Posted by: Armel | February 29, 2008




For those living in the U.S, all the recent cuts by the Fed made it harder to earn anything meaningful on interest rates. Rates are getting lower everyday even on CDs and money market accounts. Those who tried to find better options to save their money know what I’m talking about here. On average, according to , you can only get around 4.25% on good money market accounts and 2.65% to 2.93% for 6 months and 5-year CDs. That’s really bad!

But thank God, there might be a few saviors after all. Some banks are still offering high (real high!) yields with “Reward Checking accounts”  paying 6% on deposits. There are a few strings (must have direct deposit at least once per month and must use debit card 10x per month, for example), but these demands are not extraordinary or unattainable if you ask me. Here are a few banks that do not require customers to visit a branch to open the account or to live in that particular state: State Bank of Toledo, Bank of Fayetteville, Southern Community Bank&Trust. It is something to look into. Also, for an extended list of banks, Community Banks, and Credit Unions offering 6% Interest rates along with the conditions or requirements, CLICK HERE..

Armel Njeunou


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