High Yield Online Savings Accounts

DISCLAIMER: ALL RATES ARE OUT OF DATE, AS OF JUNE 5, 2008! PLEASE CHECK WEBSITES OF THE BANKS FOR THE MOST UP TO DATE INFO!--> THANKS! Capital One offers 3.85% APY, no fees, free checks and ATM card, an automatic savings plan. $1 minimum to open. Rate is 3.00% on balances below $10,000. This is a money market account. WT Direct offers 3.56% APY, no fees. No minimum to open, but your interest rate drops to 0.50% if you don’t have a $10,000 balance after 60 days. Washington Mutual offers 3.55% APY on a special savings account that requires a $1 minimum to open. This account must be opened in conjunction with a WaMu Free Checking account. The accounts must be linked. If you close the checking account, you lose the 3.55% rate. E*TRADE Bank offers 3.15% APY, no fees, an automatic savings plan. $1 minimum to open. GRS readers do not like E*Trade, but my cousin loves them. FNBO Direct offers 3.25% APY, but there’s very little information available about the account without signing up. $1 minimum to open. Citibank Direct offers 3.25% APY, no fees. No minimum. To earn this rate, you have to meet certain bill-payment requirements, otherwise your rate is 3.25%. GRS readers do not like Citibank Direct. HSBC Direct offers 3.50% APY, no fees, web interface. $1 minimum to open. Named “best online savings account” by Kiplinger’s Personal Finance. GRS readers have mixed experiences with HSBC Direct. ING Direct offers 3.00% APY, no fees, an automatic savings plan, web interface. No minimum. GRS readers love ING Direct. (Note: I’ve created a new thread where you may swap ING Direct referrals.) Emigrant Direct offers 3.00% APY, no fees, web interface. No minimum. GRS readers like Emigrant Direct. AmTrust Direct offers 3.00% APY, “no monthly service fee or minimum balance fees”. $1 minimum. This is a money market account. Countrywide Bank offers a variable rate, from 3.00% to 4.05% APY. $1,000 minimum to open. Rate is 3.00% on balances below $10,000. ***** There is a $25 bonus for opening a ETRADE Complete Savings Account. Google it and get free money!