SFGI Direct, a division of Summit Community Bank, is offering an SFGI direct savings account at 2.25%APY. This is an online savings account with no monthly service charge and requires a minimum balance of $1 only to earn interest.

There is a $25 minimum balance required to open the online savings account. Rate is accurate as of June 28, 2009 and may change after account opening.

SFGI Direct is insured with FDIC.

Tags: online savings account

AmboyDirect, Amboy Bank new internet branch, is offering an online savings account that pays 1.51%APY on new deposits plus a $50 bank bonus. Only $100 is required to open and there are no monthly balance minimums or service fees. Note however that this is an online savings account not offered in the bank’s branches and is not ideal for those not comfortable banking online.

To obtain the 1.51%APY, the new online savings account must maintain a balance of between $3,000 to $100,000.  Account balances of $100,000 and above earn  from 1.51%APY to 1.26%APY. If your online savings account balance fall between $300 to $2,999, you will only earn 1.00%APY. Those that fall below $300 earns no interest.

To obtain the $50 bank bonus, you need to maintain a minimum balance of $3,000 or more in your online savings account for 90 days. If you meet this requirement, your $50 bank bonus will be credited to your account the next statement cycle.

AmboyDirect online savings accounts are FDIC insured.

Tags: online savings account