Maintaining relationship with your bank is really a good thing. It pays off as some banks are now willing to pay depositors more for letting them manage your money.
Viking Bank of Washington State, for example, is offering CD and IRA relationship rates that are more than the national average CD and IRA rates.
The bank’s current CD and IRA relationship rates offer are:
- 7 month CD – 2.25%APY
- 12 month CD – 2.50%APY
- 24 month CD – 3.00%APY
The above requires only an opening deposit of $500 but this $500 must be new money and not money transferred from other Viking accounts. The bank also requires that customers must have either an active checking account with direct deposit or consistent deposit history OR a total deposit relationship of $95,000 or more to avail of the relationship rates. Maximum amount is $95,000 per CD or IRA.
Update 1: APY current as of 8/5/09
- 7 month CD – 2.00%APY
- 12 month CD – 2.25%APY
- 24 month CD – 2.75%APY