Apple Bank for Savings with Grand Yield Direct interest rate at 1.60% APY
The Apple Bank for Savings still runs its Grand Yield Direct Savings which is an online high yield savings account. The interest rate is still competitive at 1.60% APY for all balances despite the down trend of the figure.
It only takes $1 to open the account and you can enjoy the full interest rate of the offer. Your initial deposit can be sent it through mail or by ACH. You can also open it as a joint account if you want to.
Earnings of this savings account are compounded on a monthly basis. The interest rates are done the same manner. The bank also does not impose any monthly service charges.
Apple Bank for Savings will send a statement of account every month if there is activity but it will be done quarterly if there are no activities.
The customer service rep was not quite too sure if the bank will do a hard credit pull during the application so it will be wise to confirm if you afraid of any dings to your credit score.
The bank does not collect any fees for regular ACH transfers but charges $10 if you want to expedite the transaction for completion on the next business day.
Applebank.com is listed with the FDIC and has current assets of around $7.6 billion and liabilities of around $7B. Bankrate.com issued 4 stars upon reviewing the bank’s performance.
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Comment by Ramiro Baites — August 5, 2010 @ 10:51 pm