4% APY at AmTrustDirect.com

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AmTrustDirect.com is offering 4% APY (3.928% rate) on new money in their E-Savings account.  This is guaranteed for 90 days.  You need $1,000 to open the account.  You get that rate for every penny you have in here until you break $100K.  Then it drops to 2.5% APY.  Of course, why the heck do you have over $100K (the FDIC limit in most cases) in a bank account?  I digress…

This is a good example of why I keep online bank accounts open, with a buck in them, even after I have pulled my dough out of that bank in favor of a better rate elsewhere.  This 90 day promo rate is for “new money”.  Since my account was still open, with other bank accounts linked to it, I was able to take advantage of this new money offer with a couple clicks on AmTrustDirect.com. And since I had an account open, I did not have to worry about coming up with a crisp Grover Cleveland to open a new one.

I have checked with all the online bank accounts I have.  Having $1 in them is the minimum required balance to keep an account open, in most cases.

And… if this matters to you, you can have the account in the name of your Revocable Living Trust.  If you said, “My what?” then that doesn’t apply to you.  Just enjoy the rate!

I will never intentionally mislead you, but since this blog insists upon personal responsibility, check out the AmTrust E-Savings rates here.

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