The Fed made some moves this month (dropping the rates by 75 points and then 50 points) and, as expected, the rates have fallen as well. The days of 5%+ APY on an online savings account are clearly over as there are hardly any banks offering that rate anymore (none of the ones I track list a rate over 4.40%!).
You might be tempted to rate chase, moving your funds to E*Trade, but I do not recommend rate chasing high yield savings accounts.
| Bank Name | APY | Min. Balance |
Diff. Vs. Last Mo. |
| E*Trade | 4.40% | None | -0.55% |
| FNBO Direct | 4.30% | None | -0.75% |
| WT Direct | 4.30% | $10k+ | -1.20% |
| Emigrant Direct | 4.05% | None | -0.60% |
| UFB Direct | 4.00% | None | -1.22% |
| ING Direct | 3.40% | None | -0.70% |
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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