As online banks go, this one is more focused on the older generations and meeting their needs. As part of the online banking services you can access life insurance accounts, mortgages, reverse mortgages, CDs, savings and money market accounts.
The bank rates for the money market accounts are set up in a tiered format. The minimum balance levels are $0, $5,000, $10,000 and $25,000. The corresponding APYs are 0.15%, 0.25%, 0.75% and 0.75%. The minimum balance e required to avoid the monthly service fee of $15 is $1,500.
The interest rates for the High Yield Savings account are also in a tiered format. These minimum balance levels are $0, $5,000, $10,000 and $25,000. The corresponding APYs are 0.15%, 0.25%, 0.65% and 0.75% respectively. This also has a $15 month service charge when the balance is below $1,500.
Both accounts allow the user to have free access to their accounts online for checking of balances, transfers and transaction history.
There are also CD rates available online that is in a tiered format with the minimum deposit amounts at $2,000, $15,000, $25,000 and $50,000.
The 3 month CD is earning an APY of 0.25%, 0.35%, 0.45%, and 0.50% respectively. The 6 month CD is earning an APY of 0.35%, 0.55%, 0.65% and 0.70%. The 9 month CD is earning an APY of 0.40%, 0.65%, 0.70%, and 0.80%.The 1 year CD is earning an APY of 0.90%, 1.00%, 1.20% and 1.20%.
The 18 month CD is earning an APY of 1.00%, 1.05%, 1.15% and 1.15%. The 2 year CD is earning an APY of 1.05%, 1.10%, 1.20% and 1.20%.The 3 year CD is earning an APY of 1.10%, 1.15%, 1.25% and 1.25%. The 4 year CD is earning an APY of 1.25%, 1.35%, 1.50% and 1.50%. The 5 year CD that is earning an APY of 1.50%, 1.75%, 1.90% and 1.90%.
These are the Met Life Online Banking Services and their bank rates as of July 18, 2011 but are subject to change without notice.
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