Most Banks are Seeking New Ways To Profit

Some banks are aggressively seeking deposits, and that often translates into higher yields for savers.
For instance, Discover Bank of New Castle, Del., best known for its Discover Card, has a 3.75% yield on a $2,500-minimum, 10-year IRA Certificate of Deposit. It began allowing CDs as an IRA investment, a rarity for an online bank, last November.
The bank, which has $51 billion in managed assets, also announced an online savings account paying 2% with a $500-minimum deposit, on July 7. That's the same day it priced more than 54 million shares of a common stock offering.