Bank of Internet High Yield Savings Rate 2.06%APY

Bank of Internet, an online savings bank, is offering a high yield savings rate at 2.06%APY with no fees or balance requirements. Only $100 minimum opening deposit is required and it comes with a free ATM Card and free online statements. Account holders will also have ease in transferring funds within their Bank of Internet accounts as it is made automatic by the bank.

There is however a limit in the number of withdrawals but funds should be safe and secure as Bank of Internet is FDIC insured.

This kind of set-up may only be ideal for people comfortable banking online.

Update August 30, 2009:

Bank of Internet high yield savings is now only 1.75%APY.

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