E-Trade Bank
Online investing companies are branching out into banking, it appears, with E-Trade—one of the Internet’s most popular investing websites—now offering E-Trade banking services. This allows anyone who uses E-Trade investing to also have E-Trade Bank accounts for gaining interest on their money while waiting for new investments to lock into. We here at HighestInterestSavings.com thought we should definitely look into this.
E-Trade banking offers savings, checking, and CD investments. The E-Trade savings account was of most interest to us, of course, so we looked into that first.
E-Trade’s online savings account has no minimum deposits and no fees attached wile offering an almost undheard of 1.95% annual percentage yield (APY). Transfers to and from any institution into or out of your E-Trade savings account are free as well. That rate, by the way, is half a point higher than the E-Trade banking CD.
E-Trade Bank CD rates come up to 1.4% APY with a 5-year CD, going down to 0.60% APY for a 3 month term. Unlike the online savings account, of course, those are fixed rates.
Finally, the E-Trade Bank checking account offers a 0.75% interest rate on balances over $5,000 and some other great options for those who need online checking. Including free, unlimited online bill payments and no ATM fees at any ATM anywhere.
The E-Trade savings account is definitely worth a look for our readers here at HighestInterestSavings.com. All E-Trade Bank accounts are FDIC insured, of course, and are also covered under E-Trade’s Complete Protection Guarantee.