THE BEST BANKS WITH HIGH INTEREST RATE SAVINGS ACCOUNTS

Banks are becoming less and less trusted by everyone because of the present economic crisis and that is only normal. But despite the financial difficulties everyone is facing and not knowing where to put their money especially now that Wall Street can’t be relied on, I would think that people should consider investing their money in CDs and if possibly get your money out of your 401ks and put them into high interest savings accounts. So I have compiled a list of banks that are going strong and have high interest yields and my research is based on a 1 year CD, see below for more details:

1. GMAC Bank (Midvale, UT): Their rate is at 4.26, APY is at 4.35 and the minimum deposit is $500.00, I would suggest this bank to anyone because they make it easy for anyone to start a CD with less funds.

2. Capital One Direct Banking (McLean, VA): Their rates start off at 3.68 and APY is at 3.75 and the minimum deposit is $5,000.00, this has a high minimum deposit but the good thing is they have good interest rate.

3. E-Trade Bank (Arlington, VA): Their rate is at 3.59 and APY is at 3.65 and the minimum deposit is $1000.00, everyone knows E-trade is going good and strong and so it will be a good place to invest your money.

4. Zions Bank (Salt Lake City, UT): Their rate starts at 3.56 and APY is at 3.61 and the minimum deposit is $1,000.00, here’s another good source for investing your money and not putting it at risk.

5. Countrywide Bank, FSB (Thousand Oaks, CA): Their rate starts at 3.53 and APY is at 3.60 and the minimum deposit is $10,000.00, they do have a high minimum deposit and this kind of CD is for individuals who have more money to put away.

There’s actually a promotion going on at HSBC for 6% APY and also people should consider a Presidential internet plus checking account, they have a 4.5% APY which is not a bad thing. The rates on this page are current as of 15 October 2008.

These are the top banks with good interest rates, there are more but I can’t guarantee their success and how they work and because of that I choose not to include them here so as not to misguide anyone. I hope this was helpful to everyone and I wish you all happy savings!
Regards,
Richard Watchman.