Bank Deals
by admin on March 6, 2009
in Money
It has been more than four months since I last updated my little interest rates table. During this four-month period, the rate picture of online banks has changed a lot, going down 5% something to mostly in the neighborhood of 3% APY, as the Fed cut interest rates every time they met. However, the latest reduction of a quarter of a percentage point at the end of last month could be the last one by the Fed in the current round of rate cut. And because of the relatively small cut (only 0.25%), no bank, as far as I know, has followed suit. One bank, E-Trade Financial, even raised the rate on their Complete Savings Account a couple of days ago. So I feel it’s time to take a look at where everybody stands on the rate ladder.
For more information on each bank, be sure to check out Best Online Savings Account Deals page and the Online Bank Interest Rate History for latest rates.
Last update: March 2, 2009
| Bank |
Savings
APY |
Minimum |
Checking
APY |
Minimum |
| DollarSavingsDirect Savings |
2.25% |
$1,000 |
N/A |
N/A |
| EverBank Money Market |
2.51%* |
$1,500 |
4.00% |
$1,500 |
| Bank of Internet Money Market |
2.50% |
$1 |
2.80% |
$1 |
| ShoreBank Direct Online Savings |
3.15% |
$1 |
N/A |
N/A |
| Doral Bank Direct Savings |
2.25%* |
$1,000 |
N/A |
N/A |
| 1st Constitution Direct Super Savings |
3.00% |
$10,000 |
N/A |
N/A |
| CNB Bank Direct High Yield Savings |
3.00% |
$1 |
N/A |
N/A |
| Venture Bank Wise-Choice Savings |
2.48% |
$1 |
3.3% |
$1 |
| Savings Square |
2.60% |
$1 |
N/A |
N/A |
| Provident Direct High Yield Savings |
2.82% |
$1 |
N/A |
N/A |
| First Trade Union Bank High & Mighty Savings |
0.50% |
$2,500 |
N/A |
N/A |
| Chesapeake Bank Clear Sky Savings |
3.05% |
$1 |
2.50 |
$1 |
| Redneck Bank Money Market |
3.10% |
$1 |
N/A |
N/A |
| Danvers Bank Online Savings |
3.00% |
$1 |
N/A |
N/A |
| IGoBanking Savings |
2.00% |
$1 |
2.80% |
$1 |
| Century Bank Direct Online Savings |
2.59% |
$100 |
2.59 |
$100 |
| E*Trade Complete Savings |
1.95% |
$1 |
3.25% |
$5,000 |
| UFB Direct Traveler Savings |
1.05% |
$1 |
0.01% |
$50 |
| GMAC Bank Online Savings |
2.75% |
$500 |
N/A |
N/A |
| Intervest National Bank Savings |
2.70% |
$500 |
N/A |
N/A |
| Goldwater Bank Savings |
2.65% |
$1,500 |
N/A |
N/A |
| Corus Bank Money Market |
2.48% |
$10,000 |
N/A |
N/A |
| Flagstar Bank Express Money Market |
2.65% |
$1 |
N/A |
N/A |
| WT Direct High Yield Savings |
2.01% |
$10,000 |
N/A |
N/A |
| FNBO Direct Online Savings |
2.60% |
$1 |
2.25% |
$1 |
| Capital One Online Savings |
2.27% |
$10,000 |
N/A |
N/A |
| HSBC Direct Online Savings |
1.85% |
$1 |
2.25% |
$1 |
| Umbrella Bank Money Market |
2.24% |
$1,000 |
N/A |
N/A |
| Presidential Bank Premier Savings |
2.60% |
$5,000 |
2.00% |
$1,500 |
| Heartland Bank Direct Performance Savings |
2.55% |
$500 |
N/A |
N/A |
| Amboy Direct Savings |
2.02% |
$3,000 |
N/A |
N/A |
| Citi Bank Ultimate Savings |
2.10% |
$1 |
N/A |
N/A |
| Emigrant Direct Savings |
2.05% |
$1 |
N/A |
N/A |
| ING Direct Orange Savings |
1.85% |
$1 |
1.00% |
$1 |
| Discover Bank |
2.05% |
$2,500 |
N/A |
N/A |
| Capital One Money Market |
1.60% |
$1 |
N/A |
N/A |
| E-Loan Bank Savings Plus |
1.81% |
$5,000 |
N/A |
N/A |
| Salem Five Direct Money Market |
2.00% |
$1 |
N/A |
N/A |
| Univest Direct Online Savings |
1.70% |
$1 |
0.75% |
$1 |
| OnBank Money Market Savings |
1.30% |
$1 |
N/A |
N/A |
| AmTrust e-Savings |
1.75% |
$1 |
N/A |
N/A |
| Countrywide Bank |
1.65% |
$10,000 |
N/A |
N/A |
*3-month bonus rate.
Any other better deal out there?
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