There have been some changes for high-yield “internet” savings accounts, typically unavailable directly in a brick-and-mortar bank and only available through online applications.

Presidential Bank is now leading the pack with a 4.87% APY for the first $35,000 of your balance. Unfortunately, this account requires a minimum balance of $5,000.

CitiBank eSavings is not far behind with 4.75% APY on its savings account. To get this account, you must also have a CitiBank checking account. It can be opened at the same time, but there may be fees.

HSBC Direct recently jumped to 4.65% APY. The good news here is there is no minimum balance and no fees. For someone opening a new account and starting from scratch, this may be the best choice.

You can find a table of the latest interest rates for online accounts here.

 Email this article  Print this article
Share this article: Twitter | Tip'd | Facebook | Delicious | Reddit | Digg

About the Author

Flexo, the owner and creator of Consumerism Commentary, has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about him and follow him on Twitter.

If you enjoyed this article, get the free RSS feed or get daily emails.

Join the free Consumerism Commentary newsletter. Enter your email address here to receive weekly emails with behind-the-scenes information, exclusive giveaways, and money tips.

Related Entries on Consumerism Commentary

• No related posts