Bank Provident Online - 3.30% APY Savings Account

Guess who has just joined the online high yield savings account market? The Provident Bank of Massachusetts has with Bank Provident Online, their new internet division offering 3.30% APY guaranteed until 2009 (which is only the next 5 months).

3.30% isn’t the highest rate, HSBC Direct offers 3.50% APY interest rate until August (with no mention of the rate afterwards), but they are covered by FDIC and DIF. DIF stands for Depositors Insurance Fund and it’s a private insurance fund that insures all deposits above the $100k FDIC limits.

Hat tip to Bank Deals for the find.

Related Posts:

• September 2008 High Yield Savings Account Rates Roundup
• August 2008 High Yield Savings Account Rates Roundup
• July 2008 High Yield Savings Account Rates Roundup
• WT Direct Increases Rate to 3.26% APY
• HSBC Direct Increases Interest Rate to 3.50%