The dropping of rates at high yield banks continues unabated as this week we saw even more drops from the major online banks. Emigrant fell the hardest, evening themselves up with ING Direct, and it’s a sign that Emigrant is no longer in “growth” mode, offering up higher rates for more deposits, and has entered ING’s mode of just cruising. Some of the newer banks have slid more slowly but the rates are all in the 3’s instead of the 4’s.
Again, rate chasing might become more common now that everything is so low, but I do not recommend rate chasing high yield savings accounts, it’s just not worth the effort and time..
| Bank Name | APY | Min. Balance |
Diff. Vs. Feb. |
| FNBO Direct | 3.85% | None | -0.45% |
| UFB Direct | 3.85% | None | -0.15% |
| E*Trade | 3.45% | None | -0.95% |
| WT Direct | 3.31% | $10k+ | -0.99% |
| Emigrant Direct | 3.00% | None | -1.05% |
| ING Direct | 3.00% | None | -0.40% |
Want to see a bank tracked in this list? Leave it in the comments below and I’ll be sure to include it!
Tags: Emigrant Direct, ETrade, High Yield Savings Accounts, HSBC Direct, ING Direct, Interest Rates, Monthly Interest Rate Roundup, UFB Direct, WT Direct
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