fed | Online Savings Blog

Capital One Adds Online Savings Account
03.17.08 | Online Savings Accounts | 2 Comments | by junger

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Capital One ("What's in your wallet?") has added an online savings account to their offerings, touting a 3% APY for balances under $10,000 and 3.85% APY for accounts over $10k.

There's no minimum balance, no fees, and can link up to an external account (even outside of Capital One).

According to Bankrate, the 3.85% APY would make it one of the highest currently available, while the 3% puts it near the bottom.

It doesn't say anything about intro rates, so I'm assuming that the APYs are good for awhile … at least until the Fed cuts rates again and the online savings accounts follow.

Click here to find out more about Capital One's online savings account.
Fed Cuts Rates, APYs Drop Again
01.27.08 | Online Savings Accounts | 1 Comment | by junger
Not surprisingly, after the Fed cut interest rates in an emergency session, a number of online savings accounts have dropped their APYs.

Among the notables:
- ING Direct: Orange savings account down to 3.65% APY, Electric Orange down to 2.50% ($0-49,999.99), 4.00% ($50,000-$99,999.99) and 4.25% ($100,000 or more)
- WTDirect Savings Account: 4.30% APY
- HSBC Direct: 4.25%
To find out if your account fell and to see which bank is winning the savings account war, check out BankRate's roundup.

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