This is a quick update, HSBC Direct’s promotional 3.5% APY has ended and going back to 3.25%. Still a leading interest rate number. HSBC Direct offers no fees, no minimums, and they’re FDIC insured, so your money is safe and covered up to $100,000.
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Here is a quick list to compare some online savings account and their APY for Sept. 17th, 2008:
- HSBC Direct – 3.25% APY
- WaMu – 3.75% APY
- E*Trade – 3.30% APY
- GMAC Bank – 3.00% APY
- ING Direct – 3.00% APY
September 26th, 2008 at 5:33 pm
ShoreBank, who I work with, is offering 3.5% APY on their online High Yield Savings Account. Plus, no monthly fees, $1 minimum balance and offers easy electronic transfers. Check it out at http://shorebankdirect.sbk.com.