Bank Deal: Flagstar 5.30% Money Market

According to September issue of Kiplinger’s Personal Finance magazine, Flagstar Bank, is currently offering a promotion rate of $5.30% APY for their Express Money Market account. The account has a minimum of $1 to open and no limit to earn interest. It also offers check writing ability for up to three checks per statement cycle. The usual rate of the Express Money Market account is from 4.24% to 4.85% APY.

Separately, according to FatWallet via BankDeals, Umbrella Bank is having a 90-day promotion for their Green Day Savings account. During the promotion period, deposits will earn an introduction rate of 6.00%. When the promotion ends, the rate could change back to the usual rates between 4.68% to 5.06% APY. The account requires a $100 minimum, which has to be maintained to avoid the $7 monthly fee.

Right now I have all my deposit at FNBO Direct which has its own 6.00% APY promotion till September 28th. I could use the Umbrella promotion if they would offer a longer period than 90 days.

Update:  Check out the latest online savings and checking account interest rates from major banks for the best deals available.

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