High yield online savings accounts are good in that these types of accounts are easy to manage. If you are comfortable banking online, you can manage your online savings accounts with ease, 24/7. However, aside from the convenience of online banking, there are two things that one should also consider: the rate offered for online savings account and whether the bank offers a good customer service. Consider good customer service as including live representative from the bank, easy online banking, and easy to navigate website.
Here are the top five banks that offer high yield online savings accounts for October 2011. Choose the bank that fits your goal and interest.
- UFB Direct Airline Rewards Savings – 1.30%APY. Minimum to open is $100 with zero monthly fee. Interest is calculated daily but paid montly. Account is covered with FDIC insurance up to $250,000
- Incrediblebank Incredible Money Market Account – 1.25%APY. Requires $2,500 minimum to open with a $10 monthly fee. Interest is calculated and paid monthly. Account is covered with FDIC insurance up to $250,000.
- SmartyPig Savings Account – 1.10%APY. Only $25 is required to open with no minimum balance. Interest is calculated and paid monthly. Account is covered with FDIC insurance up to $250,000.
- CNB Bank High Yield Savings Account – 1.05%APY. Only $1 minimum to open with no monthly fee. Interest is calculated and paid monthly and account is covered with FDIC insurance up to $250,000.
- First Trade Union Bank – 1.05%APY. Requires $2,500 minimum to open with $2.50 monthly fee which may be waived. Interest is calculated and paid monthly. Also, account is covered with FDIC insurance up to $250,000.
The above high yield saving accounts for October 2011 are available online. Compare these saving accounts that are high yield with the high yield savings rate offered in July this year.
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