Best Savings Accounts Update
If you are looking for the best savings accounts update, you will find the current rates still not as good as they were in the past. The general trend is still down and a 2% yield is hard to find.
Sallie Mae’s High-Yield Savings Account lets you earn a competitive rate with an APY that is six times higher than the national average. There is no minimum balance, no minimum to open, and there is no monthly fee but you must have funds in your account in order to earn the 1.40% APY. They also have a 10% annual match on Upromise Earnings if you link your High-Yield Savings Account to your Upromise Account. This rate is posted June 6, 2010 and is still current and effective July 23, 2010.
EverBank’s Yield Pledge Money Market lets you earn a yield in the top 5% of competitive accounts. It has a minimum opening deposit of $1500 to earn a high yield, first-year 1.51% APY for new accounts with balances $50,000 or less. What’s more, the new account has a 3-month bonus rate of 2.25% APY offered to first time Yield Pledge Money Market Account holders. The first-year APY defines the total annual yield earned by combining the current 3-month bonus rate and 9 months of the current yield rate. This rate is posted July 23, 2010.
SmartyPig beats other traditional bank savings account easily with its 2.15% APY. Since it is a social savings vehicle, other people (like your friends and/or family members) can also contribute to your savings goal, aside from you the account owner. If you make a $25 initial deposit and set aside a pre-set amount each month, then SmartyPig actually makes a good choice to receive a higher return for your money, though there are a few more restrictions than traditional savings accounts have. SmartyPig is backed by a traditional bank, West Bank in Iowa. This rate is posted July 23, 2010.
These institutions have online banking so it will be convenient for you to visit their websites to learn more about their respective savings accounts.
For those who cannot risk putting their hard-earned money in a short-term investment with almost the same yield, the best savings accounts update may just provide some options for your money in this tough economic environment.
For additional resources involving financial help, please view Best California Banks on this website. On our sister site, there are CD rates from a bank in Best CD Rates – Week of July 19.
We strive to bring you the latest and most accurate data possible from the home sites of the financial institutions we name. Always remember, the bigger the risk, the larger the reward or loss. Invest with caution.
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Mon, 26th Jul 2010 6:07 am
[...] additional resources involving financial help, please view Best Savings Accounts Update on this website. On our sister site, there is Where To Find The Best CD [...]
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