Online Savings Accounts & Current Rates

[MonkeyMama]

GMAC - 3.25% for "online savings"

This is a new product - their "money market savings" is 2.75%

I was actually posting this so you could update Page 1 - I swear the "online savings" came with minimums and fees when first offered a couple of months ago. BUT I looked on their website and it seems those fees and minimums have been removed. So, nevermind I guess - but may want to correct the name of the account.

ETA: So I am not crazy - originally was a $500 minimum, but they have removed that. Awesome!

[weissheit]

I just saw the ING direct banner, popped over to post that it has dropped but everyone beat me to the punch.

I guess several banks optioned to drop all their rates today, its as if it was a competition.

I think GMAC had just bumped it up to 3.75% no more than a week or so ago. We all just bailed them out and their response is "We don't need your money now, we got your money already on the cheap from Uncle Sugar".

I'm going with Emigrant Direct's Dollar Savings Direct. I do not mind the 1k minimum.

[aurielle]

I knew it!! HSBC is now at 2.65% I had a feeling they were going lower when I saw them advertising their 6 month CD's at 2.75%

[SacredFaerie]

I'm with Savings Square right now. I'm trying to re-align everything and get stuff in a good position for me.

[poundwise]

GMAC - 3.25% for "online savings"

This is a new product - their "money market savings" is 2.75%

I was actually posting this so you could update Page 1 - I swear the "online savings" came with minimums and fees when first offered a couple of months ago. BUT I looked on their website and it seems those fees and minimums have been removed. So, nevermind I guess - but may want to correct the name of the account.

Thanks for the note. I've changed the link and added a second GMAC link so that both the "Online Savings" and "Money Market Savings" appear on the list properly.

[poundwise]

LIST UPDATED TODAY

Provident Direct down from 3.75 to 3.25
EverBank down from 3.42 to 3.18 (Three month promo rate down to 3.76)
Heartland down from 3.05 to 2.55
Amboy Direct down from 3.05 to 2.79
M&T Bank down from 3.00 to 2.75
Apple Grand Yield Direct down from 3.00 to 2.75
ING Direct Orange down from 2.75 to 2.50
AARP down from 2.50 to 2.00


GMAC Bank account listing(s) updated to reflect two offerings:

GMAC Bank Online Savings @ 3.25
GMAC Bank Online Money Market @ 2.75

The difference, besides the APY, is that the latter offers access to the account via checks and/or a Check Card


SEE LIST ON PAGE ONE FOR FULL LISTING

[poundwise]

LIST UPDATED TODAY

EverBank down from 3.42 to 3.18 (First three months rate now 3.76)
HSBC down from 3.00 to 2.60
EmigrantDirect down from 2.75 to 2.50
Capital One down from 2.75 to 2.10

[scfr]

Here's one for the list:

Amegy Bank of Texas
2.50% APY (3.00% APY with $10K or more)
$1,000 to open, earn APY, and avoid fees

I've been keeping an eye on these guys for months now and their rates have stayed consistently high.

Amegy Bank

[poundwise]

I've not done a new update yet, but here's one I just had to add to the list.

Redneck Bank Mega Money Market 3.10% APY

Yep, they're a real bank.

[hmd2009]

I'm sticking with Dollar Savings Direct. They've maintained their 4.0% for a bit, now.

[poundwise]

I'm sticking with Dollar Savings Direct. They've maintained their 4.0% for a bit, now.

Yes, that is still the best rate going.

[poundwise]

LIST UPDATED TODAY

Added:
Chesapeake Bank at 3.75%
Bank of Internet High Yield Savings at 3.51%
CNB Bank Direct at 3.50%

Updates:
Bank of Internet Money Market Savings down from 3.26% to 3.06%


Note: I need to to add a couple of additional accounts, including the one suggested by the poster above, but I am waiting on a technical issue to be resolved first.

[poundwise]

Issue resolved.

LIST UPDATED TODAY

Added:
Alliant CU at 3.25%
IndyMac FSB at 2.60%
Amegy Bank at 2.50%
Doral Direct at 2.25%


SEE PAGE ONE FOR COMPLETE LISTING

[poundwise]

The account list has been culled a bit as I am tweaking the criteria for listing.

From this point forward, this list will contain only those accounts that require no more than $1,000 to open, earn the stated APY, or avoid minimum balance fees.

As a result, the following accounts have been removed (reason stated):

Wachovia (requires $2,500 to avoid fee)
Everbank (requires $1,500 to start, $1,500 to avoid fee)
Zions Bank (requires $2,500 to start, $2,500 to earn stated APY)
ELOAN (requires $5,000 to start, $5,000 to earn stated interest)


This listing now contains 40 different account offerings ranging from 2.00% APY to 4.00% APY. Each of these accounts meets the $1,000 test for opening, earning the stated APY, and avoiding fees.

[saverbootay]

I'm with Savings Square right now. I'm trying to re-align everything and get stuff in a good position for me.

Savings Square is at 3.3% now. That sure didn't last very long....

Looks like Union FSB dropped to 3.3% as well.
Bank direct Century is 3.32.