FNBO Online Savings Account to Drop to 5.05% APY

09.26.07 | Online Savings Accounts | 0 Comments | by junger

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FNBO, which hit the scene with a 6% APY promo offer on its online savings account, will drop to a normal rate of 5.05% come September 28, according to Bank Deals.

fnbodirect.jpg

A reader just forwarded me an email from FNBO Direct in which they stated that the yield after 9/28/07 will be 5.05% APY. This is below the pre-promo yield of 5.25% APY, however, I guess it's to be expected after last week's Fed rate cut.

FNBO's Web site doesn't say anything about the normal rate, only suggesting that it will be near the previously offered 5.25%.

Of course, after the controversy where they threatened to close some accounts and later apologized, saying no accounts were being held, I'm not sure how many customers actually stuck aroun .

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