EmigrantDirect just dropped the rate on its AmericanDream Savings Account from 5.15% to 5.05% APY. The rate had been at 5.15% APY since July 28th.
This makes its rate equal to the HSBC Online Savings Account.
Topping the best interest rate list at the end of September is E-Loan at 5.50% with a minimum opening deposit of $5,000 but with a minimum daily balance of only $500. A possible drawback is that you can link your savings account to only one external account. There is no sign-up bonus at this time.
There is also the relatively new 5.27% APY Grand Yield Direct account offered by The Apple Bank For Savings. Check the sidebar for links to more information about this account.
This entry was posted
on October 1st, 2006 at 1:45 am
and last modified on February 7th, 2007 at 3:18 am, and is filed under Promotions.
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Savings plan
A systematic plan you use to save for a specific financial goal. If you have more than one financial goal, you may wish to set up a savings plan for each goal. First, review personal budget and personal cash flow to see how much you can save on a periodic basis. Next, pick a period in which you want to save the desired amount. Finally, estimate a realistic rate of return. It's important that you save regularly and avoid paying income taxes on your earnings, if possible. One way to do this is to contribute first to your employer's tax-advantaged retirement account and your state's qualifying 529 college savings plan.
