Fed Cuts Rates, APYs Drop Again

01.27.08 | Online Savings Accounts | 1 Comment | by junger

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Not surprisingly, after the Fed cut interest rates in an emergency session, a number of online savings accounts have dropped their APYs.

Among the notables:

  • ING Direct: Orange savings account down to 3.65% APY, Electric Orange down to 2.50% ($0-49,999.99), 4.00% ($50,000-$99,999.99) and 4.25% ($100,000 or more)
  • WTDirect Savings Account: 4.30% APY
  • HSBC Direct: 4.25%

To find out if your account fell and to see which bank is winning the savings account war, check out BankRate's roundup.

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» HSBC Online Savings Account Drops to 3.80% APY