Dime Savings Bank Ct

Which Online High-Yield Money Market & High-Interest Savings ...

I’ve heard a lot of people mention their online high-yield savings account, but I’ve never bothered to look into them. It occurred to me today that it’s ridiculous to keep my “web money” in a no-yield checking account at Wells Fargo. As my blog revenue grows, I’m throwing away money by not having my savings someplace that pays. So how does one find the highest interest savings accounts? I did some research. I googled for “high yield savings account” and “ money market account ” and followed promising links (and ads) from the search results. Here are the offers that I was able to find with minimal digging. All of these accounts are FDIC insured and, unless otherwise noted, can link to other bank accounts (your local credit union, for example). CD Rates are maintained on a separate page. for online banks by Money Magazine. Everbank pledges to keep yields within the top 5% of competitive accounts according to the Bankrate.com National IndexTM of leading banks and thrifts. There is a $1,500 initial-deposit requirement, and $5,000 balance to avoid fees, but if you can meet that, the 1.26% bonus rate is the highest of this group. Ally Bank High Yield Online Savings Account offers a 1.00% APY (as of May 17, 2011) with no minimum balance . Ally Bank is the reincarnation of GMAC and was rated as “Best for Savings” by Kiplinger. They have a heavy marketing campaign going right now so you have probably seen their ads stating, “You can also depend on no monthly fees, no minimum balances or deposits, and no sneaky disclaimers.” SallieMae Online High Yield Savings Account offers a 1.10% APY with no minimum balance The rate of personal savings has been increasing recently, even despite low rates. A reader sent in a story about online banks last November, but that discussion was specifically about customer service. I’d like to hear from people who use one (or more) of these banks and can tell me more about the features. Which one should I choose and why? Have you been able to find savings or money market account rates that are even better than the ones listed here? If so, please let us know.