Recent Bank Findings: Doral Bank Direct 3.50% APY, CNB Bank Direct 3.40% APY, Chesapeake Bank Clear Sky 3.15% APY

As online banks keep slashing rates, it’s getting harder and harder to find to find a decent rate from popular banks, whose rates are mostly in the mid-2% range now. To find a good rate, you will have to beyond those banks that we used most often.

Recently, I noticed a few such banks which are offering above 3% APY now. However, all these banks are not well known, so there isn’t much to talk about banking experience, just the rates.

Doral Bank Direct Savings Account 3.50% APY

Doral Bank Direct Savings now offers 3.50% APY for three months as long as the account balance is $1,000 or more. The daily account average also has to be at least $250 to  avoid monthly service fee ($5 per month for balance below $250). The account requires $1,000 minimum to open and allows up to 6 pre-authorized withdrawals per month, like most savings account. At Doral Bank Direct, interests compounded daily and credited monthly.

Other information about Doral Banks Direct:

  • Doral Bank Direct is a subsidiary of Doral Financial Corp. (NYSE: DRL), headquartered in New York and a member of FDIC since October 4, 1999 (FDIC certificate number 34905);
  • Bankrate.com Safe & Sound Rating ranks Doral Bank a full 5 stars (excellent);
  • Doral Bank Direct ABA routing number is 026073082.

While the 3.50% APY is quite good, it’s only guaranteed for three months, like a similar offer from EverBank Money Market account. Somehow I prefer a non-promotional rate, like the one from Dollar Savings Direct, even though there’s no guarantee for how long I can earn at that rate.

CNB Bank Direct 3.40% APY

CNB Bank Direct is a division of Citizens National Bank of Bluffton, OH. Right now CNB Bank Direct has 3.40% APY for its High Yield Savings Account. In addition to the rate, the best part of CNB Direct is there’s no account minimum ($1 to open an account and earn interest though) and no monthly charges. Up to 6 pre-authorized withdrawals per month is allowed.

Other information about CNB Bank Direct:

  • Citizens National Bank has been a member of FDIC since January 1, 1934 (FDIC certificate number 6531);
  • Bankrate.com Safe & Sound Rating rates Citizens National Bank 4 stars out of 5;
  • Citizens National Bank ABA routing number is 041212983.

Chesapeake Bank Clear Sky 3.15% APY

The Clear Sky Savings account is offered by Cheaspeake Bank of Kilmarnock, Virginia. Currently, the Clear Sky Savings account has an yield of 3.15% APY for a minimum of $1. The following are some additional information about Clear Sky:

  • Cheaspeake Bank has been a member of FDIC since January 1, 1934 (FDIC certificate number 6862);
  • Bankrate.com Safe & Sound Rating gives Cheaspeake Bank 4 stars out of 5;
  • Clear Sky routing number is 051403779.

In addition to the savings account, Clear Sky also has an interest checking account with 2.50% APY with $1 minimum, making it a pretty good combination with the savings account.

BTW, I have added these banks to the Online Savings & Checking Accounts list and will add them soon to the Best Online Savings Account Deals page.

This article was originally written or modified on . If you enjoyed reading this post, please consider subscribing to my full RSS feed. Or you can also choose to have free daily updates delivered right to your inbox.


Author Info

This post was written by Sun You can find out more about Sun and his activities on Facebook , or follow him on Twitter .

4 Responses to “Recent Bank Findings: Doral Bank Direct 3.50% APY, CNB Bank Direct 3.40% APY, Chesapeake Bank Clear Sky 3.15% APY”

  1. Mike |  Mar 03, 2009 at 3:35 pm

    If you have been experiencing the same difficulty as other users with this bank, I suggest promptly filing a complaint with the Office of Thrift Supervision. The complaint form can be found at:

    http://www.ots.treas.gov/?p=ConsumerComplaintsInquiries

    Select OTS Consumer Complaint Form