7.01% APR Yield

[tripods68]

Ok...we where driving to Bodega Bay (Northern Cal) for the weekend mini-vacation Friday morning. When we got to Petaluma we saw a big sign that say, 7% yield cd/checking. We were driving too fast north 101 couldn't read bank's name. Do you have any idea?

[bjl584]

If it's legit, it's probably some teaser promotion whereby you get that interest rate for the first 90 days if you meet certain qualifications. It may be worth looking into further. But, I can't help you as to what bank it is or anything like that. The best I've seen out there these days are CDs paying around 4%. If you want to be a little more risky, Pfizer's current dividend yield on their common stock is around 7%.

[noppenbd]

There are a number of banks offering "rewards checking", where they pay upwards of 5-6% if you do 10+ debit card transactions a month. You usually have to have at least one ACH withdrawal or deposit a month, and access your account and statements online.

Check out this list:
Bank Reward Programs for online checking accounts updated daily by Money-Rates.com

You usually have to go into a branch to apply, but some will let you apply online. Try this site too, which has online applications:

https://www.checkingfinder.com

[simple987]

I got a 12 month CD with an interest rate of 12% at a local credit union a few weeks ago. The min/max was $1200.

[kork13]

I got a 12 month CD with an interest rate of 12% at a local credit union a few weeks ago. The min/max was $1200.

That's BANK! Although, it's almost frightening.... were it me, I'd worry about what makes them so desperate for stable cash as to offer such an astronomical rate right now.... (not to say that I wouldn't take it... FDIC/NCUA are good for something still, so that's a sick deal)

[disneysteve]

Sometimes when banks are in need of quick cash, they'll run a promo like that, usually for a short term and with a small maximum investment. I've seen them for $500 max for 3 months with a well-above-average rate. I don't bother with them because it isn't that much interest on such a small amount of money. They know that most people will just roll over the money when the CD matures even if the rate is much lower at that time.

[simple987]

since the CD is only $1200, its like getting a $100 bonus as compared to investing that money at 4% or less.

[tripods68]

since the CD is only $1200, its like getting a $100 bonus as compared to investing that money at 4% or less.

Link please?

[simple987]

sorry no link, it was at a local credit union and was only offered the week before xmas.

[Gruntina]

Patelco Credit Union (CA) is offering 7% CD 1 year(one time only) rate for new members. According to the rules only $1000 min and max can be put in.

[hmd2009]

Patelco Credit Union (CA) is offering 7% CD 1 year(one time only) rate for new members. According to the rules only $1000 min and max can be put in.

So what would that yield? Dumb question, I know, but I'm still figuring this all out.

By the by, Dollar Savings Direct (Offshoot of Emigrant Direct) has a 4.0%APY on their savings accout, minimum 1k to open. I recently switched my 13k from ING to them.

[Aleta]

Patelco has a NR by Bankrate.com so that is key to knowing who to invest in.

[amarowsky]

GE is offering a 7.3 dividend for common stock.

GE: Summary for GEN ELECTRIC CO - Yahoo! Finance

I bet you could get even better dividend on a preferred. I been thinking about selling my cisco and putting it into GE. That is just such a good dividend even for common stock, and GE is such a solid and innovative company.