The biggest advantage in making an investment is in the security of earning high returns on it. The fact that you are investing with a sound bank whose deposits are FDIC insured gives you a great peace of mind. Advanta Bank is an industrial bank with $1.02 billion in owned assets as of June 30, 2006. Its main mission is to offer deposit products at highly competitive rates.
For investing your savings you may open a Certificate of Deposit account with Advanta Bank. If you have no other Atlanta Bank account then you need a minimum opening deposit of $10,000. In case you already have an account with this bank then you can open a Certificate of Deposit account with a deposit of $2,500. The rates offered on different CD accounts are explained below:
Regular Certificate of Deposit (CD) Accounts:
A CD account for 91 days earns 2.96% interest with 3.00% APY.
A CD account for 6 months earns 3.15% interest with 3.20% APY.
A CD account for 12 months earns 3.54% interest with 3.60% APY.
A CD account for 18 months earns 3.59% interest with 3.66% APY.
A CD account for 24 months earns 3.59% interest with 3.66% APY.
A CD account for 30 months earns 3.63% interest with 3.70% APY.
A CD account for 36 months earns 3.68% interest with 3.75% APY.
A CD account for 42 months earns 3.73% interest with 3.80% APY.
A CD account for 48 months earns 3.92% interest with 4.00% APY.
A CD account for 60 months earns 4.16% interest with 4.25% APY.
*The above interest rates in effect through Saturday, May 31, 2008 (subject to change weekly).
Jumbo Certificate of Deposit (CD) Accounts:
A CD account for 30 days earns 2.25% interest with 2.27% APY.
A CD account for 60 days earns 2.30% interest with 2.32% APY.
A CD account for 90 days earns 3.00% interest with 3.03% APY.
A CD account for 180 days earns 3.20% interest with 3.23% APY.
A CD account for 270 days earns 3.20% interest with 3.21% APY.
A CD account for 1 year (365 days) earns 3.55% interest with 3.55% APY.
A CD account for 18 months (547 days) earns 3.55% interest with 3.55% APY.
A CD account for 2 years (730 days) earns 3.65% interest with 3.65% APY.
A CD account for 3 years (1095 days) earns 3.80% interest with 3.80% APY.
*The above interest rates in effect through Saturday, May 31, 2008 (subject to change weekly).
CD Account Features:
@ Interest in compounded daily.
@ Optional monthly, quarterly, semiannual or annual interest payments on terms of 12 months or more.
@ Substantial penalty for early withdrawal.
@ Deposits are FDIC insured up to $100,000 per depositor.
You can open your account online through the Atlanta Bank’s website. For any queries regarding deposit accounts, you may call during weekdays, 8:30 a.m. to 5:00 p.m., Mountain Time, at 1-800-788-2632 (toll free).
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