Top Online Savings Accounts: November 2009
November 6th, 2009 Posted in Checking Accounts, money market accounts
Despite the consistent downward trend in CD rates over the last several months, online savings accounts have (at least momentarily) stabilized. In fact, a select few have even seen their rates increase, albeit from abysmal levels to begin with. Etrade, for example, was providing a yield of 0.60% APY for a few months this past summer and has since seen it’s interest rate rebound to 0.95% APY.
Online savings accounts, in general, function the same way as money market accounts do and are sometimes even synonymous. The most notable benefits of online savings accounts are their flexibility, lucrative returns, and FDIC protection. Most people, especially those who carry a large balance on their checking accounts, tend to opt for these particular accounts in order to have their idle cash earn some extra interest.
Top 3 FDIC insured online savings accounts (November 2009):
If we have left out your online bank which happens to provide an exceptional interest rate, please share by leaving a comment!
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