If you’re looking for a savings account with competitive rates, Bank of Internet is offering their Advantage Savings Account at 2.50% APY. This is a savings account that give you the flexibility of bill payment services and higher than average savings account rates. To open the account there is a minimum initial balance of $100.
Some great perks on the savings account are:
- There are no monthly maintenance fees
- No minimum balance required (aside from the initial deposit to open the account)
- 3 bill payments per month either to yourself or to 3rd parties
- the 2.50% APY currently applies to all balances
Although this account has transaction limitations and there is a $10 charge on over withdrawals this savings account is very decent as it encourages many consumers to save. In economic hardships like these it is vital to save as much as you can for unexpected rainy days. And you can also rest assured that this bank is FDIC insured (# 35546).
What’s the interest on your savings account? If you have a higher interest bearing one please share with the Go Banking Rates community. Or check out other great RATES we’ve gathered for you.
