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Amboy Direct 2.10% APY 1 Year CD

October 14th, 2009

Amboy Direct is offering a 2.10% APY 1 year CD on balances over $10,000 called the eSavings CD. It only get 1% APY on balances from $100 to $10,000 so you’ll definitely want to have $10,000 to get the good rate. This is an add-on certificate of deposit, which is rare for most banks to offer, so you’re allowed to make additional deposits in the first 6 months up to a total balance of $100,000. To visit their site click here.

They have an online application for this CD and if you’re already an Amboy customer you’ll still need to fill out the application. The CD rate locks when you submit the application. The CD is converted to an eSavings account automatically at maturity unless you ask for a renewal.

The early withdrawal penalty is only 3 months’ interest. One potential way to use this add-on feature to your advantage is to open an account with just $100, then see how the rates are over the next few months and if 2.10% is a competitive rate, then bump up the balance to over $10,000 to get the 2.10% APY.

Amboy Direct has a low 1 out of 5 star soundness rating from bankrate so I would definitely recommend staying under the $250,000 FDIC insured limits when opening an account with them.

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  1. Donald Treich
    September 10th, 2009 at 13:22 | #1

    Would be interested in opening a CD for 52,000.00 in the near future, What are the best terms and time frames.

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