As a blogger and personal finance junkie I’m on a continued quest to find banks who offer people the best financial products and best savings rates. I’ve recently been reading about Aurora bank which is thought highly of by other bloggers and Bankrate.com, so I thought I would right a review of my findings.
Aurora Bank has been around for over 85 years. They are headquartered out of Wilmington, Delaware and serve over 321,000 customers. They state on their website they are dedicated to integrity, agility and partnership. Certainly, those are words you want to hear from your bank.
Aurora offers banking and home loan related services. They have an online savings accounts, CDs, checking accounts and various types of mortgages. They’ve been recognized by Bankrate.com as a Top Tier 100 Highest Yields bank and also received a Safe and Sound 4 Star Rating.
Is your money safe? Yes, Aurora is FDIC insured. The Federal Deposit Insurance Corporation insures all CDs, savings accounts, money market accounts, and checking accounts up to $250,000.
Here’s a look at some of the Aurora Bank products.
Online Savings
Again, Bankrate.com puts Aurora savings account in their top 100 highest yield accounts ranking. You’ve most likely heard of Bankrate.com and can trust them as a valued resource in providing banking information.
Aurora savings offers competitive interest rates that are compounded daily and posted monthly. You must have a minimum balance of $1000 to get the best rate, but that shouldn’t be a problem for those of you who are off to a good start on your emergency fund. There are no monthly fees as long as you keep an average daily balance of $500.
Money Market
As with the savings account, the Aurora Money Market interest rates are compounded daily and posted monthly. There are no fees with the money market account as long as you have an average daily balance of $1000. The money market account provides up to 6 withdrawals per month.
Certificates of Deposit
The Aurora Certificate of Deposit (CD) interest rate is compounded daily and posted monthly on this account too. You can find terms from 6 months all the way up to 5 years. The minimum deposit for a CD is $1000. Your CD will automatically renew unless you choose to withdraw the funds and you’ll receive advanced notice when it’s about to mature. Learn more about the Aurora CD.
Checking
The Aurora checking account provides standard online banking features and offers you a return on your money. They have an extensive network of ATM’s so you can be confident you’ll be able to get access to your money. You can set up overdraft protection by linking to your savings account. Other standard features include check writing, check card and electronic transfers.
Home Loans
Aurora home loan service offers different types of mortgages including fixed rate, FHA and Adjustable Rate (ARM). You can lock in your interest rate after your application has been approved. They provide you the ability to conveniently make all your payments online. Their rates appear to be competitive so I would recommend including them in your list of potential mortgage providers if you’re looking for a new home loan or considering refinancing. Get a free quote with no obligations.
Overall, I feel good about recommending Aurora bank. If you’re looking for a new bank or considering a change I would add them to your list of banks to consider. They appear to be quite competitive and again, rank well with Bankrate.com.
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