Online Savings Accounts & Current Rates

[ThriftoRama]

I have online savings accounts with Emigrant Direct and ING. I have been happy and impressed with both. They are both easy to use.

[weissheit]

4% savings & 3.35% checking w/ Century Bank Direct They are a new entrant in the online savings market. Nice article in today's WSJ about how savers are feeling the pinch, in the personal journal page D1. I'd post the link but I am too "young" to do that right now!!

[Pitman]

Nice article in today's WSJ about how savers are feeling the pinch, in the personal journal page D1.

Thanks for the heads up.

Here's the link in the WSJ:

Savers Feel Pinch Of Tight Credit - WSJ.com

Very Good Read

Also from the article:

[BTC]

E*Trade Savings is down to 3.01% APY.

[sweeps]

Slightly off-topic, but sounds like a very good deal for Countrywide customers:
Bank Deals - Best Rates and Deals: 2% Cash Back Credit Card at Countrywide Bank with Savings Account

[poundwise]

List updated today, April 3rd:

Provident Direct down from 4.50 to 3.75
Shore Bank down from 4.15 to 3.50
Umbrella Bank down from 3.90 to 3.50
Zions Bank down from 3.87 to 3.05
iGOBanking down from 3.86 to 3.28
Amboy Direct down from 3.65 to 3.05
WaMu down from 3.55 to 3.30
Apple Bank down from 3.50 to 3.00
KeyDirect down from 3.50 to 2.75
M&T Bank down from 3.45 to 3.25
E*TRADE down from 3.45 to 3.01
Ultima Bank down from 3.10 to 2.90
ELOAN down from 3.00 to 2.75

[BTC]

E*Trade's Max Rate Checking is yielding 3.25% for balances of 5K+. I just moved all of my E*Trade savings into my E*Trade checking. I expect those rates to drop accordingly.

[sweeps]

BTC = Bank Transfer Curse

[weissheit]

List updated today, April 3rd:

Provident Direct down from 4.50 to 3.75
Shore Bank down from 4.15 to 3.50
Umbrella Bank down from 3.90 to 3.50
Zions Bank down from 3.87 to 3.05
iGOBanking down from 3.86 to 3.28
Amboy Direct down from 3.65 to 3.05
WaMu down from 3.55 to 3.30
Apple Bank down from 3.50 to 3.00
KeyDirect down from 3.50 to 2.75
M&T Bank down from 3.45 to 3.25
E*TRADE down from 3.45 to 3.01
Ultima Bank down from 3.10 to 2.90
ELOAN down from 3.00 to 2.75

Looks like the latest entrant into the online saving account market, Century Bank Direct, is the market leader in a virtual tie w/ OneUnited.

[BTC]

BTC = Bank Transfer Curse

True. The nice thing in this case is that there is no float time.

[BTC]

I'm not sure whether it's been reported, but OneUnited lowered their yield to 3.60%.

[weissheit]

I'm not sure whether it's been reported, but OneUnited lowered their yield to 3.60%.

Looks like that leaves century bank direct as the market leader on rate w/ Provident Direct 25 basis points behind in second place.

[weissheit]

Century bank direct 3.82 % APY MMA; 3.61% APY Online Savings; 3.35 % APY Online Checking.

[sweeps]

New bank: OnBank 3.49% (More info)

[weissheit]

FYI, local radio station to Metro DC (WTOP 103.5 FM) stated provident bank recently had to take write downs on bad mortgages and issue stock to raise capital.