Introducing: Deal of the Day
Posted on 25. Jan, 2006 by Jason Guthrie in Saving & Investing
While browsing every day I inevitably come across at least one great deal each day. And since this blog is dedicated to helping you make, and save, your money – I thought that sharing with you my “Deal of the Day” would help that cause.
Today’s Deal of the Day: Super-Duper Savings Accounts
Why is everyone looking for CDs and Money-Market Funds? Because interest rates have been so low that keeping money in the bank has been a joke. Well, if you’re looking for a decent yield on a savings account take a look at Internet banks.
Several banks are offering annual percentage yields (APYs) of 4% or more – which is significantly better than most traditional banks who are offering around 1% according to Bankrate.com. The average one-year CDs which are much less flexible than savings accounts, are earning around 4.2%.
The following is a list of Internet Banks and their appropriate interest rates. The accounts are easy to set up and easy to transfer money to and from your normal checking account.
| Bank | APR | Minimum Deposit | Other Details |
|---|---|---|---|
| HSBCdirect.com | 4.25% | $1 | No fees or service charges.
You can opt to get an HSBC ATM card linked to your account. |
| First Fed Direct | 4.25% | $1 | No fees or service charges. |
| Emigrant Direct | 4.00% | $1 | No fees or service charges. |
| ING Direct | 3.80% | $1 | No fees or service charges.
You’ll get $10 for each friend you refer who opens an account with an initial deposit of $250 or more. |
* Rankings provided by Bankrate.com’s Money Market/Savings Account 100 Highest Yields
- My Experiences with Mutli-Level Marketing Brainwashing
- Question of the Day: How Much Do You Tip Carside-to-Go?
- 12 Daily Pro Update: Charis Johnson Speaks from the Dead
- Open Up a KeyBank Account – Get a Free iPod Nano
- Economic Stimulus Package: Where’s My Money!?
-
The Dangers of Automated Trading Orders
-
SpongeBob SquarePants: The Largest Penny Stock Fraud Ever
-
Goldman Sachs Senate Hearing – Uncensored
-
Time To Review Your W-4 Exemptions
-
Book Review: Secrets of a Stingy Scoundrel
Trackbacks/Pingbacks
[…] I wrote about Super Duper Savings Accounts a few weeks ago and included ING Direct’s savings account on the list – but they have improved their savings account even more. Through April 15th, new deposits will benefit from a 4.75% interest rate. If you have been thinking about investing in an internet savings account (which I highly recommend) then now’s the time to do it. Check out the details here. Bookmark on del.icio.us […]