As of February 18, 2010, these are the highest savings account rates that can be easily achieved online without geographical restrictions, credit union restrictions, military service requirements, etc. While these interest rates may seem somewhat anemic, they are actually among the highest in the country given a 0% Fed Funds rate and the cost structure benefits of online banking over conventional brick and mortar outfits. The nice thing is that the interest rates on these larger established banks have been relatively steady compared to some other bait and switch banks I’ve seen that offer rates significantly higher than the market rate, then precipitously cut the rate once you’re there. All of these savings accounts are FDIC insured up to $250,000.
EverBank 1.51%
Ally Bank 1.30%
WTDirect Savings Account 1.26%
ING – The Orange Savings Account 1.15%
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Wow, those rates are so painfully low Darwin
No wonder why so much money is flowing back into real estate and the stock market!
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They are low – Emigrant Direct has a 1.70% rate. I’ve been using them for about 3 years, and they’re good. I also have an ING account, but haven’t used it lately, since Emigrant is always higher.
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Good grief. What a joke. Our financial system is screwed
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So sad isn’t it… It’s so important to learn to invest well.
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I’ve moved our emergency fund to Smarty Pig since it’s paying 2% right now and also FDIC insured. The rest of our money is still in ING.
The only really weird thing about Smarty Pig is that you can’t withdraw just a little of your money…you have to close out your “goal” and withdraw it all. Not that big of a deal to me since it’s our emergency fund and I don’t plan on withdrawing it at all anytime soon. Plus you can always just start a new goal with any excess money…
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