BankDirect Online Savings Account Rates
March 26, 2010 by · Leave a Comment
BankDirect is a fast growing bank that operates only on the Internet and has been in operation for a little over ten years. They have increased significantly in popularity every year and have always provided convenient and competitive service to their customers. They offer account to anyone residing with the 50 states of the US.
Of course anyone applying for an account would have to provide the same identification as opening an account in a physical branch, however the location is not an issue since your branch is online. Because there is no cost to keep a physical location up and running the BankDirect online savings account rates are able to remain competitive and attractive to all prospective customers.
The current annual percentage rate for a BankDirect online savings account is a 0.10% APY. There is a minimum opening deposit of $100.00 in order to get the account open and running. One way that BankDirect helps you to earn as much interest as possible is by compounding your interest daily.
This means that your balance is judged every day and credit for the interest, then the following day your new balance is determining the interest. This can allow you much more in gains and is not offered by many banks.
Further helping you to earn money and not spend even more is the fact that there are no monthly maintenance fees for this account. You also get two free withdrawals every month. Any withdrawals between three and the maximum of six in a month are charged a $2.00 fee.
You can get an ATM free of charge, but these are only issued at your request. While you will be charged fees for using an ATM, you can get four of these fees reversed every month, helping you to have access to your account at no cost.
This is a great account for those that want to keep a high balance, and only access that amount for emergencies or unexpected payments. You can have access to your money when you need it, but BankDirect Online Savings Account Rates will benefit you more to leave it alone and let it earn interest for you.
New Dominion Direct Online Savings Account Rates
March 25, 2010 by · Leave a Comment
New Dominion Bank has been providing all financial services with great customer service to the area of Charlotte, North Carolina since 2005. While still a relative newcomer to the banking scene, they have managed to expand their business a great deal and be awarded an A rating with the Better Business Bureau.
In that time they have also founded their online banking branch of New Dominion Direct, which specialized in personal and business online savings, checking, CD, and Money Market accounts. The New Dominion Direct online savings account rates are definitely competitive for the online market and look to remain that way for quite awhile.
The current annual interest percentage earned for New Dominion Direct online savings accounts is at a 1.50%. The minimum deposit amount in order to open the account is $1,500, and a $1,000 daily balance must be maintained.
If the balance falls below $1,000 the account will still continue to earn interest however a $10 maintenance charge will be applied to the account, which negates the interest you have earned anyway. The interest for this online savings account is compounded daily, which will earn you the most interest possible for your money.
However, don’t get concerned if you don’t see daily interest payments. While the interest is calculated daily it will only be paid to the account once a month.
Direct deposit is available with the New Dominion Direct online savings account, so if you want to set aside a portion of your paycheck every month to that account then you have the ability to do so. Online and ATM access to your access are free and give you unlimited, 24/7 access to your funds.
With this account you do get three free withdrawals per month. Any withdrawals over three will each be charged a $5 fee. This account does have several fees that can limit the amount of interest you actually make, and this should be taken into account before you open an account.
However, if you plan to have a savings account that you add funds to and otherwise leave completely alone then this account could be very advantageous for you. The rates are very good and can be significantly higher than other accounts that have no fees.
AmTrust Direct Online Savings Account Rates
March 24, 2010 by · Leave a Comment
AmTrust Direct began its life as the online division of AmTrust Bank. However, in December of 2009 AmTrust Bank was acquired by New York Community Bank. This means that AmTrust Direct is still in existence and offering competitive rates and is now a division of New York Community Bank.
While the customer service expectations and stability of the company is not a problem, it is important to note that some policies and rates may have changed since the bank changed hands. So while you may have thought that AmTrust Direct was not your best bet, those new AmTrust Direct online savings account rates may just be the best offer for you now.
While there is no minimum balance to earn interest on an AmTrust Direct online savings account rates, there is a minimum balance to open the account. In order to open the account you must deposit at least $500. However you don’t have to maintain that balance since there is no fee for falling below a certain threshold and you can earn interest on anything over $1.00.
You can transfer money into the account from any external source; it does not have to be another AmTrust Direct account. Your account can be linked to up to six external accounts, so you will have plenty of sources to fund your savings. You will be allowed six of these external transfers per billing cycle for free. After you have reached six there will be an additional fee for every transfer after that.
