Current Yield: 3.05% APY as of 11/23/2008
Amboy Direct Bank offers an interesting savings account that delivers a high interest rate. Amboy National Bank gives us another option when choosing a place to earn interest on their hard earned cash.
Never heard of Amboy Bank? Neither have I. Let’s dig into who they are before we open a savings account with them.
Amboy Direct was established in 1990, a division of the bank. The bank itself has grown itself into a $2 billion bank with branches in Middlesex, Monmouth, Mercer and Somerset counties. The are FDIC insured which is what is most important. T
hey seem to be a bank on the rise and will continue to gather new customers if they keep the savings accounts rates up.
The Amboy Direct savings account doesn’t mention if it has ATM access. If it doesn’t, that may be a good thing. I’ve always stated here that saving is easier when you don’t have easy access to your money. It helps you stick to your goals if you’re not constantly diving into your savings.
The account does have online access and has direct deposit with automatic deposits. This helps when your goals is to save consistently. The savings account is easy to open and would recommend this account as another way to diversify or save money while earning a high interest rate.
Things to know.
No Fees or Minimums
No Mention of ATM card. (Believe me, it’s a good thing).
Deposits are not readily available, usually 5-7 days.