GMAC Bank recently changed their name to Ally Bank, located at Ally.com. GMAC Bank is a subsidiary of GM, and it appears that this move is an attempt to distance itself from the bad press that GM has been receiving lately. GMACbank.com now points to Ally.com.

Ally Bank offers many of the same products as GMAC bank once did, including savings and money market accounts, and certificate of deposits. Here are the current rates for these products:

Current Ally Bank Rates

The AllyBank savings account features:

• APY yield
• No minimum balance
• No monthly fees
• Daily compounded interest
• Six withdrawals or transfers per billing cycle

For CDs, there are now very low minimum balance requirements, and apparently you can open a CD with $0. It seems to be more of a gimmick as it doesn’t really make sense to open a CD with less than $500. AllyBank has a few new CD rates, including a 6 month CD at APY. Their 1 year and 2 year CDs have pretty competitive rates, at APY and APY. Both of these are current as of 2/15/2010. They also have a new 9 month No-Penalty CD, which states:

“You can withdraw your money 6 days after funding – and anytime thereafter – and you won’t be charged a fee. Just remember, if you do make an early withdrawal it must be for the full balance plus all interest earned.”

This is a good bonus for those who want to earn a decent return on their CD but don’t want an easy out in case better rates are available. The no penalty CD currently has a yield of . Continue reading…

You can get 5% cashback on gas, airlines, auto rentals, and hotels this summer with the Chase Freedom rewards credit card.

The Chase Freedom card already gives you 5% cash back in popular categories that change every quarter, and 1% cashback on everything else. You can also get up to 20% cash back when you shop at select merchants through the Chase website.

The current active categories for 5% cashback include gas, airlines, auto rentals, and hotels. The 5% cashback on these categories is active through September 30, 2010.

I have been using the Chase freedom card for over 2 years now and have received over $500 in the form of rewards checks. It also has excellent fraud protection and no annual fee.

Visit their website today for more information.

If you already have a Chase Freedom card, you can enroll in 5% cashback here.

EverBank is offering a 3 month promotional rate at 2.51%, which is one of the highest money market rates currently available. This 3 month promo rate is only good for new customers and only applies to balances up to and including $50,000 in the Yield Pledge Money Market Account, and up to $100,000 in the FreeNet Checking Account.

You can actually get 6 months with the promotional % rate, by using the checking 3 month promotion and switching over to the money market promotion. Once the promotion is over, your account will revert back to the standard ongoing rates.

Yield Pledge Money Market Account Review

The Yield Pledge Money Market account has check writing privileges of up to 3 checks per month. You need $1,500 to open an account, and a $5000 minimum balance is required to avoid the monthly fee of $8.95.

This “top 5% yield pledge” also means the rate will always be in the top 5% rates of competitive banks. I’m not sure that means that much, but I guess it’s a minor guarantee that the rates wont plummet. Interest is compounded daily and credited monthly.

The money market account has a promotional 3 month bonus rate, and 2.00% after that.

• First 3 Months: 2.51% rate up to $50K, 1.64% portions of balance over $50K
• Second 9 Months: 1.64% rate on all balances
• Overall Average Rate (12 months): 1.98% rate, 1.77% APY

Only the initial promotional rate is guaranteed, the rest of the rates are subject to change. Visit the Yield Pledge page for more information.

FreeNet Checking Account Review

This FreeNet checking account allows for unlimited check writing, with a free first book of checks. There are no fees on this account unless you register for the optional Online Bill Pay. If you register for this service, there’s a 8.95/month fee if your average monthly balance falls below $5,000. In addition, you can get up to $6 in ATM fees reimbursed per month by maintaining the $5,000 balance.

You can apply for the account online and EverBank has a full online banking service. Interest is compounded daily and credited monthly.

The money market account has a promotional 3 month bonus rate, and 2.00% after that.

• First 3 Months: 2.51% rate up to $99,999, 1.73% portions of balance over $99,999
• Second 9 Months: 1.52% rate on all balances

Only the initial rate is guaranteed, the rest of the rates are subject to change. Visit the FreeNet Checking page for more information.

