US Banking System

Franklin Federal Bank is a local bank mortgage lender that serves central Virginia with a wide assortment of home loan products.  Franklin Federal Bank is based in Glen Allen, VA and operates eight bank branches in the Old Dominion State.  Franklin Fed is a local lender where all of the Virginia mortgage loans are originated, processed and closed within the state.

For consumers that want to purchase a new home, refinance an existing mortgage loan for a lower interest rate, make home improvements, pay for tuition, or just plan a vacation, the loan officers at Franklin Federal Bank can help with the loan transaction.  Whether it’s a fixed rate loan or adjustable rate mortgage, a loan for a second home or an investment property program, Franklin Federal Bank offers a wide variety of products. 

Franklin Federal Bank mortgage provides competitive mortgage rates in Virginia with local service.  The loans available from the bank cover a number of different real estate financing needs for customers that often have a variety of different backgrounds and budgets.  Consumers that are concerned about the myriad of loan choices can get help determining the loan amount they can afford and which mortgage product is right based on their background directly from the loan officers at the bank.

Current mortgage rates and terms in Virginia available at Franklin Federal Bank include the following:

30 year mortgage rate in VA is at 4.00 percent with 0.125 points with an APR of 4.043 percent.

20 year mortgage rate in VA is 3.875 percent with 0.205 points with an APR of 3.944 percent.

15 year VA mortgage rate is 3.500 percent and 0.150 points and a 3.580 percent.

10 year VA mortgage rate is at 3.375 percent and 0.153 points for an APR of 3.491 percent.

The VA mortgage interest rates, annual percentage rates (APRs), and points shown are current as of this publication date but are subject to change without notice.  All home loans require bank approval and must meet current underwriting conditions.  The loan rates in VA listed are for loan amounts of $250,000.00 with a minimum 20 percent down payment on a single family home purchase and assume the borrower has excellent credit.  Individual mortgage loan and loan APRs will vary based on the final loan amount, finance charges, down payment, property type, credit and other factors.

Franklin Federal Savings Bank also offers additional mortgage products and rate options in Virginia for refinances and purchases.  To obtain additional information on the bank’s mortgage loan products, contact a Franklin Federal representative at 804.967.7000.

Even as savings account and money market account interest rates hover near zero, you can still often find decent interest rates on an interest checking account from a credit union or community bank.

Home Federal Bank, headquartered in Shreveport, La., offers their Smart Rewards Checking Account to customers who open the account in person. As of February 6, 2012, funds in a Smart Rewards Checking Account earn 4.00 percent. You can open the account with $250 and must maintain a minimum balance of $250 to earn interest. The highest interest is paid on amounts up to $20,000, with tiered rates on funds above that.

Read full post…

Page County State Bank offers attractive interest rate for their best reward checking account. This money in the bank deal lets you earn their best interest rate of 3.25% APY for balances up to $15,000. The portion of your deposit above $15,000 will earn you an interest rate of 1.01% APY. Plus, you can withdraw up to $25 worth of ATM fees when you meet the following requirements:

• subscribe to electronic bank statement
• make at least 10 purchases using your debit card at the point of sale
• setup at least 1 direct deposit, ACH- bill pay and auto debit

In case you do not meet the bank’s requirements, you will not be able to refund your ATM fees but you will still earn their base interest rate of 0.25% APY. Y

Read full post…

First Commercial Bank invites individuals to take advantage of the best interest rate with their reward checking account called First Rewards Checking. You can earn their best checking account rate of 3.51% APY with balance up to $25,000. An interest rate of 1.01% APY is earned for the portion of the balance above $25,000. Plus, you can refund your ATM fee of up to $50 if you meet the banks qualifications:

• make at least 12 debit card purchases at the point of sale
• setup at least 1 recurring ACH debit or direct deposit
• subscribe to e-Statement

If you do not meet the bank’s requirements, you will then earn their base interest rate of 0.05% APY and you will not be able to refund your ATM surcharges. Y

Read full post…

There is a difference between “online banking” and “online banks”. “Online banking” might refer to your typical brick-and-mortar bank’s online account management features. For instance, you might have a checking account through a traditional neighborhood branch bank, but manage your account online. “Online banks” refer to an Internet-only bank where there is no brick-and-mortar aspect. You do all of your banking online. In this article, we’ll take a closer look at online banks, and why some online banks are able to offer better CD rates and other savings account rates than traditional banks. Advantages of Onlin

Read full post…

Bluegrass Community Bank offers their best reward checking account called Added Benefits Checking account. The bank lets you earn an interest rate of 4.07% APY for balances up to $24,999.99. you also earn an interest rate of 0.40% APY for the portion of the balance above $25,000. You also get to have your ATM fees refunded when you meet the following requirements:

• make at least 10 debit card purchases per statement cycle
• subscribe to electronic bank statement
• make at least 1 bill payment posted on your account per statement cycle
• setup at least 1 automatic debit or direct deposit

In case you do not meet the bank’s requirement, you will only earn their base interest rate of 0.15% APY and you will not be able to get your ATM surcharges refunded. T

Read full post…

Home Federal Bank is offering a high yield rewards checking account with a top interest rate of 4.00% APY on balances of up to $25,000 and offers a refund of foreign atm surcharges of up to $10 a month.

Read full post…