High Yield Savings Rate for July 2011

Have you been planning of opening a savings account with the highest yield and yet can’t seem to find a bank that offers the best? If you are then perhaps you should look at other means. While peer-to-peer lending offers a high rate of return, this seems to be ideal only for those who are comfortable with the way peer-to-peer lending works.

For those hesitant to do peer-to-peer lending or investing, try the following banks which offer above the 1.0%APY mark. Here are the top of our list for July 2011:

1. Discover Bank Online Savings Account – 1.15%APY
2. Capital One Bank Simple Savings Account – 1.15%APY
3. Incredible Bank Incredible Money Market Account – 1.15%APY. With this account, bank fees may be waived.
4. Clear Sky Accounts – 1.10%APY. A high yield, online savings account with no monthly fees offered by Chesapeake Bank.
5. Flagstar Direct – 1.11%APY. A high yield money market/savings account.
6. SallieMae – 1.10%APY. A high yield savings account with no fees and no minimum balance.

In May 2011, SmartyPig offers the highest yield savings rate of 1.35%APY, but now it is down to only 1.10%APY. In March 2011, American Express high yield savings account was 1.30%APY, but now it is only 1.00%APY. The bank that seems to offer a steady savings account rate  is Discover Bank which is currently at 1.15%APY.

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1. Best High Yield Savings Accounts, May 2011
2. High Yield Savings Rate November 2011
3. High Yield Saving Accounts for October 2011
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