Comments on: Online Bank Interest Rates (Updated!)

By: Tim

Tim — Tue, 08 Sep 2009 01:34:58 +0000

American Express (www.americanexpress.com/startsaving) now offers a 1.85% APY high yield savings account.

By: LOL

LOL — Mon, 08 Jun 2009 18:07:02 +0000

According to bankrate.com, EverBanks 3.01% rate is just a 3-month “teaser” rate — after which it resets to 1.64%…

You should move Everbank down into the middle (I know you have the footnote, but still…)

By: Kris

Kris — Wed, 22 Apr 2009 21:22:51 +0000

I’m using GMAC Bank online with 2.25%, still one of the best rates around. And even though some might shudder at GMAC, it is FDIC approved and as long as you don’t have more than $250K, you’re safe!

I really find it very good – you can add a number of external accounts, transfer money to and from (outflow has a cap of 6[I think], but that is generally true for nearly all others), interest monthly, user friendly UI, just a dollar for opening.

By: Micki

Micki — Wed, 22 Apr 2009 19:58:54 +0000

I have a smartypig account and the only “strings” i have found are that you can’t transfer money FROM your smartypig account unless you withdrawal everything, and they only pay interest quarterly. Oh well -small prices to pay for the high interest rate

By: Graham

Graham — Sat, 18 Apr 2009 06:07:54 +0000

Nickel: Great area for online account feedback. Thx. I went through the smartypig.com site and don’t see the strings you refer to – pls. clarify.

By: Nickel

Nickel — Tue, 24 Mar 2009 13:51:01 +0000

Regina: Too many strings for me. When I want a bank, I want a bank.

By: Regina

Regina — Tue, 24 Mar 2009 13:49:59 +0000

What about http://www.smartypig.com? Although marketed as a social networking/savings vehicle, it is FDIC insured (it’s the online component of West Bank in Iowa I believe)- but if you set a savings goal and have a monthly withdrawal, it looks like their rate is 3.5% and that’s not an intro rate!!!
Any thoughts about this site???

By: Stacey

Stacey — Sun, 22 Feb 2009 06:32:17 +0000

Danversbank has an online 4 month CD with an APY of 3.30 and
have a 4 star rating at bankrate.com. I’m on the West Coast and
can’t find any rates over 2.75. Anyone have an account with Danvers?

By: Matt

Matt — Thu, 19 Feb 2009 20:06:50 +0000

I will recommend http://www.provident-direct.com again. I’ve been with them for almost 1 year now. They just recently dropped to 2.82% and were all the way at 4.75% last year around this time. The drops have been steady and they always seem to stay ahead by 0.5-1% of everyone else out there! FDIC insured.

By: Jacqui

Jacqui — Thu, 19 Feb 2009 19:27:01 +0000

E*Trade dropped again too – now 2.15% Wonder if that’ll last?

Even my favorite Century Bank Direct finally started dropping
Savings: 2.74%
Checking: 2.34%
Money Market: 2.59%

By: Dawn

Dawn — Thu, 19 Feb 2009 19:21:13 +0000

Looks like ING has dropped again — down to 1.85%. Their rate dropping rate is faster than once per month. Much lower and I’m going to seriously start questioning the word “high” in “high interest rate savings account!!!” Time to find new places to put my money, I think…

By: Kris

Kris — Wed, 11 Feb 2009 05:03:14 +0000

CNB Bank is still offering 3.2%. Any idea how they rank? Didn’t find any hidden clauses … cnbbankdirect.com

By: Archangel

Archangel — Sat, 07 Feb 2009 15:42:51 +0000

Liz and MITBeta — Looks like Everbank improved signficantly. They’re now four stars. That wasn’t the case in December 2008.

By: Mike

Mike — Tue, 03 Feb 2009 15:38:50 +0000

Union Federal Savings Bank (www.unionfsb.com) is currently at 3.01%. Minimum to open an account is $1, I believe.

By: deedee

deedee — Tue, 03 Feb 2009 13:40:38 +0000

When I logged into my ING savings account this morning; it appears that the rate has dropped again…to 2.2%.

boo hoo

By: nickel

nickel — Mon, 02 Feb 2009 21:31:46 +0000

Your wish is my command. Everbank is now included.

By: Mark

Mark — Mon, 02 Feb 2009 16:40:33 +0000

Thanks for the info on E trade as I was considering them. With that kind of a rate drop I am taking them off the list. I am enrolling in Dollar Savings. I think I will also open IGO banking

By: nickel

nickel — Mon, 02 Feb 2009 14:56:07 +0000

unimax: It’s dropping at close of business today. No sense in showing it higher since people who open an account now will never get the higher rate.

