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 March 19, 2008.

Please let me know if I should add any.

Countrywide = 4.05% APY on balances of $10,000 or more, $1,000 to open.

Etrade= 3.45% APY, no minimum balance, no fees

WTdirect= 3.81% APY on $10,000 or more

ING Direct= 3.0% APY, no fees, no minimums

WaMu= 4.0% APY, requires a free checking account with WaMu.

Capital One= 2.85% APY, no fees, no minimums, free checks, free ATM card.

Emigrant Direct= 3.0% APY, no fees, no minimum

AmTrust Direct= 3.5% APY (promotional rate), no minimum, no fees.

Eloan= 3.50% APY $5,000 minimum.

HSBC = 3.55% 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. If you’d like a referral link to open an account so you can earn $25, please comment here.

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

Posted under Save Your Money