Bank rates may be out of date. Please check bank websites for current rates.
1st Constitution Direct has a special internet only savings promo on their high yield online savings account. With this internet only promotion, you can get 2.05% APY locked in for the first 3 months, after which it switches to a variable rate. The current variable savings rate is 1.95% APY.
In order to qualify for this rate, you need to maintain a balance of $10,000. If your balance falls below $10,000 your rate will drop to 1.60%. Minimum initial deposit of at least $100 is required. Here are some of the details of this account:
- Account must be opened with an initial deposit from your non 1st Constitution checking account
- 1st Constitution Direct will send two small deposits and one small withdrawal to your personal checking account that must be verified. To verify, review your transaction history at the bank where your checking account resides and identify the transactions
- After reviewing, you will need to confirm the amounts by logging in to 1st Constitution Direct and clicking on â??confirm verification amountsâ? – these transactions are sent as a fraud protection measure
- You must validate the 2 small deposits and one small withdrawal in your linked account no later than 45 days from the date the first transaction was made
- If you do not validate the transactions within 45 days, 1st Constitution Direct may close the Savings account
- Transfer capabilities will be available immediately after “Verification process” is complete
1st Constitution Direct is a division of 1st Constitution Bank, a NJ based bank founded in 1989. 1st Constitution Direct was established in 2008 to support clients who prefer to bank from their computer rather than traveling to a branch.
1st Constitution Direct clients have access to Telephone Service Consultants who are available to answer questions and address client issues. Banking online allows them to reduce their overhead costs, which translates into a better savings rate.
You can contact 1st Constitution Direct at the following phone number: 866-934-4178.
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