EverBank Overview

Everbank has a reputation for slower transfers, taking anywhere from 4-6 business days causing up to 2 days of lost interest. According to Everbank this is because of their Fraud prevention service. Everbank has ACH transfers as well as wire transfers; incoming wire transfers are free and outgoing ones cost $25.

EverBank’s online interface is easy to use and straightforward. EverBank is FDIC insured, and while it’s primarily an internet bank it is one of the largest. The bank has high safety ratings.

First Southern State Bank of Stevenson, AL has competitive certificate of deposit rates this week. The bank has a 13-month special CD rate of 1.6% annual percentage yield (APY). The 13-month CD requires a minimum opening balance of $1,000. Interest on the CD is paid monthly or at maturity. Other CD rates include:

• 1.15% APY for 6 months
• 1.51% APY for 1 year
• 1.6% APY for 18 months
• 1.81% APY for 2 years
• 2.27% APY for 3 years
• 2.52% APY for 4 years
• 2.73% APY for 5 years

The CD rates are current as of Aug 13, 2010. CDs require a minimum opening deposit of $500. Withdrawing funds early results in a penalty of one month of interest for CDs with terms of 12 months of less. The penalty is three months interest for CDs with terms greater than 12 months.

First Southern State Bank also has a regular checking account with no monthly fees as long as you maintain a minimum balance of $500. Balances that fall below $500 are charged a monthly fee of $6, and balances below $250 are charged $7. The minimum deposit to open the regular checking account is $50.

Now that the FDIC deposit insurance limit is permanently set to $250,000, you can now open jumbo long-term CDs without worrying that some of the amount will eventually become insured.. For those who prefer to stay under the standard limit, this gives you more choices. USAA Bank which has some very high long-term super jumbo rates. These are some of the best CD rates currently available online. You can find them at USAA Bank’s CD rates page and at the IRA CD rates page.

• 2.56% APY 3-year CD
• 2.81% APY 4-year CD
• 3.31% APY 5-year CD
• 3.86% APY 7-year CD

The super jumbo 15-month CD is also competitive with a 1.60% APY.

These rates require a minimum deposit of $175K. Lower rates are available for minimums of $1K and $95K.

There was a time that only those with military connection could open bank accounts at USAA, but this is no longer the case. People from any state can open CDs and other bank accounts online at usaa.com.

USAA Federal Savings Bank is headquartered in San Antonio, Texas.

Flagstar Direct is offering some pretty competitive nation wide 6 month and 12 month CD Rates. Flagstar CDs are FDIC insured and the rate will remain locked the entirety of the term.

Top Flagstar CD Rates:

• 6 Month – 1.25% apy – $500 Minimum Deposit
• 12 Month – 1.55% apy – $500 Minimum Deposit

Certain fees will be applied to your CD for withdrawing your funds early:

• 6 Months — A fee equal to 30 days of interest, whether the interest is earned or unearned.
• 12 Months — A fee equal to 180 days of interest, whether the interest is earned or unearned.

Other information on Flagstar CDs:

• No additional funds after opening may be deposited before maturity.
• You may withdraw interest any time during the term after the interest is credited to your account.
• Visit Flagstar CD Rates page here for more information.

Sallie Mae bank is currently offering some top CD rates and savings account rates via their online bank.

Sallie Mae CDs have the following features:

• No minimum balance
• No monthly charges
• No hidden fees
• FDIC insured

Current Sallie Mae CD rates as of 7/14/2010:

• 12 month CD – 1.50% APY
• 3 Year CD – 2.20% APY
• 5 Year CD – 3.00% APY

Sallie Mae’s online savings account features a 1.40% APY and is amongst the top savings rates available online. This account features:

• No Minimum Balance
• No Monthly Fees
• Daily Compounded Interest
• FDIC Insured

Both accounts can be opened online quickly and with minimal effort.

