In our weekly look at savings rates, Colorado Federal Savings Bank leads the way. Colorado Federal is offering an annual percentage yield (APY) of 1.70%, with a minimum deposit of $2500 for its Online Savings Account. The Greenwood Village, Colorado-based bank is a member of the Federal Deposit Insurance Corporation, so accounts are insured up to $250,000, according to the bank’s website.
Other top savings account rates for December 30, 2009 come courtesy of UFBDirect.com and Capital One Direct Banking, both of which are giving annual percentage yields of 1.60% on savings accounts. UFBDirect’s account requires no minimum deposit, while Capital One grants their top yield when you deposit at least $2500. Capital One’s InterestPlus Online Savings also gives you a 10% bonus on interest earned, if you have an active credit card with the bank with an average balance of at least $15,000.
In money market accounts, this week’s top rate is from EverBank. Based in Jacksonville, Florida, EverBank is offering a 3-month bonus rate at 2.51% APY for new accounts. The Yield Pledge Money Market Account does carry a monthly fee of $8.95, however, if your balance drops below $5000. After three months, the rate drops to 1.77% for balances below $50,000. Minimum balance to open is $1500.
Kevin Fleming founded the CreditShout Network in 2008 to help people manage their credit and finances. Kevin wants to make it easy for anyone, regardless of their level of financial knowledge to understand banking and what may seem like the complex world of personal finance.
