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.
Citibank E-Savings Account Rates
February 28, 2010 by · Leave a Comment
Citibank is the arm of the financial services giant Citigroup that handles all of their consumer banking. It was founded in 1812 and has been a major player in the United State’s financial scene ever since. Currently, Citibank is the fourth largest bank in the country for domestic deposits. Because of this they are a great bank to trust for your online savings account.
The current rate for the Citibank online savings account bank is 0.75% for any balance under $25,000. This does change occasionally as the financial markets change and adjust but it is impossible to predict when or how that rate will change. Citibank does reward its customers for having high balances of over $25,000 by giving them a very generous 1.01% annual percentage yield.
These rates only apply to the online savings account so if you are being quoted something drastically different then if may be wise to check what kind of account they are referring to. It is also important to note that the e-Savings account is only available by phone or through Citibank’s website. If you are in a branch then you cannot open this kind of account and it likely won’t be offered to you.
There is a minimum deposit amount of $100 to open the account initially. But once the account is open there is no minimum balance that you must maintain. Before you apply then you should also know that you must have another eligible account with Citibank or you will be barred from having an online savings account. You can open both account online at the same time and that will be suitable but you may have to go to a branch at some point to provide additional documentation for their files later.
You have a few choices for your second account; you can have an EZ Checking account, a Citibank checking account, or a Citigold account. The two accounts must be linked so that they will both appear on your statement. This is easy to do as long as both accounts are opened with the same name and Social Security Number. Both accounts will be subject to Citibank’s approval but can be opened online or over the phone.
E-Loan Online Savings Account Rates
February 24, 2010 by · Leave a Comment
E-Loan is a subsidiary bank of Banco Popular North America, which is a New York chartered bank that has FDIC insurance. It is a very large national bank that holds over $12 billion in assets. E-Loan is the branch of the larger bank that handles most of their online savings accounts and their associated rates. Because of the online nature of their business they have less paperwork for you to fill out and the strictest privacy policy in the banking industry.
When you are looking for the rates on an E-Loan online savings account, you will typically run across two different rates. The first is the rate for the basic online savings account. This account requires a $10,000 minimum balance and had an annual interest yield of 1.1%, as of February 12th 2010.
This rate does fluctuate with the market so the current rate that is being offered could be higher or lower. If the balance falls below the minimum then you may not be eligible to earn interest or there may be fees associated with the account until it is brought back to the minimum balance. There are typically very few fees with E-Loan online savings account, but all of the fees will be disclosed to you before you open the account.
E-Loan also recently began offering an online savings CD account that has a significantly higher interest rate of 5.5%. While this is a very lofty interest rate, you should note that this is typically only offered as an introductory rate that usually drops to around 2.6% annual percentage yield. This is higher than the traditional online savings account and has the same $10,000 minimum balance.
There are also no fees associated with the online CD savings account, even inactivity or low balance fees. However, there are a few drawbacks to the CD account over the savings account. First is that if the balance falls below $500 for more than 90 days the banks reserves the right to close the account.
Also, you typically have less access to your money with this kind of account and may lose the high interest rate for debiting the account too often. Weigh both of these options carefully before deciding which E-Loan online savings account rates is right for you.