PNC Bank is currently running a $100 bank bonus. This offer is only available online to people who open a PNC checking account by July 31, 2010. The free checking account includes:

• No minimum balance required
• No monthly service charge
• Free online banking and bill pay
• Free PNC Bank Visa check card
• Free banking rewards program

The checking account also reimburses non-PNC Bank ATM fees if you have a minimum average monthly balance of at least $2,000.

To receive the bonus, you must you make a direct deposit into the account and make 10 direct purchases with the PNC Bank check card within 60 days of opening the account. Each direct deposit must be at least $400. Qualifying direct deposits do not include credit card cash advance transfers, transfers from one account to another, or deposits that are made at branches or ATMs.

PNC Bank also has other checking accounts that qualify for the $100 bonus offer, includingthe Virtual Wallet, Performance, and Performance Select.

To qualify for the $100 bonus you must be a new PNC customer and be a resident of Washington, DC, Delaware, Florida, Illinois, Indiana, Kentucky, Maryland, Michigan, Missouri, New Jersey, Ohio, Pennsylvania, Virginia, or Wisconsin. One bonus per household.

Chase’s current $125 checking bank bonus is currently active through 7/15/2010.

To get this bonus you must completely the following:

1. Visit the promotional page and get your promotion code. You must have a Chase account to see the page.
2. Print this page and take it to your local Chase Branch or apply online by July 15, 2010.
3. Open a Chase CheckingSM account and set up direct deposit.
4. Chase will deposit $125 into your new Chase CheckingSM account within 10 days of your initial direct deposit posting.

Some of the fine print and terms and conditions for this bank bonus:

To qualify for the bonus you must open a new Chase CheckingSM account with a $100 minimum opening deposit of new money (money not currently held by Chase or its affiliates). Also, within 60 calendar days of account opening, we must receive from your employer or the government a monthly electronic direct deposit of your payroll, pension or government benefits, such as Social Security. The bonus will be deposited into your new account within 10 business days after the initial direct deposit has posted to your account.

Limit one personal checking account-related bonus/premium per customer, per calendar year. Offer not available on account conversions or in combination with any other offer. Bonus is not considered part of the minimum opening balance. Checking account must remain open for a minimum of six months or the bonus will be debited from the account at closing. Account is subject to approval. bonus is considered interest and will be reported on IRS Form 1099-INT.

*UPDATE* The promotional page is no longer available. Please sign up to our free newsletter to get the latest bank deals delivered straight to your inbox.

Acacia Federal Savings Bank currently offers a tiered money market account that offers money market rates from .25% to 1.5% depending on your balance.

The rate on your account changes automatically as your balances change. The current Acacia bank money market rates are:

• 1.5% APY for balances of $125,000 and up
• 1.25% APY for $75,000 to $124,999
• 1% APY for $25,000 to $74,999
• 0.75% APY for $10,000 to $24,999
• 0.25% for balances up to $9,999

Acacia Federal Savings Bank (Acacia Federal) is a thrift institution which has been operating in the Washington DC Metro area since it opened in March 1985. It is a subsidiary of the Acacia Life Insurance Company.

The money market account features a minimum opening deposit of $1000, and a monthly minimum of $1000, or else a $10 monthly service charge will apply. There is no penalty for early withdrawal.

You can get unlimited withdrawals by mail or phone if you receive the funds as a check. If you write more than 3 checks during the month you will be charged a fee of $7. Inactive accounts are assessed a $5 fee per month.

One of the top Oklahoma CD rates can be found at Cleveland Bank in Cleveland, Oklahoma. Stop by the Cleveland Bank branch on North Broadway to open an account and secure their current offer for an attractive 1.50% APY 12 month CD rate.

Please be sure to note the following conditions that must be met in order to qualify for this rate:

• $10,000 minimum deposit
• APY assumes interest will remain on deposit until maturity
• Early withdrawal will reduce earnings
• Account will automatically renew at maturity

The Cleveland Bank was founded in 1901 as the Triangle Bank. It has since grown to include over $43 million in assets as of present. The bank is located in Cleveland, Oklahoma and offers 24-hour telephone and online banking as well.

