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.
Ally Bank 1.30%
WTDirect Savings Account 1.26%
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