Question

Which online savings account has the highest interest rate?

Answer 1

I have never heard of emigrantdirect, but I have used ING Direct for about 6 years now and have never had a problem with them. They have a promo right now where the rate is 4.75% until 4/15/2006, after that it goes back to the regular rate of 3.8%. They have no minimums, no fees, and always transfer money quickly and without a hassle.

Answer 2

I use Vanguard.com & Fidelity.com ... Money market accounts. NO FDIC insurance, but it does not worry me. Over the long term I think these funds outperform the banks, because the banks don't have to raise rates at any given point. The money market funds are always buying higher yielding securities.. . check bankrate.com for yields on both savings vehicles.