Online Banking Savings Account roundup: rate up to 4.00% APY

Posted on February 28, 2008 by BBD

There are several online banks offer very competitive savings account rates.

• Washington Mutual (WaMu) Free Checking 4.00% APY
• Free Checks, Free ATM Cash Withdraws
  $1 to open an account, FDIC insured
• W|T Direct Savings Account 3.91% APY
  After 60 days, 4.01% APY for Balance $10,000+ or 0.6% APY for balance less than $10,000
  No fees and no minimums, FDIC insured
• ING Direct Electric Orange Checking Account Up to 4.00% APY (tier)
  No fees and no minimums, FDIC insured
• ING Direct Orange Savings Account 3.40% APY
  No fees and no minimums, FDIC insured
• Capital One Direct Banking 3.25% APY
  No fees and no minimums, FDIC insured

Washington Mutual Savings Account 4.00% APY (expired)

Posted on January 26, 2008 by BBD

Update: now the savings account is 4.00% APY.

Washington Mutual still offers a 4.00% APY (Annual Percentage Yield) when you open a new Online Savings Account. It remains one of the highest yields on the market since the Fed cut rates earlier this week. You’ll need to sign up for a WaMu Free Checking account and fund it with at least $1 to be eligible for this savings account.