-
Financial Rates:
4.0
-
Customer Service:
2.0
-
Website Experience:
2.5
-
Bank Fees:
5.0
Pros:
- Competitive interest rates on accounts
- Application completely online
- No monthly maintenance fees
- Interest rates are not tiered
Cons:
- High opening required amounts
- Limited accounts available
- Not available in all 50 states
- Application response not immediate
-
Financial Rates:
2.0
-
Customer Service:
3.5
-
Website Experience:
3.0
-
Bank Fees:
3.5
Pros:
- Competitive interest rates on accounts
- Variety of accounts offered
- Most accounts have low opening amounts
- Special CDs earn great rates
Cons:
- Accounts have monthly fees
- Highest rates require large sums
- No business accounts offered
- Bill pay has a monthly fee
The interest rates for TotalDirectBank accounts offer competitive interest rates. The interest rates are much higher than typical brick-and-mortar bank rates. Their interest rates are competitive with other online accounts.
The application for TotalDirectBank accounts is entirely online. To open a money market or CD account with TotalDirectBank, visit their website. There are no branch locations. You cannot mail in your application.
There are no monthly fees for the TotalDirectBank money market account. You do not have to keep a set balance in the account to avoid a monthly fee. The money market account is free. The CD has a fee if you withdraw money before the CD matures.
Interest rates for TotalDirectBank are not tiered. Account balances over the opening required amount earn the most competitive interest rates.
Opening an account with TotalDirectBank requires a significant amount. The money market account requires $5,000 to open. The CD requires $25,000 to open. You must keep at least these amounts in the account to earn interest.
TotalDirectBank only offers a money market account and CDs. The CD terms range from 3-60 months. There are six terms available. Those include 3, 6, 12, 24, 36, and 60-month CD terms.
The TotalDirectBank accounts are not available in all 50 states. If you live in California, Florida, or Puerto Rico, you cannot apply for an account. You could be eligible if you live in other states across the United States.
Opening a money market account or CD with TotalDirectBank is entirely online. When you apply for an account, you receive an approval within two business days. You then must fund your account within 30 days. If you fail to fund it by then, the account could close.
Luana Savings Bank offers competitive rates on their accounts. The rates are competitive with other online accounts. The interest rates could change depending on your location. Contact Luana employees to find out the rates you could earn on the accounts.
There are a variety of different accounts offered through Luana Savings Bank. The personal deposit accounts include a budget, VIP, and a senior checking account. They offer money market and savings accounts. A variety of different CD terms are offered. Luana also offers accounts for kids, including a 12-month CD.
The required amount to open an account with Luana is low. The savings account requires $50 to open. Checking accounts do not have a set amount required to open the accounts. The CD for kids requires $500 to open. Each different CD term requires $1,000 to open. The interest money market account requires $2,500 to open.
Luana Savings Bank offers three special term length CDs. The interest rates on these terms are slightly more competitive than the other CD rates. The terms include a 9-month, 26-month, and 42-month term. The 9-month and 26-month terms require $5,000 to open. The 42-month term only requires $1,000 to open.
Some Luana accounts have a monthly fee. The checking account fees range from $8 to $16 depending on the account. To waive the monthly fees requires keeping a set balance in the account. The balance is $1,000 or $2,500 for checking accounts. The VIP Club account has a fee that does not have an option to waive.
To earn the most competitive rate for Luana accounts requires large balances. The NOW account requires $100,000. The Insured MMA requires $250,000. CDs require over $100,000 to earn the most competitive rates. The lower rates are still competitive, but not the best rate offered.
Luana does not offer business accounts. Only personal deposit accounts are available through Luana Savings Bank. Those accounts include savings, checking, and money market accounts, along with CDs. Luana does offer commercial lending options.
Luana Savings Bank offers bill pay with their checking accounts. The bill pay is not free. There is a monthly fee of $4.95 to use bill pay. That fee is waived if you make at least three payments per monthly cycle. If you make more than 20, you will be charged $0.50 per transaction.
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| Savings (Rate as of 11/21/2024) | |
| APY | 4.00% |
|---|---|
| Rate | 3.92% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC | |
| Savings (Rate as of 11/21/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.64% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC No monthly maintenance fee, $0 to open, easily grow your money | |
The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guarantee the accuracy or availability of any rates shown. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own website where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
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1 APY stands for Annual Percent Yield. It's different from Rate because it takes into account compounding interest for the year.
2 MMA stands for Money Market Account. It's a savings and checking hybrid, allowing you to earn interest and use checks 6 times a month.