Capital One Online Savings Account $50 Bonus
Capital One Direct is offering $25 bonus for its Online Savings Account and Money Market Account.
I opened a Capital One Savings Account last year when the rate was much higher and much attractive than the current rate of 1.60% APY. To give you an idea of where Capital One is in terms of rate, take a look at how it compares with other popular online banks:
- Ever Bank: 2.51% APY (3-month bonus rate)
- Ally Bank: 1.65% APY
- DollarSavingsDirect: 1.60% APY
- WTDirect: 1.51% APY
- FNBO Direct: 1.50% APY
- HSBC Direct: 1.35% APY
- ING Direct: 1.30%APY
As you can see, Capital One is right in the middle. Actually, good rate for savings account is hard to find these days. Many banks are still lowering their rates (see Online Bank Interest Rate History for latest rates) while the benchmark rate has remained stable for a very long time. Among the bank listed above, one exception is Ally Bank, which recently raised its online savings account rate from 1.75% to 1.80% APY. This is the second rate increase for the bank in two months. Hope the move signals that savings account rates have already reached the bottom. We can all use a good rate for our money 
Anyway, for this Capital One offer, it is valid for first-time customers only. If you are an existing customer of Capital One Direct Banking or had an account with them before, then you are not eligible for the bonus offer. To get the $25 bonus, you must open an account with promotion code SAVER25DF before November 25, 2009 and make at least $10,000 deposit (Online Savings account requires a minimum deposit of $10,000 to earn the 1.60% APY; balance below the minimum will earn 0.60% APY instead).
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I don’t know if you had hard, but American Express has a personal savings (banking) division, and they are currently offering 1.85% APY. I haven’t heard anyone really talk about their personal savings accounts online, but I opened an account recently and it seems to work decently. I found out about them by looking at the NY Times’ list of well capitalized banks, under the assumption that well capitalized banks would be the only ones able to offer higher interest rates… according to the list, american express is quite well capitalized.