GMAC Bank Offers High Value To Customers Through Its Great Rate Guarantee
HORSHAM, Pa. - GMAC Bank's Great Rate Guarantee is one more innovative way GMAC Bank customers can expect more from someone they know.
The Great Rate Guarantee is GMAC Bank's commitment that the interest yield on its deposit accounts is greater than the national average for comparable retail banks, as tracked by the Bankrate.com National Index. The Great Rate Guarantee applies to deposits in excess of $5,000. Bankrate.com is the online service of the Bankrate Monitor, a well-known and widely respected source for tracking competitive retail bank rate information drawing its data from over 4,800 financial institutions nationally.
"We really listen to the GM/GMAC affinity base. This is something they wanted," said Craig Apatov, senior vice president and chief marketing officer for the remote bank. "A guaranteed higher rate of return on these deposit products is a compelling reason to open an account with GMAC Bank.
"This is another demonstration of GMAC Bank's commitment to provide higher-valued products and services," Apatov added, "as in our tag line 'Expect More From Someone You Know.'"
The Great Rate Guarantee applies to GMAC Bank's three main deposit products: certificates of deposit (CDs); Insured Savings money market accounts; and Relationship Checking accounts, which pay higher yields on higher deposit balances. GMAC Bank offers free online banking for all three deposit products, and all are FDIC-insured up to $100,000.
GMAC Bank has fixed rates for six different CD terms - 3, 6, 9, 12, 18 and 24 months - and they all qualify for the Great Rate Guarantee. Insured Savings accounts are variable rate accounts with higher interest yields for higher account balances. The GMAC Bank Relationship Checking accounts give customers a choice of interest-earning checking accounts.
Both the Insured Savings money market accounts and the Relationship Checking accounts come with free VISA(r) Check Cards. In addition, GMAC Bank customers can activate and fund their accounts electronically, by phone or by mail. Customers can retrieve money from their GMAC Bank accounts through the VISA or Cirrus(r) ATM Network. GMAC Bank customers can also request bank checks, or they can electronically transfer cash from their GMAC Bank account to another bank account via phone or Internet at www.gmacbank.com.
About GMAC Bank
Headquartered in Greenville, Del., GMAC Bank operates as a federally chartered thrift offering remote banking and such personal financial services as FDIC-insured money market accounts, certificates of deposit and transactional checking accounts in person, via the phone, Internet, and mail.
GMAC Bank is a member of the FDIC and an Equal Housing Lender. GMAC Bank is an affiliate of GMAC Mortgage Corporation, one of the nation's largest residential mortgage lenders and servicers with over 2 million customers throughout the United States. GMAC Bank operates as a subsidiary of GMAC Residential Holding Corp., an indirect, wholly owned subsidiary of General Motors Corporation.