April 27, 2009
NewBank 6.50% APY 6 Months Installment Savings
NewBank, member of FDIC with 4 star rating, is offering very high rates on their short term and long term installment savings accounts.
The Vacation/Christmas Club account has a six-month (168 days) term with a yield of 6.50% APY. Contract amounts are $1000, $3000, and $5000.
The Education Club account has a fifteen-year term with a yield of 7.00% APY and a ten-year term with a yield of 6.50% APY.
Contract amounts are $10K, 25K, 50K, and 100K. Customers can open theses accounts for any purpose, not just for what the names of the accounts suggests. I was told customers are allowed to open as many accounts as they wanted. Accounts can only be opened in-branch with locations in Flushing, NY and Fort Lee, NJ.
146-01 Northern Boulevard
Flushing, NY 11354
718.353.9100
1475 Bergen Boulevard
Fort Lee, NJ 07024
201.585.BANK
800.207.2101
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