By: unimax

unimax — Mon, 02 Feb 2009 14:41:19 +0000

Etrade website still mentions the rate as 3.01. Why do you show it lower?

By: MITBeta @ Don't Feed the Alligators

MITBeta @ Don't Feed the Alligators — Mon, 02 Feb 2009 01:07:48 +0000

As a current Everbank customer, I would also like to know if there’s a reason I should be concerned with Everbank.

By: Liz

Liz — Sun, 01 Feb 2009 16:01:50 +0000

I did look at bankrate.com and that is why I asked, why not Everbank? – it has one of the highest safety ratings on bankrate, higher than some of the other banks mentioned in this thread.
Am I missing something? If so pls send a link or quote!

By: Archangel

Archangel — Sun, 01 Feb 2009 15:52:41 +0000

I highly recommend looking at Bankrate.com’s Safe&Sound report before making your deposit. I think it will answer some of the questions here such as “Why not Everbank?” The information is unbiased and based on FDIC data. I decided against banks such as Everbank, Emigrant (which looks like it’s near collapse), and WaMu based on this information. And I withdrew all of my money from AmTrust for the same reason.

By: Dawn

Dawn — Fri, 30 Jan 2009 20:54:47 +0000

Actually, ING is down to 2.40% now.

By: Matt

Matt — Sun, 25 Jan 2009 01:42:17 +0000

I’ve been with provident-direct for almost a year, started at 4.5% lowered to 3.75 than 3.5 and now 3.25 but it has been a steady decrease with the economy.

By: liz

liz — Mon, 19 Jan 2009 22:44:22 +0000

why don’t you include Everbank on your list of rates?

By: Tim

Tim — Sun, 11 Jan 2009 03:27:36 +0000

my last cd matures in two days. i’m going to put them into the market. i’d rather get over 4% dividend in a good company that has good earnings prospects than lock into a cd again. then again, i have cash in tax-exempt mmf account.

By: MJ

MJ — Sat, 10 Jan 2009 04:40:09 +0000

Just upgraded IRA accts from 3.20 rate and purchased two jumbo CD’s from Alliant Credit Union with a 4.50% APR – 48 moths. Minimum deposit was 25K each. Looks like it was a very good move.

By: Mike

Mike — Wed, 07 Jan 2009 18:18:42 +0000

Right on Unimax… It’s 2009. A lot has changed since 09/2008. Perhaps 0$Nickel went Bankrupt.

By: unimax

unimax — Tue, 06 Jan 2009 15:20:30 +0000

Thanks for keeping on top of this.

By: Jacqui

Jacqui — Tue, 06 Jan 2009 03:36:57 +0000

Happy to report that Century Bank Direct still hasn’t lowered their rates! Oddly enough, their CDs have actually dropped below their normal account yields.

By: Jeff

Jeff — Tue, 06 Jan 2009 00:47:49 +0000

Dollar Savings Direct has a 4.0% rate with a min of a 1000.00 and also a promise to be in the top 5%.

By: nickel

nickel — Wed, 24 Sep 2008 21:56:20 +0000

FlatGreg: No reason, just an error on my part. Thanks!

By: FlatGreg

FlatGreg — Wed, 24 Sep 2008 18:54:45 +0000

Any reason why HSBC is listed above WT and Etrade when it has a lower rate?

By: Ziggy

Ziggy — Wed, 24 Sep 2008 12:13:37 +0000

How about a Vanguard tax-exempt money market fund. Around 4% with the tax advantage.

By: Lau

Lau — Tue, 23 Sep 2008 18:12:54 +0000

E-Loan used to have a decent rate. I opened an account about 18 months ago with a 4.5%. We are now at 1%… ridiculous

By: Jacqui

Jacqui — Tue, 23 Sep 2008 17:38:36 +0000

I’m happily getting the following rates on my accounts at Century Bank Direct. I have one of each kind.
Checking: 3.35%
Savings: 3.41%
Money Market: 3.57%
You read that right – I’m earning more on my CHECKING account than ING pays on savings. Century Bank Direct rocks

By: Budgets are Sexy.

Budgets are Sexy. — Tue, 23 Sep 2008 15:18:05 +0000

I’m in!!!! can i borrow $10,000?

By: MITBeta @ Don't Feed the Alligators

MITBeta @ Don't Feed the Alligators — Tue, 23 Sep 2008 14:44:43 +0000

Everbank is offering 4.65% for 3 months and then 3.82% APY thereafter with a “yield pledge” guarantee that they will stay in the top 5% of the yield of leading banks.

I’ve been very happy with Everbank for over a year now.

By: Jake

Jake — Tue, 23 Sep 2008 14:15:36 +0000

Thanks for this post, and all your posts for that matter! You feel comfortable having your money in the WaMu account despite all the recent rumors/turmoil/etc?