Online Savings Accounts & Current Rates

[weissheit]

Originally Posted by m3racer

SS down to 3.05% APY

Yes, a handful of the members of the list have lowered rates after the lastest cut. The good news is that its not as many as in the past and not that drastic of a cut. WSJ & CNN have had a few more articles on low savings and CD rates, but for now if you go w/ Unity, Provident or Century direct you'll get mid 3% range which is about the best you can expect while retaining liquidity and having your money FDIC insured.

[poundwise]

Updates: Friday, May 9


APY drops --

Century Bank (Savings) down from 3.61 to 3.41
UFB Direct down from 3.35 to 3.01
SavingsSquare down from 3.25 to 3.05
Apple Bank down from 3.00 to 2.75
Ultima Bank down from 2.75 to 2.70
Presidential down from 2.75 to 2.60


APY increases --

ETRADE up from 3.01 to 3.15
ELOAN up from 3.00 to 3.01
Univest Direct up from 2.75 to 3.00


New additions --

Century Bank (Money Market) at 3.57


Removed --

Zion's Bank for rate drop to 2.53 and now requiring a balance of $2,500 to even earn that



See first page of this thread for complete listing, account details, and links; sorted by current APY.

[BTC]

I'm jumping all over that E-LOAN increase. Who's with me?

[poundwise]

Originally Posted by BTC

I'm jumping all over that E-LOAN increase. Who's with me?

hehe

[DayByDay]

hehe. I have an e-loan account and had noticed the whopping increase.

[m3racer]

Originally Posted by BTC

I'm jumping all over that E-LOAN increase. Who's with me?

LOL

[ZenQueen50]

Glad to know Univest increased theirs, as I have a savings and checking with them. For me, if the institution I bank at offers below 3.1%, I'm outta there. The exception is ING. Their features for doing anything and everything is "stupid simple."

[sweeps]

Originally Posted by BTC

I'm jumping all over that E-LOAN increase. Who's with me?

It gets worse. E-Loan just announced a new promotion where new customers get 3.75% (w/$5000 minimum). If you're a loyal existing customer, you're stuck with 3.01%.

[weissheit]

capital one has a savings account at 3.75% if you have 10k or more; 2.75% if under 10k.

Amex one card's high interest savings is down to 2.75%

[noppenbd]

AARP has a new high-yield savings account with 4.50% APY, and 4.75% for balances upwards of $50K. You need to be an AARP member to open an account (age 50+ I think).

[weissheit]

Just got an e-mail notification today from Provident Bank. Effective Monday May 19, 2008 provident direct APY will be 3.5%

[weissheit]

AARP financial services' products, e.g. their high interest savings account, is open to all members, associate or full. The distinction being that full membership requires one to be 50+ years plus.

The high interest savings is FDIC insured and managed by Huntington Bank of Ohio which has a bankrate safe & soundness rating of 3/3stars. This is a middle the road rating that I consider minimally acceptable in a bank for my money.

[Aleta]

I don't think that 3 stars is a bad rating. It means that they are functioning which is better than most banks today. I don't think that you can do too much better in lieu of all of the home bank loans. Some of the banks that have high ratings don't seem to pay as well.

[Aleta]

I don't know if this was listed but TD Ameritrades Money Market Deposit Account went from 2.25% fo 2.00APR/ 2.02%APY. as of May 1st. This one is the one that Suze Orman uses for the Save Yourself Plan.

[Aleta]

AARP's High Yield Savings Account has dropped its rate from 4.50 to 4.05 for new applicants as of the 24th. I called and they said that if you were excepted before the 24th that you will receive the 4.50 rate, which is subject to change.

[Ima saver]

I wish AARP would let you open an account by mail.

[weissheit]

Originally Posted by Aleta

AARP's High Yield Savings Account has dropped its rate from 4.50 to 4.05 for new applicants as of the 24th. I called and they said that if you were excepted before the 24th that you will receive the 4.50 rate, which is subject to change.

Well its still the best rate out there & if its just your liquid funds (every day & rainy day 3-6 months of income) then it preserves your cash's purchasing power more so than anyone else. Unity gold is 3.6%, century direct is at 3.57% and provident direct is at 3.5%, thus AARP is 45-55 basis points ahead of them all. The 4.5% would have been nice but I just got the membership submitted the other day.

[Aleta]

If you got it in before the 24th, you will qualify for the older rate. You can call and they will tell you which rate you received.

To Ima: I know that you go online to input your information but you can send checks in and they also offer a service from the UPS Store that allows you to make your initial deposit without any charges. They also send you deposit and stamped envelopes for future deposits.

You could call AARP to see if they have any other arrangements for new customers.

[BTC]

Does anyone know for certain whether you have to be 50+ years old to qualify for the AARP accounts?

[poundwise]

Originally Posted by weissheit

capital one has a savings account at 3.75% if you have 10k or more; 2.75% if under 10k.

Or, as listed, a high yield money market at 3.00% with no minimum and no fees.

I will add a note to the listing that if you have more than $10K they offer an account at a higher rate.