Colorado Federal Savings Bank offer online high yield savings account at 1.70% APY
Colorado Federal Savings Bank offers a high interest savings account that has a current interest rate of 1.70% APY. This money in the bank deal can be opened with an initial deposit of $2,500.
Interest consumers can take advantage of this best savings account online by clicking the application button on the bank’s website. Like other savings account and money market accounts, this one limits take out to six per month.
According to the disclosure page of the savings account, the bank does not collect any online account fees and monthly service charges. The bank collects $25 fee for every transaction if you exceed the monthly withdrawal limits.
The bank also provides an ACH service to transfer funds to and from your account. Another attractive feature of this savings is that they do not charge for any ACH transfers.
The interest rate that we got from the website has a posting date of October 2. Please check the website or call the bank to find out about the latest figures.
Colorado Federal Savings Bank is headquartered in Greenwood Village, Colorado. For inquiries about their products, you can call 877-484-2372 or 303-793-3555.
Bankrate.com rates the bank’s performance with 4 stars. This was based on their June 2009 data. Deposits with the bank are covered by the FDIC.
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I opened an online savings account with them, with the minimum opening deposit of $2500. Later, when my balance fell to a low level, they just closed the account and pocketed the balance, including interest accrued but not yet paid. There was nothing in the rules about maintaining the $2500 minimum; you just needed it to open the account. When I contacted their customer service they were extremely nasty about it, and on my request sent me a copy of the rules (which I already had) with an irrelevant provision circled as though they thought I was too stupid to understand English. I didn’t pursue this because it was a fairly small sum that they stole, but I have a large CD with them that I opened at the same time and can’t wait to snatch it out of there on maturity. I do not (knowingly) do business with thieves.
Comment by CFSB Customer — June 24, 2010 @ 4:23 pm