E-Loan Intros Savings Plus High-Yield Online Account

09.17.08 | Online Savings Accounts | 0 Comments | by junger

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E-Loan, which at one point had the highest online savings account, has introduced a new product: the Savings Plus account.

Offering a tiered APY, the Savings Plus Account requires monthly deposits of at least $100.

Accounts that do not have at least $100 deposited for more than 60 days will be converted into a standard online savings account, according to the terms of service.

Here's the breakdown on the tiered APYs:

Current users of E-Loan's online savings account can convert to a Savings Plus account.

Existing E-LOAN Savings Accounts can easily be converted to Savings Plus. Just log in, click "Transfer Funds" and set up a recurring deposit of at least $100 a month and type in Promo Code RREC08.

There are no fees with the account, but a $5,000 minimum is needed to open.

E-Loan's online savings account is currently offering a 3.01% APY.

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