High Yield Savings Account Rates for December 2011

by hysa | Filed under Savings Account.

2011 is almost over and the best thing to do for one with something in mind for 2012 is to start the New Year with a much better savings goal. Yes, December is the most joyous month each year and it is indeed the month we spend for gifts to share and give to our loved ones. Yet, December is also a good month to start a New Year with a good savings plan.

For savings, the best way is to look for a high yield savings account since it gives you a much better savings account rate compared to a regular savings account. There are many banks offering high yield savings accounts however only a few are offering the best high yield saving account.

We have gathered below the best high yield savings accounts offered by banks that are FDIC insured and Credit Unions with accounts also covered by insurance:

1. UFB Direct. UFB Direct tops on our list of banks offering a high yield saving account. UFB Direct offers 1.30%APY on its Airline Rewards Savings and the minimum amount to open is $100 only with no monthly fee.

2. Alliant Credit Union. As a credit union, you must be aware that you can only avail of its high yield savings account offer if you are a member of the credit union. Alliant Credit Union currently offers 1.15%APY on its high yield savings. Only $5 is the minimum amount required to open and there is no monthly fee. However, in order to be entitled to the APY, you must have a minimum account balance of $100.

3. smartypig. SmartyPig, a free online piggy bank and a leader in social banking, offers 1.10%APY on its SmartyPig Savings Account. SmartyPig requires $25 minimum amount to open, but there is no monthly fee. Also, your account with SmartyPig is covered by FDIC insurance and funds are deposited with BBVA Compass. BBVA Compass is a leading U.S. banking franchise with operations in the Sunbelt Region.

4. Clear Sky Accounts. Offers Clear Sky Savings Account at 1.04%APY. Only $1 minimum to open with zero monthly fee. Clear Sky Accounts is brought to you by Chesapeake Bank of Virginia.

5. State Farm Federal Credit Union. The credit union offers 1.01%APY on its share savings account. Only $5 minimum to open and there is no monthly fee. However, as a credit union, this offer is only available to credit union members.

6. Discover and CNBBankDirect offers 1.00%APY on their respective online savings and high yield savings account. While Discover Bank requires $500 as the minimum amount to open its online savings account, CNBBankDirect only requires $1 to open. Both banks however requires no monthly fee for maintaining your savings account.

Start your 2012 with a savings goal in mind and at the end of the year you will be very grateful for doing yourself a big favor. It’s not too late to start to build wealth. With a small fraction of your income each month, you are guaranteed to have something to get you through when times get rough for you.

You can compare the above high yield savings account rates with our previous month compilation of banks offering the best high yield saving account and see for yourself if the rates are up or down. But, be that as it may, there is no reason not to save for your own future.

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