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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Interest-bearing Checking Accounts
In contrast to "no frills" accounts, these offer a more comprehensive set of services, but usually at a higher cost (see InvestorGuide University: Choosing a Bank). Also, unlike a basic checking account, you are usually able to write an unlimited number of checks. Checking accounts which pay interest are sometimes referred to as negotiable order of withdrawal (NOW) accounts. The interest rate often depends on how large the balance in the account is, and most charge a monthly service fee if your balance falls below a preset level.
