WTDirect Lowered Savings Account Rate to 3.06% APY
Just received a note from WTDirect regarding their rate change. The bank has lowered its WTDirect Savings Account rate to 3.06% APY from the previous rate of 3.31%. Actually, I though 3.31% APY was a pretty decent rate, with the only drawback that it requires $10,000 minimum deposit which is pretty high (FYI, Capital One Online Savings Account also requires a minimum of $10,000, but you can earn 3.55% with them). Now the rate has been lowered, WTDirect won’t make a good choice for stashing away your cash.
After the Fed cut its benchmark lending rate to 1.0% last month, a few banks followed suit to lower their interest rates, even though I thought they would make their rates a little sweeter to attract new customers while retaining existing customers. But I guess that assumption may be applied to cash-stressed banks. Anyway, I am happy with my new account at Dollar Savings Direct, though I have no idea how long I can enjoy the 4.0% yield.
BTW, I have updated my online savings and checking account interest rates list the other day, including a few new banks such as OnBank and Shore Bank Direct. Since the last update a couple of months ago, there are a lot of changes in the ranking 
Maybe you can find one for you, whether there’s a bonus or not.
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I checked out the interest rate page on your blog. Thanks for updating the page. I did some research myself. The results are pretty close to yours. EverBank seems to have the best savings rate right now. Check it out on my blog.
The online savings account with the best rate seems to keep changing from week to week. It is just not practical to keep moving the money around. One way to deal with it is to lock in rates with short term CDs if locking the money away for the duration is not a big issue.