The Dollars and Sense of a Dollar Savings Direct Online Savings Account

In three words: fantastic interest rates.  As you compare online savings accounts, a high yield savings does not get much higher than 1.20% APY. DollarSavingsDirect hosts one of the best savings account. As one of the highest saving rates available, an online bank account from Dollar Savings Direct is a no-frills way to maximize your return.  While DollarSavingDirect.com leaves a lot to be desired in terms of easy access to information.  However, the company has been in business for over 160 years and there is strength in both its history and its track record as one of the best bank financial institutions in the nation.  And as you compare online savings account interest rates there is no disputing your Dollar Savings Direct account has one of the best savings rates available.

Ready, Set, Save with Dollar Savings Direct

Accounts must be opened with $1,000 but there are no daily balance requirements or fees of any kind.  The only requirement is you have an existing and active personal checking account at any traditional or online bank.  Interest is compounded daily and credited monthly to take advantage of the best daily rates as they are available.  Since the account’s rates are variable and reflect market conditions the daily rate maybe higher or lower than the 1.20% APY.  However, all Dollar Savings Direct accounts are backed by the FDIC so regardless of market conditions you know your money is safe.  Your Dollar Savings Direct high interest savings account can also be linked to up two other accounts one of which is the checking account used to fund this online savings account.  The funding account becomes your means of access to your Dollar Savings Direct online savings account.  Since you access your savings account through an existing checking account there you are never assessed ATM or other transaction fees so your high interest rates are not consumed by fees.  You may also link any one of your other accounts to this savings account.  Once your account is open you can add or remove beneficiaries and joint depositors through the Dollar Savings Direct online bank portal.  You can also easily schedule automatic transfers or set up direct deposit from the portal.

A Special Consideration about FDIC Insurance

You should take note if you also maintain an Emigrant Bank account FDIC regulations insure the first $250,000 per depositor and in this case that would include the combined balance from Dollar Savings Direct and Emigrant Bank.  Visit the website for more information on how you can open multiple accounts under different ownership classes for deposits in excess of $250,000.

If a High Interest Rate is Your Main Goal—Dollar Savings Direct Should Be Your New Bank

If all you need from your online bank is the best high yield savings then a Dollar Savings Direct account is just your ticket to high interest rates.  While www.dollarsavingsdirect.com skimps on the bells and whistles you might be used to with the websites for other online banks, they are one of the best high interest savings accounts available today.  Savings Accounts are easy to open with a $1,000 opening deposit and easy to maintain because there are zero penalties or monthly fees and you do not have to maintain a specific daily balance to earn the high interest rates. The Dollar Savings Direct Review goes into more detail about the company, its history, ratings, and banking services.

Top 100 Money Market Account, Highest Yields

Nationwide Bank does a lot of things well and having one of the best money market rates is part of their tradition of excellence.  Bank Rate, an independent interest rate comparison website, named the Nationwide money market account “Top Tier, 100 Highest Yields” for the first quarter of 2010 (second quarter rankings are not yet available).   And since the purpose of a money market account is to marry maximum flexibility with the highest current money market rates, you can feel confident you will have frequent access to your money while it is growing at one of the fastest rates available.  There is a minimum opening deposit and daily balance requirement of $1,000.

Benefits of a Nationwide Bank High

Bank of Internet CD accounts

Through Bank of Internet’s online banking services you can open a  high yield CD account completely online. The possible terms range from three months to five years. If you are looking for month cd rates you will have to look else where. An advantage offered by Bank of Internet when it comes to selecting a term, is that you can be very specific about what you want for a maturity time line. Your options are not limited to the standard 3 months, 6 months, 12 months, and so forth. At Bank of Internet, you can select high rate cd accounts with the specific term of… [Bank of Internet CD accounts]

Money Market Accounts from NOVA Bank

Personal Money Market Account

In order to open a new money market account at NOVA bank,  the initial deposit requirement is $1,000, if it is a personal account.  This is also the required amount you need to maintain in order to avoid a monthly service fee. You do have a limited number of allowed transactions each months so be careful with the ATM card that is offered with the account.

Business Money Market Account

The initial deposit requirement is $2,000, if it is a business money market account. You also need to maintain this $2,000 daily minimum balance in order to avoid the monthly $10 fee. This is the only real difference between the personal and business money market accounts at NOVA Bank. The… [How does NOVA's money market account stack up?]

In this video review of American Express, we outline the strength of their company as it relates to online banking. They recently have added bank account services such as high yield savings accounts and certificates of deposits accounts. We talk about the advantage of opening a bank account with American Express even though their rates aren’t the best rates, they are at least very competitive rates. The benefit of using American Express for banking is the ease for paying off your American Express credit card(s). Of course, American Express is most well known for it’s credit card offers and services, however, American Express realized that online banking is a great service for them to provide their customers. Also, offering online banking will… [Video Review of American Express]

Superior Interest Rates, Superior Savings

You work hard enough for your money so Discover Bank gives you the best savings account interest rates—at five times the national average of regular savings accounts.  Not only do you earn the best interest rates, but the account is super easy to open with a mouse click to the online form or a telephone call to their equally superior customer service team.  In case you are skeptical of the claim “five times” the interest of your savings account, Money Magazine has distinguished Discover Bank time and time again as one of the best online savings accounts available today.  Not only are… [Online Savings Accounts from Discover Bank]

Nexity Money Market Accounts

Nexity offers three varieties of high rate money market accounts. In this review we will discuss the regular money market account and the business money market account together since they are so similar in requirements and features. Then we will take a look at what Nexity terms it’s money market advantage account.

The first two accounts, personal money market and the business money market account, have a minimum initial deposit requirement of $1,000. The difference between the two bank accounts is that (although you can open them both with the same initial deposit) you must keep $5,000 in the business account to avoid a monthly fee… [Nexity Bank money market accounts…not the best rates.]

No matter what your long term saving goal is, a State Farm Bank CD is the solution.  These high rate cds are the perfect blend of safety and growth to meet your goals.  State Farm has four options from which to choose: Fixed Rate, Roth IRA, Traditional IRA or Coverdell Education plans.  All State Farm Bank CD accounts are backed by the FDIC. State Farm’s Certificates of  Deposit interest rates are compounded daily and credited at maturity if  the term is 12 months or less.  On their website, State Farm does not quote APY rates unless you enter in your zip code. We tested three zip codes and came up with the… [Got Goals? Meet State Farm Bank CDs]

The Ally Bank Money Market Account

Saving when you need to spend or spending when you need to save—sometimes it is hard to know your top priority at the moment. An Ally Bank Money Market Accounts can take the confusion out of managing your money because it earns high interest rates—often better than standard savings accounts—but with the flexibility of a paper checks or a debit card in one simple account. It is simply one of the best money market accounts available.

How Ally Money Market Works

Ally Bank has made money market accounts almost foolproof. There is no minimum balance to open an account but the moment you open it, it begins earning interest better than most savings accounts. The current… [The Totally Free Money Market Account from Ally Bank]

Sallie Mae CDs

Sallie Mae, up until recently, was solely a lending source for educational needs. While they still have a strong educational focus, they have now expanded their offerings to high yeild  CDs and high interest  savings accounts. If at this point you are not sure which banking product you need, please see Bank Truth’s articles about the pros and cons of  different types of savings vehicles.

Sallie Mae Certificates of Deposit come in three varieties: 12 month, 36 month, and 60 months. As in most cases, the longer the term the higher the… [Sallie Mae CDs ...not just for students!]