Online Banking

3 Responses to “what online bank offers the best interest rate on savings?”

1. axe1982 on July 27th, 2010 at 1:57 pm

   Just like real banks online banks change their rates all the time, so you have to keep an eye on them all. In addition, they often change their CD rates. Bankrate.com is a good place to keep an eye on the various rates.

   Currently ING direct is paying 4.75% on new accounts as part of a promotion, this is by far the best rate currently available.

2. *USE THIS INFO AT YOUR OWN RISK! on July 27th, 2010 at 2:01 pm

   Consider taking your money out of a savings account (~0.3%) a putting it in Money Market Fund (~2-4%). You can do that at any bank.

   Use at your own risk. Talk to your financial advisor.

3. deymond on July 27th, 2010 at 2:41 pm

   The guy that mentioned ING Direct is right about the 4.75%, that’s the best that you will find. That promotion lasts until April 19th. Their rates are variable, so it may go back to the 3.8% that it was prior to the promotion, or it may be higher than that. Please read the note terms carefully, as it’s only on ‘new deposits.’ For instance, if I put $200 in my account, it all earns the promotional rate. But if I withdraw $100, and then the next day I deposit that $100 back into the account, I’m now only earning the promotional rate on $100.

   You also might look at HSBC Direct. They are currently offering 4.25%.

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