Best High Yield Savings Accounts
The best high yield savings accounts depend on what restrictions you are willing to live with. The money market accounts tend to give the better rates but federal restrictions only allow 6 transfers and withdrawals per month. This is logical since the reason for a savings account is to save your money and not be spending it.
The best current rate on a savings account is from EverBank with a promo for 3 months at 2.51% APY, and then it drops to 1.77%. Next is ShoreBank Direct with their online savings account at 2.15% APY.
WestBank offers an online account called SmartPig. This account does require a monthly contribution to be added to the account, but the APY is at 2.01%. Discover bank and UFB Direct both offer an online savings account at 1.85% APY. Virtual Bank offers an emoney market account at 1.82% with a $100,000 deposit. 1.81% is offered by AIG bank with a deposit over $250,000.
1.80% APY is offered by Ally bank with their online savings accounts. This is with a $0.00 minimum deposit. But to take advantage of this rate, money must be in the account.
All of these Bank Rates were posted on 10/7/09 and are current. Rates are subject to change without prior notice. Depending on how you wish to save will depend which financial institution you may use. With the current economic recession still in full swing, just because the financial institution is large does not mean it is sound. Do your research and know who you are placing you money with before making a deposit.
These are the best high yield savings accounts as of 10/8/09.
The best high yield savings accounts depend on what restrictions you are willing to live with. The money market accounts tend to give the better rates but federal restrictions only allow 6 transfers and withdrawals per month. This is logical since the reason for a savings account is to save your money and not be spending it.
The best current rate on a savings account is from EverBank with a promo for 3 months at 2.51% APY, and then it drops to 1.77%. Next is ShoreBank Direct with their online savings account at 2.15% APY.
WestBank offers an online account called SmartPig. This account does require a monthly contribution to be added to the account, but the APY is at 2.01%. Discover bank and UFB Direct both offer an online savings account at 1.85% APY. Virtual Bank offers an emoney market account at 1.82% with a $100,000 deposit. 1.81% is offered by AIG bank with a deposit over $250,000.
1.80% APY is offered by Ally bank with their online savings accounts. This is with a $0.00 minimum deposit. But to take advantage of this rate, money must be in the account.
All of these Bank Rates were posted on 10/7/09 and are current. Rates are subject to change without prior notice. Depending on how you wish to save will depend which financial institution you may use. With the current economic recession still in full swing, just because the financial institution is large does not mean it is sound. Do your research and know who you are placing you money with before making a deposit.
These are the best high yield savings accounts as of 10/8/09.
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One Comment on Best High Yield Savings Accounts
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Best Savings Account Rates on
Thu, 8th Oct 2009 3:25 pm
This is correct if we want to yield more interest then we shall have to put some restrictions on our lifestyle. Moreover, if banks wanted to give more interests then too they can not do so, as government has some restrictions over them, and hopefully these are right too.
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