However, you can still make transfers by check as well. Any deposits made to the account usually show up within four business days. You don’t have ATM access with this account, but with 24/7 online access you should have no problem keeping track of your money.
Currently there are two different interest rates for the AmTrust Direct online savings account, and this rate is based on the size of the balance. For any amount from $1.00 to $99,999.00 will earn a 1.00% annual percentage yield. Anything over $100,000 will earn a 0.50% interest rate. Keep in mind that these rates are usually offered for new account only, so if you are transferring your AmTrust Direct account to an online savings account then this rate may be different.
Grand Yield Direct Online Savings Account Rates
March 23, 2010 by · Leave a Comment
Grand Yield Direct is the online consumer products service provided by Apple Bank for Savings. They are a New York centered charter savings bank that was founded in 1863. In that time they have provided continuous and great service for their customers,even being given a superior rating by Bauer Financial for 10 consecutive years. Apple Bank for Savings is currently the third largest savings bank in the country, so you know that your money will be safe with their online branch.
When online banking hit a major boom recently they expanded their service with Grand Yield Direct to handle their online bank accounts. When considering interest rates the Grand Yield Direct online savings account rates are definitely high on the list.
The current interest rate for online savings is a 1.25% annual percentage yield. This is among the highest interest rates available and with a secure company as well. In order to earn this interest rate you must maintain a balance of at least $1.00.
When you initially open the account there is a $2,500 balance requirement, but there is no minimum balance once the account is open. You also need not worry about finding any hidden costs like maintenance charges or penalties that will prevent you from earning the most interest you can.
Like any online savings account your money is very flexible and liquid, so that you have access to it any time you wish. You can make transfers from other Grand Yield Direct account or external accounts as well. There are limits for the amount in transfers you can make.
You can make $25,000 in transfers in a single day and $75,000 within a 30-day period without incurring fees. Another huge benefit you get with this savings account is that the interest is compounded daily. Unlike most account where the interest is based on your average balance for the month, this account calculates the interest for each day.
This will earn you more in interest and maximize your savings account potential. However, you should note that in order to have online access to your account, you will need to sign up for online banking at no cost to you.
Amboy Direct Online Savings Account Rates
March 22, 2010 by · Leave a Comment
The main service branch of Amboy Direct has been headquartered in New Jersey since they were established in 1888. Based on over 120 years of banking experience they founded Amboy Direct as their Internet banking service back in 2003.
Customer service is a top priority for the company, and with their 12th consecutive year of being named the best bank in New Jersey they appear to be succeeding. But not only can you expect good customer service with this bank but the Amboy Direct online savings account rates cannot be beat by many.
The current annual percentage yield paid for Amboy Direct online savings accounts is an even 1.00%. This is a consistent rate that is earned by any online savings account and will not be changed simply because your balance has changed. There is a minimum opening deposit of $1,000 and you will earn the same interest rate as someone with $100,000.
Once you make an opening deposit it will begin accruing interest after the amount has been in the account for one business day, and that amount will not be available to be withdrawn for seven business days. While the same interest rate is earned no matter what the balance, it is necessary to note that if the balance falls under $300 then no interest will be earned on the account.
There are also no fees or costs to transfer funds so you can earn even more interest by saving that money every month. Should you choose to use an Amboy checking account for those transfer they are usually complete within 1-2 business days.
It’s important to keep in mind since you are opening the account online Amboy Direct will require that the initial deposit is made from an Amboy Direct checking account. After the initial deposit then you can make free online transfers from any account that you wish.
The initial deposit is a safety issue so they want to make sure they can verify the source, once this is done then you can manage the money any way you see fit. You also have access to your account 24/7 online, which gives you further control over your funds.
Presidential Online Bank Online Savings Account Rates
March 19, 2010 by · Leave a Comment
Presidential Online Bank has been in operation since 1995 and boast that they are the first online bank to exist. But that is just the online portion of the bank since the main branch of Presidential Bank was started in 1985.
The main branch of the bank operates out of Maryland however the online branch expands beyond the state with customers all over the country. Because online banks have lower operating costs they can offer much more competitive interest rates.
