Kiplinger’s top picks for online savings

January 23, 2007 at 1:48 pm 1 comment

Kiplinger’s Personal Finance magazine featured the best “cyberbanks” for their savings and checking accounts, user-friendly sites, and access to funds. See which banks made the cut.

For the best online savings account:
HSBC Direct with an annual yield of 5.05%.

  • Quick customer service.
  • ATM card.
  • a $1 minimum balance.
  • and typically one of the highest yields.

For being the simplest to use:
ING Direct with an annual yield of 4.50%.

  • Streamlined Web site and painless four-step application are painless.
  • No minimums.
  • No monthly fees.

For access to funds:
E*Trade Financial with an annual yield of 5.05%.

  • E*Trade users can access deposits on the same day.

For the best online checking account:
EverBank with an annual yield ranging from 3.25% for balances less than $10,000 to 4.41% for $10,000 or more.

  • EverBank treats checking almost like savings.
  • Minimum of $1,500 to open an account.
  • Introductory rate of 6.01% for the first three months (before it goes down to the market rate).

For the best place to vet online banks: (interest rates and features vary daily).

  • Interest rates and features change daily.
  • Fast way to compare the full range of standard bank offerings as well.

Moneytalk uses ING’s Orange Savings. It’s easy to use and makes managing accounts much, much simpler.


Entry filed under: Saving and Investing.

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1 Comment Add your own

  • 1. Larry  |  December 28, 2008 at 12:51 pm

    You need to update the rates on your page.


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