Comments on: Recent Bank Findings: Redneck Bank 3.10% APY and Danvers Bank 3.00% APY

By: Brian D

Brian D — Wed, 10 Jun 2009 19:36:14 +0000

Rates for money market accounts and CDs have dropped dramatically over the past 6 months. The above rates are no longer valid. Rates on short term CDs and money markets seem to currently top out at about 2%. If a bank is offering a much higher rate there is usually much small print. Do your research carefully.

By: Provident NJ Direct 3.25% APY And Bank of America Fork 2.20% APY [Bank Reviews]

Provident NJ Direct 3.25% APY And Bank of America Fork 2.20% APY [Bank Reviews] — Tue, 12 May 2009 15:10:03 +0000

[...] only one bank as far as I know willing to give you that kind of *high-yield*. Not long ago, we had a Redneck Bank that paid an unbeatable 3.10% APY, but the bank was quickly overwhelmed by savers: First it stopped [...]

By: FNBO Direct 1.90% APY, WTDirect 1.76% APY and E*Trade 1.45% APY [Bank Reviews]

FNBO Direct 1.90% APY, WTDirect 1.76% APY and E*Trade 1.45% APY [Bank Reviews] — Thu, 02 Apr 2009 20:06:36 +0000

[...] smaller banks tend to hold their rates steady in comparison to big, popular banks. For example, Redneck Bank is maintaining the 3.10% APY for its money market savings account while others have dropped below [...]

By: Sun

Sun — Fri, 06 Mar 2009 15:48:17 +0000

@John Yeah, the name is really funny and weird. Wonder why they picked a name like that and the donkey on their website isn’t pretty, but the rate is good, at least for now. 2.95% 1-yr CD looks good. Rates from savings accounts can only go lower in the short-term from now. With economy like this, don’t expect rate hike from the Fed any time soon.

By: John

John — Wed, 04 Mar 2009 16:15:08 +0000

“Redneck” bank? I wonder how many customers they’ll gain vs. lose just because of the name.

DollarSavingsDirect is down to 2.50% now. I’ve decided to withdraw most of my money and buy a 1-year 2.95% CD. I think inflation will come roaring back, but I’m betting it won’t be for at least another year.

By: SunFinancial (Suns Financial Diary)

SunFinancial (Suns Financial Diary) — Tue, 03 Mar 2009 09:25:48 +0000

Recent Bank Findings: Redneck Bank 3.10% APY and Danvers Bank 3.00% APY: Stocks are down (another 300-point plun.. http://tinyurl.com/cwwj4v