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High Yielding Savings Accounts

One of the most common things to pop out at me while researching the financial blogosphere was savings accounts with an APY of 4% or more. WOW! I didn't even know something like that existed. And I wanted to hop on one so quickly. I found out about the ING Direct Savings account thru Single Ma's blog and was about to open one up via one of her referral links. ING Direct was offering a $25 opening bonus but only with a minimum initial deposit of $250 with a curreny APY of 4.50%. Unfortunately I had to put a $400 deposit down for my apartment and did not have that extra $250 lying around. Thank goodness I didn't open it up. Looks like there are some banks offering pretty tempting incentives as well. One thing I have learned in the last couple of months since I started my Financial Empowerment Journey is to not be so quick to go with the first choice you see. Research, Compare, and and Choose the best option for you. With that said I have listed the following banks that offering real good incentives on savings accounts:

ING Direct
Interest Rate: 4.50% APY
New Account Bonus: $25 if referred by an existing member.
Minimum Balance: $25 bonus using promo code D264S
Fees: None
Incentives End: No end date (as long as promo code works)

CitiBank Ultimate Savings
Interest Rate: 4.65% APY
New Account Bonus: $50 sign-up bonus (received 90 days after opening account)
Minimum Balance: no minimum
Fees: None
Incentives End: 04/30/2007


HSBC Direct
Interest Rate: 6.00% APY
New Account Bonus: none (Dang! And they have the highest APY I can find)
Minimum Balance: no minimum
Fees: None
Incentives End: none (supposedly they have a poor customer service rating)



Thats all I got for now. Based on my research I think I will go with Citibank. I can open my account with $1 and get the $50 bonus in 90 days. Getting Green has a post on the top 14 high yielding savings accounts and their reviews. If you really wanna be a hustla I recommend opening accounts in the banks with no minimum opening balance and sign-up bonuses. You could have 4 savings accounts that you opened with a dollar in each and turn around earn yourself $120 bucks. Hmmmm?!!!....................I might have to try that out myself. LOL
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Rad said…
Don't forget about Emigrant Direct, they offer 5.05%. www.emigrantdirect.com. I use ING, you can open up sub-accounts to help manage your savings better and now they have that electric orange paperless checking account. Good luck, you can't really go wrong with any one of the ones you listed.
March 23, 2007 at 12:55 PM
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