Banking Deals of the Week: May 5

Welcome to Cinco de Mayo — a great chance for America to stretch its cultural muscles and enjoy a nice Mexican feast tonight — but not before checking out the best banking deals in the marketplace.

As usual here at Deals of the Week, the best banking deals are always moving, and always dynamic. But with more investors moving into stocks as decent economic news paves the way for more confidence in U.S. financial markets, the stage should be set for heftier bank interest rate deals.

Auto Loans

Let’s start here, in an area that, admittedly, we should be paying more attention to — auto loan rates. It’s easy to bypass the auto loan market — especially in an economy where millions of Americans are hanging on to their 8-year-old Chryslers.

But make no mistake: Good deals can be had in the auto loan market these days.

Bank of America (Stock Quote: BAC) is out of the gate first in this market. The bank has been aggressive in many deposit rate areas of late, particularly in the bank certificate of deposit market.

Now it has a new auto loan program where, if you have good credit, you can get a loan rate as low as 3.35% for a 60-month loan. Compare that to the average 60-month car loan interest rate of 5.893%, as measured by the BankingMyWay Auto Loan Rate Tracker.

Bank of America is also offering a 3.75% auto loan rate further out on the scale — for car loans up to 72 months. The bank will also refinance your current auto loan rate for as low as 3.75% (depending on term and lease rates).

So if you’re in the market for a new car, or want to refinance the terms of your current loan, get the goods at the Bank of America Web site.

If you liked this article you might like

Unlock the Secrets Behind Bitcoin Investing

Questions You Must Ask a Car Salesperson to Avoid Getting Ripped Off Big-Time

5 Surefire Ways to Destroy Your Marriage

Best States for Retirement in the U.S.

Worst States for Retirement in the U.S.