1.50% APY Savings interest rates with the Palladian PrivateBank
Palladian PrivateBank is still pushing for their high yield savings account that earns 1.50% APY. The current interest rate is a bit lower than the previous months but remains to be very competitive. The savings account requires an initial deposit of $10,000. The interest rate is listed on the bank’s website as of June 1, 2010.
The information about the high interest savings account is not very detailed but you can call the bank through 877.564.8880 if you want to know more about their products and services.
We were able to speak with the customer service and we were given the following details about the savings account:
• Requires a minimum of $10K balance to earn interest
• Account holders can initiate transfers from other banks
• There is no ACH to facilitate bank to bank transfer
• You don’t have to worry about monthly fees
Palladian operates as the online division of The PrivateBank and Trust Company. Both make use of the ibanking-services.com for their online applications.
The PrivateBank and Trust Company forms part of the PrivateBancorp Inc. They operate 34 offices spread across 10 states service areas like Denver, Cleveland, Chicago, and Atlanta.
The financial ratings of the bank are a bit weak with 2 stars given by Bankrate.com for soundness and safety while BauerFinancial stamped its performance report with 3 ½ stars. These are based on their September 2009 collected data.
The bank is covered by the FDIC with certificate number 33306. They have been listed with the FDIC since 1991.
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