E-loan has a CD rate of 1.26 percent annual percentage yield (APY) for a 1-year term. The interest rate on this certificate of deposit is current as of June 1, 2011, and can change at any time. Other online CD rates and terms include:

• 1.05 percent APY for 9 months
• 0.75 percent APY for 18 months
• 1 percent APY for 2 years
• 1.15 percent APY for 3 years
• 1.35 percent APY for 4 years
• 1.9 percent APY for 5 years
• 2 percent APY for 6 years

Shorter certificate of deposit terms than those listed are also available. You’ll need a minimum of $10,000 to open a certificate of deposit at E-loan. The CD rates assume that the principal and interest will remain on deposit for the full term. Early withdrawal of funds results in a penalty fee.

E-loan also has an online savings account with tiered savings rates. The rates include:

• 0.2 percent APY for balances of $5,000 to $9,999
• 0.5 percent APY for $10,000 to $24,999
• 0.55 percent APY for $25,000 to $49,999
• 0.6 percent APY for $50,000 to $99,999
• 0.65 percent APY for $100,000 and up

E-loan offers banking services nationwide. It is a wholly-owned subsidiary of Banco Popular North America. Accounts are insured by the Federal Deposit Insurance Corp.

Hudson City has a money market that earns 1.25% APY. This money market rate applies to balances of $2500 and more. If your balance fall below 2500 you’ll earn 1% APY. This rate is current as of 3/22/11. The Hudson City MMA account features:

• Interest rates are subject to change without notice
• Interest is compounded daily and monthly
• Statement format
• Limited withdrawals and transfers
• Insured by Federal Deposit Insurance Corp. (FDIC)
• Telephone banking

Hudson City also offers a money market checking account that earns interest. Balances of $25,000 and up earn a higher interest rate, which is currently 0.85 percent APY. Accounts with balances below $25,000 earn 0.6 percent APY. Money market accounts with balances of less than $10,000 are charged a $10 monthly fee. Accounts also have limited check writing and third party payments, unlimited deposits and in-person withdrawals and free debit/ATM cards.

Bank accounts at Hudson City are available to individuals who live or work in New York, New Jersey, Connecticut, Pennsylvania and Delaware. Accounts can be opened online. Hudson City has been named by Forbes magazine to be among the best managed banks in America.

Saving money is one of the smartest financial moves you can make whatever the state of the economy. Many Americans have changed their spending ways and are adding to savings accounts. The personal savings rate was 5.3 percent of disposable income in November, compared with 5.4 percent in October, according to a recent report from the Bureau of Economic Analysis.

Although savings rates are not very high–savings accounts are paying an average of 0.39 percent interest and money market accounts are averaging 0.32 percent–it still makes sense to build a nest egg. Getting started on a savings program now can help you become disciplined about building up an emergency fund. If you stick with a savings plan, the money will add up sooner than you think, especially if you put it away and don’t touch it until it’s really needed.

Shop around to find the right savings account for your money. If you know that you won’t need the funds for a year or two, consider opening up a certificate of deposit to earn a higher interest rate. CD rates for a 1-year term are averaging 0.77 percent, but if you shop around to compare bank deals you should be able to find an account with higher promotional rate.

SFGI Direct has an online savings account with a 1.41% annual percentage yield (APY). You can open a savings account online. Details of the offer include:

• No monthly service charge
• Minimum opening balance of $500
• Minimum balance required to earn interest is $1
• Insured by the Federal Deposit Insurance Corp. (FDIC)

The online savings rate is current as of Dec. 3, 2010. Interest on savings accures daily and is compounded monthly on the last day of the statement period. Savings rate is not guaranteed and could change at any time.

You can fund the savings account by transferring money from another bank, and you can only linke to one external account. You must open a high interest savings account online. The maximum opening deposit that can be made is $25,000. The opening deposit will be available five business days after your external account is charged.

The savings offer is for personal accounts only; the bank does not offer business accounts or individual retirement accounts (IRAs). SFGI Direct is a division of Summit Community Bank of Moorefield, W.Va., which is a financial holding company that serves customers in parts of West Virginia and Virginia.

EverBank‘s Yield Pledge Money Market Account is currently yielding a first year APY of 1.51%, soundly beating the national average for money market rates by nearly 75%. The 1.51% APY does, however, come with a few strings attached.

