Online Savings Accounts & Current Rates

[poundwise]

Re: Summary post of online MMA rates


Updated yields today (Friday, July 28):

Emigrant up to 5.15% APY
GMAC up to 5.10% APY
Allstate Bank up 4.25% APY


See the complete list

[fratkid21]

Re: Summary post of online MMA rates

and ING still at a measley 4.35, losing business by the second.... everyone i know has left them (all with 6 figure amounts)!

[poundwise]

Re: Summary post of online MMA rates


Update today:

Amboy up to 5.15%

See all rates here.

[brecklin]

Re: Summary post of online MMA rates

note:
yes OneUnited has the highest rate but its only compounded <b>quarterly</b>

[brecklin]

Re: Summary post of online MMA rates

and UFBDirect rate is 5.16%
but its compounded monthly

[poundwise]

Re: Summary post of online MMA rates

note:
yes OneUnited has the highest rate but its only compounded <b>quarterly</b>

This is irrelevant as the figures given are the annual yields, meaning compounding has already been factored in.

[poundwise]

Re: Summary post of online MMA rates

and UFBDirect rate is 5.16%
but its compounded monthly

UFBDirect's web site states:

"High Yield Money Market Savings, Rate 4.40%, APY 4.50%"

So I'm not sure where you are getting that figure from.

[Addendum: Ok, I see now that UFB offers a Jumbo MMA with that rate. However, the minimum balance required is $50,000 so it does even come close to qualifying for comparison on this list.]

[joseblanco]

Re: Summary post of online MMA rates

Yes, there are several banks that offer 5%+ but require huge minimums that I've never bothered to mention. USAA offers the same deal 5.14% for balances over 50k plus for the first 6 months if you open the account online via their website you get a bonus interest rate of 5.65% I do not think you have to be a member for USAA banking, but I do not know how you can sign up via the website without being a member.

[Ima saver]

Re: Summary post of online MMA rates

Bringing this topic up to the top! I am keeping track for when I sell my house.

[BTC]

Re: Summary post of online MMA rates

GMAC lowered their rate to 5.00% APY?

[fratkid21]

Re: Summary post of online MMA rates

hello all... i just noticed it too... GMAC lowered from 5.1 to 5.0...

question - i have an ED and HSBC, i left ING. I was now focusing on GMAC, but now am considering going with an alternative option... what do you all recommend as far as a solid bank, decent transfer times, with a good user interface (besides the ones i have mentioned above)???

is Amboy any good? other recommendations?

[poundwise]

Re: Summary post of online MMA rates


Amboy is fine. Certainly nothing special in terms of interface, etc.

Personally, if I were opening a new account I'd have to seriously consider OneUnited. Apple Bank looks good too.

[fratkid21]

Re: Summary post of online MMA rates

well, i really like GMAC because they have check writing and ATM access to you cash.... but, they have been plagued in the past with the poor earnings of GM and, now they are being sold to another financial group....

So with their decrease in rates, i am not sure what is happening, and really like the features that they have...

Has anyone else tried one united?

[poundwise]

Re: Summary post of online MMA rates

well, i really like GMAC because they have check writing and ATM access to you cash.... but, they have been plagued in the past with the poor earnings of GM and, now they are being sold to another financial group....

So with their decrease in rates, i am not sure what is happening, and really like the features that they have...

Has anyone else tried one united?

The news regarding GM's sell-off of GMAC is not only old, but inconsequential. If anything, the move makes GMAC stronger. This is a non-issue. However, I also do not see any reason why I would open an account with GMAC Bank at 5.00% (with minimum requirements) over the several other offerings now at 5.15% and up.

[poundwise]

Re: Summary post of online MMA rates

GMAC lowered their rate to 5.00% APY?

Yep. They were at 5.10% for less than two weeks. Kind of odd.