Gifts for Banking - are they worth it?

Today I reviewed some of the gifts that were offered by iGoBanking (giftsforbanking.com) for opening long term CDs. Here is some interesting analysis....

Analyzing 10,000 invested for 2 years @ 1.0% APY

Rate offered for a 2 year CD on 02/09/2011: 1.0% APY. The various gifts and their approximate fair value are:
1. Dinner and a Movie Date Night for 3 Months (worth approximately $170)
2. Ralph Lauren® Bath Robes and Champagne Flutes (worth approximately $125)
3. Bushnell® Stadium Kit & $100 NFL SHOP.com (worth approximately $150)
4. Lois Hill® Earrings & Champagne Celebration (worth approximately $170)
The costliest gift offered with this 2 year CD is worth approximately $170. When this amount is factored into the CD rate of 1.0%, it increases the composite rate of the CD to 1.8% APY. This rate in slightly better than the highest rate offered by Alliant Credit Union (1.7% APY 2 Yr CD)

Analyzing 10,000 invested for 3 years @ 1.25% APY

1. Dinner and a Movie Date Night for 9 Months (worth approximately $345)
2. $250 BedandBreakfast.com Certificate & Luggage Set (worth approximately $325)
3. Ultimate Sports Fan Package (worth approximately $300)
4. Fresh Flowers & Pave Heart Diamond (worth approximately $250)
The costliest gift offered with this 3 year CD is worth approximately $345. When this amount is factored into the CD rate of 1.25%, it increases the composite rate of the CD to 2.4% APY. This rate in slightly better than the highest rate offered by Melrose Credit Union (2.17% APY 3 Yr CD)

Analyzing 10,000 invested for 5 years @ 1.75% APY

1. David Yurman® Classic 7mm Cable Bracelet (worth approximately $500)
2. Cleveland® CG16 and Irons with Pro Fitting (worth approximately $650)
3. Wine Fridge & 6 Months to Rich Reds Wine Club (worth approximately $500)
The costliest gift offered with this 5 year CD is worth approximately $650. When this amount is factored into the CD rate of 1.75%, it increases the composite rate of the CD to 3.8% APY. This rate in much better than the highest rate offered by Connexus CU (3.0% APY 5 Yr CD)