First Mutual Bank of Washington State is offering 2.25%APY for a 7 Month Term fixed rate time deposit account, a high yield savings account. The rate is in effect as of March 27, 2009. First Mutual Bank is FDIC insured so money should be safe.

Time deposits are a great way to save up cash for future needs. All you need to do to get the best return on your money is to agree not to touch the funds until the term ends.

Visit First Mutual Bank for a complete list of time deposit rates and minimum deposit requirements.

Zions Bank is offering an online high yields savings rate of 2.17APY. This rate is available exclusively online and requires an opening balance of at least $100. Earnings are compounded daily and paid monthly, but there should be no more than six transfers during the 30-day statement cycle period.

Depositors who want to earn the 2.17% rate must maintain an account balance of  at least $1,000 or over. The rate may change after account opening.

Money should be safe since the bank is FDIC insured. There are also no monthly fees for opening an account.