One interesting thing to note is that ING Direct didn't cut their Orange Savings account yield. It's still 2.75% APY. However, their CD rates and Electric Orange checking account rates were slashed. For balances of under $50K, the checking now only pays 0.50% APY. That's getting close to zero.
WaMu's online savings account yield is also getting close to zero. WaMu yet again lowered the yield on this account. It's now 1.50% APY (down from 2% APY).
Below are a few more of the recent checking and savings account rate drops. I'll provide a full update in my Saturday weekly rate summary.
- UFB Direct Traveler Savings - 3.15% APY (was 4%)
- 1st Constitution Direct 3mo promo - 3.75% APY (was 4%)
- GCF Bank's CyberSaver 3mo promo - 3.00% APY (was 4%)
- CNB Bank Direct - 3.50% APY (was 3.75%)
- Corus MMA - 3.65% APY (was 3.75%)
- UmbrellaBank MMA - 2.75% APY (was 3.40%)
- E*Trade Max-Rate Checking - 2.25% APY (was 2.90%)
- WaMu Online Savings - 1.50% APY (was 2.00%)
- ING Direct Electric Orange - 0.50% APY under $50K, 2.85% APY $50K-$100K, 3.05% APY $100K+ (was 1%/2.90%/3.25%)