With the Fed standing pat on rates, the only high yield savings account interest rate jockying will be for new deposits. Last month there were only two rate changes, FNBO Direct upped the rate to match HSBC’s 3.50% APY and WT Direct ticked up their rates by a tenth of a percent.
The only word of caution I’d throw in there is that benchmark rate, 3.50% at HSBC (but also available at lesser known FNBO Direct) is available through August 15th, 2008. There’s no saying where it will go after that.
| Bank Name | APY | Min. Balance |
Change |
| HSBC Direct | 3.50% | None | 0.00% |
| FNBO Direct | 3.50% | None | +0.25% |
| WT Direct | 3.26% | $10k+ | +0.10% |
| WaMu | 3.30% | None | 0.00% |
| E*Trade | 3.15% | None | 0.00% |
| UFB Direct | 3.01% | None | 0.00% |
| ING Direct | 3.00% | None | 0.00% |
| Emigrant Direct | 2.75% | None | 0.00% |
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