Today’s Best Rate for Online Savings Account: Discover Bank

The top online savings account rate with FDIC insurance currently goes to Discover Bank. Their online savings product comes with a minimum balance requirement of $500 and an interest rate which, they claim, is 4x the national average.

Check out Discover Bank High Yield Savings Accounts to learn more.

Details, Terms and Conditions of Account:

- The APY for the Online Savings Account as of December 14, 2010 is more than 5 times the Read more…

SmartyPig Review: Unique approach to savings with great rate!

The SmartyPig online savings account is offered in partnership with West Bank and comes with one of the best interest rates on the market. We were surprised to hear that on May 19, 2010, the APY on total goal balances of less than $50,000 will go up to 2.15% (the current APY is 2.01%). This positive interest rate adjustment goes against current money market and online savings rate trends. The average Read more…

Discover Bank’s CD Rates and Money Market Account

Discover Bank, originally known as Greenwood Trust Company before joining Discover Financial Services in 2000, offers FDIC insured bank CDs (certificates of deposit) as well as money market accounts and high yield online savings accounts. By consistently offering interest rates that beat the national average they have grown to manage over $25 billion in consumer deposits.

Discover Bank’s Popular Products:

Discover Bank’s 12-month CDs : This is a 12 month timed Read more…

SallieMae: CD rates and savings account review

SallieMae, traditionally a provider of student loans both federally and privately, has entered the online banking retail space by offering both “high yield savings accounts” and high interest CD’s (certificate of deposits). These accounts are federally insured by the FDIC and SallieMae claims the rates to be 5x the national average.

Their online savings account comes with no monthly fees and no minimum balances, similar to other online banking products such as Read more…

Lending Club’s Net Annualized Returns to Investors: 9.65% APY

Lending Club has come into our radar after raising their net annualized returns to their investors by 0.60% APY. A few months ago Lending Club had provided average returns of 9.05% APY, now this number has increased to 9.65% APY.

What is Lending Club?

Essentially Lending Club has set out to eliminate the complexity of the banking system by allowing borrowers and lenders to directly invest from each other through a moderated online platform. Investors open an account and build Read more…