Comments on: Online Savings Accounts with 3+% APY

By: Save Money

Save Money — Thu, 25 Jun 2009 08:48:01 +0000

Thanks for sharing such great list. What i like is interest rate of all the online banks are going down.

By: John

John — Fri, 20 Feb 2009 14:26:44 +0000

My EverBank advice: Take advantage of their promo rate, then pull your money and close your account. Why?

1) Deposit money and it takes a week before if appears, so you lose the interest for that week. I can understand that somewhat; if your deposit fails, they don’t have to undo your deposit and interest earned.

2) Withdraw money and it takes a week before you get it. This is unforgiveable. EverBank obviously wants to keep your money for another week and not pay you interest.

EverBank has the right to determine their policies. I have the right to decide where I deposit my money. As long as these policies remain in place, I will stay away from Everbank.

By: RateNerd

RateNerd — Wed, 18 Feb 2009 02:49:01 +0000

This is a great list – thanks for sharing. Here are my thoughts on finding high yields http://ratenerd.com/high-interest-savings-accounts-2-169

By: Sun

Sun — Mon, 16 Feb 2009 20:38:43 +0000

MKC: Thanks the correction. IGO was a mistake. I updated the rate history table with 2.81%, but somehow used an old data in the post. BTW, Flagstar’s MMA is also a promotional rate. I called them once in December and was told they don’t have an expiration date of the promotion and it has has been going on for quite a while.

By: MKC

MKC — Mon, 16 Feb 2009 20:16:04 +0000

DSD does not send me emails on rates…

Your rate for igo is incorrect. They dropped from 3.08 to 2.81 APY between 02/05 and 02/09.

I park at igo since it is relatively convenient. DSD’s account linking and authorization is inconvenient. So the only thing DSD had going for it was its APY was about 30% more than igo’s. With the current APYs (DSD APY = 109% igp APY) and downward trend in APY/APR, I moved all but 100$ of DSD funds to igo.

Since rates are poor there is not much rate differential when look for other banks. Other factors like bank quality, and convenience are what I look for. igo is 5th for APY for high yield MMA/Savings. If I were to open another account now, I would research customer experience on Flagstar’s 1$ opening, no fee, 3.00 APY MMA.