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First $250 in a high-interest online savings account

January 10th, 2008 at 06:45 am

I have opened a high-interest online savings account for my initial $250 "investment". This is money I earned selling handmade indie crafts in December. (If only every month were as good!)

The deposit cleared today, so I am officially earning interest. I chose EmigrantDirect.com. I already have a savings account with them and have been very happy. The Web site is easy to use and getting your money in and out is fast and easy. It currently has an interest rate of about 4.5 percent--with an APY of about 4.65 percent-- much higher than the measly .05 percent my normal bank offers!

When I was shopping around, I found that Bankrate.com has an easy to use tool listing the highest paying accounts, their minimum balances, etc.

Let's see if I can figure out how to link to Bankrate's Guide:

http://www.bankrate.com/brm/rate/brm_mmasearch.asp

4 Responses to “First $250 in a high-interest online savings account”

  1. Aleta Says:

    Congratulations. I also have Emigrant Direct and it is 4.65%. I also like the fast transfers.

  2. luxliving Says:

    Another happy EmigrantDirect customer chiming in!

    Good that you got it moved to where your money is working for you!

  3. Broken Arrow Says:

    Congrats! Progress is a wonderful thing.

  4. Ima saver Says:

    Good for you!

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