While we here at Peak Personal Finance looked at the certificate of deposit offers at Sovereign Bank, we also had a look at what they offer for online banking services. We know that in today’s busy world, electronic banking is important to most of us, so we looked over online banking at Sovereign Bank to report here.
Of course, Sovereign Bank electronic banking has industry-standard, top-notch security for all online and mobile banking customers. This should go without saying for any reputable bank. They also offer the usual account access that should be expected from any good bank: account histories, transactions, balances, money transfers between accounts, etc.
Additionally, Sovereign Bank internet banking has a fairly unique feature that allows you to not only Bill Pay to pay your bills, but set up recurring automatic or even one-time, post-dated payments for bills. S
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Here at Peak Personal Finance, we know that many of our readers are customers of Sovereign Bank, which is now part of the Santander network of banks. Those readers with specific savings goals are likely considering a stable instrument like a certificate of deposit as their means towards their goal.
Sovereign Bank CD rates are competitive both locally and nationally and are definitely worth looking into. A special 3-year Sovereign Bank certificate of deposit rates offer is at 2.00% annual percentage yield (APY) while a 5-year offer gives Sovereign CD rates of 2.80% APY. Both require a $500 minimum balance to open and maintain and interest payments can be transferred automatically to another account or re-invested in the CD to boost its deposit.
Another option worth looking at are the Rising Rate CD offers, which don’t have the best CD rates available, but they do have a compelling bonus option allowing you to upgrade to a new, higher rate (if it becomes available) during the CD’s term. Thi
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