High yield online savings accounts are becoming popular since more people now feel comfortable banking from the comfort of their own homes.
There are many banks offering high yield online savings accounts. If you like banking with Ally Bank, Ally Bank, formerly known as GMAC Bank, currently offers a high yield savings account online at 1.00%APY.
Here are the features of Ally Bank’s high yield savings account offered online:
- Zero opening;
- No minimum balance;
- No monthly fees;
- Interests are compounded daily;
- Six transactions per statement with no fees;
- FDIC insured up to the maximum amount allowed by law; and
- The actual variable rate will go into effect when you make an opening deposit.
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Tags: high yied online savings accounts·high yield savings account·high yield savings account online
First Citizens Bank is offering its “it pays to share program” or, commonly known in the banking industry, as a refer a friend program.
If you are thinking of switching banks, here is how the program works:
- You must have a qualifying account with First Citizens Bank e.g., Bank at Work Checking, Checking with Interest, Free Checking, Liberty Classic or Liberty Advantage Checking, Quest or UltraQuest Account. Please note that each checking account differs in the minimum opening balance requirement.
- Get a friend, family member or coworker to open a new First Citizens checking account and have them present a completed referral form when going to a First Citizens Bank branch. A printable client referral form is available at First Citizens Bank website.
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Tags: cash bonus·First Citizens Bank cash bonus·refer a friend bank bonus
A money market account or MMA is a premium account or a high interest savings account. It is a deposit account offered by most banks wherein deposits are invested in government and corporate securities. Depositors are then paid interests based on current interest rates in the money market.
A money market account offers a relatively high rate of interest, but requires a higher minimum balance. The money invested in a money market account is insured by the Federal Deposit Insurance Corporation (FDIC) for up to $100,000 just like other bank accounts.
While a money market account can be considered a low risk investment, one thing you should keep in mind is that since it is an investment it comes with certain restrictions and one of these restrictions is that the money you put into a money market account will not be as liquid as in a regular savings account.
Tags: high interest savings account·money market accounts
Finding which U.S. banks offer high yield online savings accounts can be time consuming as there are numerous banks offering high yield online savings accounts.
With a careful and thorough research, you will find that the following U.S. banks are offering the best high yield savings accounts online for March 2011:
- American Express high yield savings account (Personal Savings) – 1.30% APY
- Capital One – 1.25% APY + 10% bonus on interest earned
- Sallie Mae new online high yield savings account – 1.25% APY
- FNBO Direct – 1.10% APY
- Bank of American Fork Save Smart Direct – 1.10% APY
- Ever Bank Yield Pledge Savings – 1.06% APY
- Ally – 1.05% APY
Tags: American Express high yield savings account·BB&T eSavings·Ever Bank yield pledge savings·FNBO Direct·high yield online savings accounts·iGo Banking iGo savings·MetLife Bank high yield savings account
