Online Savings Accounts & Current Rates

[sweeps]

GMAC also down to 4.5%.

[savingtaker]

Apple Bank is 5.00%.

[Skooby]

GMAC also down to 4.5%.

dammit!

[Newbie]

Citibank with some MAJOR slashing. Ultimate savings is down to 4.00 APY (from 4.50)

[poundwise]

I'm back.

Here are the updates made today, November 7th:

iGOBanking down from 5.17 to 5.00
Apple Bank down from 5.15 to 5.00
Presidential Bank down from 4.90 to 4.60
Capital One down from 4.75 to 4.50
GMAC down from 4.75 to 4.50
ING down from 4.30 to 4.20

Zions Bank and Citibank Ultimate have dropped to 4.08 and 4.00 respectively and no longer qualify for this list.

Presidential Bank still maintains an eyesore of a web site and, in fact, as of the time of this posting still states a rate of 4.90% in the title of the site but shows the newer, lower rate of 4.60% on the page itself. Despite the lack of web savvy, Presidential is well-regarded by its customers. Perhaps a little less so with this second significant rate drop in a relatively short time-frame.

ShoreBank, which is a new addition with a current rate of 5.00%, is now also offering a $25 bonus for new accounts. According to the fine print, you only need to open the account and maintain it for 60 days, with as little as $1, to qualify for the bonus.

For more details or to examine all of the accounts, please return to the first post in this thread.

Thank you to everyone who contributed information. Does anyone know of any CD rates that top the ones currently listed?

[poundwise]

Interest Checking updates 11/09 --

ING down from 3.50% to 3.25%

Everbank adjustment from 3.00% APY to 3.01% (for accounts up to $10K; accounts $10K+ earn 3.10%+)

[poundwise]

CD rates updated today, 11/09. There were multiple changes in rates, new rate leaders, and a new institution added.

This is the list that is the most difficult to maintain as there are so many CD offers at various terms and minimums. Please post any additions or corrections, particularly as you find or as banks announce better rates, so that the list may always be as up-to-date as possible.

[savingtaker]

Wamu dropped to 4.75%. That link on the first post still shows 5%, but if you try to sign up, it says 4.75%.

[poundwise]

Wamu dropped to 4.75%. That link on the first post still shows 5%, but if you try to sign up, it says 4.75%.

The 5.00% rate was for an offer requiring the opening of both a WaMu checking and online savings account. That offer may no longer be valid. In fact, I suspect that it isn't. As you point out, the online savings account itself is now offering 4.75% so I've updated the list here accordingly.

Thank you.

[sweeps]

Warning: There is a rumor going around the Internet saying that ETrade may go bankrupt soon. Make sure you are below FDIC limits if you have checking or savings deposits with them.

[Thrif-t]

I have a question. I want to open an online savings account and as long as its FDIC insured I'm good to go right? I mean some of these I've never heard of but if the interest rate is high and they're FDIC insured is there any thing else I need to be worried about? Thanks

[sweeps]

If the account is FDIC insured and you're under the limit of the FDIC maximum (generally speaking $100,000 but could be more depending on the situation), you're safe. You may, however, have to wait a few weeks before you can get access to your money in the case of a bank failure.

[krayziebone33]

If the account is FDIC insured and you're under the limit of the FDIC maximum (generally speaking $100,000 but could be more depending on the situation), you're safe. You may, however, have to wait a few weeks before you can get access to your money in the case of a bank failure.

Sweeps is absolutely correct, but I still want to caution you. Just because a bank has a high APY and is FDIC insured does not mean that you shouldn't be diligent in researching them and getting to know as much as you can about them (i.e. when they were established, what they offer, fee schedules, etc.). Often times, something good or bad will stand out during your research that will incline you to either open the account with a certain institute or to keep looking around for something else.

[Thrif-t]

Sweeps is absolutely correct, but I still want to caution you. Just because a bank has a high APY and is FDIC insured does not mean that you shouldn't be diligent in researching them and getting to know as much as you can about them (i.e. when they were established, what they offer, fee schedules, etc.). Often times, something good or bad will stand out during your research that will incline you to either open the account with a certain institute or to keep looking around for something else.

I was specifically interesting in the site, Igobanking.com, i've seen a few commercials on them but haven't really heard people talking about them. I'll see what more I can find out on my own. thanks

[poundwise]

I was specifically interesting in the site, Igobanking.com, i've seen a few commercials on them but haven't really heard people talking about them. I'll see what more I can find out on my own. thanks

"iGObanking is a division of Flushing Savings Bank, a New York based Financial Institution founded in 1929."