With the end of HSBC Direct's 6% promotion, you may want to consider other savings accounts with low minimums that offer rates 0.25% or higher than HSBC's current standard rate of 5.05% APY. Below are a list of four savings accounts with low minimum requirements, rates of 5.30% APY or higher and with some history behind the high rates. But as we learned yesterday from Amboy Direct's rate drop, there are no guarantees that they'll remain the rate leaders.
- AmTrustDirect's e-Money Market - 5.36% APY since 2/15/07, 5.30% APY from 9/27/06 to 2/14/07. $1K to open, but no minimum/fees afterwards (see post)
- UFB Direct's High Yield Money Market Savings - 5.31% APY. It has remained between 5.27% to 5.32% since 9/13/06. No minimum balance (see post) [Update 7/7/07: 5.31% is now only available in a new account (post)]
- iGObanking's Savings Account - 5.30% APY since 11/27/06. No minimum balance (see post)
- GMAC Bank's Money Market Savings - 5.30% APY since 4/20/07, 5.10% APY from 3/16/07 to 4/19/07, more rate history here. $500 minimum to open and avoid fees (see post)