Fidelity Homestead Savings Bank of New Orleans, LA, is advertising some of the top CD rates available. Fidelity Homestead offers both IRA and regular CDs.

The bank is also advertising their Plus certificates of deposit and an 18 month variable CD rate IRA certificate of deposit. The current 18 month variable IRA CD rate is 1.83 percent with an annual percentage yield (APY) of 1.85 percent. The minimum opening deposit for their CDs is $100.

Fidelity Homestead Plus CD Rates

• 3 Months CD Rate 1.15% APY
• 6 Months CD Rate 1.25% APY
• 1 Year CD Rate 1.75% APY
• 1 1/2 Year CD Rate 1.75% APY
• 2 Year CD Rate 1.90% APY
• 2 1/2 Year CD Rate 2.00% APY
• 3 Year CD Rate 2.50% APY
• 5 Year CD Rate 3.00% APY

For a list of updated CD and savings rates, visit Fidelity Homestead Savings Bank’s website.

Visit Chase’s bank bonus page to request a $100 coupon. The $100 bank checking bonus code will be emailed directly to your email address.

Print out the coupon and open a free checking account at a Chase near you to receive the $100 bonus. You can also open the account online, using the code mailed to you. The account has a $100 minimum deposit.

In order to qualify for the bonus, you must either set up a direct deposit (paycheck) or make 5 debit card purchases. The reward will be automatically be deposited directly into your account within 10 business days after meeting one of these requirements.

Limit one checking account related reward per customer per calendar year.

This bonus expires on 5/28/2010, so request your coupons now!

BB&T Bank is once again offering a $100 bank bonus. Their last bank promotion was very similar and expired on March 1, 2010. This new offer expires on 6/6/2010.

The promotional code for this offer is AFJAP. In order to receive the $100 bank bonus you must complete the following:

• Open a new BB&T checking account online or by phone
• Enroll in and receive 2 recurring direct deposits to the new checking account within 90 days
• OR, alternatively you can use BB&T’s online bill payment service to pay 3 bills from the new checking account within 60 days
• Only one of these needs to be completed to get the $100 bonus.

Once the requirements are met, the $100 bonus wlil be deposited directly into your new BB&T checking account.

BB&T’s checking account features no minimum balance or monthly fees, and a BB&T check card.

You must be a new BB&T client to get the bank bonus.

BB&T is FDIC insured. For more information on this bank deal, please visit the promotional offer page.

ING Direct has a $50 bank bonus for opening a new ING direct electric orange checking account.

In order to get the $50 bonus you have to complete the following:

• Click on ‘Apply Now.’ Be sure to enter your reference code during the account opening process.
• The promotional code for this offer is EM443.
• Activate your Electric Orange Debit MasterCard® and use it to make at least 3 signature-based purchases within 45 days of account opening.
• Your $50 bonus will automatically be deposited into your account on day 50.

You can find the promotional page here.

Capital One has a 5-year certificate of deposit with a 2.96% annual percentage yield (APY). Capital One CDs feature:

• Minimum deposit of $5,000
• No monthly fees
• Insured by the Federal Deposit Insurance Corp. (FDIC) up to $250,000
• Certificate of deposit renews automatically unless you notify the bank
• Early withdrawal penalty

Interest on Capital One certificates of deposit accrues daily, but can be paid out monthly, quarterly, semi-annually, or annually. When money is deposited for a CD interest begins accruing the day electronic funds are received and one business day after noncash deposits are received,

Other CD rates and terms at the bank include:

• 6 month CD – 0.25%
• 1 year CD – 0.5%
• 2 year CD – 1.25%
• 30 month CD – 0.75%
• 3 year CD – 1.9%
• 4 year CD – 2.5%
• 7 & 10 year CD – 3.25%

Capital One also offers Jumbo CDs, with the same rates but minimum deposit of $100,000. Certificate of deposits can be opened online or by phone.

Capital One CDs can be opened as individual, joint, or business accounts. Capital One Bank is FDIC insured.