Online direct savings accounts often offer higher interest rates than can be found on savings accounts and money market accounts and in some cases, long term certificates of deposit. A direct savings account can be a good addition to any investment portfolio; the key is to select the best direct savings account with the highest saving account interest rates from a dependable bank to earn the greatest rate of return.
Banks that engage in big marketing budgets with direct savings accounts include:
ING Direct and their Orange Savings Account
Emigrant Direct with the American Dream Savings Account and DollarSavingsDirect account
FNBO Direct Online Savings Account
HSBC Bank Online Savings Account
ING Direct Orange Savings Account current rate is 1.10 percent.
The ING Direct savings account has no fees and no minimum balance requirements. Interest on the direct savings account is accrued daily, compounded monthly and credited to the savings accounts available balance at the end of each month. ING Direct can be reached at 1-800-464-3473
Emigrant Bank offers two online savings programs, the EmigrantDirect American Dream Savings Account and the DollarSavingsDirect account. The rate on the American Dream Savings Account is 1.00 percent while the DollarSavingsDirect account has an interest rate of 1.10 percent
There are no fees or minimum balance requirements on the American Dream Savings Account while the DollarSavingsDirect has a $1,000 account balance minimum. Both, EmigrantDirect and DollarSavingsDirect are online banking divisions of Emigrant Bank. EmigrantDirect can be reached at 1-800-836-1997. DollarSavingsDirect is available at 1-866-395-8693.
The FNBO Direct Online Savings Account has an interest rate of 1.10 percent.
FNBO Direct Online Savings Account has no monthly fees or minimum balance requirements and the online savings account can be opened with as little as a $1.00. FNBO Direct contact number is 1-877-370-3707.
The HSBC Bank Online Savings Account has a current rate of 1.00 percent.
This account has no monthly fees and no balance minimum requirements. HSBC Bank customer service representative can be contacted at 1-888-404-4050.
The allure of these bank accounts is the higher interest rates that they offer. But for some savers and investors, interest rates alone are not the only reason to transfer funds to a new online savings account. Additional features and products may also play a pivotal role. Besides direct online savings accounts, the banks listed offer other bank service and products. Some of the bank products are limited to certificates of deposit while others offer a whole host of additional service and savings options.
For more information on online savings account rates please see additional reviews at high interest rate savings account or best online savings account as well as a list of the top ten best savings account rates at savings account rates.