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Your Best High Yield Savings Account?

Posted By Jim On 04/03/2009 @ 7:14 am In Your Take | 39 Comments

I’ve been emailing back and forth with reader Tomas (he’s the impetus for the Bargaineering VideoCast [3] that will be published on Sunday), and one question I struggled with was which online bank [4] has the best high yield savings account offer now?

In the last few months, interest rates have plummeted. It was only a few short months ago that Dollar Savings Direct [5] offered 4.00% APY on their savings account. Now the rate is half that, a mere 2.05% APY. FNBO Direct [6], a long-time favorite of mine, just lowered their rates yesterday to under 2%. ING Direct [7], HSBC Direct [8], and E*Trade Ban [9]k all have rates under 2.00% and have had rates that low for quite some time.

So which one is the best? For me, it’s any of them. The difference between 1.50% at ING Direct and 2.05% at Dollar savings is microscopic. Half a percent isn’t worth the hassle of opening up an account, to be honest, and my money is going to whatever account makes it easiest for me to work with them.

How about you? What do you consider the best high yield savings account nowadays?

(Photo: refractedmoments [10])


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[3] Bargaineering VideoCast: http://www.bargaineering.com/articles/tag/bargaineering-videocast

[4] online bank: http://www.bargaineering.com/articles/best-online-bank-savings-accounts-high-interest-rates.html

[5] Dollar Savings Direct: http://www.bargaineering.com/articles/r/dollarsavingsdirect.php?tag=ytBestHYSA

[6] FNBO Direct: http://www.bargaineering.com/articles/r/fnbodirect.php?tag=ytBestHYSA

[7] ING Direct: http://www.bargaineering.com/articles/r/ingdirect.php?tag=ytBestHYSA

[8] HSBC Direct: http://www.bargaineering.com/articles/r/hsbcdirect.php?tag=ytBestHYSA

[9] E*Trade Ban: http://www.bargaineering.com/articles/r/etrade.php?tag=ytBestHYSA

[10] refractedmoments: http://www.flickr.com/photos/refractedmoments/223052548/sizes/s/

Thank you for reading!