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.
