As some of you may remember reading, I was getting frustrated with ING and our savings account there with the interest rate being continually lowered (currently at 0.80%).
I still dump money into there because a) It's still more than our regular savings account at Navy Federal, and b) It's harder to 'use' the money as it takes a few days for it to transfer back to our account.
So for the cruise, I was going to do 1 of 2 options. Open another ING account (with the 0.80% interest) or open a Custom Club account at Navy Federal where I can choose my own maturity date (making it harder to 'take' the money early) and an interest rate of 0.75%.
Yesterday I returned to work after having Monday off, to see an email about a 'Special' Custom Club account. I checked out our website to make sure it was really there. If you open the Custom Club account (min $5 deposit) and make it only from 3 - 12 months (normally it's 3 - 60months) it would have an APY of 2.00% YES! Finally, something good for saving! And unlike the 'Special' EasyStart Certificate (that I also have and has an APY of 3.00%) which maxes out at $3000 and has other conditions, the Custom Club maxes out at $5000 and I can choose when I want the money to deposit into my account. I opened it on the spot with $20 (soon to be much much more) and have it maturing on 01/14/2013, just under a week before we leave on our cruise, which is the reason for this account to be opened :)
I finally feel like I'm actually getting something back from saving (even if it is a little bit). It was nice to see my Month To Date dividend go from $0.55 in my easystart to $1.29 in one day after transferring my bonus money from work into there. I will max that out here soon and it matures in June. It is paying for the majority of the cruise.
If anyone is eligible for Navy Federal and you're looking for some good certificates, I highly recommend this custom club account and the special easystart (min $50 to open and some conditions).
*Note: I do work for Navy Federal, but I do no receive ANY compensation if you open an account. I was a member before I started working there, and have always been happy with their products and services. Just so happens that I get to know about things from email without having to search for it :)