Currently the Presidential Online Bank online savings account rates are at a 1.25%. This rate places the bank right in the midst of the pack for online savings accounts and should definitely be considered. The account does require a minimum deposit of $5,000 to open the account, but there is no minimum balance once it’s open.
There are also no fees associated with the account, which will save you money in the long run. Keep in mind that the 1.25% APY is only for balances up to $35,000. Anything over that amount will earn a 0.75% APY, which is still a very competitive rate.
Another tool that you have with a Presidential Online Bank savings account is 24/7 access to your account. Not only can you get online access to your account at any time but also you can call the bank’s customer service number anytime as well. No matter what you need to do, you can do it any time that is convenient for you.
You do get statements for the account in the mail, but Presidential Online Bank will also keep an archive of these statements online as well. These online archives also include images of checks and deposit items. Anytime you make a deposit you can get confirmation by email, which is especially useful if you have an automatic deposit set up on the account.
That way you don’t have to check to see if it went through alright, you will get an email confirming that everything is fine. All of these benefits and the competitive rates make Presidential Online Bank a worthy consideration.
Franklin Synergy Bank Online Savings Account Rates
March 18, 2010 by · Leave a Comment
Franklin Synergy Bank, operating out of Tennessee, is new in the financial services world. They have only been in business since the beginning of 2007 but have seemed to flourish in that time. They recently added an online savings account to their repertoire, which will likely serve to only expand their customer base and customer support.
Also, there is no need to worry about what kind of business you’re working with, they are Better Business Bureau accredited and have an A- rating. There have been no complaints against them and most customer report satisfaction with the bank.
The Franklin Synergy Bank online savings account rates are currently at a competitive 1.35% annual percentage yield. But like with any account it is important for you to know the details of the account for you to use it to your best advantage.
The bank information mentions nothing of a minimum balance or minimum deposit however it should be noted that there is a maximum of a $500 deposit from an external account. In other words you can deposit as much as you wish from another Franklin Synergy account, but only $500 at a time from an account with a different bank. You do receive email statements on the account for free, or you can choose to get paper statement for $3 each.
This online savings account is designed for people that do not want to move their money around a lot. The interest on the account is only paid quarterly, so if you withdraw funds from your account more often than that you will not get as much interest as you could have.
You do get 3 withdrawals a month for free, and $5 for withdrawals over three in a month. Also keep in mind that there may be excessive activity fees for more than 6 withdrawals in a month. If you intend to put your money into a savings account and not touch it, simply letting it earn interest for a long period of time, then this is the online savings account for you.
Franklin Synergy Bank rates are good and the bank had a good reputation. But if you move your money a lot then it may be best to look around a little more.
Bank of Internet Online Savings Account Rates
March 10, 2010 by · Leave a Comment
Bank of Internet is an FDIC insured, publicly traded company that offers consumers traditional loan and financial services over the Internet. There are many benefits to having no actual branch network in place and one of those is lower costs to the financial institution. And if they have lower overhead costs then you can get better rates and fewer fees.
They have been providing these services since 1999 and is headquartered in San Diego, California but keep in mind they have no branch there either. Their company mission is to foster long-term relationships with their customers in an online environment that provides you with the most benefits.
Bank of Internet online savings account rates come in three different forms, a regular savings account, a high-yield savings account, and a money market savings account. The regular savings and money market accounts both have a tier interest structure based on your balance, but at this current time the rates remain the same no matter what your balance.
Since they publish the tier system however, this may not always be the case. The regular savings account has the lowest interest rate at a 1.40% APY, the money market savings has an APY of 1.45% and the high-yield savings account is the highest at 1.50%. To further ass to your benefit, there are no fees or minimum balance required to earn interest on any of the 3 accounts, and the opening deposit minimum is a mere $100.
For all three accounts there are ATM cards available, however the money market account has check writing features that give you more access to their money. -The regular savings account also has a bill pay feature that you can use to pay for your monthly bills with less hassle.
And if you wish to more easily transfer your money to other account then the high-yield savings account is the one for you. But apart from these slight differences in the accounts, the biggest differences are the access you want to your money and the amount of interest you wish to earn. As with any reputable financial institution all of your funds are FDIC insured so you can feel at ease.
