WT Direct Increases Interest Rate to 3.26% APY

By Sun

WT Direct became the latest online bank to increase the interest rate of its online savings, following similar move early from E-Trade, HSBC Direct, and FNBO Direct.

The increase is 0.10%, from 3.16% to 3.26% APY with a minimum requirement of $1o,000. After 60 days if the minimum balance is below $10,000, then the interest rate is 0.50% APY. I looked at WT Direct a year ago and determined that this isn’t the bank I want, not just because of the high balance requirement, which isn’t a problem now, but more of its two-tier rates. $9,999 at 0.50% APY? No thanks!

If you are looking for good offers, check out my interest rates table. There are many better deals :)

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Banking, Personal finance

6 Responses to “WT Direct Increases Interest Rate to 3.26% APY”

  1. bubbles |  Jun 21, 2008 at 1:49 am

    Gee, my problem is not only the interest rates, but with the maintaining balance as well. Yep, you got it, there are many better deals!