APY

At a time when most banks and savings institutions are sending out notices saying that interest rates are falling, SmartyPig announced this morning that it is increasing the interest rate it pays savers from 2.01% to 2.15% APY. While these days the only companies raising interest rates are credit...

A year ago, when the economy was all roses and executives didn't have to fear public backlash for taking a jaunt in the corporate jet, the interest rates paid for online savings accounts couldn't stop going up. The competition to recruit new customers was so fierce that banks engaged in pricing...

Earlier this month I took a look at Bank of America's saving plan, called Keep the Change, which didn't live up to the hype, due mostly to the abysmally low interest rate that your saved change earned.One of the commentators shared why they thought Bank of America's plan was worthwhile, including...

We all know it pays to read the fine print when opening new accounts and doing business transactions, but many times I don't think we realize that not reading the fine print can cost us, even if the new account has to do with saving money. I read about a great example today on the Online Savings...

Earlier today I found out about a new entrant to the high yield online savings market on CNN which is offering a savings account with an interest rate of 3.75%. Dollar Savings Direct boasts that this new savings account has America's highest rate* a full quarter of a percent above its nearest...