Bank of Internet Online High Yield Savings Rate at 2.00%APY

Bank of Internet is the kind of bank that you might not be interested in doing business with or parking your hard earned money. What with so many internet scams these days.  However, this business model is what is now being applied by so many businesses these days because of its low maintenance cost. Since everything is done over the internet and that means not paying a bank teller or renting an office building, they can afford to give a much higher rate to its depositors compared to what their counterparts are offering.

The bank is currently offering a high yield saving account rate of 2.00%APY with no minimum balance required and no monthly fees.

2 .00% APY

FDIC Insured No min. balancNo acct. fees

The bank is FDIC insured so money should be safe. You can visit the FDIC website if a bank is insured or not.

Update June 20, 2009: Bank of Internet high yield saving account rate is up a bit by just 0.060%APY. The high yield saving account rate which used to be 2.00%APY in April is now 2.060%APY.

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