In this report
Overview
Finding deals online
December 2006
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You can find great deals online
The online banks below require zero or $1 minimum balances to open and maintain a savings account and charge no monthly service fees. In early October, all were offering the annual percentage yields (APYs) below, regardless of the balance on deposit. The accounts are available in all 50 states and the District of Columbia. Yields can fluctuate.

Online bank/product
Web site
APY (%)
Comments
Apple Bank for Savings Grand Yield Direct
5.25
No check writing.
Capital One Direct Banking
4.8
Free ATM card.
Citibank Direct e-Savings Account
5.0
Linked checking account. Free ATM/debit card.
Emigrant Direct American Dream Savings Account
5.05
No check writing.
HSBC Direct Online Savings Account
5.05
Free ATM card for use with savings account.
ING Direct Orange Savings Account
4.4
No check writing.
Sources: Apple Bank for Savings; Bankrate.com; Capital One; Citibank Direct; Emigrant Direct; HSBC Direct; INGDirect.