High Yeild Savings

Online Savings Accounts, the best way to save

Does this not sound a great deal " Get Paid to PArk your Extra Money"!

Opening an online savings account is a great way to earn some extra money on your cash balances. Most of these account are designed to “piggy-back” onto your existing checking accounts. If you don’t need the money immediately, you can transfer the money into the savings account, and when you do need it, you can transfer it right back. Sometimes you can even pay bills directly from the account.
While the following list isn’t exhaustive, it does hit most of the major ones

Brick and Mortar Banks
If you already have your checking at one of these banks with a significant number of physical branches, then it’s almost a no-brainer to open one of these up since you’ll be able to keep all your money at the same place and earn more interest at the same time.

Washington Mutual Special Savings Account

Summary: 5.00% APY, only $1 to open, no monthly minimum balance, links to WaMu Checking account, must open online to get high rate.


Citibank e-Savings Account

Summary: 4.50% APY, only $1 to open, no monthly minimum balance, links to existing Citi checking account or external accounts


Better RatesIf you don’t use one of the banks above or just want a higher rate, check out one of these banks:

FNBO Direct Savings

Summary: Intro 6% APY until 9/28, $1 to open, no monthly minimum balance, links to up to 3 external bank accounts

HSBC Direct Savings
Summary: 5.05% APY, $1 to open, no monthly minimum balance, links to up to unlimited external bank accounts

E-Loan Savings
Summary: 5.25% APY, $5,000 to open, $500 minimum balance to stay open, links to one external bank account

Emigrant Direct Savings
Summary: 5.05% APY, $1 to open, no monthly minimum balance, links to up to 4 external bank accounts

Old Faithfuls ING Direct was the one of the very first high-yield online savings accounts. Although their rates aren’t the highest anymore, lots of people still like them due to their good customer service, easy application, and being around successfully for so long (for an internet bank).
Summary: 4.50% APY, $1 to open, no monthly minimum balance, links to up to 3 external bank accounts

So hows the deal?