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Giftsforbanking.com Review – Valentines Bundle

Giftsforbanking.com, a part of iGoBanking.com, is offering a special gift package for opening a CD. The Valentines gift package is scheduled to end on 2/14/2011.

The eligible CDs are:

  • 2 year CD with 1.00% APY ($50k minimum)
  • 3 year CD with 1.25% APY ($25k minimum)

Clearly these CD rates are not the best CD rates available. Comparing this to some of the top CD rates available for 2-3 years, you will miss out on $750 in interest on the $50,000 deposit for the 2 year CD. You’ll lose $563 in interest for the 3 year CD.

The valentines bundle includes:

  • 32GB Apple® iPad
  • Nikon Coolpix® L22 Camera (red)
  • ful Brooklyn 2-in-1 iPad Backpack
  • $75 Apple Gift Card
  • $25 iTunes® Gift Card

The value of the bundle that would be reported on the 1099 is $1,100. You will have to pay taxes on this amount.

All in all, this seems like a decent deal if you were planning on buying those items to begin with. If not, you’re probably better off just getting a CD with a higher CD rate.

GiftsforBanking.com is part of iGObanking.com which is a division of Flushing Savings Bank, FSB. Flushing Savings Bank is FDIC insured.

Bank rates may be out of date. Please check bank websites for current rates. Find & compare the best CD rates, savings accounts, and bank deals!

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One Comment on “Giftsforbanking.com Review – Valentines Bundle”

  • sayitagain
    February 12, 2011

    Great Valentine’s promotion from Giftsforbanking.com! Hurry the offer ends 2/14/11 at 11:59 PM EST. Open a CD – Get a Gift! GiftsforBanking.com is a value added program offered by iGObanking.com

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