Best Money Rates

Geauga Savings Bank is offering high interest rates on both their money market and savings accounts. Their savings account has a 5.40% APY, and their money market rate is a high 5.25% APY.

The 5.40% APY for savings applies to deposit levels between $25,000 and $99,000. The money market account’s 5.25% APY return requires between $25,000 and $99,000.

In order to sign up and get these great rates, you need to print out a form and fax it in. Unlimited access for over-the-counter transactions. There is a maximum of 6 pre-authorized debits per month.  Transactions in excess will incur an $8.00 per item charge. There is no early closeout penalty.

Bank Of America’s High Yield CD has an 8 month term and a 5.10% APY. $5000 is required to open the certificate of deposit, and it is only available online.

Bank of America also offers a 4.70% APY return on their regular CD. Similar requirements apply. Up to $500,000 can be invested in their risk free CD.

As a brick and mortar bank, BofA has traditionally lagged behind other online bankers such as Emigrant Direct and ING Direct. They are starting to offer higher CD rates, but the best rates are still offered by smaller banks as incentive to join their bank.

HSBC Direct’s new Online Payment Account is a paperless checking account that offers instant transfers to and from their Online Savings Account and pays a yield of 2.50% apy. The account features no monthly fees, unlimited transactions, and up to three non-HSBC ATM transactions per month.