Heritage Direct Online Savings Account Now 5.20%
Sep 9, 2006 - 12:34 PM by Ken Tumin
Heritage Bank Online increased the rate on its savings account from 5.06% to 5.20% APY. The last rate hike was about two months ago. Since I first reported on this online savings account in April, the rates have remained competitive.
The main problem with this online savings account is that if your balance falls below $1K, there's a $10 monthly fee and you earn no interest. Also, there's no ATM or check writing. So it really doesn't have much advantage over Emigrant Direct. It's going to have to offer much higher rates to make up for the $1K minimum.
Heritage Bank Online is run by Heritage Bank N.A. of Spicer, Minnesota which is FDIC insured. Bankrate.com rates this bank as 4 of 5 stars (financially sound).
The main problem with this online savings account is that if your balance falls below $1K, there's a $10 monthly fee and you earn no interest. Also, there's no ATM or check writing. So it really doesn't have much advantage over Emigrant Direct. It's going to have to offer much higher rates to make up for the $1K minimum.
Heritage Bank Online is run by Heritage Bank N.A. of Spicer, Minnesota which is FDIC insured. Bankrate.com rates this bank as 4 of 5 stars (financially sound).
Featured Accounts
Useful Resources
Nationwide Savings Accounts
Be the First to Comment
Post a Comment