What is the best online savings institution?
Jean from GA
I use ING Direct (www.ingdirect.com). There is no minimum to open an account, no fees, and the interest rate right now is 4.50%. I have had my account for about 2 years and have been very satisfied.
Thank you for such a quick reply. I have money in my Paypal account and would like to open a savings account to earn some extra cash. I am wanting to send the money from Paypal to the savings account. So I may try this. Thanks again. Jean
I agree, ING is your best bet. THe rates have jumped one percent in the 9 months that i have been using them and have been very satisfied as well.
You could google and find some saving institutions.
I suggest going to www.bankrate.com.They will give you the best rates in the country.For example I looked up CD's and found AM TRUST in Cleveland Ohio giving 5.36% for a one year CD with a deposit of $1,000 as of Nov.29 2006.
I like ING, Inc. It has good interest and has been in business for a while.
My son recently located HSBCdirect.com which offers 5.5% interest, but we dont know anything about it.
I use EmigrantDirect www.emigrantdirect.com They pay 5%. I've had it for over a year now, and I'm very pleased.
I have a checking account at presidentialbank.com paying 4.5% apy and a premier savings account paying 5.25% apy. There's no min. balance on the savings account and $1,000 min. on checking to get that interest rate. The problem with bankrate.com is it doesn't list all the online banking institutions like presidential. I'm guessing banks actually pay bankrate.com to be listed on their website so it's pretty biased.
We are very satisfied with the service we receive using ING Direct. The interest rate is very good, there are no minimum balances, no fees, and they provide a variety of services.
Thank you so much everyone!!! I will start today researching where to stash my cash. If I keep it here in my local bank, it's just too darn easy to get to, that's why I have been leaving it in Paypal. (It takes a couple of days to get to my local bank from Paypal and to be honest, sometimes you don't want the item as much by then). Everyone here is always so helpful, with such a postive outlook. Thank you again.
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