentage point less than the national average of these kinds of loans — 3.33%. Click here to read more

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3 votes, average: 4.67 out of 53 votes, average: 4.67 out of 53 votes, average: 4.67 out of 53 votes, average: 4.67 out of 53 votes, average: 4.67 out of 5 (3 votes, average: 4.67 out of 5)
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