Prime has been lowered again!  The current prime rate is 6.0%. I can’t believe how much the rates have changed over the past four months. Hopefully this will help spur some economic growth!

I recently had someone ask me which high yield online savings account is the best. I did a little research, and this is what I’ve come up with:

All rates are current as of January 29, 2008.

Please let me know if I should add any.

Countrywide = 5.0% APY on balances of $10,000 or more, $1,000 to open.

Etrade= 4.40% APY, no minimum balance, no fees

WTdirect= 4.30% APY on $10,000 or more

ING Direct= 3.65% APY, no fees, no minimums

WaMu= 4.25% APY, requires a free checking account with WaMu.

Capital One= 3.5% APY, no fees, no minimums, free checks, free ATM card.

Emigrant Direct= 4.30% APY, no fees, no minimum

AmTrust Direct= 5.11% APY (promotional rate), no minimum, no fees.

Eloan= 4.0% APY minimum $5,000.

HSBC = 3.80% APY, no fees, no minimums.

Personally I use ING Direct. I like their sign up bonuses, I like the security, and they’ve been really great. I’ve been with them for three years. Sure, I could get a better interest rate somewhere else, but I’ve got my direct deposit going there, and I know they are safe.

Tell me, where do you have your savings account, or which ones do you like best?