Emigrant Direct , a division of Emigrant Bank, is offering an online savings account at 1.65%APY with no minimum balance requirement so you earn the interest no matter what your account balance is.
There are also no fees, no penalties and monthly service charge which are normally offered by most banks. Deposits are secured by FDIC insurance which, with Emigrant Bank, you may be able to extend coverage if you establish deposit accounts in different ownership categories.
Compare with other high yield savings account here.
Update May 19, 2009. Emigrant Direct Savings Account Rate is down by 0.10%APY. It is now 1.55%APY from the previous rate of 1.65%APY.
Update July 15, 2009. Emigrant Direct online high yield savings is down to 1.40%APY.
Update September 19, 2009: Emigrant Direct American Dream Savings Account is down by 0.10%APY or 1.30%APY.
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