E*TRADE VS Home Savings

Which bank is better for you?

  • Financial Rates: 1.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 3.0 Star Icon
  • Bank Fees: 4.0 Star Icon
No Rate Information
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Pros:

  • No minimum opening deposits
  • Interest rates not tiered
  • ATM fee reimbursement
  • Can open accounts online

Cons:

  • Max-Rate checking account has a fee
  • Limited personal accounts offered
  • Low interest rates on accounts
  • Business accounts limited
  • Financial Rates: 3.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 5.0 Star Icon
No Rate Information
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Pros:

  • Variety of personal deposit accounts
  • Low opening requires amounts
  • Business accounts available
  • Online CDs offers competitive rates

Cons:

  • Cannot open all accounts online
  • Tiered interest rates for MMA
  • Low interest rates
  • High yield accounts have high opening sum
E*TRADE Review

E*TRADE accounts do not have set amounts required to open accounts. You can open the Premium savings, Max-Rate checking, and E*TRADE checking with any amount. To avoid a monthly fee may require a set balance, but not to open the account.

The interest rates for E*TRADE Bank accounts are not tiered. Any balance earns the most competitive interest rate. The highest rates are not competitive with other online-only accounts. But any balance earns the best rate.

E*TRADE Bank accounts offer unlimited ATM fee reimbursement. There are no ATM fees for money withdrawn from ATMs across the nation. To get a refund, you must meet certain qualifications. If you qualify for the refund, the money should be in your account by the end of the day of the ATM transaction. Not all accounts offer ATM fee refunds.

You can open E*TRADE accounts online. They are available for anyone to open across the United States. You can transfer money from external bank accounts into your E*TRADE account.

The E*TRADE Max-Rate checking account has a monthly fee. The fee is $15 a month. Waive the fee by keeping a set account balance in one account or an average in multiple accounts. Having a direct deposit over $200 waives the fee. Making a set amount of trades can also help waive the fees.

The types of personal accounts offered through E*TRADE Bank are limited to new customers. Those accounts include a savings account and two checking accounts. More accounts may be available once you become a customer.

The E*TRADE Bank accounts earn interest, but the rates are low. The interest rates are not competitive with other online accounts. Any account balance earns the most competitive rate. Even the highest rates are not competitive with other online accounts.

E*TRADE offers limited accounts for small businesses. They do not offer traditional accounts for small or commercial businesses. The accounts offered to small businesses include retirement accounts.

Read the full E*TRADE review.

Home Savings Review

Home Savings offers a variety of personal deposit accounts. They offer interest earning and free checking accounts. They offer a checking account for students and those over 50 years old. They offer a holiday savings account and savings accounts for kids and youth. Home Savings offers an online savings account and CDs. The CDs range from 28-days to five-year terms.

Most accounts have low opening requires amounts. The online savings account requires $50 to open. The holiday savings and youth savings accounts require $10 to open. Most checking accounts requires $25 to open. The interest earning checking does require $100 and must be opened in a branch location. The regular CDs require $500 to open.

Home Savings offers a variety of business accounts. They offer checking and savings accounts for small or commercial businesses. Lending options, money market accounts, and deposit services are also offered for businesses. You must visit a branch location to open business accounts.

Home Savings offers two CDs, for new investments, with competitive rates. The terms are an 18-month and 36-month CD. Money deposited in these CDs cannot be from other accounts in Home Savings accounts. The interest rates are competitive with other online CD accounts. These CDs require $500 to open and can be opened online.

Not all Home Savings accounts can open online. Some accounts require visiting a branch location, including the interest-earning checking account. Visit a branch to open the holiday savings account and savings accounts for kids.

The MMA and the Platinum savings accounts have tiered interest rates. These accounts require a $100,000 balance to earn the best rates. Balances lower than $100,000 still earn interest, just lower rates.

Most Home Savings accounts do not offer competitive interest rates. Some accounts have tiered interest rates. Other accounts have interest rates similar to typical brick and mortar bank rates. Only a few accounts offer rates competitive with online accounts.

The high yield Home Savings accounts have high required opening amounts. The Platinum savings account requires $5,000 to open. The money market account requires $10,000 to open. The money market account can be opened online. To open the Platinum Savings requires a branch location.

Read the full Home Savings review.

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American Express
Savings (Rate as of 11/21/2024)
APY 4.00%
Rate 3.92%
Min to Open $0
Min to Earn APY $0
Monthly Fee $0.00
Min to Avoid Fee $0
Checkbook No
Member FDIC
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EverBank
Savings (Rate as of 11/21/2024)
APY 4.75%
Rate 4.64%
Min to Open $0
Min to Earn APY $0
Monthly Fee $0.00
Min to Avoid Fee $0
Checkbook No
Member FDIC No monthly maintenance fee, $0 to open, easily grow your money
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