Dollar Savings Direct is offering an incredibly high interest rate for online savings accounts at 3.75% APY. While this online savings account interest rate is not as high as current CD rates, it is definitely higher than most brick & mortar banks and comparable online banks. They do require a low $1,000 minimum deposit to open a new savings account. DollarSavingsDirect.com is a an online division of Emigrant Bank and is FDIC insured.
Other online bank account savings rates:
- fnbo direct - 3.50% APY
- hsbc - 3.25% APY
- ing direct 3.00% APY
- eloan - 3.01% APY
3 users responded " Highest Interest Rates on Online Savings Accounts "
September 30 2008
Thanks for the rate information. I’d like to point out that UnivestDirect.com also offers a competitive rate of 3% APY, No Fees, $1 to open an account, $1 minimum balance, free interbank transfers and easy to read electronic statements. Furthermore, the bank has 30+ branches in Pennsylvania and remains strong, even with the problems in the current financial markets.
October 3 2008
I stumbled upon a very high interest cd (certificate of deposit) in the Philippines. Company is Themoneymakers. Does anyone have more information on this offer?
October 3 2008
I would be careful about putting your money in non US accounts without the help of a broker. Even though they claim to have insurance that is “similar” to FDIC, that doesn’t mean that you will be able to get your money back in the event of a disaster.
Larger returns generally mean greater risk. They claim you can get about 18-20% APY. This sounds sketchy to me and I would advise against it since you likely have no legal course of action since this transaction is taking place outside of the USA.
Now if you live in the Philippines then maybe this is a valid offer-I don’t have any additional insight there.