High Yield Savings Accounts: Which is the Best?
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?