Emigrant Direct Savings - 3.0% APY, No Fees, No Minimums
I’m back from vacation, welcomed by some good comments, some spam(!) comments, and a new competitor to ING Direct. I currently park my emergency cash at the increasingly popular ING Direct, which is a savings accounts with competitive interest rates (currently 2.35%), no minimum balance, and no account fees.
However, popularity breeds competition, which is good for us savers. While on Bankrate.com, I came across an ad for Emigrant Direct, an ING knock-off if there ever was one. It also offers a savings account with no minimums or fees, but adds 3.0% APY (”America’s Highest Rate”). Not bad! It is a division of Emigrant Savings Bank, based in New York City. I’m going to wait a little bit before transferring my money there, as I have a mountain of bills and work to worry about first. Also, a rate war might be brewing…
Find more in Deals & Offers | 1/7/05, 9:55am | Trackback
January 7th, 2005 at 11:15 am
I may look into Emigrant Direct for a savings account if ING sticks around at 2.35% for too much longer. This reminds me, yesterday I walked past an Emigrant Savings branch here in NYC and did a double-take when I saw what they were offering for 5yr CD’s in the window. I don’t remember what it was exactly, and I can’t seem to find it on the site you linked, but I’m pretty sure it was more than what ING offers.
January 7th, 2005 at 7:58 pm
Do you remember what the rates were? I called them at their 800#, but they were already closed on the East Coast. Pretty amusing, as the recording was a guy with a Brooklyn-ish accent. I wonder if the CA bank recordings have CA-accents and I just don’t notice it?
January 8th, 2005 at 9:54 am
I wish I could remember the rates. If I’m over that way again next week I’ll have a look and let you know.