bank rates

Good CD Rates And Gifts From iGObanking

Flushing Savings Bank in New York has caught our eye with oldest gimmick in the book — free gifts for opening an account.

Flushing Savings Bank in New York has caught our eye with oldest gimmick in the book -- free gifts for opening an account.

To qualify, you must buy a certificate of deposit from its iGObanking online bank, through a special GiftsforBanking.com Web site.

The best choices are 24-month CD at 1.90% APY or a 60-month CD at 3.15% APY, which are close enough to the best nationally available rates to be worth considering.

The array of gifts (including this nifty grill) is the best we’ve seen since Irwin National Bank gave away HDTVs last summer.

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Comments (3)
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3 Existing Comments
  1. Anu said:
    on March 30th at 04:13 pm

    They are giving Bose 3-2-1 system for 25K (min) 3 Year CD. Thats a good deal. The fine print says early withdrawal will incur substantial penalty including value of gift. Gift’s value plus handling & shipping charges are taxable and will be reported on 1099-INT form.

  2. S said:
    on March 31st at 09:39 am

    I wouldn’t recommend this. First, the interest rates went down since they started this program. I know the 2-year CD used to be at 2.15%. Second, you can buy these items at a cheaper discounted price on your own, instead of them giving it to you and taxing you at the higher retail price.

  3. DealMaven said:
    on April 28th at 09:28 am

    iGObanking has lowered the rates it pays on the CDs that you buy to get gifts. The 24-month CD pays 1.50% APY, down from 1.90% APY, and the 60-month pays 2.75%, down from 3.15%.

    But the gifts are still great!