Countrywide increased the yield on its new saving account from 5.00% to 5.25% APY on balances over $50K. The rate also increased 0.25% for smaller balances. The APY is now 4.50% for balances between $1K and $50K. No interest is earned for balances under $1K. The last Savingslink rate hike occurred 3 weeks ago when the yield on large balances increased from 4.50% to 5.00% APY.
Savingslink is a new savings account at Countrywide. I first mentioned it in this May 19th post. It's very similar to other online savings accounts. There are no minimum balance requirements and no monthly fees. You can link up to 3 external accounts, and all links can be done online.
One important note regarding Countrywide is that it has been reported that it does a hard credit pull for every new account that you open.