To begin with, rate is actually 1.26% APY but it comes with a 3 month promotional rate of 2.25% APY which averages out to 1.51% over the course of 12 months. As of now the second year will feature the 1.26% APY but keep in mind this is a variable interest rate that is subject to change at anytime, which means it could potentially go up or down.

Secondly, although the minimum balance required for this account is $1,500 you will have to maintain a minimum balance of at least $5,000 to avoid the monthly fee of $8.95. So if you were to simply open this account with the minimum balance requirements your accrued interest would be completely wiped away with fees (and them some).

Unless you can maintain a $5,000 monthly balance this account is not worth it. However, if you generally keep a large amount of money in your liquid savings accounts then this account will provide you with one of the top FDIC insured money market yields on the market.

Online banks are overall offering better savings account interest rates than local banks and credit unions. The primary reason for this is that online banks have much lower overhead costs, and do not need to maintain a brick and mortar physical locations. Often you’ll be able to find better savings rates in local community credit unions. However, as interest rates continue to stay low, online banks have been the place to go to find the best savings rates.

Top Money Market and Savings Rates from Online Banks:

• SallieMae’s Online Savings Account: 1.30% APY with no fees or minimum balance requirements. Sallie Mae dropped it’s rate last week to 1.30% APY from 1.40% APY.
• Ally Bank’s Online Savings Account: 1.19% APY with no fees or minimum balance requirements.
• Discover Bank’s Online Savings Account: 1.15% APY with a $10,000 minimum balance required.
• GiantBank’s Online Savings Account: 1.01% APY with a $1,000 minimum balance required.

Zions Bank has an Internet money market account with an annual percentage yield (APY) of 1.11%. The money market rate is currently one of best rates for a money market, compared with the average of 0.33% APY. The money market rate is current as of April 26, 2010. Details of the money market offer include:

• Minimum opening deposit if $1,000
• Must have a balance of at least $2,500 to earn promotional money market rate
• Interest is variable and can change at any time
• Fees may reduce earnings

Zions Bank also has an Internet savings account with a 1.11% APY. To earn the interest rate you must have a balance of $1,000, but the minimum opening deposit is $100. The interest rate for the online savings account is variable and can change at any time. The savings account is only available to consumers and can also be opened in the name of a trust.

Both online accounts have no monthly fees or minimum balance fees. They are also insured by the Federal Deposit Insurance Corp. (FDIC). Both the savings account and money market account can be accessed online 24 hours a day. Zions Bank is based in Salt Lake City.

Northpointe Bank has 3-year certificate of deposit with an annual percentage yield (APY) of 2.1%. Other details of Northpointe certificate of deposits include:

• Withdraw funds after 18 months without a penalty
• $5,000 minimum deposit required to open account
• CD must be opened with funds not currently deposited at Northpointe Bank
• Deposits insured by Federal Deposit Insurance Corp. (FDIC) up to $250,000
• CD rate not valid with other offers
• Automatically renewable upon maturity

Northpointe Bank has other certificates of deposit with terms ranging from 6 months to 5 years or more. Other CD rates include:

• 1% APY for 6 to 11 months
• 1.35% APY for 12 to 17 months
• 1.55% APY for 18 to 23 months
• 1.7% APY for 24 to 29 months
• 2.4% for 48 to 59 months
• 2.7% for 60 months

The bank also offers a high yield money market account with a 1.4% APY. The money market requires a minimum deposit of $100,000. Northpointe Bank is based in Grand Rapids, Mich., and is locally owned and operated. If you live outside of Michigan you can call the bank to find out rates for your state.

The FDIC released this press release on 7/21/2010 which announced that the standard maximum deposit insurance amount has been permanently increased to $250,000. Here’s an excerpt from the press release:

On July 21, 2010, President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act, which, in part, permanently raises the current standard maximum deposit insurance amount to $250,000. The standard maximum insurance amount of $100,000 had been temporarily raised to $250,000 until December 31, 2013. The FDIC insurance coverage limit applies per depositor, per insured depository institution for each account ownership category.

The temporary increase from $100,000 to $250,000 was effective from October 3, 2008, through December 31, 2010. On May 20, 2009, the temporary increase was extended through December 31, 2013.
One thing that was not mentioned in the press release was the retroactive increase to Jan. 1, 2008. IndyMac depositors and depositors from a few other banks that failed in 2008 before October will now be able to recover some or all of their money that had been uninsured. Checks will be mailed starting on 7/22/2010.

The deposit insurance change affects credit unions as well – here is the press release by the NCUA.