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Emigrant Direct LOWERS Rate to 5.05%

Looks like Emigrant Direct [3] has enough money and that it doesn’t need anymore… they announced today that they were dropping their interest rates from 5.15% to 5.05% effective tomorrow (the 30th). ING Direct’s [4] current rate is a paltry 4.40% and there are a whole slew of online banks offering much higher rates including newcomer E-Loan and their 5.50% rate.

Right now, if I was going to open an online account I’d go with E-Loan. Check out Bank Deals for information on the details of the E-Loan offering [5] and Punny Money for real life anecdote on how to open an E-Loan savings account [6].