bank rates

Where To Find Interest Rate Guarantees

A number of banks are offering rate guarantees on checking and savings accounts.A number of banks have offered rate guarantees on deposit accounts lately.

These are good hedges against falling interest rates — at least temporarily — even if the yields are lower than the best nationally available deals.

I thought we’d review some of the available deals we’ve come across in recent months.

You should compare these with the top nationally available money market account and savings account from TIAA Direct, the online bank of financial services giant TIAA-CREF. It pays 1.25% APY.

  • Amboy Direct offers a 12-month rate guarantee on its eSavings account for new customers. It pays 1.00% APY on balances up to $25,000. Higher balances earn 0.75% APY, although that rate is subject to change. This deal is available to savers in all 50 states.
  • Capital One offers a 12-month rate guarantee on its High Yield Free Checking Account. It pays 1.00% APY on balances up to $100,000. You must live near one of its branches in Louisiana, Maryland, New Jersey, New York, Texas, Virginia or Washington, D.C., to take advantage of this rate.
  • EverBank offers a 6-month guarantee on its checking and money market accounts. It pays 1.05% APY on balances up to $50,000. This deal is available to savers nationwide.
  • Flagstar Bank offers a 4-month rate guarantee on its savings account. It pays 1.15% APY. Although this account is available to anyone, balance limits are set based on where you live. The rate the account reverts to after the guarantee expires also depends on where you live.
  • Salem Five Direct offers a rate guarantee through August on its eOne Savings account for new customers. It pays 1.00% APY on balances up to $500,000. This deal is available to anyone.

You can see how these rates stack up to the best money market and savings account rates offered by scores of banks in our database.

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