bank rates

Detroit Deal: 1.51% Savings Account Rate

Detroit Metropolitan Credit Union offers this deal with a $10 minimum depositLeave it to the Motor City to have a savings account offer that leaves most of the competition in the dust.

At Detroit Metropolitan Credit Union, you can earn 1.51% APY on your savings account, which beats the best nationally available deal by more than a quarter of a percentage point.

You must deposit and maintain a minimum balance of $10 to earn the 1.51% APY.

Detroit Metropolitan Credit Union (www.dmcu.com) was originally designed to serve anyone employed by the City of Detroit and their family members.

But in 2009, the credit union changed its guidelines, allowing any who lives, works or attends school in Wayne, Oakland or Macomb counties to join.

Salem Five Direct owns the best nationally available deal at 1.25%.

The online division of Massachusetts-based Salem Five Bank offers something unique — a guarantee rates won’t decline through April 1, 2012.

But its deal is only good until next week. It expires Wednesday.

To earn the top rate you must open your account online, with a $100 minimum deposit. The rate is good for balances up to $1 million.

Compare these deals with the top money market and savings account rates in our extensive database.

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  1. Kathy at Bankaholic said:
    on June 24th at 08:49 am

    Detroit Metropolitan Credit Union’s rate is still available. Salem Five Direct’s offer has expired; it’s now paying 1.00% APY,